Payments

This week in global banking news, German regulator BaFin takes action on Allianz, trains in Toronto add contactless fare tech, Klarna expands in the U.K., and more.

Many BNPL lenders are expanding the services they offer to consumers. But adapting the product for businesses, or reducing friction at the point of sale, could also be avenues for growth.

A real-time refund can allow travelers to quickly rebook after a cancellation, and instant credits can make longer airport waits more bearable, according to fintech experts.

Millions of Americans have trouble accessing low-cost loans because they have thin or problematic credit histories. That could change as fintech innovations and new self-reporting tools give lenders troves of new data.

Through this collaboration, Amex will offer loyalty options through new channels to boost payment volume.

Payrailz created its own bill payment technology and a peer-to-peer product for smaller banks wary of Zelle, but Jack Henry can scale it faster by absorbing the Connecticut-based fintech.

Financial institutions have a solid track record of keeping customers for the long haul, but technology firms, fintechs and challenger banks are gaining ground on the incumbents.

Mastercard is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. 

Founder Jason Gardner plans to drop CEO duties for a new role at the payment technology firm, which is expanding its focus to larger financial institutions as some existing clients slump.

FleetCor Technologies' CEO successfully pitched small businesses on "a better way to pay" for gas, making himself a billionaire in the process. But that success was built in part on falsely advertised rebates, concealed transactions fees and a host of other unfair practices, a federal judge ruled.