NEW YORK -- MasterCard International announced on Tuesday that Mellon Bank, based in Pittsburgh, and Norwest Bank, based in Des Moines, will issue the MasterCard Purchasing Card.

MasterCard said sales in the $384 billion procurement market are predominantly handled through paper billing. MasterCard developed its procurement card product in 1991, when it signed up First Chicago and NationsBank.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.