if you think about it, the receipt is, in many ways, an extension of the payment transaction itself — a more detailed version. Why not store it against that? I’m sure there would be a huge show of hands if I asked how many times anyone has looked at their bank statement and wondered about the details of a particular transaction; whether it is an unfamiliar business name or just wanting to be reminded of what they bought at the hardware store a few weeks back. Accountants spend countless hours trying to marry the two together – why not have it done automatically?
Consider a solution whereby, at the point of sale, a digital version of the receipt is transferred along with the payment transaction to your bank or financial institution. Consumers would have one place for all their receipts and could access them by simply logging in to their bank account via PC or tablet or maybe a digital wallet on their smartphone.