U.S. Bancorp has introduced an accounts-payable automation service that uses clients' existing financial systems to generate approved payments that can be charged to purchasing card accounts.
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The Minneapolis company said last week that it is offering the U.S. Bank Access Online Payment Plus service through its U.S. Bank Corporate Payment Systems. The unit said it has processed hundreds of payment instruction files through Payment Plus; the largest single transaction was for $1.55 million.
Genuine Parts Co., an Atlanta automotive supplier, was one of the first U.S. Bank clients to adopt the service and expects to route at least $50 million of transactions through it this year.
