Tapping Into The Benefits Of Item-Level Receipt Data

US Banks Plan 2023 Investments in Receipt Data Innovation

Why are 68% of highly data-ready banks and FinTechs investing in receipt data technology? In “Tapping Into The Benefits Of Item-Level Receipt Data,” a collaboration with Banyan, PYMNTS surveyed 351 bank and FinTech executives to examine how firms can leverage receipt data to track consumer spending, prevent fraud and strengthen consumer relationships.

Inside the October Report
  • 55%: Share of FinTechs generating more than $500 million in annual revenue that utilize receipt data for most or all of their operations
  • 41%: Share of banks and FinTechs that are very or extremely interested in using receipt data to mitigate fraud
  • 78%: Share of firms highly interested in using receipt data to manage loyalty and shopping offerings that believe consumers would switch to institutions that provide solutions that use receipt data

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