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    Justin Sullivan via Getty Images

    Three US cash trends persist, Fed report says

    The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

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    Sarah Silbiger via Getty Images
    Opinion

    Are restaurant operators eating too many fees?

    "I’ve been disappointed to see how the payments industry is constantly looking for ways to profit off of small businesses in sneaky ways," says Copper CEO Dickson Chu.

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    Pierre Crom via Getty Images

    World Bank forecast for cross-border payments rises

    The international bank expects remittances to climb 3.7% to $802 billion this year. That's more than was previously expected and the increase is partly due to the upheaval in Ukraine, the World Bank said.

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    Tero Vesalainen via Getty Images

    Deserve taps Goldman for credit facility

    With the $250 million credit facility from Goldman Sachs and other backers, the Palo Alto, California-based digital card startup aims to keep financing an expanding clientele.

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    Retrieved from Flickr/frankieleon.

    Fed delivers mixed credit card data

    While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.

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    da-kuk via Getty Images

    Jack Henry prowls for acquisitions

    The payment technology provider aims to start making acquisitions again this year, the CEO said. While potential targets had been too expensive in recent years, the public market's swoon is creating more options now.

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    Chip Somodevilla via Getty Images

    Yellen urges stricter stablecoin regulation amid TerraUSD crash

    The coin, which relies on an algorithm rather than being backed by dollar reserves, plummeted to 23 cents Wednesday, according to CoinDesk.

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    PeopleImages via Getty Images

    VizyPay carves out a niche catering to rural America

    Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.

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    Courtesy of Mashgin

    Self-checkout tech maker Mashgin raises $62.5M

    The technology company, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the investment to build out its team, quicken expansion and scale globally.

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    Courtesy of Mastercard

    Mastercard CEO lands hefty raise

    Compensation for Michael Miebach, who was the card company's chief product officer and president before he became CEO last year, climbed 75% to $16.1 million for 2021 after he took Mastercard's top post.

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    Permission granted by Square

    EMVCo invites input on new contactless standard

    The firm controlled by the card companies has drafted a new contactless technology standard and it's seeking public comment on the specifications. Their plan is to implement a change by yearend.

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    Justin Sullivan via Getty Images

    Cannabis payments companies focus on compliance, creativity

    In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.

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    Michael Santiago via Getty Images

    Digital food orders persist beyond pandemic

    "Some in the foodservice industry feared that online ordering would ‘kill restaurants,’ but it’s becoming increasingly clear that these orders have done just the opposite, acting as a lifeline,” a recent Paytronix report says. Digital payments are rising alongside off-site eating.

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    Permission granted by Stripe

    Stripe-Plaid squabble erupts

    When digital payments company Stripe launched a new service this week, it caught fintech Plaid, one of its customers and partners, by surprise, and not in a good way. Plaid's CEO expressed his displeasure in what has become a Twitter drama.

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    Teresa Kroeger via Getty Images

    Block 'just getting started' with Afterpay

    San Francisco-based Block is focused on expanding buy now-pay later provider Afterpay’s customer base and managing its loss rate, Block executives said during Thursday’s first-quarter earnings call.

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    Courtesy of DoorDash

    DoorDash extends gas card rewards program

    The program, which provides drivers 10% cash back on gas purchases on a prepaid Visa card, will now run through August.

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    Courtesy of Grubhub

    Grubhub launches corporate pay card

    Employers with a Grubhub Corporate Account can set parameters on when workers can use the pay card or choose to give them a daily or weekly credit to use when ordering from partner restaurants on the delivery marketplace.

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    Win McNamee via Getty Images

    Durbin proposes card fee reforms, not legislation

    Sen. Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation. He also questioned Visa and Mastercard representatives about recent fee increases and took testimony from consumer advocates who slammed the hikes.

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    Khaosai Wongnatthakan via Getty Images

    Fiserv, Affirm partner on BNPL

    Brookfield, Wisconsin-based Fiserv is adding a new buy now-pay later player to its roster. The company said Wednesday that San Francisco-based Affirm will be the first BNPL option integrated into its Carat service, which is directed at larger enterprises.

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    Don Arnold via Getty Images
    Deep Dive

    BNPL players' losses grow as costs soar

    Buy now-pay later providers are having to pay a hefty price to keep up with surging consumer demand for their financing services, spending large sums to add new technology and more employees. As a result, their expenses are rising at a much faster rate than their revenue, meaning most of the major players are posting losses despite the BNPL mania.

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    Drew Angerer via Getty Images

    Congressman calls for increased digital wallet protection

    Consumers may "not understand that funds kept in digital wallets or by payment apps may not be insured and protected to the same degree as their bank accounts,” a congressional report says.

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    Justin Sullivan via Getty Images

    Amex CEO snags $28.5M total compensation

    Stephen Squeri, CEO of New York-based American Express, received $28.5 million in total compensation for 2021. The vast majority of that pay package came from annual and long-term incentive awards on top of a $1.5 million base salary.

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    Chip Somodevilla via Getty Images

    SEC bulks up crypto enforcement unit

    To combat scams and fraud in the digital asset space, the federal agency is adding 20 supervisors, investigative staff attorneys, trial counsels and fraud analysts to an already 30-strong team.

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    Tero Vesalainen via Getty Images

    Contractors turn to payment apps to speed billing

    Cloud-based and mobile-friendly, fintech solutions are poised to revolutionize how contractors pay and get paid.

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    Courtesy of Toast

    Toast checks into hotels

    Restaurant software company Toast on Tuesday announced its move into the hotel market with Toast for Hotel Restaurants, which it says will provide tools to streamline operations, increase revenue and process room charges directly from its suite of features.