kassieren
to collect payment
To receive money for goods sold or a service provided. This is the typical activity at a checkout or cash register.
Der Kellner kommt gleich, um zu kassieren.
The waiter will be right over to collect payment.

to collect / receive
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to collect payment
To receive money for goods sold or a service provided. This is the typical activity at a checkout or cash register.
Der Kellner kommt gleich, um zu kassieren.
The waiter will be right over to collect payment.

The verb 'kassieren' derives from the noun 'die Kasse' (cash register/checkout). The basic meaning is therefore the activity performed at a checkout: taking in money.
Bitte gehen Sie zum Bezahlen an die Kasse, dort wird kassiert.
Please go to the checkout to pay; payments are collected there.
In the meaning 'Geld entgegennehmen' (to receive/collect money), 'kassieren' can also stand without an object. It then simply means 'to carry out the payment process'.
Entschuldigung, könnten wir bitte zahlen? Ich würde gerne kassieren.
Excuse me, could we please pay? I'd like to settle the bill.
This meaning is colloquial and is always used with something negative. Typical combinations are 'ein Gegentor kassieren' (to concede a goal), 'eine Niederlage kassieren' (to suffer a defeat), or 'eine Strafe kassieren' (to get a penalty).
Für das falsche Parken hat er einen Strafzettel kassiert.
He got a parking ticket for parking illegally.
This meaning is also colloquial. It describes how a person in authority (e.g., police, teacher) confiscates something as a punishment. Typical objects are 'das Handy' (the mobile phone), 'der Ball' (the ball), or 'der Führerschein' (the driver's license).
Der Lehrer hat mein Handy kassiert, weil ich im Unterricht gespielt habe.
The teacher confiscated my phone because I was playing in class.
In the meaning 'für ungültig erklären' (to declare invalid), 'kassieren' is formal technical language from the field of law and administration. It is used for judgments, laws, or resolutions.
Der Verwaltungsgerichtshof hat die neue Verordnung kassiert.
The Higher Administrative Court annulled the new regulation.
to get / receive
'bekommen' and 'kassieren' can both mean that someone receives something. However, 'bekommen' is very general and neutral: you can get a letter, a gift, money, or even a punishment. 'kassieren' is especially appropriate when someone collects payment at a checkout or cash register. Colloquially, you can also say that someone 'kassiert' criticism, a punishment, or a defeat. In that case, it often sounds somewhat negative. Learners may confuse the words because both have to do with receiving. A simple rule is: for ordinary receiving, you usually use 'bekommen'; you use 'kassieren' for money at a cash register, or colloquially for something unpleasant.

Nach dem groben Foul kassierte der Spieler sofort eine gelbe Karte.
After the rough foul, the player immediately got a yellow card.
Nach dem Termin habe ich endlich die Rechnung per E-Mail bekommen.
After the appointment, I finally got the invoice by email.