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IndustryUpdate

innovation—reinforcing its leadership in both digital
banking and customer engagement.
PNC Bank targets micro merchants

PNC Bank launched PNC Mobile Accept, a mobile pay-
ment solution tailored for micro businesses processing
under $300,000 in annual card transactions. Integrated
into the PNC Mobile app, it allows users to securely
accept credit and debit card payments via manual entry
or a compact card reader, the bank stated. With no
ANNOUNCEMENTS monthly fees, quick access to funds (typically within
two days) and features like tax-and-tip settings and
real-time tracking, it offers enterprise-level functional-
BofA clients embrace $10M ity at a micro-business scale, PNC added. Designed to
real-time payments limit overcome common barriers like high fees and approval

The Clearing House recently raised the real-time pay- delays, the tool is available to PNC business checking
ments (RTP) limit from $1 million to $10 million, clients online and at PNC branches.
enabling broader B2B use cases for Bank of America cli-
ents. As a key RTP network developer, BofA now allows RESEARCH
corporate customers to send higher-value payments
instantly—expanding use to real estate, deal closings Hospitality leaders on track to meet security goals
and other large transactions. In just six weeks, payments
over $1 million made up over half the value of BofA's FreedomPay and Toast released findings from their
RTP volume, BofA noted. Operating 24/7 with instant April 2025 Enterprise Merchants Needs Assessment
settlement, transparency and ISO 20022 messaging, RTP Study, surveying 200 hospitality decision-makers on
can enhance cash flow and efficiency, the bank stated, payment solution priorities. The results highlight a
adding that its clients also benefit from a full suite of strong focus on data security, seamless integration and
payment solutions and innovations. growth enablement. Ninety-seven percent of respon-
dents expressed confidence in meeting future cyberse-
It's time to stop summer chargeback losses curity goals; all participants saw integrated payments as

Chargebacks911 warned of a sharp rise in payment highly valuable—up significantly from 2024. Scalability
disputes during the 2025 summer travel season, which also emerged as critical, with 92 percent citing its impor-
follows a record-breaking 1.4 billion international tourist tance. The study confirmed that flexible, secure and
arrivals in 2024. With chargebacks in this sector averag- customer-centric payment experiences are vital for suc-
ing $120—the highest of any industry—and nearly half cess, FreedomPay and Toast stated.
deemed fraudulent, businesses face significant risks to Millennials reshape payment landscape, PXP
margins and operations, researchers found. Common
triggers include service issues, booking confusion and A new study by PXP revealed millennials are embracing
friendly fraud. Providers are urged to adopt proactive digital wallets—especially those with multi-currency
strategies: clear policies, responsive customer service, features for international travel—while prioritizing pay-
pre-arrival communication, chargeback alerts, advanced ment security. Sixty-four percent of respondents in the
fraud tools and post-trip follow-ups to reduce disputes study indicated they value digital wallets, and 40 per-
and protect revenue during peak demand. cent rank security as their top concern. While many still
use debit and credit cards, mobile wallets like Apple
CMX names Alkami 'Best New Community' Pay are gaining traction, particularly among younger
Alkami Technology won the Best New Community millennials, researchers found. Online shopping domi-
award at the 2025 CMX Community Industry Awards nates, but payment preferences shift by context: cash
for its revamped customer community launched in April remains popular for dining out, debit cards for groceries
2024. The online hub, built on Gainsight's Customer and credit cards for high-ticket items. Findings further
Communities platform, offers self-registration, real-time indicate millennials also favor personalized experiences,
analytics, and engagement features like forums and rewards and low fees.
events. The community rapidly grew from 275 to over Strong growth projected for
3,600 users, achieved a 96.6 percent adoption rate, and hotel, hospitality software
earned an 85 percent customer satisfaction score, award
judges noted, adding that with strong participation in SNS Insider reported that the global hotel and hospi-
35+ events and initiatives like "Tip Tuesday," Alkami has tality management software market, valued at $3.63
created a vibrant space for collaboration, feedback and billion in 2023, is projected to reach $6.88 billion by

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