Commonwealth Bank of Australia (CBA) has partnered with Australian fintech firm Slyp to offer automatic digital payment receipts to its customers.

To enable this service, Slyp’s digital receipt application will be used, which can be integrated into existing banking apps.

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CBA customers will automatically receive an itemised digital receipt in the CommBank app when they pay with their card or digital wallet at participating retailers.

Slyp directly receives the paperless receipt information from the merchant’s point of sale (POS) system and displays it inside the banking app when customers transact using their cards.

Slyp co-founder and CEO Paul Weingarth said: “To deliver a truly ubiquitous industry standard of digital receipts, we knew early on that we would need to partner with the banks.

“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.”

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CBA is now one of the four largest banks in the country to invest in the Sydney-based fintech firm.

The bank will leverage Slyp’s digital receipt solution to allow customers to manage returns, warranties and financial management within the banking app.

CBA retail banking services executive Angus Sullivan said: “Integrating Slyp into our core digital channels, we’re continuing our journey to build smarter banking experiences our customers will love.

“Covid-19 has been a catalyst for retailers to encourage contactless, digital payments in their stores. Digital receipts are a natural extension to this, which will benefit both shoppers and retailers.”