PNC Financial Services has begun offering a new tool for merchants to accept payments on their mobile devices.
Pogo, the name of the payment reader that works with a mobile app, is designed to let a micro-merchant, such as a food truck owner, accept card payments on their mobile devices. At launch, the bank promoted other Pogo perks like next-day access to funds when a PNC bank account is connected, the ability to send customers digital receipts and access to 24/7 customer support.
PNC is the latest bank to follow in Square's footsteps. Capital One, Bank of America and BBVA Compass also market mobile readers to their merchant customers.
Separately, PNC Bank updated the digital tools it offers small businesses in February. The sixth-largest bank by assets announced a partnership with Bill.com to make available services meant to help small-business customers better manage their cash flow.