Commonwealth Bank (CBA) announced it had partnered with Slyp on Monday, allowing its customers to automatically receive an itemised digital receipt through the CommBank app when they pay with their card or digital wallet at participating retailers.

The app aims to make it easier for customers to manage returns, warranties and financial management, while doing away with paper receipts. 

Commonwealth Bank Group Executive Retail Banking Services Angus Sullivan said the fintech would further extend the capabilities of CBA's "industry-leading" app.

“We are thrilled to partner with the team at Slyp. Their technology provides an intuitive solution to an everyday problem for our seven million digitally active customers," Mr Sullivan said.

“The partnership is also an example of the bank’s goal of leading in technology.

"Integrating Slyp into our core digital channels, we're continuing our journey to build smarter banking experiences our customers will love.” 

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Provider

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Savings Account (Amounts < $250k)

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  • Download the App to open your account
  • No monthly fees on any of your Save accounts
  • Deposit $200 per month to activate bonus interest

Save Account

  • Download the App to open your account
  • No monthly fees on any of your Save accounts
  • Deposit $200 per month to activate bonus interest
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  • For deposit amounts $0 - $49,999
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Savings Accelerator (Amounts < $50000)

  • For deposit amounts $0 - $49,999
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  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month

Savings Maximiser (<$100k)

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions
  • Grow your savings balance each month
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  • Earn up to 5.40% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money

Saver Account (<$250k)

  • Earn up to 5.40% pa by depositing $1,000 in the previous month
  • No account fees
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HomeME Savings Account ($0 - $100,000)

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    Growth Saver ($1 - $25k)

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      For customers aged 14-35 years
      For customers aged 14-35 years

      Future Saver Account ( < $50k)

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        • Maximum Age - 24

        Goal Saver

        • Maximum Age - 24
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        Boost Saver

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          Reward Saver Account (31 years +) ($0-$100k)

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            Bonus Saver Account (Amounts < $100k)

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              Reward Saver Kick Start (Amounts ≤ $1m)

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                Life (< 30 years) (Monthly deposit)

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                  NetBank Saver

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                    ANZ Save

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                      Young Saver Account

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                        Save up

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                          Bonus Saver (<$1 Million)

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                            Smart Saver Account (Under 25)

                              Important Information and Comparison Rate Warning

                              All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of June 24, 2024. View disclaimer.

                              CBA's investment makes Slyp the first independent fintech to have the backing of all four major banks, after NAB and Westpac invested in 2018 while ANZ came on board in September 2019.

                              With the large majority of Australians banking with the big four, the Slyp platform presents the opportunity to create a unified digital receipt standard. 

                              CEO and co-founder of Slyp Paul Weingarth said the partnership with CBA was a major breakthrough for the company. 

                              "To deliver a truly ubiquitous industry standard of digital receipts, we knew early on that we would need to partner with the banks," Mr Weingarth said.

                              "Now, with their backing we are in a strong position to push towards eliminating paper receipts and provide retailers and banks with a new way to delight and engage their customers post-payment.”

                              Slyp directly integrates the receipt information from the merchant’s point of sale system, matching it to the customer’s card and displays it inside their banking app.

                              Slyp - Smart Receipts in your banking app! from Slyp on Vimeo.

                              Mr Sullivan said the new technology couldn't come at a more opportune time, given the increased focus on hygiene due to COVID-19 making cashless payments the preferred way to pay. 

                              “COVID-19 has been a catalyst for retailers to encourage contactless, digital payments in their stores," he said.

                              "Digital receipts are a natural extension to this, which will benefit both shoppers and retailers.”

                              Retailers already signed onto the Slyp app include Harris Farm, Bing Lee, Cue fashion and Barbeques Galore.