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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.