American Express has rolled out digital receipts functionality to help its US cardholders better identify and remember purchases and minimise disputes for merchants.
The Digital Receipts feature provides users additional information about their purchases, including the name and logo of the merchant, order number, date of order, item(s) purchased, details of cost and merchant description.
These data will be available to the customers through their online accounts as well as the Amex mobile app.
According to recent Amex Trendex data, 70% of the surveyed consumers in the US reached out to their credit card company over what they initially thought as a potentially fraudulent purchase on their card account, but in the end, was a valid charge that they or a family member made.
American Express initially tried the new feature with Apple, rolling it out to services including App Store, Apple Music, Apple TV+, and iCloud.
It is now available to purchases made at merchants that process their payments through Square, in addition to other major digital merchants including Google, Microsoft, and such.
It is launched through American Express’ partnerships with merchants as well as service providers Ethoca and Verifi.
Both Ethoca and Verifi enables businesses and issuers to offer enhanced transaction details to their customers. Ethoca’s Digital Receipts solution and Verifi’s Order Insight is leveraged to offer certain additional transaction information offered by Digital Receipts.
Earlier this month, American Express expanded its existing business financing product suite with the launch of Business Loans in Australia.