U.S. Bank partners with Booking.com on travel payments | PaymentsSource

U.S. Bancorp’s collaboration with Booking.com is the bank’s latest move to keep its cardholders from using rivals to pay for travel, a multitrillion-dollar industry that has fully recovered from its pandemic-era slump.

U.S. Bank is the eighth-largest issuer in the U.S., and its cardholders made $100 billion in payments in 2023, according to Nilson. Banks can use embedded payments to cross-sell other financial and non-financial products. The idea is to use a large base of customers as a way to forge partnerships with companies in other industries. 

“You want to make it easy for them to solve whatever problems they want to solve in life,” said Chris Roncari, senior vice president and head of consumer and small business product and experience for credit and debit cards. “It starts with us trying to make sure we have the cardholders in the best product they can get.”

Travel is a huge industry that is healthier than it has been in years, creating…