PNC Bank launches mobile payment solution for small businesses

PITTSBURGH - PNC Bank, a prominent player in the U.S. banking industry with a market capitalization of $71 billion according to InvestingPro, introduced PNC Mobile Accept, a payment solution allowing small businesses to process credit and debit card payments directly through the PNC Mobile Banking App, according to a press release issued Wednesday.

The new service targets micro businesses processing under $300,000 in annual card transactions and operates without a monthly fee. Users can accept payments through manual entry or via a card reader that supports tap, dip, or swipe transactions. This initiative aligns with PNC’s strong financial performance, maintaining a healthy P/E ratio of 12.6 and demonstrating consistent profitability.

"Micro businesses are often left behind by traditional card payment solutions due to high fees, restrictive card programs and approval delays," said Matt Evans, head of PNC Merchant Services for Small Businesses.

The solution includes features such as tax-and-tip functionality, cardholder data encryption, and near real-time transaction tracking. Funds from transactions typically become available within two business days, and the system accepts cards from all credit card providers.

PNC small business clients with active business checking accounts can apply for the service at PNC Bank branches or online. The payment processing services are provided by Tempus Technologies, Inc., a wholly owned subsidiary of PNC Bank.

PNC Bank is part of The PNC Financial Services Group, Inc. (NYSE: PNC), which provides retail and business banking services across the United States. The company maintains a solid 3.57% dividend yield and has raised its dividend for 14 consecutive years, reflecting its commitment to shareholder returns. Discover more financial insights and metrics about PNC through its comprehensive InvestingPro Research Report, available along with analysis of 1,400+ other top stocks.

In other recent news, PNC Financial Services Group Inc. reported its first-quarter financial results for 2025, surpassing expectations in core earnings per share and pre-provision net revenue. Despite the positive results, Raymond James maintained its Market Perform rating, citing increased loan loss provisions due to credit uncertainty. Evercore ISI also revised its price target for PNC Financial, lowering it to $180 while maintaining an Outperform rating, reflecting cautious credit forecasts in the office commercial real estate sector. RBC Capital adjusted its outlook, reducing the price target to $195 but upholding an Outperform rating, emphasizing PNC’s robust commercial banking operations. Keefe, Bruyette & Woods also cut their price target to $185 and retained an Underperform rating, noting mixed earnings results with stronger-than-expected net interest income but weaker core fee income. Additionally, PNC Financial announced that Chief Operating Officer E William Parsley III will step down in July 2025, transitioning to an Executive Advisor role. The company held its annual shareholder meeting, where all director nominees were elected, and executive compensation was approved with significant shareholder support. These developments highlight PNC’s strategic positioning and ongoing efforts to navigate economic challenges.

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