Truist Merchant Engage powers SMB growth in bank's latest payments suite expansion

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) has launched Truist Merchant Engage, an integrated merchant services platform designed for small and medium-sized businesses (SMBs). The platform, powered by Pollinate, marks Truist's first-to-market implementation in the U.S. and will be rolled out from June 2025 through early 2026.

The platform unifies business banking and merchant services into a single digital experience, featuring real-time dashboards, dynamic onboarding, and self-service tools. This initiative targets the $40 billion U.S. merchant acquiring market, addressing the needs of over 30 million SMBs that currently spend up to a full day weekly on administrative tasks due to non-integrated services.

Positive

• First U.S. bank to implement the Pollinate platform, showing innovation leadership
• Targets $40 billion U.S. merchant acquiring market opportunity
• Addresses efficiency gap for 30 million SMBs, expanding market reach
• Platform reduces administrative burden for business clients

Negative

• Extended rollout period through early 2026 may delay full market impact
• Significant investment required in technology infrastructure and implementation

News Market Reaction – TFC

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In the trading session that priced this news, TFC gained 0.53%, reflecting a mild positive market reaction.

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New platform, powered by Pollinate, unifies business banking and merchant services to simplify operations and deliver intelligent insights

CHARLOTTE, N.C., July 8, 2025 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today unveiled Truist Merchant Engage, a new integrated merchant services platform designed to help small and medium-sized businesses (SMBs) streamline operations, gain real-time insights and scale with certainty. The launch marks a significant expansion of Truist's payments product suite and underscores the company's commitment to delivering modern, scalable technology that deepens client relationships and drives focused growth.

This milestone reinforces Truist's ongoing investment in innovative payments technology — built to meet evolving client needs and position the bank at the forefront of digital financial services. The rollout, which began in late June and will continue into early 2026, marks a major step in Truist's journey to modernize business banking and deliver integrated, insight-driven solutions. It also marks the U.S. debut of the Pollinate platform, with Truist as the first U.S. bank to bring this solution to market.

Truist Merchant Engage offers a smarter approach to serving business clients by unifying core financial services and merchant solutions into a single, intuitive digital experience. The platform features real-time dashboards, dynamic onboarding, product discovery and self-service tools that simplify operations and unlock insights.

Many of the over 30 million SMBs in the U.S. — representing 99% of all businesses — still rely on non-integrated payments and business services providers, costing them up to a full day each week in administrative tasks. Valued at approximately $40 billion, the U.S. merchant acquiring market presents a significant opportunity.

"At Truist, our approach to payments is built on simplicity, speed, and safety — principles that guide how we create meaningful value for our clients," said Truist Head of Enterprise Payments Chris Ward. "Truist Merchant Engage is more than a product — it's a reflection of our purpose-driven commitment to lead the industry with integrated solutions that help businesses thrive. By unifying business banking and merchant services into one seamless experience, we're enabling SMBs to operate more efficiently, make data-driven decisions and grow with confidence."

"Our partnership with Truist is about helping a forward-looking institution deliver on its promise to small and medium-sized business customers," said Pollinate CEO Fiona Roach Canning. "Banks have the product breadth to serve SMBs better than anyone — but what's been missing is the experience layer to unify merchant acquiring with business banking. Pollinate helps banks bring this together in a way that's intuitive, intelligent and built for modern business owners."

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $536 billion as of March 31, 2025. Truist Bank, Member FDIC. Learn more at Truist.com.

About Pollinate

Founded in 2017, Pollinate is a global fintech dedicated to ensuring that banks are at the heart of every Small and Medium-sized Business (SMB). Pollinate's proprietary, digital experience platform enables banks to better integrate merchant acquiring with business banking for their SMB customers. This platform brings together a comprehensive suite of bank and third-party products for SMBs through a single, bank-owned solution. Pollinate's platform is trusted by banks and their merchants around the world. The company's investors include Mastercard, NatWest, NAB, CIBC, Fiserv, EFM Asset Management, and Insight Partners.

 

View original content:https://www.prnewswire.com/news-releases/truist-merchant-engage-powers-smb-growth-in-banks-latest-payments-suite-expansion-302499178.html

SOURCE Truist Financial Corporation

FAQ

What is Truist Merchant Engage and when will it launch?

Truist Merchant Engage is an integrated merchant services platform for SMBs that unifies business banking and merchant services. The rollout began in June 2025 and will continue through early 2026.

How large is the market opportunity for Truist's (TFC) new merchant platform?

The U.S. merchant acquiring market is valued at approximately $40 billion, serving over 30 million SMBs that represent 99% of all U.S. businesses.

What features does Truist Merchant Engage offer to businesses?

The platform offers real-time dashboards, dynamic onboarding, product discovery, and self-service tools that simplify operations and provide business insights.

Who is powering Truist's new merchant services platform?

The platform is powered by Pollinate, marking their U.S. market debut with Truist as the first U.S. bank to implement their solution.

How will Truist Merchant Engage benefit small businesses?

The platform helps SMBs save time on administrative tasks (currently up to one day per week), streamline operations, gain real-time insights, and scale their business more effectively.