Let’s face it—paper receipts are a hassle. Whether you're in Taiwan collecting them for the quarterly lottery, holding onto them for tax refunds in duty-free zones, or keeping them to throw away when you find a trash can in…ahem…Japan, they often end up crumpled in your wallet or piling up. But what if there was a way to make receipts smarter, environmentally friendly, and a goldmine of actionable data for businesses?
Enter Pi-xcels, a solution that caught our attention right away. Pi-xcels is transforming the offline retail experience by enabling merchants to issue e-receipts with just an NFC mobile tap—no matter the payment method (cash, card, e-wallet, or mobile wallet) without changing the way the customer pays or augmenting the merchant’s existing checkout equipment. And we’re proud to be leading their Seed round.
The logos shown are illustrative and do not represent Pi-xcels customers but are intended solely to depict the broader ecosystem of offline retailers.
Solving a Global Problem
We live in a world where the environmental impact of seemingly small actions is becoming impossible to ignore. Consider this:
- In 2020, 400,000 metric tons of receipt paper were used globally—the equivalent of about 2,000 blue whales.
- Over 90% of these receipts are printed on thermal paper coated with harmful chemicals like BPA, which can’t be recycled.
- The carbon footprint of a single receipt is 2.5g, adding up to 28,000 tonnes of CO2 globally. That’s the same as 10,000 flights circling the planet!
- Each year, 9 million trees are cut down just to produce these little slips of paper, most of which end up as waste.
- On average a mid-sized retailer can spend more than $70 a day or over $25,200 per year just on receipts!
Sources: Forbes, Epoppay, Eyos Retail, and 1receipt
These are not just statistics; they represent a serious environmental problem that Pi-xcels is tackling head-on. By eliminating the need for paper receipts, they’re not only helping businesses reduce waste but are also making a tangible impact on global carbon emissions.
The Magic of Data at Your Fingertips
But Pi-xcels is more than just a sustainable solution—it’s a data revolution. Most businesses today are hungry for insights, especially offline retailers who haven’t had the luxury of granular customer data without creating friction (QR codes, PII data, additional app downloads, loyalty subscriptions, etc). Large businesses have been created just for the sole purpose of capturing Level 3 data such as Fetch (using OCR technology) and Bridg, which was acquired by Cardlytics, using card-linking technology. However, Pi-xcels’ ability to capture Level 3 data via NFC directly at the point of sale is a game-changer.
Typically, acquiring banks, card networks, and issuing banks share this information to authorize a transaction:
- Merchant identifiers
- Method of entry (swipe, pin pad, EMV, NFC)
- Transaction total
- Card number
- Card expiry date
- CVV code
- Billing zip code
- Currency code
- PIN debit
- Other unique identifiers
These transactions are then categorized into Levels 1, 2, or 3 based on the detailed information that is shared.
This treasure trove of data is a win for retailers and payment processors alike. With more detailed insights, businesses can personalize customer experiences, optimize store layouts, enhance reward programs, and even lower interchange fees through more detailed data sharing with card networks. In other words, it’s not just about reducing receipts—it’s about unlocking the future of personalized, offline retail experiences.
What’s Next for Pi-xcels
The potential of Pi-xcels stretches far beyond e-receipts and data. It’s setting the foundation for the next generation of offline marketing and AI-driven retail experiences. Imagine walking into a store where everything from layout to promotions is customized based on non-PII (personally identifiable information) data. It’s the best of both worlds: personalization without compromising privacy. It means fewer trees are cut down for paper. It means better data, smarter business decisions, and more efficient marketing. And it means an improved customer experience—one that’s seamless, secure, and environmentally responsible.
We’re excited about the possibilities Pi-xcels offers, and we’re looking for partners who can benefit from this innovative solution. Whether you're a retailer, a fintech leader, or simply someone interested in reducing your carbon footprint, we invite you to join us on this journey.
If you’re a key stakeholder, we’d love to hear from you. Reach out to us or the Pi-xcels team, and let’s explore how we can collaborate to bring this vision to life.
If you’re building a fintech company with a similar mission, reach out to jackson@headline.com and let’s start a conversation. Together, we can drive the next wave of sustainable, data-driven retail experiences.