PNC Treasury Management has rolled out push-to-debit card capabilities, dubbed Direct to Debit Card, in a bid to bridge the gap in business-to-consumer payments.
The addition of push-to-debit card capabilities to PNC’s payment ecosystem will enable businesses to send consumers payments through an eligible debit card anytime throughout the year.
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This solution enables businesses to pay consumers without using bank account numbers or third-party payment apps. It is designed to route payments to consumers using their 16-digit debit card number in real-time.
PNC partnered with Visa to build the Direct to Debit Card solution, leveraging Visa’s real-time push payments platform Visa Direct.
PNC Treasury Management executive vice-president and product & operations head Chris Ward said: “PNC remains committed to expanding our digital payment capabilities and ultimately, transforming the payments industry with solutions that keep business moving.
“This push-to-debit card payment capability is complementary to our other offerings and will provide convenience, immediacy and payment choice based on our clients’ needs.”
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By GlobalDataCompanies will be able to utilise Direct to Debit Card for a range of business needs, including traditional payroll processing, paying on demand and independent contractor payments.
Visa head of Visa Direct North America Gaurav Gollerkeri said: “We’re pleased to work with PNC Bank – one of the first banks to offer a push-to-debit card solution – to help businesses offer consumers real-time access to their funds through Visa Direct.
“Together, Visa and PNC are providing a total solution for faster payments that is easy for clients to implement and provides speed for payments to consumers.”
PNC offers Real-Time Payments (RTP), Request for Payment commercialisation and blockchain technologies for businesses in addition to its suite of Treasury Management APIs.
Last year, Mastercard partnered with PNC Bank to create a new solution offering real-time payments to its business customers.
