Fetch Launches New Receipt Tech

by Taylor Kennedy

Fetch

Fetch has launched its next-generation receipt-scanning technology, which improves accuracy with item recognition, product intelligence and enhances user experience, the company announced today.

“Receipt understanding is a very complex problem,” Fetch Group President of Product and Technology David Berk said in a statement. “There is no unifying standard of what retailers print on receipts, and we have a fraction of an instant to turn a mobile image into clear, accurate, machine-readable understanding. Today, in every dimension, Fetch scan-and-match technology is the best in the world.”

According to a release, the technology has improved accuracy in text detection and token labeling by an order of magnitude and has enhanced app performance and stability for brands and consumers.

To gather the receipts, Fetch staff shopped at hundreds of retailers nationwide, then donated the products to a variety of charitable organizations across 17 states.