Denver, CO – June 29, 2020 – Citywide Banks, a member of Heartland Financial USA, Inc. (NASDAQ: HTLF), announced today that for the fifth year in a row it has been ranked among the top U.S. commercial credit card issuers for purchase volume growth.
The Nilson Report ranked Heartland’s commercial credit card program among the top 35 Purchasing Card programs, with over $453 million in purchasing card volume in 2019, a growth of 53.9 percent over the previous year. The Nilson Report is a leading publication covering payment systems worldwide for 50 years. Earlier this year, Heartland Financial USA, Inc. was also named by Forbes as the 40th best bank in America.
“Today, more than ever, we understand the importance for our clients to manage cash flow, maintain relationships with vendors and negotiate favorable terms. It is an honor to be recognized as a leader in the commercial credit card space as we provide solutions that meet the needs of our clients, and the marketplace,” said Joanne Sherwood, President and CEO. “We’re grateful to our clients for choosing Citywide Banks as their partner, and we remain committed to innovating solutions for today’s dynamic environment.”
Even before the pandemic, the Association of Financial Professionals 2019 Electronic Payments Survey shared that 47 percent of companies surveyed said “Cost Savings” is a top benefit of sending electronic payments, and 53 percent of companies surveyed said “Speed of Settlement” is a top benefit of receiving electronic payments. With this method of payment rapidly becoming more common, Citywide Banks is helping clients reduce operating costs, increase fraud protection and provide more streamlined payments processes.News Citywide Banks’ Commercial Credit Card Program Nationally Ranked For A Fifth Year in a Row