The super-regional rolled out a faster onboarding experience and added insights for business owners, said Chris Ward, head of enterprise payments.

Truist seeks to strengthen the importance of its merchant offering by adding tools and services for clients and packaging those in a more cohesive way, an executive said.

There’s “a larger opportunity for us to make this more relevant to our clients' day-to-day operation,” said Chris Ward, Truist’s head of enterprise payments.

On Tuesday, the Charlotte, North Carolina-based bank said it’s boosting merchant services capabilities, rolling out a faster onboarding experience and adding insights for business owners. Truist is also offering more business management tools through Fiserv’s Clover point-of-sale system and Early Warning Services’ Paze digital wallet as an online checkout option.

The enhancements are designed to strengthen the entire experience for Truist’s merchant clients, Ward said. All new features are live, after being piloted last quarter, he said; more tweaks are in the works, although he declined to share details.

The crowded merchant acquiring segment has gone beyond payment processing to include software and other value-added services in recent years. Merchant services is a “big, important part” of Truist “becoming more critical” to clients’ payment needs, Ward said.

Rather than offering point solutions, “we’ve done a nice job of integrating a set of capabilities together, so it’s not just one piece, it’s bringing multiple things together, and I think that gives us a differentiated experience,” he said.

The merchant segment can also serve as the connection point to other areas of the bank, including deposits, treasury and lending, as Truist helps clients consider cash flow, liquidity and capital needs, Ward said.

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