When U.S. Bank landed a new contract with The Cooperative Purchasing Network in Houston “” a 30,000 government and nonprofit member organization “” we thought it the perfect time to figure out: what’s so great about purchasing cards (p-cards)?
Jeff Rankin, a senior executive for U.S. Bank’s Corporate Payment Systems division, says the appeal for organizations that make regular payments goes beyond automation. The key feature, Rankin says, is data.
Yes, it helps that the electronic payments facilitated by p-cards are typically processed much more quickly. But Rankin says clients also rely on p-cards to measure whether employees are spending in a way that fits into company policy. How many stops did that cross-country flight involve? What airline, or even rental car company, was used? Tracking all this electronically helps government and nonprofit agencies “” p-cards’ biggest fans “” stay not only organized, but also transparent and efficient.
Our conversation with Rankin went beyond the p-card’s basic appeal, taking on the impact of mobile on the space, and peering into the future to see what just might be next in terms of new p-card features.
When U.S. Bank landed a new contract with The Cooperative Purchasing Network in Houston — a 30,000 government and nonprofit member organization — we thought it the perfect time to figure out: what’s so great about purchasing cards (p-cards)?
Jeff Rankin, a senior executive for U.S. Bank’s Corporate Payment Systems division, says the appeal for organizations that make regular payments goes beyond automation. The key feature, Rankin says, is data.
Yes, it helps that the electronic payments facilitated by p-cards are typically processed much more quickly. But Rankin says clients also rely on p-cards to measure whether employees are spending in a way that fits into company policy. How many stops did that cross-country flight involve? What airline, or even rental car company, was used? Tracking all this electronically helps government and nonprofit agencies — p-cards’ biggest fans — stay not only organized, but also transparent and efficient.
Our conversation with Rankin went beyond the p-card’s basic appeal, taking on the impact of mobile on the space, and peering into the future to see what just might be next in terms of new p-card features.
Listen below to hear our full conversation with U.S. Bank’s Jeff Rankin.
Jeff Rankin Senior Sales and Marketing Officer, U.S. Bank Corporate Payment Systems
Jeff Rankin is a 30-year veteran in the card payment financial services industry. He is responsible for leading sales and marketing functions for US Bank Corporate Payment Systems products, including Purchasing Cards, Commercial Electronic Payments, Corporate Travel Services, One Card, fleet cards and aviation cards. Mr. Rankin directs four key sales channels: Corporate Banking; Commercial Banking; Government and Public Sector; and Indirect Agent Programs. Rankin reports to Corporate Payment Systems Executive Vice President Kurt Adams.
Rankin joined US Bank in Oct. 2007 from Visa USA, where he was Senior Vice President and senior officer for the Chicago Sales office. His team was responsible for growing revenue with Visa members in credit, debit, and commercial card products, merchant acquiring and processing services.
Prior to joining Visa in June 2003, Rankin was with Bank of America for ten years. His roles included: Merchant Services Executive, Senior Manager Corporate and Commercial Credit Cards, and Chief Operating Officer, Boatmen’s Merchant Processing Co., a joint venture with First Data Merchant Services.
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Jeff Rankin