One of National Australia Bank's biggest customers, Chemist Warehouse, will offer shoppers the option of itemised, digital receipts, using Slyp technology which is backed by the major lenders.
Slyp technology has now gone live across 460 stores across the country with smart receipts being delivered to customers via the NAB mobile banking app.
More than 120,000 NAB customers have already opted to ditch paper receipts and use their mobile banking app to see details of all their spending.
The high number of customers ensures that NAB and Slyp are on track to make digital receipts used by half of all Australians by the middle of next year, the bank said in a release.
Although technology has helped transform most part of the payments sector in recent years, yet receipts continue to be mostly paper based.
“The explosion of new technology is making many things extinct and traditional paper receipts are no exception,” said Andrew Irvine, group executive for NAB’s business and private bank.
“Paper receipts are often a pain for both businesses and their customers. Getting digital receipts within the NAB app just makes more sense and will make life a lot easier for our customers.
Environmentally friendly receipts
Stressing the importance of environmentally friendly receipts, Paul Weingarth, Slyp co-founder and chief executive, said the fintech was on a mission to eradicate paper receipts from the retail sector and make sure that by this time next year, half the population has access to smart receipts.
“The retail sector has been calling for a smart alternative for years and the uptake we’ve seen in recent months tells us that both merchants and their customers firmly agree," he added.
Weingarth argued that for Chemist Warehouse customers, the delivery of smart receipts via SMS or through their bank app will provide an environmentally friendly, digital record of their purchase.
“With the backing of NAB, further support and integration with other major banks, and by partnering with leading retailers like Chemist Warehouse, we’re on a path to transform the Australian retail sector, streamline the payments process and bring retailers closer to their customers while saving our environment from unnecessary destruction,” he said.
Chemist Warehouse chairman and co-founder Jack Gance also strongly pushed the environmental theme.
“We’re delighted to have launched Slyp Smart Receipts to improve our environmental footprint and simplify the checkout process for both our customers and our retailers.
“Intuitive and easily accessible, smart receipts are the next, logical step forward in the transformation of the retail experience and move towards a more sustainable in-store approach.”