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Material enhancement to a growth area (merchant services) with cross-sell potential could lift revenue progression and mix, supporting multiple expansion stories in a bank with scale like TFC.
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Truist Financial unveiled a broad Merchant Services upgrade, integrating digital onboarding, insights, and management via Merchant Engage with Clover and Paze for online checkout. The move aims to speed client onboarding by up to 80%, improve payment data visibility, and deepen cross-sell across deposits, treasury, and lending. The catalyst could lift merchant-services growth and client stickiness in coming quarters.
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