U.S. Bank will provide P-card services to buying co-op

Houston-based The Cooperative Purchasing Network(TCPN) has awarded a contract to provide purchasing card services and ePayment solutions to Minneapolis-based U.S. Bank.

The agreement streamlines the process through which new customer accounts are established for TCPN’s 30,000-plus active government and nonprofit members. The agreement will lower costs, reduce paperwork and enhance the efficiency of TCPN-member payment processes.

TCPN is a national purchasing cooperative that contracts on behalf of K-12 schools, higher education, local governments and non-profit organizations in all 50 states. Established to help public entities operate more economically, TCPN bids and awards contracts, freeing its members from having to negotiate on their own.

TCPN competitively bids and awards contracts to national vendors in accordance with purchasing procedures mandated by state procurement laws and regulations. TCPN contracts are available for use by public and private schools, colleges and universities, cities, counties, non-profits and all governmental entities.

“We are pleased to have earned this opportunity to bring our next-generation ePayment tools to the broad spectrum of TCPN member organizations across the country,” said Jeff Rankin, senior sales and marketing officer for U.S. Bank Corporate Payment System. “Our track record of helping public sector and non-profit organizations operate more efficiently speaks for itself. We are eager to bring our expertise to the member organizations of TCPN.”

Now available to all TCPN members, the U.S. Bank Purchasing Card Program provides organizations automated payments. “U.S. Bank has consistently demonstrated the ability to provide outstanding service levels to public sector entities,” said Chris Penny, vice president of sales for TCPN. “This partnership provides our members a world-class purchasing card program that will allow agencies to drive efficiencies while also meeting their obligation to properly manage their budgets.”

U.S. Bancorp, with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the U.S. The company operates 3,080 banking offices in 25 states and 5,085 ATMs and provides a line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.