3/17/2022 4:00:00 PM

Umpqua Bank Announces Collaboration with Visa to Launch New Commercial Card Solutions for the Middle Market

Umpqua Bank today announced its collaboration with Visa, the world leader in digital payments, to launch two innovative commercial card solutions designed to meet the unique needs of middle market business owners. Under the partnership, Umpqua Bank is unveiling a new Visa Commercial Preferred rewards card designed to help company owners manage their daily business spend, and leveraging Visa Commercial Pay, a suite of business-to-business payment solutions designed to improve cash flow, reduce manual processes and capture enhanced data for better reporting and reconciliation.

The Visa Commercial Preferred Solution is designed to meet the rewards preferences of middle market business owners as well as the cashflow, purchasing and expense needs of their business.  Offering a premium experience to the owner, the solution:

  • Earns unlimited points on all eligible company purchasing and travel and entertainment spend
  • Earns 2x-5x bonus points on qualifying travel and rideshare spend
  • Offers owner the ability to choose how they want to be rewarded: points can be redeemed for travel, statement credit, gift cards, business merchandise, premium paybacks and more
  • Delivers travel benefit to the managing cardholder for annual lounge club membership (United or Delta) and TSA Precheck
  • Provides more control and flexibility with virtual card options
  • Manages company cashflow

“Businesses around the world are turning to Visa and our financial institution partners to help enable enhanced digital banking experiences and achieve greater flexibility over the management of their day-to-day spend,” said Veronica Fernandez, North America Head, Visa Business Solutions. “Through this collaboration, we're excited to help Umpqua Bank’s clients streamline money movement through the digital-first capabilities offered by Visa.”

The Umpqua Bank Commercial Pay solution, leveraging Visa Commercial Pay, enables businesses to virtually digitize and streamline all their payment needs. This solution provides:

  • An app-based solution to request and distribute virtual cards for single, per diem, or ongoing transactions
  • Integration into many travel-management companies (TMCs) to track spend and capture receipt data
  • Real-time transaction visibility tied to purchase controls reduces risk and improves security

“Umpqua Bank Commercial Pay is a highly secure and flexible digital payment alternative that gives our customers the ability to gain insights and efficiencies to move their business forward,” said Kathryn Albright, EVP, Head of Global Payments and Deposits.  “Launched in tandem with our new Visa Commercial Preferred rewards card, Umpqua Bank Commercial Pay represents our continued focus on meeting customers’ payment needs with innovative, secure solutions that streamline and optimize their payment processes.”

About Umpqua Bank

Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For," and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the seventeenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.