Slyp: The Sydney Startup Replacing Paper Receipts With AI-Powered Smart Receipts

Slyp is a Sydney fintech that has done something simple on the surface: replaced paper receipts with rich digital ones that appear directly in your banking app. That’s a bigger shift than it sounds in how retailers capture and share transaction data: and Australia’s big four banks have backed it.

What Slyp does

When you pay at a Slyp-enabled retailer, the itemised receipt: every product, price, and category: is automatically sent to your banking app instead of printed on paper. The receipt appears in NAB, CBA, Westpac, or ANZ apps as a “Smart Receipt” linked to the transaction.

Founded in 2017, Slyp has secured partnerships with all four of Australia’s major banks: unusual for a fintech: and counts Woolworths, Bunnings, and a growing list of retailers among its merchant partners.

How AI is used

• Receipt categorisation. AI automatically categorises each line item in a receipt (groceries, hardware, clothing) so banking apps can provide better spending insights.
• Product matching. Slyp matches product codes from POS systems to a product database to enrich receipt data with images, descriptions, and categories.
• Spend analytics: banks use the itemised data to give customers more granular views of where their money goes: not just “Woolworths $87” but the actual basket contents.
• Warranty and returns tracking: because the receipt is digital and itemised, retailers can use it to automate warranty registration and simplify returns.

Why it matters for small business

For retailers using Slyp-compatible POS systems, the integration reduces paper costs and gives customers a better post-purchase experience. For customers, it simplifies expense tracking and business expense claims: every purchase is automatically itemised in their banking app.

As Slyp expands merchant coverage, the gap between businesses that offer digital receipts and those that don’t will become a visible differentiator in customer experience.

Related: Australian AI Companies: The Complete Guide by Industry (2026) | AI + Xero Deep Dive: Beyond the Basics for Australian Small Business

This profile is part of SmallBizAI.au’s guide to Australian AI companies by industry.

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