Start-up gives paper receipts the Slyp
Summary
“(Being) super passionate about customer experience, I thought, ‘this is madness’,” the former PayPal executive says of being told to take a photo of a paper receipt with fading ink and email it to himself. “It’s insane that you can tap a card – or even your ring or watch – to make a payment, but you still get handed a centuries old paper receipt.” A few years on, Mr Weingarth today unveiled that the fintech spurred by the experience, Slyp, has raised $2 million in a seed funding round led by NAB Ventures and including Westpac-backed Reinventure. While digital receipts are not new – Apple stores began sending e-receipts as early as 2005 – Slyp doesn’t require customers to provide an email address or mobile number. The receipts also have interactive features such as the ability to click to an items online store to find its user manual or make additional purchases, Uber-style ratings enabling merchants to monitor staff performance and access to loyalty programs. Slyp, co-founded last year by fellow former PayPal colleague Spiro Rokos and ex-ANZ digital technology executive Mike Boyd, is also tackling a major environmental problem.