Now, when a business owner swipes their card at a Paymark Eftpos terminal, Paypr will generate a digital receipt in real time, which is sent directly to their Xero account.
There is no requirement for businesses to do anything to their payment terminals – shops, cafes, bars, restaurants, and service stations – can now provide digital receipts through Paypr.
Paymark chief marketing officer Tim McFarlane says the system provides a 100 percent accurate record in real time to the customer.
“It means that customers won’t need to ask for a receipt, which will save staff in places like a busy café.”
Paypr is the first system in the world to connect the entire payment process in digital form, from swiping your card through to inputting the expense into your accounting system.
"The fact we have paper receipts is a throwback to the old days of paper book keeping. These days our payments are typically digital, our expense management systems are digital, but in the middle we get given this piece of paper.”
Paypr has begun having conversations with retailers about what it could mean for them, and plan on developing a merchant-facing app. “It will save on spikes reconciliation and will essentially be a digital receipt vault,” he says.