Truist's New Merchant Tools: What Business Owners Need to Know

Jessica Albright · 2026-11-03

Truist just made a move that could make life easier for business owners who accept payments. The super-regional bank rolled out a faster onboarding experience and added new insights for merchants, according to Chris Ward, head of enterprise payments. It's not the flashiest announcement, but it might be one of the more practical ones for small and midsize businesses trying to keep up with bigger players. ### Why Faster Onboarding Matters If you've ever tried to set up a merchant account, you know the drill: forms, waiting, more forms, and then a few more days of waiting. It's a headache that can delay your ability to take payments—and that means delayed revenue. Truist's new onboarding is designed to cut that time down. The bank says the process is now more streamlined, with fewer steps and quicker approvals. For a business owner, that could mean getting up and running in days instead of weeks. That's real money you're not leaving on the table. ### Insights That Actually Help You Run Your Business Beyond speed, Truist is adding a layer of insights to its merchant tools. Think of it as a dashboard that doesn't just show you sales totals but helps you understand them. The new features include things like: - **Sales trends:** See how your revenue is trending over time, so you can spot slow periods before they become a problem. - **Customer behavior:** Understand when your customers shop and what they buy, so you can stock up and staff accordingly. - **Payment mix:** Find out which payment methods your customers prefer—cards, mobile wallets, etc.—so you can optimize your checkout. These insights are the kind of thing that used to be available only to big enterprises with dedicated data teams. Now, they're being put in the hands of everyday business owners. > "We want to give business owners the tools they need to make smarter decisions, faster," Ward said. "That's what this update is about." ### What This Means for the Competitive Landscape Truist isn't the only bank beefing up its merchant services. Competitors like Square, Stripe, and PayPal have been leading the charge with slick tools and fast setups. Traditional banks have been playing catch-up. Truist's move is a sign that the big banks are serious about competing in this space. For business owners, that's good news—more competition usually means better tools and better pricing. ### Should You Switch? If you're already a Truist customer, this update is a nice bonus. If you're not, it might be worth a look—especially if you're currently dealing with a clunky merchant setup. But as always, do your homework. Compare fees, check the contract terms, and make sure the tools actually fit how you do business. Faster onboarding is great, but it's only one piece of the puzzle. The bottom line: Truist is making a play to be more than just your bank—it wants to be your payments partner, too. And for business owners tired of juggling multiple systems, that's an offer worth considering.