3-On Your Side: Paperless Receipts
PHILADELPHIA (CBS) -- Paper or email? That's the question more and more shoppers are being asked these days when it comes to receiving a receipt. But as 3 On Your Side Consumer Reporter Jim Donovan explains, when you opt for an electronic receipt instead of a paper one, you may get some other unexpected things too.
Paperless receipts are the wave of the future. Major banks are emailing customers ATM slips and the number of retail stores offering customers electronic invoices is exploding.
Stephen Macary manages a fleet of company cars. When one needs an oil change the repair shop emails him the invoice. Macary says, "It gets you the information in a timely manner, and you're able to view the documents pretty much right away." But shortly after he gave the shop his email; surveys, coupons, and reminder notices started popping up. He says, "All these vendors capture information; they're going to capture it for emailing you something."
Retail insiders confirm some businesses make big bucks by filling your inbox with offers and sometimes even selling your information. According to Robert Smith, CEO of Champion Media Worldwide, "Nothing is as profitable as your own in house mailing list. when you give that information you're building a stores mailing list."
Some companies can even track you through e-receipts and coupon offers. Mark Johnson of Loyalty Marketers Association says, "When you send a digital receipt you can see the person open it, you can see if they clicked on a subsequent offer."
Some retailers take that information and build profiles about you. Those profiles can include who you are, your age and even your buying habits. Johnson says, "These email addresses can now be as valuable as a credit card number because they have huge data insights into the individual transactional behavior and product interests."
So before you agree to an e-receipt, find out if you can opt out from e-offers the store may send you. Also be sure to ask if the company sells your information to third parties and how question how they keep your information secure. I also recommend that you set up a separate email account just for e-receipts as it will help to keep the clutter down in your inbox.
Reported by Jim Donovan, CBS 3
