US Bank has announced a number of new tools for making cardless travel spending faster, easier and more secure.
The new capabilities include:
- US Bank Travel VirtualPay enables business travellers to pay hotel charges with virtual account numbers. New functionality captures airfare transactions as well, making US Bank the first bankcard issuer in North America to provide cardless air payments that are fully integrated with Sabre and its payment technology partner Conferma.
- Real-time credit limit change capability for Travel VirtualPay allows for instant any-time 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 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 via a single-use account number which has been provided by US Bank. The single-use account contains the exact amount owed, down to the penny.
“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 US 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.”
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
