Receept

The Problem

Consumer receipting is largely stuck in analog paper-based systems that make it extremely difficult for consumers to keep track of their spending at an itemized level as well as keep receipts organized for expense reporting, tax preparation, and returns/exchanges. Online banking and credit card statements tell a consumer where they spend their money, but not what they have spent it on.

Merchants and brands struggle to understand their target audiences and loyal consumers through current methods. Consumer surveys are limited to the consumer’s perception of behavior rather than real objective data. Merchant loyalty programs allow merchants to connect purchase behavior in store, but offer no insight into who their customers are outside their walls. Brands are forced to rely on delayed purchase data to find out when they have sold how much of their product, but rarely are able to connect that purchase to a particular consumer, let alone recognize when consumers loyally purchase their products across merchants.

The Solution

Consumers can easily save and organize their receipts by capturing their photos with their smartphone camera or forwarding emailed receipts which are parsed for them to an itemized level. As a result, they gain control of their own purchase story for use in personal finance tracking, expense reporting, tax preparation, and returns/exchanges.

Merchants can develop links with their customers by delivering electronic receipts through the platform, allowing them to connect to the personal purchase stories and see the anonymous aggregated purchase patterns of their customer base even beyond their store. Brands and manufacturers can additionally recognize cross-merchant purchase patterns by their loyal customers and engage and reward these consumers for their brand loyalty.

Receept is a platform for assembling a consumer’s personal purchase history through the delivery and aggregation of purchase receipts.