U.S. Bank and Kroger launch new strategic payments alliance
Cincinnati The Kroger Co. and U.S. Bank, lead bank of U.S. Bancorp, announced Wednesday a strategic alliance that will give Kroger customers a suite of payment products.
As part of the alliance, U.S. Bank has purchased the grocery retailer’s existing credit-card portfolio from RBS Citizens N.A., and said it plans to offer additional financial services for Kroger customers.
“Our expanded partnership with Kroger leverages U.S. Bank’s entire spectrum of retail and consumer banking services,” said Pam Joseph, vice chair of payment services for U.S. Bancorp.
The alliance is an expansion of U.S. Bank’s existing financial services relationship with Kroger.
Kroger currently operates 2,468 supermarkets and multi-department stores in 31 states under two dozen local banner names including Kroger, City Market, Dillons, Jay C, Food 4 Less, Fred Meyer, Fry’s, King Soopers, QFC, Ralphs and Smith’s. The company also operates 777 convenience stores, 374 fine jewelry stores, 893 supermarket fuel centers and 40 food processing plants in the United States.