If you are a small business you will know that it is important to keep your receipts for when it comes time to doing your tax returns.
But they can be a nuisance to store and, in many cases, the chemical coating on paper receipts means that over time the print fades, so you may need to scan or photocopy them to preserve them as proof of expenses if needed.
However, the challenger bank Monzo has announced that it is working with startup Flux to get rid of paper and introduce digital loyalty cards, according to an article in Wired magazine.
“From January 30, customers of Monzo, the unicorn digital bank with those flashy coral cards, will be able to get itemised receipts from four food retailers – Pod, Pure, EAT and Itsu – sent immediately to their app,” it says.
Part of the motivation according to Wired is that Flux is doing its best for the environment by reducing waste and toxins. Most till receipts are made from non-recyclable thermal paper.
Cyber security update
The internet security company Symantec has revealed that more than 4,800 websites a month are being hit by “form-jacking” attacks where by cyber-thieves implant code to scoop up payment card numbers.
Among the victims have been BA and Ticketmaster.
Symantec says that as more businesses are taking steps to protect themselves against cybercrime, and other techniques such as ransomware are proving less lucrative, thieves are turning to this method of implanting “attack code”.
Symantec calculated that it had stopped more than 3.7 million form-jacking attacks last year.