Visa taps 2 banks for business card systems.

SAN FRANCISCO - Visa U.S.A. said it selected units of First Bank System Inc. and CoreStates Financial Corp. to develop credit card-processing systems for its commercial-card programs.

Visa said it requires processing systems that would give users of its three corporate products - for procurement, travel, and small businesses - a high level of documentation and control.

Rocky Mountain BankCard System of Denver, the chosen unit of Minneapolis-based First Bank System, pioneered the bank procurement-card business in the 1980s with a program for federal government employees. Also named by Visa was Synapsys Inc., a newly formed card-processing unit of CoreStates Bank of Delaware.

MasterCard International in August certified Total System Services Inc. of Columbus, Ga., to process its purchasing card.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER