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contactless payment with Apple Watch Source: Shutterstock.

PSCU’s weekly analysis of transaction trends has landed, and though there’s cause for cautious optimism, the COVID-19 crisis looms large in the data.

The report revealed that overall card payment volumes have continued to drop slightly, while spending in the U.S. rose about 16% for debit and fell 3% for credit. Meanwhile, consumers are using less cash than they were this time last year, instead opting for contactless and card-not-present payments.

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