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- Toast Inc., a provider of pay-at-table payments devices for the hospitality market, reported data derived from 112,000 restaurant locations in its Q1 2024 Restaurant Trends Report. Among the results: Tipping is most generous in Delaware, where it averages 22.1% of the bill.
- Mastercard Inc. said it is integrating Deposit Switch and Bill Pay Switch, technologies developed in conjunction with Atomic FI Inc., with its open banking platform. Deposit Switch enables consumers to automatically route their payroll deposits to a new or existing bank account without the usual paperwork. Bill Pay Switch enables them to add or update their payment credentials at merchants and billers.
- U.S. Bank said it will offer access to Greenlight Financial Technology Inc.’s debit card and money app to eligible U.S. Bank customers. Greenlight markets its financial management services to children and teens and can enable automated allowance payments and establish spending controls.
- Bill payment service specialist InvoiceCloud said a new report it commissioned found that 78% of respondents aged 55 and more prefer to pay bills digitally. Still mobile wallets like Apple Pay and Google Pay were not used as much for bill payments. Of the 43% of the 200 surveyed individuals who have used a mobile wallet, 72% of them said would consider using it to pay a bill.
- Embedded finance provider VoPay International Inc. said it is working with real estate platform Avesdo on a service that could cut payment reconciliation time for property transactions from 45 days to six days in Canada.
- Global payments platform Adyen NV opened an office in Toronto to serve as its Canadian headquarters. Based in Amsterdam, Adyen maintains U.S. headquarters in San Francisco.
- Gift card network Tillo said it is working with fintech Netevia on a new rewards and cash back program to market to Netevia’s banking and debit product customers. It includes offering discounted gift cards from various brands to fuel cash back programs.
- Payments provider National Retail Solutions Inc. launched several products, including a local shopping app, customized retail Web sites, and a review management tool.
- Wells Fargo launched its Attune World Elite Mastercard, which offers 4% cash rewards on transactions related to fitness and wellness.
- Max Neukirchen and Umar Farooq are taking over from Takis Georgakopoulos as global head of payments at JPMorgan Chase, effective immediately, Reuters reported, adding that Georgakopoulos is leaving to pursue other opportunities. Georgakopoulos has been with Chase for 17 years. Payments generated $4.46 billion in revenue for the bank in the first quarter, more than doubling the revenue earned on investment banking.
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