U.S. Bank and Visa Direct, helping businesses deliver fast direct deposits to eligible bank accounts

As one of the United States’ leading payments providers, U.S. Bank sees firsthand how businesses' payment needs are changing. Companies today are looking for fast, simple and reliable ways to move money; whether they're receiving funds or paying customers, suppliers, contractors or employees.

That reality has shaped how U.S. Bank runs its payments business. By providing clients with the capabilities that were traditionally offered separately, including merchant processing, treasury management and corporate cards, the bank is making it easy for clients to access a broad range of payments expertise and solutions through a connected experience.

That approach has created new opportunities for the bank to apply capabilities like Visa Direct across a wide range of client needs. Rather than existing as a standalone solution, Visa Direct can now be part of broader conversations about how businesses move money quickly and efficiently.

Today, U.S. Bank uses Visa Direct to help clients send funds directly to eligible bank accounts using debit card credentials, supporting payouts to consumers, workers and other recipients. This can include insurance claim payments, contractor and gig-worker payouts, refunds and other situations where businesses need to send payments quickly. In addition, Visa Direct can help expand U.S. Bank’s cross-border reach¹, enabling access to more than 195 countries and territories and over 18 billion endpoints globally.

Payment expectations have changed

The shift is practical, not abstract. Businesses are trying to serve their own customers, workers and partners who expect payments to be fast, transparent and reliable. U.S. Bank’s aim is to help clients meet those expectations while managing the operational and risk considerations that come with fast money movement.

Just ten years ago, fast payments were not part of everyday expectations. Today, faster payment capabilities are increasingly common, and businesses are looking for ways to move payments quickly.

Peter Geronimo, EVP, Payments: Merchant and Institutional, U.S. Bank, explains: “The digital economy has changed everything. We have more than five billion people with a cell phone, all interacting with some form of digital economy. Everyone is participating in this new economy, from the world's biggest companies to individuals. For our clients to serve their customers more effectively, it comes down to speed, transparency and reliability.”

Mobile technology has helped transform how we transact and what we expect. Order a rideshare, and you can track its progress. The same visibility is now expected in business payments. Companies and consumers want to know where their money is at every stage of the journey.

U.S. Bank chose to work with Visa Direct because it complements its real-time capabilities, supporting customer expectations in practical ways, including fast payouts, greater flexibility and secure ways to move money.

Geronimo notes: “It’s about doing it with the right risk parameters. This is key because fraud and operational efficiency go together. Our clients want to increase revenue, reduce costs and improve operational efficiency, all while managing fraud. Solutions like Visa Direct can help achieve all of it. If you can offer a fast and secure transaction, you can improve the experience for customers while helping businesses operate more efficiently.”

Moving fast while managing risk

The same forces that can make fast payments more valuable also make risk management more important. As businesses move more money through digital channels, they are focused on helping protect data, reducing fraud and maintaining confidence in transactions.

“Clients are asking us for solutions that will take into account large scale events like account take overs, and want to know how to secure themselves against fraud. We don’t just execute the payment, we secure that information that travels with a payment,” says Anu Somani, Head of Global Payables and Receivables, U.S. Bank Treasury and Payment Solutions.

Helping clients serve the people who rely on them

Workforce expectations are changing, too. Many workers want more control over how and when they get paid, especially in roles where work may happen across multiple platforms, shifts or marketplaces. For the businesses that depend on them, fast payment capabilities may contribute to a better worker experience.

Somani explains, “Some employees, especially gig workers, are choosing who to work for based on how quickly they can get paid. Today’s workforce is flexible. They might drive a rideshare by day, work at a shop at night, and sell homemade goods on a marketplace. Capabilities like Visa Direct help our clients give workers fast access to their earnings and flexibility in how they get paid.”

When timing matters, the payment likely matters too

The value can become clearer in moments when timing matters. Consider the example of a technology platform that helps delivery and logistics companies onboard, manage and pay drivers and contractors. It is a business built on the strength and availability of its workforce.

Somani says, “Picture one of those drivers, midway through a route, when their vehicle breaks down. The driver needs money to get the breakdown repaired. With embedded payment capabilities enabled by Visa Direct, that platform can quickly deposit funds into the driver’s eligible bank account, using the debit card already in their pocket. ¹ The recipient’s eligible debit card credentials may be used instead of providing bank account details.”

Helping build for how businesses move money now

• Fast, flexible payments. With Visa Direct, U.S. Bank can help clients pay people when work is completed, rather than asking them to wait for the next cycle on a payroll calendar.
• Simple onboarding. Through Visa Direct, recipients can deposit funds to their bank account by simply using their debit card. This reduces the need to collect and manage additional account information.
• Scale with flexibility. As clients grow domestically and across borders, Visa Direct’s network can help U.S. Bank support new markets, use cases and recipient needs without requiring clients to rethink their payment approach each time they expand¹.

Visa Direct and U.S. Bank’s program performance, by the numbers

Based on the stated measurement period, U.S. Bank’s Visa Direct program recorded the following results.²

Creating better experiences for the people clients serve across geographies

Ultimately, U.S. Bank's focus is simple: helping businesses move money more efficiently. Whether it's a customer waiting for a refund, a worker expecting quick access to earnings, or a company managing payments across geographies, the aim is to help facilitate payments securely and reliably, with as little friction as possible.¹