Digital solution to address environmental issue

Inayat-ur-Rahman, Business Editor

As the UAE is heading to host COP 28 next month in Dubai to combat climate change, Klipit, an innovative, tailor-made digital solution designed to address the environmental and convenience challenges posed by traditional paper receipts.

“Our goal is to significantly reduce the waste and pollution caused by these receipts. The app’s main aim is to digitize transaction records, making it easier for both consumers and retailers to manage their purchase history without contributing to the growing paper waste problem,” said Venkat Reddy, CEO, Klipit, during an exclusive interview with Gulf Today, adding that their app safely stores all your receipts in a digital space, simplifying management, searches, and tracking of purchases. It’s not just about being eco-friendly; it saves valuable time and makes everyday tasks easier.

He noted that the concept of Klipit stemmed from the evident environmental consequences posed by the colossal amount of paper receipts accumulated over time. The creators observed a prevalent disregard for these receipts, with many littering malls and public spaces. This sparked the idea for Klipit - a world where, as customers step out of a store and their digital receipt is already saved on their device- an initiative where convenience and sustainability converge. According to a study for Klipit, over 1 billion trees are cut down each year for paper receipt production, highlighting the pressing need for digital alternatives.

“Klipit has been meticulously designed keeping the modern-day user at its core. It offers a hassle-free interface enabling users to capture and store digital receipts effortlessly. Recognizing the plethora of daily transactions, Klipit ensures all of them can be seamlessly accommodated, replacing the outdated paper receipts system. If an item needs to be returned, gone are the days of sifting through heaps of paper. Simply search for the store or item on Klipit. Added functionalities such as expense categorization and warranty reminders further enhance its utility. The study indicates that a whopping 77% of individuals have misplaced or lost their receipts, underlining the essentiality of a platform like Klipit.

“At Klipit, our team is currently in discussion with many retailers across the region along with Retail POS Software providers, as this is the first-of-its-kind receipt platform that has been introduced in the region. We are constantly educating our retailers on how a product like Klipit is a perfect fit for their ESG initiatives and a direct operation cost-saving and extremely secure as we have maintained bank-level encryption and built on the blockchain platform. “ He added.

“At its core, Klipit is designed with two main objectives: to mitigate the detrimental environmental impacts of paper receipts and to offer a seamless user experience. From an environmental perspective, Klipit aspires to make a significant dent in the paper waste and carbon footprint tied to traditional receipts, pushing us toward a more sustainable future. For its users, Klipit provides an integrated platform to track and access their transaction records, eliminating the traditional hassles and harmful chemical exposures associated with physical receipts. Visualize your monthly budgeting session, rather than gathering piles of receipts, simply launch Klipit, filter by date, and have an instant snapshot of your expenses. In terms of its user interface, Klipit is intuitive and user-friendly. To provide more context, studies reveal that every year, the production of receipts results in nearly 300 million pounds of solid waste, and greenhouse gas emissions equivalent to the presence of over 400,000 cars on roads. What’s even more concerning is that a majority of these thermal paper receipts are laden with BPA or BPS, continually exposing regular users to these hazardous chemicals.”