Startup Stories - warrify - Interactive receipts

An introduction to warrify

warrify transforms the paper receipt into a digital touchpoint directly on the customer's smartphone, by developing technology that allows it to communicate with millions of customers directly through the receipt via a simple PoS interface, and all this without an additional app.

We want to help retailers drive innovation and offer their customers a unique and great customer experience. We want to achieve this through a paperless future, where we not only save valuable resources but also turn the end of every purchase into the start of a new customer relationship.

‍

The birth of a Startup

Back in 2017 we had the idea of making it easier for consumers to claim their rights of warranty and accompany products over the entire lifecycle, from purchase to recycling. Necessary to make this happen? Remaking receipts smart and interactive. Initial surveys showed that cardboard boxes with hundreds of receipts, half of them not readable anymore, couln't be the solution.

We claimed that the receipt can be used to communicate relevant content right to the customer and therefore turn the receipt into a digital marketing channel for retail innovation while protecting the consumers rights.

At warrify we reimagined the receipt and brought it to life by linking interactive content.

In Germany, when the KassenSichV made it mandatory to offer receipts to consumers which resulted in many more printed receipts and on the other hand, sustainability becoming more and more important, in 2020 it was clear to us that it's the perfect moment to transform the paper receipt into a digital customer touchpoint.

The motivation

We love bringing things to the digital world and we saw a great opportunity to do so with receipts. As it is in our DNA to tackle huge challenges and risks, which is also one of our core values at warrify, we decided to give it a try even though many tried something similar in the past. We continue to tackle huge challenges and risks today and will continue doing so, on a daily basis.

‍

The Challenge

An entire (established) market against us, saying “there is not a big enough need to bring receipts to the digital world”. We are super happy to continue proving them wrong and we see a bright future for a digital post purchase experience ahead.

We have witnessed another of our core values “embracing mistakes and learning from them” first hand. warrify started building an app, only to find out later that in our case, an app was not the right direction. We just didn’t validate enough. However, we realized that there are many super smart tools and frameworks out there to prevent that trap in the future.

Here we are today with a team of 10 people doing hundreds of prototypes and user tests before developing a single line of code to constantly improve the customer experience and be one of the most customer centric companies possible. We believe in experimenting without being afraid of making mistakes, the only way to outperform the market in the long run.

The importance of an Incubator

We wanted to get a better understanding of the financial technology world and how we can match purchase data with transaction data to bring receipts right to the payment. F10, as a leading fintech accelerator, was a perfect fit to accomplish that goal.

We are truly grateful for the growing number of awesome retail partners, who lead in their industries (furniture, DIY, jewelry,..). We are constantly improving the product with them. Besides that, a great update is a close partnership with the leading PoS provider Gebit Solutions bringing the solution to a wide range of retailers - more to come soon.

‍

The outlook

We are on a mission to make purchase data accessible and useful for everyone, creating a future of open retail. Today there are many interesting use cases and companies offering services around purchase data.

However, the great bottleneck is that structured purchase data is just not accessible in a clear and automated way. Every use case needs to be integrated separately which creates a huge overhead. We will change that and enable a truly data-driven retail of the future.

We see PSD2 and respectively open banking as a huge proof for how much structured APIs can change things. Therefore we watch the development closely and are stunned how innovation thrives if a clear data set is easily accessible. That's exactly what we want to achieve in retail by creating a world of open retail powered by structured purchase data.

‍

Are you a startup looking to write your story of success?

‍Register now for our demo day and apply to our new incubation program.

‍