Deluxe Corporation (DLX) has entered into a merchant‑services partnership with Washington Trust Bank, the largest independently held full‑service commercial bank in the Northwest. Washington Trust, headquartered in Spokane, Washington, manages more than $10 billion in assets and serves a broad base of small‑ and medium‑sized businesses across Washington, Idaho, and Oregon.
The deal gives Washington Trust access to Deluxe’s scalable payments platform, operational expertise, and high‑touch customer support, while extending Deluxe’s presence into the Pacific Northwest. The partnership fits neatly into Deluxe’s broader strategy of transforming from a legacy print company into a payments‑and‑data powerhouse, a shift that has already pushed the Payments and Data segment to 47 % of total revenue, up from 43 % a year earlier.
Deluxe’s Q4 2025 results, released on January 28 2026, showed a 0.5 % increase in full‑year revenue to $2.133 billion and a 2.8 % rise in Q4 revenue to $535.3 million. The company guided 2026 revenue to $2.11 billion–$2.175 billion, reflecting confidence in continued growth of its high‑margin digital businesses. The partnership is expected to accelerate that momentum by adding a geographically diversified, high‑quality client to Deluxe’s merchant‑services portfolio.
Brian Mahony, President of Deluxe Merchant Services, said the partnership “reflects the strength of our financial‑institution business and our focus on helping banks deliver reliable, modern merchant services.” Shane Patnoi, Director of Mortgage and Consumer Lending at Washington Trust, noted the bank’s intent to “align with a partner that shares our long‑term vision for merchant services and provides a strong foundation for future growth.”
The partnership comes at a time when Deluxe’s stock has been trading near a 52‑week high and analysts have upgraded the company to “strong‑buy” in light of its robust earnings performance and expanding payments footprint. The deal reinforces the narrative that Deluxe is successfully executing its transformation strategy and positioning itself for continued growth in the high‑margin payments and data space.
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