The Benefits and Dangers of Digital Receipts

HARTFORD, Conn. - Dec. 19, 2013 - PRLog -- The cashless marketplace has yet to materialize, however, the use of paper and coins continues to drop as plastic becomes more popular in stores.  Connecticut Better Business Bureau says, in a growing trend, some merchants are even moving away from printed receipts to digital ones and warns shoppers to understand the benefits and dangers of mobile payment options.

Many retailers—large and small—are adopting point-of-sale (POS) solutions to accommodate the increasing use of debit and credit.  The ease of implementation, gentle learning curve and competitive fees are making smartphone and tablet-based POS options extremely popular.

The Pros

-Only one card needs to be taken along on shopping sprees; carrying large amounts of cash for purchases is impractical and poses theft risks.

-Charges made with debit or credit cards offer built-in protections like zero or limited liability.

-Significant amounts of paper are saved with the use of digital receipts.

-Small vendors can now accept small non-cash payments anywhere, without the fees previously associated with this convenience.

The Cons

-Since payments are typically processed on mobile devices which are not connected to printers, digital receipts are often emailed to customers; but, if email addresses are incorrect or spam filters are overly-aggressive, records of transactions may be lost, making it difficult to return or exchange merchandise.

-Phishing emails with fake receipts can get mixed in with legitimate digital receipts and pose identity theft risks.

-Once companies have email addresses and other personal information, they may be sold to third parties or used to blast “promotional” offers.

Always ask how personal information will be used and consider creating a second email address that will only be used for digital receipts.  Also, it is always a good idea to make sure that digital receipts have arrived in your inbox before leaving the store. Ask for handwritten copies if necessary.