PNC Taps Into Micro Merchant Growth With Mobile Card Acceptance Ecosystem

PNC Bank has announced the launch of a new payments solution that empowers micro merchants to accept payments from credit and debit cards through the bank’s mobile app. The tool, known as PNC Mobile Accept, provides micro businesses with a flexible payment-acceptance program that doesn’t carry a monthly fee.

By targeting micro merchants like service providers, pop-up shops and food trucks, PNC is expanding the base of card-accepting businesses. This increases card usage and interchange fee potential, particularly in business segments that primarily transact in cash.

“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 in a press release announcing the launch of PNC Mobile Accept (Mobile Accept).

Micro businesses are sole proprietorships or small businesses, typically with fewer than 10 employees, that often deal in lower-value transactions. Vendors at a farmer’s market and independent professionals such as dog walkers or personal trainers may consider themselves to be micro merchants.

Merchants do not have to pay a monthly fee to use Mobile Accept.

PNC developed Mobile Accept for businesses that have an average transaction size that’s less than $1,000 and process under $300,000 in purchases from credit and debit cards per year. 

Prior to the rollout of Mobile Accept, micro merchants who wanted to use a payment-acceptance tool would have had to turn to a fintech to meet their business needs. Or, they may have had to limit customer payment methods to cash or check.

Now merchants who employ Mobile Accept will also have access to a plethora of other financial solutions offered by PNC, one of the largest banks in the U.S. Mobile Accept is available to PNC’s small business clients who have an active business checking account with the bank.

Retailers often employ robust merchant terminals to facilitate credit and debit card acceptance at the point-of-sale. But those machines may prove unwieldy for on-the-go merchants who conduct business at multiple sites in a given day.

Mobile Accept can process payment information manually entered in the PNC app, but it also works with a reader that’s small enough to fit into a user’s pocket. The device includes security features and is equipped with an EMV chip reader. 

Mobile Accept is a low-cost solution that features a pay-as-you-go pricing model, but it doesn’t cut corners when it comes to convenience. The tool accepts American Express, Discover, Mastercard, and Visa payments, and merchants can access funds they’ve collected through the solution within three business days.

PNC Bank provides online tutorials to help merchants activate and use Mobile Accept. 

“With PNC Mobile Accept, we’re meeting small businesses where they are, delivering enterprise-grade payments capabilities at micro business scale — fast, affordable, and accessible,” Evans said.