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Truist Financial's (TFC) efforts to expand its lucrative POS lending business through the acquisition of Service Finance will go a long way in supporting revenue growth and be accretive to earnings.
And for Truist overall, we provide diversification away from...credit businesses, so that we perform well throughout a variety of market cycles." [114] On August 11, 2021, Truist announced it is acquiring Service Finance Co. for $2 billion. Service Finance provides point-of-sale financing 14,000 dealers and contractors for home improvement ...
Truist was formed in December 2019, as the result of a “merger of equals" between SunTrust Bank (of which LightStream was a division) and BB&T. [ 2 ] Debuting in March 2013, LightStream is a financial services technology company that provides unsecured , personal loans to people with good credit rating , through a digital process.
Square is a point-of-sale system for businesses with physical or online stores. [1] [2] Launched in 2009 by Block, Inc., [3] it enables sellers to accept card payments and manage business operations. As of 2023, Square is the U.S. market leader in point-of-sale systems, [4] [5] [6] serving 4 million sellers and processing $210bn annually. [7] [8]
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
Truist and Wells Fargo directed questions to The Clearing House, an operator of networks that clears and settles $2 trillion each day through wire, ACH check image and real-time payments.
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