NAB rolls out built-in smart receipts with Australian fintech Slyp

Australian fintech | iTMunch

In a first, Big Four bank National Australia Bank has partnered with Australian fintech Slyp to introduce Smart Receipts as a feature in its mobile banking app. Customers of NAB will automatically receive itemized Smart Receipts from participating retailers directly in the NAB app at the time of purchase.

Few of the participating retailers are Harris Farms, Barbeques Galore, CUE and Chemist Warehouse. It will also be possible for customers to scan and save receipts within the NAB app itself from the non-participating retailers. The bank says that it will be adding hundreds of retailers to its network in the next year.

NAB Executive on partnering with Slyp 

Ana Marinkovic, NAB Executive said the bank often hears from its customers that receipts are not needed or lost, so she thinks smart receipt will make life a lot easier for them. Ms Marinkovic adds that if the customers ever need to look back or share their receipt, it is easily accessible inside the NAB app.

The pandemic has seen retailers move more and faster towards contactless payments. The smart receipts feature will benefit both retailers and consumers as the use of digital payments continues to accelerate, she adds.

Customers of NAB can opt-in for this feature within their NAB mobile app itself. The technology of Slyp integrates seamlessly to the merchant PoS system which allows near real-time captures of the relevant tax receipt data. The platform then creates & matches the smart receipt to the bank cards of customers, sending it directly to the banking app within seconds after the payment is done.

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About Slyp – an Australian fintech

Slyp is a Australian retail-fintech that was founded 3 years ago by Spiro Rokos (Technology Team Lead at PayPal Australia), Paul Weingarth (Sales Team Lead at PayPal Australia) and Mike Boyd (Group Data Officer at ANZ Bank).

The move by NAB to digitize receipts is a big win for the retail-fintech startup, which has designed and developed ‘smart’ and interactive itemized receipts that also reminds customers about return periods and warranties. It also has plans to integrate its platform with bookkeeping platforms to help with tax time in the future.

Paul Weingarth, Co-founder and CEO of Slyp said receipts are always a burden for shoppers, have a negative impact on the environment and create unnecessary cost for businesses. Smart Receipts enable businesses to offer a frictionless and seamless customer experience far beyond what we know it as today. Slyp team is thrilled to collaborate with NAB in bringing Slyp Smart Receipts to millions of Australian customers, said Weingarth.

SEE ALSO: Kogan fined AU$350,000 for inflating prices before offering discounts

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Riddhi Jain is a technology content writer. She is based in India and has been working as a content writer since 2018. Riddhi has been writing content in the tech domain since May 2020 and can’t get enough of it. Riddhi has pursued most of her education from her hometown, Indore. She has graduated as a Bachelor of Business Administration and discovered her love for writing blogs while pursuing an internship during college. Once she discovered her love for writing, she went on to improve this skill set (and hasn’t stopped since). Riddhi’s writing relationship with iTMunch began in May 2020. This is where she developed a knack for writing content for the technology domain. She's an expert in tech content writing who has written over 700 blogs for iTMunch in just a year. Riddhi loves diving deep into tech sub-domains like financial technology, marketing technology, HR technology, Artificial Intelligence and gaming technology. She loves staying updated with the latest and upcoming trends in digital marketing, digital payments, fintech, gaming, web design and app development. She cherishes writing about futuristic technologies like blockchain and cryptocurrency, NFTs, Internet of Things, Facial Recognition, Machine Learning, Edge Computing, etc. Riddhi also likes to keep an eye on what’s going on with the tech titans like Google, Facebook and Apple. One of her major interests is in staying updated with the latest IT startups and the groundbreaking technologies they’re coming up with. When Riddhi is not writing content, she is binging on documentaries on Netflix (check out ‘The Great Hack’, ‘Seaspiracy’, and ‘What the Health’). She also likes reading books once in a while (Yuval Noah Harari and Michelle Magorian are some of her favorite authors). Riddhi also likes listening to podcasts like The Tim Ferriss Show (do listen to the ones with guest Naval Ravikant) and The Joe Rogan Experience.