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To a small set of local entrepreneurs, the act of paying for something is ripe for reinvention. Why can’t you get a digital receipt that could be automatically included in an expense report? Why can’t the merchant instantly see data from the day’s transactions to figure out which items were selling well —and what needs an extra push?
Last year, half a dozen local companies developing payment technologies collectively raised more than $55 million. Their investors are betting that we’re on the cusp of big changes affecting both our wallets and the cash registers we encounter.