RIP Global, a Maori-owned FinTech company, has transformed the business expense process with their contactless solution – RIP Expenses.
The company has built and patented a process that enables users to get their transaction data directly from the point of sale and feed it into their accounting systems, via approval flows in the RIP Expenses app.
While the technology was released months prior to Covid-19, the solution now equips businesses and merchants in more ways than one.
On one hand, RIP Expenses empowers businesses with an end-to-end automated expense process, eliminating fraud and increasing operational efficiency. Additionally, it provides merchants with faster till transactions and no paper receipts – at no cost.
On the other hand, the contactless solution provides an extra level of safety and hygiene at the point of sale, for both the customer and the merchant in these ever-changing times.
Contactless transactions and QR code technology have both been fast-tracked by Covid-19, building on their increasing popularity in years prior.
Contactless payments are now being utilised for their health and safety benefits, with many stores even opting to go “cash-free”; while QR code technology has been swept up in everything from contact tracing methods through to contactless menus.
Though, what is often forgotten about is the humble receipt, says Mel Gollan, RIP Global Founder and CEO.
RIP Expenses marries the two mechanics, enabling receipt data to be received in a contactless manner, through QR code technology.
“The world is embracing contactless payments now more than ever due to our current climate,” says Mel. “Our contactless receipts and expense technology is free for merchants and only enhances that experience.
“Not only is it great for the health and safety of merchants and their customers, but it is also a massive leap forward in reducing the carbon footprint the trillions of carcinogenic, PBA enriched bits of paper create.”