Truist unveils Merchant Engage
0
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."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Finextra
an hour ago
- Finextra
Wingspan raises $24m for embedded contractor management in HR platforms
Wingspan, the first modern payroll platform purpose-built for contractor management, announced that it has raised $24 million in Series B funding led by Touring Capital, bringing its total capital raised to $54 million. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Existing investors Andreessen Horowitz, Long Journey Ventures, Distributed Ventures, Company Ventures, and 186 Ventures also participated. Wingspan is on a mission to make contract work effortless for everyone. In less than three years, the company expanded its customer base by 200%, increased average ACV by 5x, supported 12x more contractors, and processed $3B+ in payments. Wingspan's rapid adoption across various industries signals that businesses are urgently seeking infrastructure to manage this workforce transformation. 'From day one, we knew the real problem existed at the intersection of company and contractor. We strategically started by building for freelancers—learning their pain points around income, benefits, and taxes—then leveraged those insights to create the comprehensive platform that businesses desperately need. We've now completed the circle with the only solution that truly works for both sides,' said Anthony Mironov, Co-founder and CEO of Wingspan. 'The workforce composition is changing, and platforms that plan for this shift now will be well-positioned for the long haul.' Roughly 40% of U.S. workers have performed contract work in the last year, and businesses increasingly rely on contingent labor to scale efficiently. More than $1.4 trillion dollars is paid out to contractors annually, or 4% of GDP, across an estimated 74 million contractors, per MBO Partners. In many ways, contractors are the backbone of the U.S. economy. By 2027, half of American workers are projected to earn some income from independent contracting, marking one of the most significant shifts in modern employment composition. Wingspan is utilized by a range of contractors, from Omni's gig workers to CRU Group's insurance adjusters. Teladoc Health, Inc. (NYSE: TDOC) leverages Wingspan to provide its 10,000 healthcare providers with a seamless payment experience, saving the company an average of 28 hours per month on payment processing. "Working with Wingspan has completely transformed the way Teladoc manages 1099 Provider Payroll,' said Tricia McGimpsey, VP, Payroll at Teladoc Health. 'It's an incredibly seamless process now.' In addition to its Series B raise, Wingspan is announcing Wingspan Embed, a new solution that enables HR platforms to transform the way they manage and support contractors. The comprehensive feature set goes beyond contractor onboarding, tax automation, and payments to elevate the contractor experience with value-added financial services including tax withholding, debit cards, instant payouts, and insurance. Wingspan Embed's modular and embeddable API-first architecture plugs directly into any HR platform; partners can choose from a white labeled solution, modular pre-built UI components, or a deeper, native integration. With Wingspan Embed, HR platforms become the central hub for managing a modern, flexible workforce. 'Wingspan Embed fundamentally changes what HR platforms can offer their customers. Instead of forcing businesses to juggle multiple systems, they can now manage their entire contingent workforce where they already work,' continued Mironov. 'This funding accelerates our ability to help HR platforms unlock new revenue streams, reduce customer churn, and handle compliance complexities that have held them back from serving the contractor economy.' The funding will accelerate Wingspan Embed's adoption across HCM and HR platforms while expanding the company's footprint in key verticals—healthcare, insurance, staffing, and professional services—where flexible workforces dominate. Wingspan will continue to invest in its world-class team while launching AI-powered products that apply the latest advances in AI technology to automate contractor compliance, streamline payments, and solve the complex challenges of managing flexible workforces at scale in ways that were never possible before. 'Wingspan is a scalable, intuitive product solving a critical market need, led by a visionary founding team,' said Priya Saiprasad, General Partner at Touring Capital. 'The company's extraordinary growth and rapid adoption by prominent HR platforms gave us the conviction to lead this funding round. We are proud to support Anthony, Greg, and the entire Wingspan team as they continue to modernize the infrastructure for contract work.' 'Wingspan cracked the code on making flexible work work—for platforms and the businesses they serve. Every platform will need a contractor stack—the smart ones will embed Wingspan,' said David Ulevitch, General Partner at Andreessen Horowitz.
Finextra
a day ago
- Finextra
Elavon and WooCommerce expand payments partnership to North America
Elavon, a global payments leader, and WooCommerce, the ecommerce platform powering more than four million online stores globally, are expanding their successful European payments partnership across the Atlantic to North America. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Installing the free-to-download Elavon extension from the WooCommerce Marketplace gives merchants instant access to Elavon's proven payment services, helping micro, small and medium-sized businesses (SMBs) rapidly grow into additional markets. With a loyal base of more than two million users and a 4.3 Trustpilot customer satisfaction rating in North America, Elavon makes it simple for merchants to scale online. It will directly manage all merchants using the extension, meaning it can offer SMBs in the United States and Canada more value-added services as their businesses grow. Elavon's focus on integrating payments into software brings together a full suite of services for ecommerce platforms and independent software vendors (ISVs) to offer their clients. Elavon Payment Gateway can quickly integrate ecommerce platforms and ISVs to bring secure, fast and compliant payments wherever they are needed. For the last 12 months, Elavon and Woo have delivered secure and speedy online payments for small and medium-sized businesses in Europe. The new deal means merchants in North America join millions of Woo sellers across Europe who are able to access Elavon's reliable, flexible payment solution. Eva Paredes, Head of SMB, UK and Ireland at Elavon remarked, "Having proven the effectiveness of our payment services with WooCommerce merchants across Europe, we're excited to expand our partnership to support Woo customers throughout North America. With millions of online stores powered by Woo, this move enables us to help even more small and medium-sized businesses grow and thrive.' Pari Sawant, Chief Product Officer for Elavon, echoed this view: 'This agreement underscores the strength of our secure, reliable, and flexible payment solutions—designed to lower barriers and simplify operations. It reaffirms Elavon's position as a trusted global payments partner, committed to empowering merchants of all sizes with seamless integration and streamlined administration." 'After seeing the strong positive sentiment towards Elavon's payment processing in Europe, we're excited to extend this partnership and powerful solution to Woo customers across North America,' offered Web Griebel, Global Head of Payments at Woo. 'This expansion reflects our continued commitment to collaborating with trusted partners like Elavon to deliver seamless, high-performing payment solutions for merchants.'
Reuters
5 days ago
- Reuters
McGraw Hill valued at $3.25 billion as shares open flat in underwhelming debut
July 24 (Reuters) - U.S. publisher McGraw Hill (MH.N), opens new tab was valued at $3.25 billion as its shares opened at par in their New York debut on Thursday, hinting at a mixed response from investors in an otherwise upbeat IPO market. IPO market activity has rebounded strongly following a significant setback earlier in the year caused by tariff tensions, although investors have remained selective in their investment choices. Advent-backed consumer insights company NIQ Global's (NIQ.N), opens new tab shares dipped 3.6% in their NYSE debut on Wednesday, while a bunch of others are choosing to stay private to bypass the market uncertainty. "As a resilient company, all of those macro factors are really interesting to see, but they have no bearing on our company. We know the time is right for us now," McGraw Hill's CEO Simon Allen said. Meanwhile, investors lapped up digital bank Chime (CHYM.O), opens new tab and stablecoin issuer Circle's (CRCL.N), opens new tab shares on their respective first trading days, marking blowout debuts for both. McGraw Hill's shares opened at $17 apiece, at par with its IPO price of $17. The Platinum Equity-backed company priced its shares below its targeted range of $19 to $22 on Wednesday to raise $414.63 million by selling 24.39 million shares in its IPO. McGraw-Hill Education was spun off from McGraw-Hill Companies in 2013 and sold to private equity giant Apollo Global Management for $2.5 billion in a take-private deal, while the remaining firm became McGraw Hill Financial Inc., later rebranded as S&P Global. Apollo tried to relist McGraw in 2015, but the plan was shelved. Billionaire Tom Gores' private equity firm Platinum Equity acquired McGraw for $4.5 billion in 2021. McGraw Hill is one of the most recognized names in the publishing industry, with 99% of U.S. public K-12 districts and 82% of U.S. higher education institutions using its products, according to company filings.
