US Bank facilitates payment acceptance for SMEs

U.S. Bank has just presented a brand new offer of banking services to small businesses. Named U.S. Bank Business Essentials, this new offer is based on a current account presented as ultra-accessible, which stands out in particular on the market by offering free simplified payment acceptance features.

FACTS

• United States. Bank Business Essentials is presented as the new free current account offer combined with a comprehensive and simplified cash-out solution offered by the US bank to its corporate customers.

• It must allow them to accept card payments free of charge through a reader provided by the bank. It also provides an unlimited online payment solution.

• The added value of the service is also based on the fact that the bank promises its corporate clients that they will be able to access the funds received on the same day as they are accepted.

• United States. Bank Business Essentials offers its clients a fraud prevention tool, a transaction tracking service in the form of a digital dashboard, the possibility of linking its account with accounting and budget management software.

• All is accessible via a single application.

ISSUES

• Facilitate cash management : Small businesses are particularly fragile and subject to financial risks. The new service offered by U.S. Bank aims precisely, and beyond its free service, to allow them to access payments made by their customers more easily and faster.

• Completing its offer to businesses : U.S. Bank has long worked to consolidate a comprehensive and optimized offer for professionals. Thus, in addition to its new simplified cash collection service, the US bank offers its customers various practical services (like its very recent service). Spend Management) and in particular consolidated its position in this market in integrating, in 2021, a fee note management service.

PERSPECTIVE

• This commitment to the centralization of business services represents a way for U.S. Bank to meet the expectations of its target.

• The US bank relies on the results of a national survey conducted by it to highlight the need for small business managers to benefit from centralized services around their banking tools. 1000 business leaders were interviewed, 80% of them said they preferred financial service providers able to offer them comprehensive offers including banking, payment services and digital financial management tools.

• U.S. Bank specifies to end up accompanying more than 1.4 million small businesses to date.

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