Payments

The card network says it is prepared to act on any new demand created by the recent banking crisis or possible economic downturn even though it reported slower growth in small-merchant card spending in the first quarter.

Reacting to a sharp uptick in charge-offs, Synchrony more than doubled its provision for credit losses during the first quarter to account for further shocks along with healthy loan-portfolio growth as more consumers revolve credit card balances.

The card network's ambition to add services has led it to work alongside companies like JPMorgan Chase, Jack Henry & Associates and Stax.

The blockchain company is working on a model for central bank digital currencies that it hopes will make it easier to transact across borders.

Companies holding a Bitlicense will have to follow similar standards for consumer protection, safety and soundness, and pay more to cover the cost of regulations.

Supermarket chain Kroger refused to accept Apple Pay and similar options in stores for nine years. It's changed its mind — but Walmart, Home Depot and Lowe's remain holdouts.

Payments orchestration — or sending transactions to the best option based on cost, speed and other factors — is gaining fresh attention ahead of FedNow's anticipated July launch.

The chief strategy officer of Circle argues that the future of the industry hinges on what market participants — and Congress — choose to do right now.

Early Warning Services' peer-to-peer transfer service drove $180 billion in funds transfers during the first quarter of 2023, up 31% over the same period last year.

"The bar is being set by consumer interactions," says Alisa Ellis, who is helping lead modernization efforts at the financial institution.