PNC Bank to acquire payment solutions provider Tempus Technologies

By Pavithra R

PNC Bank N.A. has announced entering into a definitive agreement to acquire Tempus Technologies, a leading payment gateway provider that delivers secure and innovative payment processing solutions for businesses of all sizes. 

The acquisition is expected to expand PNC Treasury Management’s robust payments platform, enabling corporate clients to manage both payables and receivables through a single channel, spanning all payment rails.

“This acquisition demonstrates our ongoing commitment to investing in our Treasury Management products and solutions by further expanding our payments capabilities. 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,” said Mike Lyons, Executive VP and head of PNC Corporate & Institutional Banking.

Tempus Technologies’ unique solutions, including mobile payments apps, payment portals, web services, and more, will allow both prospective and existing clients to enhance flexibility with their payments processes. Additionally, with end-to-end encryption of payment data through a single gateway, clients will have unilateral payments safeguards housed outside of their network, thus reducing both risk and costs.

“We believe this is an opportunity to not only continue to grow our business and support our existing channel partners and clients, and to do so with a company that shares our vision of delivering innovative and high-quality solutions. We look forward to expanding our services and product set leveraging PNC’s strong treasury management and advisory capabilities,” said Jason Sweitzer, President of Tempus Technologies.

Tempus Technologies will retain its president, Jason Sweitzer, existing management team and employees, and continue to operate out of Auburn, Indiana. The company will continue to manage its portfolio of channel partners and clients. Its solutions will be seamlessly integrated with PNC’s existing payments platforms, such as the RTP Network, ACH, Wire Transfer and Zelle, providing clients with a comprehensive solutions suite for all their treasury needs.