Receet

It is undeniable that we are living in a new era defined by the latest tech innovations and digital solutions. However, retailers around the world have yet to capitalize on new technologies that are revolutionizing the retail industry to meet the growing needs of socially and economically conscious consumers. One such technology that has the potential to save retailers millions while delivering an impact, is the simple adoption of digital receipts. 

One of the first tech companies based out of Palestine working to capitalize on the digital revolution sweeping the globe while delivering an impact is Receet. Established in December 2017, Receet is a mobile application that pushes smart digital receipts directly to the consumers’ phone. Using NFC and Bluetooth technologies, users can get their smart digital receipt by simply approaching or tapping Receet’s dedicated hardware device (small beacon) placed in front of the Point of Sale (POS) terminal or in some cases an iPad or iPhone. 

The team behind Receet includes Founder and CEO Omar Barkawi; Director of Business Development Dina Teeti; engineers Wala Abdul Aziz and Amjad Qadomi on the mobile development front. Rounding off the team is Backend Engineer Safa Dureidi and Frontend Engineer Jawad Ikbaria.  

Although the inspiration behind Receet emerged from Barkawi’s singular experience relocating with his family to the United States, the idea is quite relatable to the common consumer, “In 2015, I got relocated with my job to work for two years in the United States and with my move being a business move, I needed to keep track of my receipts for reimbursement,” he says. However, the receipts started to pile up, “I went from having one small box to three big boxes full of receipts, and that’s where the idea of Receet stemmed from. I thought why isn’t there an application where I can store all of my receipts and the power to categorize, filter and share them with work all from my phone.” 

What sets Receet apart from their competitors specialized in email receipts, is the ease of use, security, and simplicity of the whole process. Customers using Receet do not have to spend the extra time waiting in long lines to then give away their private information including their email address, home address, mobile numbers and many times details of their bank account. The potential misuse of data could destroy the trust between retailers and customers, ultimately negatively affecting company reputation. Email receipts are also many times lost in a sea of unread emails and even sent to spam, making it difficult for customers to find receipts and keep them organized. Receet takes all of these factors into consideration to ensure that receipts are delivered instantly to customers while all information remains private and secure. 

In fact, Receet is built to address some of the biggest concerns facing the retail industry today, creating a solution that appeals to both consumers and retailers alike. On the user end, Receet allows consumers to instantly store and categorize their receipts all in one place. Privacy is also a major issue for consumers, which is why Receet encrypts all data transfers with the added bonus that users do not have to share any of their personal information to get their receipts. 

Environmental concerns are also a major factor that plays into the appeal of Receet, “The most recent studies tell us that in the United States alone over 10 million trees, 250 million gallons of oil and 21 billion gallons of water are consumed in the making of paper receipts producing over 4 billion pounds of CO2,” says Barkawi. Furthermore, receipts are printed on paper coated with Bisphenol-A (BPA) or Bisphenol-S (BPS) chemicals which are not only non-recyclable but linked to major health hazards. 

Although Receet is developed with the consumer in mind, they are directly targeting retailers as well. Retailers can easily register their locations to create dynamic and personalized profiles that are included with the consumers’ digital receipt. “The possibilities to create customized receipts for retailers is endless,” says Teeti. “Retailers can include promotional offers based on the individual consumers’ purchases and for bigger items even include assembly videos for certain items, there are just so many opportunities to create customized promotions that keep consumers informed and coming back.” 

Receet is initially targeting markets in Europe and the United States, with a particular focus on the UK and Finland. “Markets across Europe have recently adopted the 2020 goal set by the World Summit on Sustainable Development to both minimize and to a certain extent ban the use of harmful thermal chemicals such as BPAs that many people do not know coat printed receipts,” says Teeti. 

In order to expand outreach, the receet team attends various retail and technology conferences and events across Europe and the United States, raising awareness, increasing exposure, and scoring potential clients and funding in the process. “As we move forward, we will also be investing time and money into digital marketing to reach both potential customers and end users,” says Barkawi. After establishing their presence in targeted markets, Barkawi is looking to build a “hyper-personalized marketing platform where customers can get personalized deals inside the Receet app based on their shopping behavior.” 

In order to sustainably scale and integrate into new markets worldwide, Barkawi is working on raising funds for Receet’s pre-series A stage, which is around 750K – 1M USD. Additionally, “We are looking for partners and investors to support us with the right mentorship and more importantly connections and introductions to potential partners such as Point of Sales system companies, potential customers and the pioneers in the retail innovation and technology fields,” says Barkawi.  

With the potential to save retailers millions of dollars, consumers precious time, and the positive ramifications on the environment, the impact of Receet cannot be overstated. Receet also puts a spotlight on Palestinian based innovation and talent, “With creating such an innovative technology, we are also focusing on shedding light on Palestine and its abilities. Our people are smart, ambitious and just as qualified as others,” says Barkawi. “Despite the borders and restrictions, we are capable of great things and through Receet we will make a great impact worldwide!”

To learn more visit: https://www.getreceet.com

And on Facebook: @receetinc