National Australia Bank (NAB) launches Slyp Smart Receipts

By Edil Corneille

National Australia Bank (NAB) announced the launch of Slyp Smart Receipts via the NAB Mobile app which is said to significantly reduce the requirement for paper receipts. Developed in partnership with Australian retail-FinTech Slyp, NAB customers will automatically receive itemised smart receipts from participating retailers delivered into the NAB app when they make a purchase.

NAB Executive, Ana Marinkovic said bringing the feature to the NAB mobile app creates an easier and more personalised experience for customers.

“We often hear from customers that receipts are lost or not needed, so we think the smart receipt will make life a lot easier for them. If the customer ever needs to look back or share the receipt, it’s there inside the NAB app,” Marinkovic said.

“COVID-19 has seen retailers move more and more to contactless payments. This feature will benefit both consumers and retailers as the use of digital payments continues to rise.”

Customers can opt-in to the feature within their NAB mobile app. While Slyp technology integrates directly to the merchant point of sale system, allowing near real-time capture of the relevant tax receipt information. The Slyp platform then creates and matches the smart receipt to the customer’s bank card, sending it directly to the customers banking app within seconds post-payment.

“We are thrilled to partner with NAB in bringing Slyp Smart Receipts to millions of customers Australia wide,” said Paul Weingarth, CEO and co-founder of Slyp.

“Receipts are a burden for customers, create unnecessary cost for businesses and have a negative impact to our environment. The introduction of smart receipts allows businesses to offer a seamless and frictionless customer experience far beyond what we know it as today.”

Jack Gance, Chairman & Co Founder of Chemist Warehouse Group said, “We are excited about the opportunity to participate in the innovative digital receipt program NAB and Slyp have brought to market. We are sure that Slyp will add value and enhance the unique Chemist Warehouse experience.”

Slyp Smart Receipts are already available in a number of national retailers including (select stores) Chemist Warehouse, CUE, Barbeques Galore, Harris Farm, Industry Beans and Watsons Bay Boutique Hotel, with hundreds of additional retailers expected to join the network in 2021. NAB will continue to work with Slyp in evolving the offering and rolling out additional features in 2021. NAB customers can also continue to scan and save receipts within the NAB Mobile App from non-participating retailers.