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E-invoicing, SCF & E-procurement

Barclays offers tryout digital receipts to customers with Flux

Monday 13 November 2017 | 12:15 PM CET

Barclays is offering their customers a limited tryout period for itemised digital receipts in partnership with Flux, a startup provider of automated bank receipts.

The upcoming trial will take place with the estimated 10,000 users of the Barclays Launchpad app, the bank’s platform for testing new features with real customers to learn more about how best to meet their needs.

Customers taking part in the trial will see their receipts in real time, including all purchases, with VAT, delivered directly to their Barclays app. Users can take ownership of their financial data by going paperless and keeping track of everything they buy without having to download extra apps or changing any behaviour.

Successful pilots are then rolled out to the five million customers using the Barclays Mobile Banking App. Work is progressing on the trial and the pilot will be live as soon as possible. Although Barclays will be Flux’s first Tier One Bank partnership, the start-up has already collaborated with other banks like Starling Bank.

Like contactless, Flux is closely connected to both the issuing and acquiring sides of the Bank. In addition to delivering receipts to Barclays customers, this trial also sees Flux partnering with Barclaycard, which helps businesses to accept payments. Barclaycard will provide the ability for merchants, via integration through their point of-sale devices, to issue digital receipts to any customer from a participating bank who is enrolled into the Flux service.

Currently this includes Starling Bank cardholders and Monzo Bank in pilot, who will have receipts sent straight to their mobile banking app. Barclaycard and Flux have now launched across all EAT stores and, should the pilot prove successful, may look to add more retailers next year.

Flux has a UK patent pending algorithm that works by linking purchases to bank cards via a software integration to the retailer’s point of sale. The technology makes the purchase more useful to the customer, gets rid of paper and shortens time at checkout.

Flux was part of the 2017 Barclays Accelerator powered by Techstars, part of Barclays’ core commitment to innovation and technology. This pilot highlights the success of the Barclays Accelerator which has truly created a platform for experimentation to build and test new technologies.

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