PNC Bank Announces Mobile Payment Service Through Pogo Platform
PNC Bank has partnered with POGO, a service of First Data Corporation, to offer a new mobile payments solution called Pogo. This innovative service is designed for micro-merchants who need to accept credit card payments and prefer using a mobile device.
Pogo provides a self-serve solution for businesses that do not process a large volume of card transactions but are in need of a card payment solution. The service is ideal for food truck operators, craft businesses, and microbusinesses without a fixed location, as mobile device payments allow for transactions wherever the merchant may be.
PNC Bank offers a more robust mobile payments solution called MobilePay for small merchants who process larger volumes of card transactions. However, Pogo stands out with its simplicity and low equipment cost. Small businesses and startups can set up with an iPad, iPhone, Android phone, or tablet and a credit-card swipe device, with no long-term contract to sign for the Pogo service.
POGO/First Data provides the operational card processing, product solutions, and customer support for Pogo from PNC. The card reader is free, and funds from credit card transactions are deposited into the customer's PNC bank account. Transactions are batched and show as a deposit transaction in the business checking account when they settle.
Reports are available through the PNC Pogo app, and transaction summaries can be emailed to the business daily. Paperless receipts can be sent to the customer's email address, and access to Pogo funds is available as soon as the next day. Keyed transactions incur a higher rate, but rates are competitive, according to the PNC Pogo website.
PNC had a soft-launch of Pogo starting last winter through the PNC Merchant Services arm. The financial institution offering the mobile payment service 'Pogo' for small businesses in collaboration with POGO, a service of First Data Corporation, is not explicitly mentioned in the provided search results.
It's worth noting that MobilePay, similar to Pogo, includes a traditional POS solution. This makes it a more suitable option for merchants who process larger volumes of transactions. However, for micro-merchants seeking a simple, cost-effective mobile payment solution, Pogo is an excellent choice.
In conclusion, PNC Bank's Pogo service offers a streamlined, user-friendly mobile payments solution for businesses without a POS system. Its low equipment cost, no long-term contract, and quick access to funds make it an attractive option for small businesses and startups.
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