August 09, 2010 - 10:13 PM ET
US Bank Corporate Payment Systems announced plans to self-issue cards in Europe in 2011 to service multinational clients instead of through a partner bank. The bank for more than five years has owned operations in Europe that allow it to issue cards, according to US Bank CPS president Rob Abele. The bank will continue to issue cards through alliance partners in countries in which it doesn't own operations. The bank also intends to open a call center in Europe. Multinational clients are asking for a "single global contract and single point of approval for commercial cards," Abele said.
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