To deliver interactive customer receipts.

Sydney-based start-up Slyp has developed a new standard for digital tax receipts that will allow retailers to automatically send customers an interactive itemised receipt to their banking app.

After completing a $4 million funding round that included ANZ, NAB, Westpac-backed Reinventure and Westfield ANZ owner and operator, Scentre Group, Slyp has now signed several of Australia’s leading brands onto the platform including Bing Lee, Barbecues Galore, Harris Farm, Cue fashion and San Churro.

Slyp co-founder and former PayPal executive, Paul Weingarth, said that market testing showed that customers want a consistent and intuitive interface for their receipts.

“We have completely reimagined the receipt with customer-centric features like warranty and return reminders, ratings, rewards, product recall alerts and much more. We want to help retailers turn the end of the transaction into the start of a customer relationship. Our research data showed that customers were six times more likely to engage with a Slyp smart receipt than a bespoke digital receipt from a retailer.”

Slyp co-founders Sprio Rokos, Paul Weingarth, Mike Boyd 

The Slyp smart receipt is automatically linked to a customer’s bank card and then displayed inside their banking app, with no change to payment process.

NAB has already trialled the solution and will be the first major bank to integrate Slyp’s capabilities into their mobile banking app later in the year, with the other banks to follow shortly after.

Scentre Group has also formed a strategic partnership with Slyp to drive awareness and adoption of the smart receipt solution to retailer partners in Westfield centres across Australia and New Zealand.

“Scentre Group is pleased to partner with Slyp and support this new technology for our retail partners because it provides a practical solution to improve the customer experience whilst contributing to increased productivity of their businesses,” Scentre Group chief strategy and business development officer, Cynthia Whelan said.

Slyp is now focused on launching the receipt standard across retailers and banks in Australia but the start-up’s ambition is to expand into overseas markets next year.