PNC Bank to acquire Tempus Technologies

Financial details of the transaction were not divulged. Tempus Technologies offers payment processing solutions to businesses of all sizes. Its solutions include mobile payments apps, payment portals, web services and more. Additionally, clients can set up ‘unilateral payments safeguards’ outside their network to reduce risk and costs, with the end-to-end encryption of payment data.

These solutions will be integrated with PNC’s existing payment platforms including the RTP Network, ACH, Wire Transfer and Zelle. By acquiring Tempus Technologies, PNC will expand the payments platform of its treasury management business. It will allow corporate clients to manage their account payables and receivables via a single source, across all payment rails.