PNC Strikes Deal To Buy Payment Gateway Firm Tempus Technologies

PNC Bank N.A. said on Wednesday (Jan. 27) that it has struck a definitive deal to buy payment gateway provider Tempus Technologies, Inc. The purchase is “subject to legal close” and would grow PNC Treasury Management’s payment platform, letting business customers handle their receivables and payables via one channel covering all rails, according to an announcement.

Tempus Technologies’ offerings encompass web services, payment portals and mobile payment apps, among other offerings. Its offerings will be smoothly connected with the bank’s current payment platforms — like Zelle, wire transfer, automated clearing house (ACH) and RTP Network — to offer a full collection of products for the treasury needs of customers, according to the announcement.

Mike Lyons, executive vice president and head of PNC Corporate & Institutional Banking, said the deal shows the banks continuing commitment to invest in its treasury management offerings by further growing its payments functions.

“Leveraging Tempus Technologies patented solutions and our existing industry-leading Treasury Management platform, we will provide our clients with convenient, immediate and secure payments options based upon their business’ individual needs,” Lyons said in the announcement.

Tempus Technologies will keep its president, Jason Sweitzer, its current management and staffers and will keep running out of Indiana. Tempus provides payment processing offerings for companies of all different sizes, while PNC is among the biggest diversified financial services institutions in the U.S., according to the announcement.

“We look forward to expanding our services and product set leveraging PNC’s strong treasury management and advisory capabilities,” Sweitzer said in the announcement.

For companies taking ACH payments, increasing security and compliance requirements from Nacha have made it more challenging than in the past to make sure that revenue can keep flowing.

Previously speaking with PYMNTS about this particular challenge, Sweitzer and Tempus Technologies Executive Vice President J. Brian Merena discussed how a consultative strategy can ease ACH compliance without interrupting the payer’s experience.