PNC Bank, announced a new mobile payment option enabling Visa commercial cardholders to use a smartphone or mobile device to make corporate purchases via Apple Pay, Android Pay, and Samsung Pay.
PNC is one of the first U.S. banks to enable mobile wallet payments for commercial cards that may be used to make travel-related and in-store purchases.
PNC is one of the first U.S. banks to enable mobile wallet payments for commercial cards that may be used to make travel-related and in-store purchases.
“Businesses recognize the growing need to make payments fit the new ‘digital-first’ lifestyle of their corporate cardholders,” said Vicky Bindra, global head of products and solutions for Visa. “Visa’s collaboration with PNC is helping bring the convenience and security of mobile payments to their corporate cardholders and meet the growing demand for convenient business payments for everyone, everywhere.”
In addition to convenience, PNC’s mobile payment option includes multiple security features:
Commercial card numbers are not stored on the mobile device; a unique “virtual” account number is created by the app for each transaction (Visa Token Service).
Account numbers are never shared with the merchant.
Cardholders are authenticated through a two-step identification and verification process when adding their commercial card.
Transactions monitored by the same PNC security & privacy that protects a physical PNC commercial card.
“Mobile point-of-sale solutions in the commercial card space have been slow to arrive. During the past year we have seen a palpable shift in demand, driven by frequent travelers and a younger workforce demographic with a clear preference for a mobile experience,” said Steve Murphy, Mercator Advisory Group. “[Mercator] sees a coming wave of use of mobile devices and methods for transactions as the merchant base supporting mobile payments expands, so PNC is in good position
