Imagine how much paper is wasted everyday in the form of billing receipts, invoices, pamphlets generated at shopping malls, ATM’s, metro stations, buses and countless other locations. Not only does it have a detrimental effect on the environment in the form of deforestation, a large number of receipts generated are toxic.
For instance receipts generated from ATM’s are known to be coated with toxic chemicals like BPA and BPS and studies have shown they can wreak havoc on our hormonal systems even if you just touch them.
What if every transaction on your Visa or MasterCard was configured to send digital receipts for purchase made to your mobile apps and phones anywhere in the world. These startups are trying to do exactly that.
Try Flux – www.tryflux.com
This startup directly integrates into mobile banking apps. It has partnered with Monzo to ensure you never miss your receipts again. Regular users stand to win loyalty stamps which can then be redeemed at select retailers.
Bean – usebean.com
Bean helps your manage your active subscriptions and bills. The average Bean user manages to save close to £ 472 every year. You can scan bank accounts to find bills that you have paid and the app will determine if you have paid the right price and suggest alternatives if it thinks you have been overcharged.
FlexReceipts – www.flexreceipts.com
Provides smart receipts that engages your customers. Businesses can gain valuable insights from each sale through it’s custom analytics engine. You can even include product recommendations just like Amazon.
Yreceipts – www.yreceipts.com
The company’s digital receipts system is being used by more than 150 businesses all over the world. Retailers also get access to live customer data. An entrepreneur reported that he receives regular feedback on purchases made at his store from 30% of his clients through Yreceipts.
Digital Receipts In India
One Indian startup InReceipts.com shut shop earlier this year. There is currently no known startup focused only on digital receipts in India but it’s only a matter of time before new ones are launched.
There are currently many money transfer companies that offer payment gateways bundled with digital receipts but none of them have made it their core offering. The space for a digital receipts focused startup is thus wide open in India.