Receipts go digital as CommBank partners with fintech Slyp

Commonwealth Bank customers can get a digital copy of their receipts sent straight to their smartphones under a new partnership between the major bank and Sydney-based fintech Slyp. 

Slyp’s ‘smart receipt’ technology will be embedded in the CommBank App - a 2020 Mozo Experts Choice Award winner for Excellent Banking App - allowing users to receive a digital copy of their receipts in the app after they pay using a debit card, credit card or digital wallet at participating stores.  

Not only is the technology hoped to help reduce paper waste, but also to make life easier for users when organising receipts at tax time and when accessing them for warranty or refund purposes. 

“We are thrilled to partner with the team at Slyp. Their technology provides an intuitive solution to an everyday problem for our seven million digitally active customers,” said Commonwealth Bank group executive retail banking services, Angus Sullivan. 

“The partnership is also an example of the bank’s goal of leading in technology. Integrating Slyp into our core digital channels, we're continuing our journey to build smarter banking experiences our customers will love.”

Figures released by CommBank last month revealed that there has been a COVID-19 driven uptick in the number of Australians embracing digital wallets as hygiene continues to stay front of mind - a trend that’s made today’s announcement even more timely, says Sullivan. 

“COVID-19 has been a catalyst for retailers to encourage contactless, digital payments in their stores. Digital receipts are a natural extension to this, which will benefit both shoppers and retailers,” he said.

Commonwealth Bank users are just the latest Australian banking customers to have access to digital receipts as NAB customers have had the same capability for months following a partnership between Slyp and NAB last year. 

And judging by comments from Slyp Co-founder and CEO, Paul Weingarth, the fintech has its sights set on bringing digital receipts to even more Aussie banking customers in the near future.

“This latest partnership with CommBank is a major breakthrough for the Slyp network. To deliver a truly ubiquitous industry standard of digital receipts, we knew early on that we would need to partner with the banks,” he said.  

“Now, with their backing we are in a strong position to push towards eliminating paper receipts and provide retailers and banks with a new way to delight and engage their customers post-payment.”

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