US Bank lets companies instantly send a corporate card to employees’ mobile phones

Woman using US Bank digital corporate card on her smartphone
INSTANT CARD: Firms can now send US Bank digital corporate cards direct to employees’ smartphones

Corporate customers of US Bank can now send a digital corporate card directly to an employee, contractor, volunteer or customer’s mobile phone, enabling them to instantly begin charging online and in-store purchases to the company — subject to a strict spending limit and expiration date.

“With a few simple steps, a company can send an Instant Card to anyone in the organisation needing to make purchases,” the bank says.

“Funds are available for immediate use and remote users have the added comfort of contactless payment, an especially important consideration right now.

“To protect against fraud or misuse, the company can control how and when funds are used by establishing card spending limits and expiration dates and can readily review all employee transactions online, via the bank’s management reporting tool.”

An Instant Card can be sent to an iPhone owner today, with support for Android phones “expected in Q4”.

New cards can be set up using the bank’s online banking service or via a new Instant Card mobile app. Registered users then simply select the recipient, enter the spending limit and expiry date, add the recipient’s name, mobile phone number and email address and click ‘send’.

The recipient receives an email instructing them to download their new card to their Apple Wallet “in a single click” and can begin using their Instant Card immediately, in person or online.

“As soon as the Covid-19 crisis began and our customers began implementing their various work-from-home guidelines, they started reaching out to us,” says Bradley Matthews, US Bank’s senior vice president for corporate payments.

“They needed a tool for their suddenly remote staff to make purchases without having to use personal credit cards.

“Providing a contactless and digital experience for our business customers is imperative right now. And we’re quite certain that it will be going forward.”