Flux delivers real-time receipts, including item data and VAT, directly to customer’s mobile banking apps. Flux does this by linking purchases to bank cards via a software integration to the retailer’s point of sale.
The pilot with EAT and Bel-Air will take place in London EC1/EC2 located stores. Flux will also trial their offering with Monzo, the recently launched challenger bank.
Monzo customers can link their card to the Flux platform and from there, pay as normal at participating EAT or Bel-Air stores. Flux then delivers their full receipt and any e-stamps on offer in real-time to their Monzo app.
Flux was founded in June 2016 by former Revolut employees Tom, Matty and Veronique who were 1st, 2nd and 4th respectively. They founded Flux when they saw the tipping point in payments technology that could enable their solution to effortlessly remove paper receipts from the transaction cycle.
Currently, when a customer looks at their bank statement they can only see the retailer’s name, the total amount and the date. But Flux will complete the picture by showing each item bought and provide additional value by linking connected information, such as e-stamps, to those items. Flux enables retailers to better understand and engage consumers, whilst in turn giving consumers a personalised digital experience.
“We built Flux because it’s completely insane that today we pay with 21st century contactless and are still handed a 100 BC paper receipt. We are determined to digitise the world’s receipts by linking them to the way we pay. Today we’re excited to announce that we’re launching with partners who share that vision,” says Matty Cusden-Ross CEO, Founder of Flux.
“EAT was the first UK retailer to launch contactless payments and are happy to announce that once again we’re breaking ground as the first retailer in the UK to pilot a receipt solution that adds no time at till because it’s simply linked to how people pay,” says Andrew Walker, CEO of EAT.
“We’re excited to see the Flux platform and look forward to a world in which paper receipts are a thing of the past.” says Tom Blomfield, CEO of Monzo.