Payments

The card network has a new policy to determine who pays when consumers dispute certain e-commerce transactions, but many smaller sellers are unaware of new requirements and may run afoul of them.

Ross, who came from workforce software company Ceridian, will lead MoneyGram's direct-to-consumer business and global digital strategy.

Financial institutions and their trade groups fear a loss of funding for loans if customers migrate in large numbers to a central bank digital currency, according to comments to the Federal Reserve about a possible digital dollar. Industry officials are also worried about heightened cybersecurity and money laundering risks.

The U.K. payment firm recently paired with the small-business technology firm Bluevine, part of a growing network of collaborations to compete in the crowded international transfer market and cut out correspondent banks.

Pagaya is exploring an acquisition of Sunlight, which helps homeowners finance rooftop solar panels, people with knowledge of the matter said.

Despite slower new-account growth, the card network had healthy overall sales, loan growth and deposit inflows in the first quarter. The performance gave credence to its ambitions to become a digital banking giant.

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.