Some 81 percent of U.S. consumers surveyed indicated that they are more likely to shop digitally than in physical stores this year, according to an Amex Trendex report. American Express launched its digital receipts feature to address the online shopping trend and provide card users with additional information about their purchases with specific merchants.
Details provided on digital receipts include the merchant name and logo, order number, date of order, items purchased, details of cost and merchant description, according to the release. The move was launched parallel to Amazon Prime Day, which brought in 6.1 percent more this year than last.
“We know our customers value transparency and rely on us to introduce new products and services that make their lives easier,” said American Express Vice President, Global Merchant Processing and Policy Ramesh Devaraj.
He added that the feature for digital receipts was introduced to some merchants earlier in 2021 and is now being launched with Amazon, with plans to extend the service to additional retailers. The digital receipts tool enables American Express card users to use their smartphones to tap purchase details.
A recent American Express survey showed that 81 percent of consumers indicated that they use digital receipts to help find any fraudulent charges, and 75 percent of respondents said the feature upps their user experience. Further, some 72 percent indicated that digital receipts make it less likely that they would initiate a dispute regarding charges, according to the press release.
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Rolled out in February of this year, the digital receipts function offers transaction details for purchases from Apple, Square, Microsoft, Google, and more. The digital shift has caused an increase in fraud and chargebacks for merchants.
The two-day Amazon Prime Day event this year on June 21 and 22 topped last year’s Cyber Monday event held the Friday after Thanksgiving. Amazon Prime Day also was the biggest two-day period ever for third-party sellers.
