U.S. Bank has launched a credit card app for use at selected retail partners.

The new app enables consumers to apply for on-the-spot credit to make immediate in-store purchases. It is being piloted with REI (Recreational Equipment Inc.), a retailer of outdoor gear and apparel, and will be introduced to other retail partners later this year.

The virtual credit card contains account information that the cardholder can provide to the sales specialist so purchases can be made immediately. Furthermore, the app provides anytime access to account management tools, such as viewing the account balance and most recent transactions as well as making a payment to the account. It also features a link to REI's website to shop for favourite products. It is currently only on the iPhone, but there are plans to make it available to Android users in the near future.

"The new U.S. Bank Card app provides our existing credit card partners, such as REI, the opportunity to enhance their relationship with their customers by moving the card-opening process from the checkout lane to the front of the store, using mobile technology," says Dominic Venturo, chief innovation officer at U.S. Bank Payment Services division. "We are excited to partner with REI to offer consumers the convenience of instant access as well as the ease and security of managing their account through their mobile device."

Share Story: