Slyp, the Aussie startup that is changing the way retailers handle receipts, has announced its latest partnership with NAB and Chemist Warehouse.
The health retailer, which is expanding its digital strategy, currently prints out more than 2.2 million receipts every week.
As such, Chemist Warehouse is becoming the first business to entirely remove paper receipts, and instead sends the receipts to the customer via SMS or email. This isn’t anything new, as retailers like Glassons and JB Hi-Fi regularly offer their in-store shoppers the option of a digital receipt. However, Slyp’s technology sends the receipt directly to the shopper’s banking app or BNPL platform.
Slyp was founded by ex-PayPal execs Paul Weingarth, Spiro Rokos and Mike Boyd in 2017 and had a soft launch in December last year. The tech has the backing of the big four banks in Australia, with NAB taking up the tech and exclusively offering the smart receipts to users. Since its soft launch, it has garnered 120,000 NAB users sign up, with over 20 retailers now use this platform, including CUE, Harris Farm and General Pants Co.
“We’re on a mission to eradicate paper receipts from the retail sector and make sure that by this time next year – whether through their banking app, in-store or via their BNPL provider – one in two Australians have access to the smart receipt experience,” said Weignarth, the Co-Founder and CEO of Slyp.
“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. 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.
Digital receipts aren’t just better for the planet, but they’re also a more convenient solution to the traditional paper format. “Paper receipts are often a pain for both businesses and their customers,” said Andrew Irvine, the Group Executive for NAB Business and Private Bank. “Getting digital receipts within the NAB app just makes more sense and will make life a lot easier for our customers. That’s what any new tech should be about.”
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