U.S. Bank Unveils Multiple Enhancements to Boost Cardless Business Travel Payments

  U.S. Bank Unveils Multiple Enhancements to Boost Cardless Business Travel

   Travel VirtualPay to Add Airfare Capability and Real Time Credit Limits;
      Payment Plus Direct Will Speed Reimbursements for Travel Agencies

Business Wire

LOS ANGELES -- July 29, 2014

U.S. Bank this week announced a suite of new tools for making cardless
“virtual” travel spending faster, easier and more secure. The new capabilities
are being introduced at the Global Business Travel Association’s annual
conference July 26-30, and include:

  *U.S. Bank Travel VirtualPay allows business travelers to pay hotel charges
    with virtual account numbers. New functionality captures airfare
    transactions as well, making U.S. Bank the first bankcard issuer in North
    America to provide cardless air payments that are fully integrated with
    Sabre, the world’s largest travel marketplace provider, and its payment
    technology partner Conferma. The new airfare functionality is finishing up
    a pilot test with U.S. Bank customer Macy’s and is now available for the
    wider market.
  *Real-time credit limit change capability for Travel VirtualPay allows for
    instant anytime adjustment. An account’s credit limit can exactly match
    the approved booking amount, further increasing payment security and
    reducing the chances for misuse or improper spending.
  *U.S. Bank Payment Plus Direct is a faster and more secure reimbursement
    tool for third-party service providers, such as travel agencies. When the
    agency books a flight or hotel on behalf of a customer, it pays the
    service provider (e.g., the airline or hotel) via a single-use account
    number which has been provided by U.S. Bank. The single-use account
    contains the exact amount owed, down to the penny. Payment is available
    instantly, reconciliation occurs automatically and specific data elements
    – such as a confirmation number – get linked to each account for easy

“Research shows that travel buyers and suppliers are looking for the benefits
provided by single use virtual accounts, but often don’t realize they’re
available,” said U.S. Bank Travel Product Manager Mary Miklethun. “The
enhancements we’re now introducing, making such accounts even more secure and
easier to use, promise to widen their appeal and bring them into the business
travel mainstream.”

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $389 billion in assets as of June 30, 2014, is
the parent company of U.S. Bank National Association, the 5th largest
commercial bank in the United States. The Company operates 3,174 banking
offices in 25 states and 5,005 ATMs and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. Visit U.S.
Bancorp on the web at usbank.com.


U.S. Bank Public Relations
Teri Charest, 612-303-0732
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