An innovation in paper receipts: the electronic receipt management system

The problem our team addresses is best communicated in the following question: Given the number of merchants, consumers, and financial institutions in the U.S., how can we build a record-keeping system that improves the usability, accessibility, and sustainability of consumer transaction records? A recent study shows that 80% of the U.S. population receives one to three receipts a day, 11% of which immediately get thrown away. With America´s retailers generating approximately 228.7 million pounds of receipt paper per year, this translates to 22.87 million pounds of paper that instantly become trash. Further, the current system does not make receipts readily accessible to merchants and consumers when they need them. In this project, our team aims to improve the management of consumer transaction records while reducing the number of receipts printed in the United States. A solution to this problem will also provide consumers with a more convenient way to monitor their spending habits. The system is composed of four parts: a web-based user interface, a mock cash register, a receipt management database, and an XML protocol that communicates between the cash register and the receipt database. If implemented on a national scale, this electronic receipt management system would allow users (merchants, consumers, and financial institutions) access to all receipt data in one location and in one consistent format, thereby eliminating the need for paper receipts.