PNC Bank has launched a new person-to-person (P2P) payment service that enables customers to send money to anyone with a US-based banking account using just an email address or mobile phone number. The service allows customers to send money securely on-line without having to share checking account and routing information.
Developed in conjunction with CashEdge, a provider of money transfer capabilities, the service is free for all PNC customers and available as part of PNC’s online banking system. The service is expected to appeal particularly to parents who want to send funds to college-aged students and among those wishing to make social payments for events, clubs and activities.
Thomas Kunz, director of payments and e-Business for PNC, said: “Payment habits change slowly, and while cash and paper checks are still the primary means of person-to-person payments, we know there are a growing number of customers who want to make paperless P2P payments online and through their own bank. It is important for us to offer a solution that fulfills this growing need as part of PNC’s commitment to make banking simple, safe and convenient for our customers.”
