Barclays to trial instant digital receipts
Written by Chris Lemmon
Barclays has partnered with Flux to trial instant itemised digital receipts with 10,000 customers via the bank’s Launchpad app.
Customers taking part in the trial will see their receipts in real time, including all purchases, with VAT, delivered directly to their Barclays app. Users can take ownership of their financial data by going paperless and keeping track of everything they buy without having to download extra apps or changing behaviour. Successful pilots are then rolled out to the five million customers using the Barclays mobile banking app.
In addition to delivering receipts to Barclays customers, this trial also sees Flux partnering with Barclaycard, which helps businesses to accept payments. Barclaycard will provide the ability for merchants, via integration through their point-of-sale devices, to issue digital receipts to any customer from a participating bank which is enrolled into the Flux service.
Currently this includes Starling Bank cardholders and Monzo Bank in pilot, who will have receipts sent straight to their mobile banking app. Barclaycard and Flux have now launched across all EAT stores and, should the pilot prove successful, may look to add more retailers next year.
Flux has a UK patent pending algorithm that works by linking purchases to bank cards via a software integration to the retailer’s point of sale. The technology makes the purchase more useful to the customer, gets rid of paper and shortens time at checkout.
Michael Harte, group head of innovation at Barclays said “Through the Group Innovation Office and Rise, our open innovation community, we continue to partner with FinTechs to experiment and test new ideas. We are delighted to be trialling Flux technology as part of our ongoing efforts to improve the experience we offer our customers.”
Matty Cusden-Ross, co-founder and CEO of Flux, said: “We believe that Flux is the next biggest innovation for retail payments since contactless. Nobody wants to keep track of hundreds of bits of paper in the 21st century. We are determined to digitise the world’s receipts by linking to how customers pay anyways so we don’t change behavior at checkout. We are excited to demonstrate the benefits of Flux to Barclays customers.”