Page 5 - Pso Feature News Today

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.

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

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

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.

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 boutique fitness industry is seeing strong growth, powered by a mix of payment tech and software that enables studio owners to accept onsite and remote transactions via mobile apps, QR codes and online.

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

The card brand is partnering with PayPal, Venmo and other firms in an attempt to erase the friction that accompanies transfers between different apps.

Betting the road to mass adoption of faster payments won't be smooth, the data technology company's new head of payments is rolling out products to fill potholes between slower and faster payments systems.