The U.S. Bank Per Diem Card is a reloadable prepaid debit card that is currently in its pilot phase. There are two types of Per Diem cards, the Standard and the Elite. The difference between the two is based on the type of business entity. Unlike the Standard card, the Elite Per Diem Card allows ATM withdrawals and has a cash back with purchases option. The Per Diem Card is an alternative to corporate cards and may be used by businesses or colleges and universities for business transactions or to distribute funds. There is no cost for making purchases, and it can be used wherever Visa debit cards are accepted. Customers can visit myperdiemaccount.com to view account transactions. Click here for more information.
Elavon, a leading global payments provider and wholly-owned subsidiary of U.S. Bancorp has acquired Collective Point of Sale Solutions Ltd. (Collective POS) in Toronto, Canada. The deal expands Elavon’s presence and distribution network in Canada and aligns with Elavon’s global growth strategy in strategic markets. Founded in 2001, Collective POS is known for providing innovative, customized payment processing and merchant services to entrepreneurs and owners of small to medium-sized businesses in Canada. With more than 80 employees, Collective POS serves nearly 12,000 businesses across Canada and processes in excess of $1 billion worth of debit and credit card transactions annually. Click here for more information.
Bank of America Merrill Lynch expanded its Global Commission Management platform adding U.S. electronic options. This integration expands the payment channel for clients already subscribed to the GCM platform, which provides access to the global trading infrastructure allowing users to trade electronically, leverage trading relationships, and access research solutions. The Commission Management service is offered to institutional clients through the Client Commission Arrangement (GCA) or Commission Sharing Agreements (GSA) platforms, and services over 600 clients globally. Click here for more information.
Chase Paymentech recently launched its 7th annual Holiday Pulse. The Pulse tracks the aggregate online sales volume, payment transactions, and average volumes from its 50 largest e-commerce partners, helping merchants track holiday economic activity. This year Chase Paymentech is adding traditional brick and mortar volume information to the Pulse. The Pulse provides an in-depth look into trends during merchant’s busiest time of the year, the period from 10.29.2012 through 12.31.2012. Click here for more information.
City National Bank launched two mobile web browser-based business solutions for small business and treasury clients. Business Online for Mobile allows authorized users to view account activity, make account transfers, schedule or approve bill payments, and locate a branch. City National Treasury Net for Mobile includes all the capabilities of Business Online for Mobile, plus the ability to approve wire transfers and release ACH transactions with a security token. Click here for more information.
City National Bank business customers can now deposit cash using the newly launched City National Bank Remote Cash Vault Service, available through selected Armored Carriers. This “smart safe” solution tracks the actual total of cash received, and electronically transmits the day’s total receipts to the bank for credit to the business customer's account. Click here for more information.