Synchrony Financial is pumping money into flexReceipts, a provider of enriched digital receipts, data analytics and customer engagement solutions. Through its e-receipts functionality, flexReceipts provides retailers with SKU-level data and analytics on transactions, enabling the delivery of customized engagement offers based on behavioral insights.
The investment was made through Synchrony Financial’s Strategic Investments Group, which focuses on investments in early stage companies with potentially game-changing financial technology that enhances innovation in retail financing, loyalty and analytics for retailers, merchants and consumers.
In addition to e-receipts functionality, flexReceipts customers who opt-in to receive digital receipts have the added benefit of obtaining value-added offers while reducing clutter, all while being environmentally-friendly.
flexReceipts, founded in 2011 by Tomas Diaz and Jay Patel, has developed a state-of-the-art technology and platform focused on POS and driving innovative in-store frictionless engagement solutions. flexReceipts’ smart email receipts technology is currently in 7,000 stores of more than 35 retailer brands and is integrated with four leading POS companies.
Synchrony Financial has previously made strategic investments in GPShopper, an integrated mobile commerce platform for retail apps, and LoopPay, the mobile payment platform which was acquired by Samsung and integrated into Samsung Pay in 2015.
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