US Bank has launched a mobile app that allows
users to apply for and receive on-the-spot credit for in-store
purchases.
The user can apply for a virtual credit card
using the app and gain an instantaneous decision. Once approved the
user receives a virtual credit card via their smartphone which
contains account information that can be provided to the merchant
at the point of sale.
Go deeper with GlobalData
Dominic Venturo, chief innovation officer for
U.S. Bank Payment Services division, said:
“The new US Bank Card app provides our
existing credit card partners the opportunity to enhance their
relationship with their customers by moving the card-opening
process from the checkout lane to the front of the store, using
mobile technology.”
The app is being trialled with Recreational Equipment (REI), an
outdoor equipment retailer. It is currently available to iOS users
but an Android compatible version will be launched in the near
future, Venturo said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
