PNC Set to Acquire Payment Gateway Provider Tempus Technologies
PNC Bank announced on Wednesday it has reached a definitive agreement to acquire payment gateway provider Tempus Technologies. According to PNC, the acquisition will expand the banking group’s Treasury Management’s payments platform, which enables corporate clients to manage payable and receivables through a single channel. PNC also revealed that Tempus Technologies’ solution includes mobile payments apps, payment portals, web services and more. It will allow both prospective and existing clients enhanced flexibility with their payments processes. “Additionally, with end-to-end encryption of payment data through a single gateway, clients will have unilateral payments safeguards housed outside of their network – reducing both risk and costs. Tempus Technologies solutions will be seamlessly integrated with PNC’s existing payments platforms, such as the RTP Network, ACH, Wire Transfer and Zelle, to provide clients with a comprehensive solutions suite for all their treasury needs.”