US Bank will initially issue cards to customers in the UK and Ireland, France, Germany, Spain and Italy. The bank will offer settlement options in EUR and GBP and will also support its customer language requirements in English, French, German, Italian and Spanish. US Bank will issue the commercial cards by mid-2011.
The commercial cards will be issued by Elavon Financial Services, a wholly-owned subsidiary of US Bank. The cards follow the European technology standards, including the Chip-and-PIN capability. To serve customers outside its issuing area, the US Bank takes part in the Global Commercial Payment Solutions (GCPS) network.
US Bancorp, the parent company of US Bank, registered USD 308 billion in assets in December 2010 and currently operates 3,069 banking offices in 25 states and 5,310 ATMs. The company provides a line of banking, brokerage, insurance, investment, mortgage, trust and payment services to consumers, businesses and institutions.
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