Recently, PNC Bank has extended its collaboration with Visa, focusing on enhancing immediate payment services for its PNC Treasury Management clients.
Broadening Payment Capabilities
This partnership integrates Visa Direct’s US network with PNC’s Treasury Management Platform to provide clients with enhanced payment functionalities, simplifying the money transfer process and improving payment workflows.
PNC Treasury Management offers a comprehensive suite of end-to-end technological tools and experienced teams designed to assist businesses in establishing an integrated cash management system.
Meeting Growing Demand for Faster Payments
To address the increasing need for faster payments across various business scenarios, including insurance payouts, gig economy earnings, earned wage access, and refund/rebates, PNC and Visa plan to further refine the immediate payment experience. Each payment situation demands a tailored approach, so PNC aims to offer services that cater to both payors’ and payees’ preferences.
In line with client expectations for advanced capabilities from financial institutions, this strategic alliance is expected to bolster PNC’s array of offerings for clients seeking dependable and scalable payment solutions. Visa also intends to collaborate closely with PNC, equipping its clients with modern tools necessary for operational advancement.
Through the real-time payment channels provided by Visa Direct, both companies aim to optimize operations while responding to the growing demand for enhanced digital payments.
PNC’s Existing Payment Solutions
PNC currently offers a range of products and solutions such as Direct to Debit Card, Real-Time Payments, Zelle Disbursements, proprietary disbursement solutions, Intelligent Routing, and ePayments. The Direct to Debit Card solution can be accessed via the bank’s ePayments platform through API integration.
PNC’s Commitment to Technological Investment
Apart from this new partnership with Visa, PNC continues its investment in technology, aiming to support clients as they work towards increasing working capital, securing transactions more effectively, and expanding their businesses.
