With use of digital receipts on the rise, their potential for consumer insight is grabbing attention
- Covid-19 is accelerating the spread of digital receipts.
- And with the increase of digital receipts comes the increase of consumer data. Financial institutions and big tech want in.
With Covid-19 accelerating all things digital, digital receipts too have begun to tip-toe onto the scene.
In August 2020, supermarket chain Schnucks started allowing shoppers who were members of its loyalty program to choose between electronic and paper receipts. In October, Flux, a fintech that enables digital receipts, partnered with H&M to enable digital receipts at the clothing chain’s locations.
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Digital receipts seem to have stretched into this year as well. In February, Flux partnered with Barclays to allow all UK Barclays debit card holders to choose electronic receipts following transactions. That same month, American Express launched its digital receipts feature for its U.S. users.
Digital receipts’ tiptoeing could turn into a confident gait. 81% of consumers reported that digital receipts would help them differentiate between fraudulent and legitimate transactions, according to a recent survey by Amex. At the same time, 79% of merchants said digital receipts could help them avoid unnecessary chargebacks or disputes.
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