Digital Receipt Standard

On average, a consumer receives two to three receipts per day, while more than half of the printed receipts are directly thrown away. This immense production of thermal paper receipts amounts to 10 million tons of global waste annually. The chemicals in thermal paper do not only make them non-recyclable. Because they also introduce phenol into the stream, the food and water resources are also contaminated with the chemicals. Therefore, eliminating paper receipts and employing digital receipts instead is a much more sustainable and environmentally friendly alternative.

Source:icon-library.com/icon/receipt-icon-15.html

Digital receipts are increasingly becoming a trend on the market. The Digital Receipt Standard provides a framework for digital receipt companies for including individual carbon footprint data based on the Open Payment Standard on their digital receipts. Both the digital receipt companies as well as those who employ the Open Payment Standard methodology to calculate consumer carbon footprints use a categorization scheme for the transactions. This means that they classify the transactions according to certain spending categories. As digital receipt providers usually use their own categorization scheme, it is necessary to map or link these spending categories with the spending categories from the Open Banking Standard. This mapping enables digital receipt companies to offer their customers an estimation of their individual carbon footprints based on their transactions. In this sense, this is a great chance for digital receipt providers to further promote and expand their sustainability efforts.