The receipt is an Internet version of the traditional paper receipt, and can be delivered via e-mail or to a web site database. Deliverable for in-store and online purchases, Digital Receipts can also allow purchase data to be downloaded into personal finance, tax or accounting applications. It enables retailers to reach each customer individually, creating a more useful and convenient medium for reaching online consumers, and ultimately, a more loyal online customer base for retailers. The retail playing field today is rapidly changing with the advent of virtual shopping channels, particularly the Internet, which now represents over three percent of all retail sales. While Digital Receipt technology enables retailers and consumers to have greater interaction, it also enables retailers to narrow the flow of information to suit the profile of each customer.
Retail customers have a diverse set of preferences and needs.
There are millions of small businesses that will also benefit from the availability of a Digital Receipt. Most small business transactions are highly similar to a consumer transaction where the owner or a key employee records the purchase in a checkbook and files the receipt. With the availability of the Digital Receipt, the small business owner can receive the proof of purchase data via e-mail or by downloading from a web site and import the transactions directly into small business accounting and tax applications. In addition, approximately 40 percent of small businesses in the United States are retailers. These retailers depend heavily on the relationship with their neighborhood community of customers.