The State of Receipts is in Flux

by Startacus Admin

Receipts are annoying, easily-lost, tree-murdering, messy things that we are often tempted to throw straight in the bin even when we know we need to keep them. They are among those little, unimposing things that nevertheless get in the way. Surely in this digital age, we should have some kind of digital solution for this. Well, it’s funny you should say that, because we’re looking at one now!

Flux is a London-based startup looking to solve the irritating issue of receipts (and loyalty cards to boot).

The idea is simple: every time you pay for something with your card, the payment information is sent straight through your bank to the Flux app, showing you everything a normal receipt would. The same goes for the loyalty stamps - they are automatically ticked off based on what you have purchased, and will refund the cost of, for example, every 8th cup of coffee. You’ll never again get to the till only to realised you left your fully loaded loyalty card in a drawer somewhere.

On the retailer’s side, Flux provides anonymised data on their customers, receipt and loyalty programme insights, and the ability to create specific loyalty programmes. There is no extra hardware or training necessary, making it a simple and non-intrusive system that runs automatically, in the background.

Currently, Flux is available for Starling Bank, in a closed pilot with Monzo bank, and trialling with 10,000 Barclays customers. It is also available in a limited capacity in retailers, with 111 EAT outlets around London and Bel-Air Shoreditch currently the only locations it can be used.

With how simple and useful Flux is, and the fact that they have very recently raised $1.5m (£1.1m) in Seed funding, we can however, see it catching on quickly and scaling nationwide. 

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• #innovation
• #retail
• #loyalty
• #flux
• #receipts
• #fintech

Published on: 8th October 2017