Article by: Je Yaranon | September 2020
Receipts act as a security for merchants and customers. Many tend not to keep it after checkout, but that piece of paper is an official record that may aid them in various future references.
Since we’ve progressed into a more modernized purchasing process, digital-based receipts have become one of the new “in” things in business today too – as it probably should. It carries many benefits that go beyond merchants and customers.
It also helps that it’s becoming a trend in the United States and United Kingdom, two of the most influential countries in the world.
Let’s quickly define digital receipts and discuss how it works before naming the reasons:
What are digital receipts?
A digital receipt is any receipt that is given in a soft copy form. While it usually depends on the store, the most common are sent via e-mail or SMS.
How does it work?
The method may vary, but the most usual process is as follows:
Now, let’s get into the reasons:
Printing papers require cutting countless number of trees, which is ultimately costing everyone a greener and healthier environment. Supplying your business with papers can cost a lot too, and it cuts into the profit.
Such issues won’t be present with digital receipts. You can create and send as many as you please without sacrificing the environment or your health, and/or blowing up your business’s operating costs.
Addressing customer satisfaction should always be a top priority, and in the modern age of payment processing, that satisfaction is turning the traditional ways into digital form. Unlike printed receipts, the digital version doesn’t fade and basically impossible to lose. Unless the user deletes it permanently, it will always be in the e-mail/SMS inbox.
It’s always good to capitalize on a marketing opportunity, and such a window is opened when you can send highly customizable content to customers. It’s basically an extended communication!
The lone requirement of digital receipts is the purchase or transaction summary, so beyond that, you have free rein of what you can put – tags, personalized messages, logos, etc. are all welcomed.
While you can also insert such content on printed receipts, it may be very costly and not as impactful.
Social distancing is an absolute must right now, and when it comes to payment processing, offering digital receipts is a great way to support the worldwide guideline. It helps reduce the interaction and everyone can still proceed knowing that the transaction is completed and validated.
As VeritasPay continues to provide high-quality payment solutions and promote cashless transactions, the company is also dedicated in bringing in fresh and informative content. We’ll be continuing to share new articles about our products, services, and varying subjects within the industry as we move forward.
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