Receipts are like fluff. They appear in all manner of places, at the bottom of an empty pocket, down the side of a dusty shelf or littering a crammed drawer. They tell a detailed story of our purchasing history, often down to the very second. However, we find they barely ever surface when we need them most, nowhere to be found in the prodigious amount of places they are so often scattered. Fortunately, receipts may soon be a thing of the past, making our lives and the planet a better place.
According to the “Skip The Slip Report”, recently published by Green America, receipts cost the environment over 13 billion gallons of water, 12.4 million trees and 250 million gallons of oil a year, and 4 billion pounds of CO2 in the US alone. A lot of material for something that will probably end up scrunched up in a pocket or purse.
However, there is a solution. An Australian based startup which featured in the aforementioned “Skip The Slip Report,” TillBilly, the world’s first blockchain powered “tap and go” Point of Sale terminal, today announces its Initial Coin Offering (ICO) to revolutionize the way we go about everyday purchases. The company hopes to bring blockchain to the mainstream, enhancing the lives of the shoppers by making the retail experience easier, quicker and more transparent.
TillBilly works to make shopping a seamless experience for both consumers and businesses by integrating contactless payments, digital receipts and reward points into a single blockchain powered Point of Sale system. Merchants are provided with a point of sale machine, with which shoppers can pay for everyday goods using cards loaded with their cash or TillBilly’s very own cryptocurrency, BILL. Transaction history, receipts, and loyalty points can be accessed via the TillBilly app.
The ICO will see three rounds – a private, public-presale and public sale. In total, some 186,000,000 tokens will be available which will allow for 100,000 terminals to be installed and activated with the TillBilly payment and digital receipt network.
TillBilly’s key benefits for shoppers and merchants using the system are that it offers price protection against cryptocurrency market volatility and has a convenient loyalty management system that does not require users to carry dozens of loyalty cards or scan them during checkout.
Both shoppers and merchants win as shoppers always pay less than the price tag as TillBilly allows a portion of the transaction fee to be shared with the shopper. And merchants pay 50-80% less fee than current card transactions. TillBilly also aims to make paper receipts a thing of the past, as all the information from the transaction is sent to the user’s phone in a single digital receipt. This is beneficial as retailers spend a fortune on paper receipts every year, while buyers can help the environment and rid their wallets and purses of needless papers.
“We are extremely excited about the launch of our ICO, which we are hoping will stir up the necessary hype to get people involved in this revolutionary technology,” said CEO and founder of TillBilly, Sarthak Moghe.
“TillBilly will not only make checking out of your favourite coffee shop or clothes store a whole lot easier, quicker and transparent, but it will also empower retailers with an assured settlement value in Fiat currency, and cost effective promotions that results in higher conversions and better customer experience,” continued Moghe.