New account opening processes will be shortened by up to 80%, and additional insights and management features will be added. Additionally, Clover ® and Paze ® for online checkout will be introduced.

Why it's important:Merchants are increasingly integrating payment acceptance with software, data, and financial services to help businesses manage their operations and make more informed decisions.

Latest developments:Truist is undergoing significant upgrades in multiple aspects of its merchant relationships, including a new account opening experience, insights and management functions provided by Truist Merchant Engage, the Clover ® integrated business management platform, as well as Paze ® for online checkout.

Impact:Truist The new digital account opening experience has been reduced by up to 80% in the time from when a customer makes a decision to when the process is actually executed.

Charlotte, North Carolina, November 3, 2026 / PRNewswire / -- Truist Financial Corporation ( NYSE : TFC ) Today, we announce a comprehensive upgrade to our merchant services, covering all aspects of how businesses can choose solutions, complete account openings, gain insights, manage payments, and serve customers through multiple channels.

This investment reflects the growing demand from customers for merchant services, as they hope that providers can combine payment, software, data, and financial expertise. The upgraded solution, Truist, is designed to fit with customers' current operational methods and to be flexible enough to meet more needs over time.

Through the new digital account opening experience, Truist has reduced the time from customer decision to execution by up to 80%. Truist plans to extend this experience to more merchant service solutions in the future. Combined with the enhanced Truist Merchant Engage functions, a wider range of Clover merchant solutions, and Paze for online checkout, these upgrades will bring a more powerful and intuitive customer experience.

Truist, the person in charge of corporate payments, Chris Ward stated: "We are elevating our ambitions in the field of merchant services. We are working to create a simpler, faster, and safer experience for our customers by providing intelligent solutions that help businesses better understand their payment activities and assist them in managing more operational aspects. This will create more value for customers today and prepare them for the future."

Learn more about Truist Merchant Services.

Build merchant services around the way enterprises operate

These upgrades focus on four customer needs:

• Faster startup.Through the advisor-guided account opening process provided by Truist Merchant Engage, manual steps are reduced, and the execution speed is accelerated.
• See more, manage more.Truist Merchant Engage offers merchant information and insights related to authorization, settlement, and statements through a more unified Truist experience.
• To enable more businesses to operate on the same platform.Clover integrates payment acceptance, business management, and customer interaction capabilities through a platform, helping enterprises manage more operational aspects in one place.
• Serve customers in more ways.Paze Allows eligible consumers to use their existing debit and credit cards for online payments at participating merchants without the need to re-enter payment information.

Not just merchant service technology

Truist combines its merchant service technology with a broader range of financial expertise, the flexibility to adapt to changing customer needs, and a relationship that can grow together with the business.

Greater flexibility.Enterprises can add supported hardware, software, and applications as needs change, covering capabilities such as payment processing, business management, and online commerce.

Wider financial professional capabilities.Truist can connect merchant services with deposit and fund management solutions as well as loans, helping customers to comprehensively consider payments, cash flow, liquidity, and investment.

Supports different business requirements.The extended capabilities can support businesses in the catering, retail, professional services, and field service sectors, as well as healthcare providers. At the same time, Truist will still provide specialized merchant solutions in appropriate circumstances.

Ward indicates that "merchant services are becoming far more than just payment processing. The companies that ultimately succeed will combine payments, software, and data with a deep understanding of a company's cash flow, capital needs, and growth plans. As a trusted payment partner, it is our responsibility to integrate these elements to help customers make better decisions and provide them with the capabilities they need for operations and growth."

About Truist

Truist Financial Corporation ( NYSE : TFC ) is a mission-driven financial services company dedicated to inspiring and building a better life and community. Truist is headquartered in Charlotte, North Carolina, and holds a leading market share in several high-growth markets in the United States. It provides a wide range of products and services through its wholesale and retail businesses, including personal and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending services. As of September 30, 2026, Truist, it was one of the top ten full-service commercial banks with total assets of $554 billion. Truist Bank, FDIC is a member of Equal Housing Lending Institutions. For more information, please visit Truist.com.