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University of Kansas selects Commerce Bank for payment processing, merchant banking, and purchasing card services

Lawrence, Kan. – July 15, 2022Commerce Bank announced an agreement today with the University of Kansas to provide payment processing with Accounts Payable Card, merchant banking, and purchasing card solutions for the University as well as the KU Center for Research, KU Memorial Union, Kansas Athletics, KU Medical Center and the KU Alumni Association.

The University of Kansas and related organizations will now utilize these Commerce solutions to streamline the University’s financial activities.

“We’re thrilled to provide these tailored and innovative banking solutions to take the University of Kansas and related organizations’ financial tools to the next level,” said Rob Gillespie, market president with Commerce Bank. “Our commitment is to be a collaborative financial partner to the University and to use innovation to solve real business challenges.”

Commerce leverages decades of industry knowledge and experience in the development and execution of its merchant services, which include secure and swift automated payments, mobile payment acceptance, credit card processing and point of sale solutions, all with the latest security features to safeguard financial data.

“We are impressed with Commerce Bank’s innovation and its dedication to providing cost savings, efficiencies and customer service, which will improve the ways people do business with us,” said Craig Alexander, Sr. Director of Financial Services with the University of Kansas. “Banking tools are nice, but we have the added benefit of Commerce’s strong customer service model which means we have reassurance that Commerce will be there to provide guidance to the University and related organizations, every step of the way.”


About Commerce Bank

With $35 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

Disclosures:

1As of March 31, 2022

About the University of Kansas

The University of Kansas is a major comprehensive research and teaching university. The university's mission is to lift students and society by educating leaders, building healthy communities and making discoveries that change the world. The KU News Service is the central public relations office for the Lawrence campus. kunews@ku.edu