Syncada was originally formed as a joint venture between Visa Inc. and U.S. Bank to create a global B2B network for financial institutions to offer their corporate clients. It specialized in processing and settling invoices, enabling electronic payments, and providing supply chain financing. In 2013, U.S. Bank acquired full ownership of Syncada from Visa. The platform's technology and services were subsequently integrated into U.S. Bank's Corporate Payment Systems, primarily supporting its Freight Payment and other B2B payment solutions.