These days it seems almost anyone can make money from an online hustle.
With the wealth of businesses out there such as writing, dropshipping, or even wedding planning, the world of the online entrepreneur is vast.
Along with the more traditional avenues of creating a side hustle or even making a full-time career, there are many other types of really simple ways to make money online, from online surveys through to ‘get paid’ sites which include simply getting paid for going to the grocery store!
In this article, we’re going to discover how to get started with a side hustle, and as a way to start we’ll discuss specifically if receipt apps make money, if so how, which are the best ones and more.
Let’s start with the short answer so you can get started straight away.
How do receipt apps make money? It’s a very simple process, read the reviews to choose the best apps and download. When shopping, put the items on the list, take a photo of your receipt, upload it and receive either cash, points, amazon vouchers or Paypal credits. It’s relatively easy to make money on receipt apps
Ok, so now we nailed the brief, let’s take a look at what exactly a receipt app is, so we can get a better understanding of how a receipt app can make you money.
Generally, receipts are paper annoyances which most of us throw away. In fact most of us may not even bother to request one or even take them from the cashier!
Surprisingly, there’s easy money to be made from holding onto receipts, and most of it can be done mostly with your phone.
What is a receipt app?
So before we head into checking out the lowdown on receipt apps, let’s take a look at the predecessor of the receipt app, the digital coupon to see where it all began!
Those of you who are already avid couponers, may already have seen the value in collecting digital coupons from apps and websites to maximize savings at many grocery chains and drugstores.
They are essentially discounts, offers and promotions offered by online stores either to current or prospective customers.
Similar to their paper counterparts, digital coupons are aimed at enticing a consumer to make a purchase at an online marketplace, in order to gain rewards.
So what about receipt scanner apps? Let’s find out more.
Receipt scanner apps
Since the receipt scanner has become a more permanent fixture in stores, the newest way that consumers can make savings is by using an app which works with the scanner right at the till.
It’s simplicity itself, as all you need to do is to take a photo of your receipt, which then works in conjunction with the app, where you just scan it to earn cashback, reward points, Amazon vouchers or Paypal credits, depending on the app and its individual offering.
So what ways can receipts help you to save money?
- Start collecting receipts at supermarkets
- Get cash for uploading your receipts
- Claim cashback on receipts
- Discover back-of-receipt offers
- Keep receipts after large purchases
How do I make money using a receipt app?
Follow our 5 point steps to getting paid for shopping with a receipt app!
- Download your chosen app
- Buy the items listed on the app
- Take a photo
- Upload your receipt
- Wait to get paid!
Ok, so it seems too good to be true, right? There are a number of materials online like this video below that shows you 4 Apps That PAY YOU To Scan Your Receipts
You might be wondering what’s in it for the app developers to create this easy way of consumers tapping into extra cash, and how receipt apps make money for themselves.
What are the benefits for companies of receipt scanner apps?
Some of the more popular receipt apps such as Receipt Hog, conduct market research and use the data you send them to sell to companies for marketing purposes.
In a nutshell, any of the receipt data, coupled with survey answers will be sold onto brands looking to buy that particular information.
So for example ‘24 percent of Miami shoppers are more likely to purchase pet food in a pet centre than a traditional grocery store’.
Essentially when brands pay for information, receipt apps are able to pay consumers their share.
Because the data you provide to them is powerful in understanding shopping habits, demographic data and a range of other areas of data that they can sell to companies in terms of market research, product engagement and many more insights.
They tend to use receipt OCR technology to assist with their receipt data extraction. Technologies like the World’s Most Advanced Receipt OCR With Cloud Receipt API who have built neural networks to understand receipt data in detail.
Other sites such as Rakuten, a cashback site, makes money by referring customers to specific stores and retailers.
Those retailers pay for the referrals and then a small portion of that fee gets passed on to the app customer.
Ok, so as much of your value to the receipt app company is down to your own personal shopping habits, you could be wondering what they do with that data.
Receipt apps won’t sell your data.
It’s worth noting that although your receipt information is used by brands as market research, Your data is usually anonymous. Most receipt app companies won’t sell your info or pass it onto third parties without your consent.
Ok, so now we can understand the background to the apps and why they have money to pay you to shop, you might be wondering which are the best apps to use if you want to earn cash using scanner receipt apps.
Which are the best receipt apps?
According to savvy referral marketers on sites such as Quora, it appears that although Receipt Hog has good reviews, it can take up to 6 months to make under $10! So here are a few suggestions of sites, which may help your quest!
- Fetch Rewards
- Checkout 51
So is there anything else you need to know about how receipt apps can make you money? Let’s find out.
What do I need to know about receipt scanner apps?
As there is a wealth of grocery apps out there, each with their own advantages, we recommend that you would do best managing your receipt savings if you choose only two to three apps.
It can of course be tempting once you start seeing results to dive into a myriad of different apps.
This can result in a really time consuming activity, which could end up costing you more in time to claim your cashback than you are saving in money!
So you might be wondering if receipt scanning apps offer any other way of earning cash or rewards? Let’s find out.
Do receipt apps offer other ways to earn money?
Some receipt apps also offer what they term as ‘coin-rewards’.
A coin-reward is cashback based on the total amount of money spent on your shopping trip.
Here’s a list of the types of stores you can earn cash based on your final bill:
- Grocery stores and supermarkets
We hope that’s given you the lowdown on how to add a little more value to your shopping expeditions or your side hustle while you are building your empire!
Maybe you are currently unemployed and interested in becoming your own boss by creating a business for yourself, retired or a mother who wants to still have the time to care for the family, but would love to contribute to the family income.
If so, get in touch to get started with our simple step by step guide. We also love your feedback on what you think about how receipts apps make money.