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In July 2009, U.S. Bank and Visa announced a joint partnership with the launch of Syncada, a multi-bank, business-to-business payment network. As part of that joint venture, the PowerTrack system was contributed to the new organization and was re-branded Syncada. PowerTrack, the online payment system, is now Syncada, the multi-bank network. Users of the system still receive the same experience using the network, and their banks continue to provide account management services.
The goal of Syncada is to create a global business-to-business payment network that is offered to businesses and government agencies by many banks, instead of being a payment product offered by a single bank. Similar to the major credit card networks, Syncada strives to offer a single platform and payment network that will be distributed and financed by multiple banks.
We’re ready to help you join the Syncada network. Contact us today.