Virtual expense card provider DiviPay and Slyp, two fintechs sparking change across Australia’s financial landscape have today announced a national partnership to offer businesses in-app digital receipts at the point of sale. In a market first, DiviPay and Slyp will integrate their technologies to enable digital receipts to be accessed automatically through business expense management platforms.
Slyp’s innovative Smart Receipt technology is backed by and built in partnership with Australia’s big four banks. Its technology integrates directly with a merchant’s point-of-sale system, allowing the real-time capture of receipt information and delivery of a Smart Receipt, directly to the customer’s phone. DiviPay, backed by 1895i, formerly ANZi, is Australia’s first all-in-one smart corporate card and expense management platform. The DiviPay platform allows businesses to instantly issue their employees smart corporate cards for in-store and online purchases. This partnership means lengthy reimbursements and expense reports are replaced with an entirely digital journey.
DiviPay users will instantly receive Smart Receipts when paying at a Slyp enabled merchant. The receipts and transaction information will be automatically allocated to the business’ expense report and populated into their connected accounting systems, such as Xero, MYOB and Quickbooks. By removing the need for paper receipts, businesses can also reduce their environmental footprint. Previously, DiviPay would prompt users to manually photograph and upload receipts to their expense management platform after making a purchase. When receipt collection is left to employees, however, DiviPay has found that around 30 per cent are not uploaded. With DiviPay customers having made 185,000 in-store transactions in the past 12 months, the start-up saw a gap that needed to be filled.
Daniel Kniaz, Co-founder and CEO of DiviPay, says: “Up until now, there has been no expense management platform in Australia that allowed businesses to automate receipts from the point-of-sale into an app. Time-consuming uploading of receipts is a common pain point for our customers and we wanted to address the issue quickly, so we could continue to grow and scale DiviPay. Our integration with Slyp is a game-changer for business owners, finance teams, accountants and bookkeepers, who will no longer need to chase receipts from employees or spend hours manually calculating GST figures and populating expense reports with transaction information. We are confident our partnership will encourage more businesses to turn to our platform to assist them in managing and reporting expenses.”
Paul Weingarth, Co-founder and CEO of Slyp, says: “We’re thrilled to partner with DiviPay to enable more customers to utilise our Smart Receipt technology. The Australian fintech ecosystem is thriving and partnerships like this one are helping customers – both business and consumers – benefit from Australian innovation. We look forward to continuing to work together to evolve our offering and bring even more smart technology to the market in the future.”
Slyp Smart Receipts are now available to DiviPay customers at Slyp enabled merchants.