“You have to spend money to make money!” isn’t a universally true saying, but it definitely holds for receipt scanning apps. Even those on a tight budget who are buying only the essentials can make extra cash with them.
All you need is an app and willingness to scan receipts or barcodes. In most cases, you don’t even need to go out of your way to mean rewards or cash back. The exact reason why receipt rewards programs pay money and how you can get the best out of them will be explained in this article.
Understanding Receipt Reward Programs
Before starting to earn money from receipts, you must understand a thing or two about what they are and how they work. Some basics will give you a better idea of how to maximize your cash rewards later on.
What are Receipt Reward Programs?
Receipt scanning apps allow users to share receipts as a convenient way to keep track of expenses and earn extra money. After shopping in a store, you can scan the receipt and earn points, cash back, or discounts.
Companies are willing to give cash rewards because receipt apps are a source of consumer demand predictions and price changes. Some receipt rewards programs also function as cash-back apps, returning you the part of what you spent.
Such cash rewards are possible because of the various affiliate marketing deals providers have. In short, they get money to attract new customers to brands and share part of the profits.
Most programs for scanning receipts use a point system to calculate earnings. They can be overly complicated, but once you figure out how to earn points, you can cash them out for rewards. Usually, the rewards are in gift cards or in-store discounts.
How Receipt Reward Programs Work?
You might not think about it, but your receipts are valuable and can help you earn cash rewards. Receipt scanning and cash-back apps make deals with stores or brands to attract customers and collect pricing data all over the world.
There are rumors of some receipt rewards programs selling user data, but it’s a bad exception. Generally, companies need large sets of anonymous data to draw statistically relevant conclusions.
On such a scale, your purchasing data is used by stores anyway, so why not monetize it? Besides, the process of scanning receipts itself is very straightforward, only requiring you to have a smartphone and some money to spend.
- Download a receipt-scanning app.
- Check the list of supported brands and stores to ensure eligibility.
- Upload receipts. Some apps accept online receipts also.
- Earn points.
- Exchange points to earn rewards.
Some receipt scanning apps provide cash back, so you can make money faster as a return on what you spent. These programs have more requirements to earn rewards, which usually include shopping in certain regions and stores or choosing name brands.
Most cash-back and receipt scanning programs focus on Western Europe and the USA, but you can earn money almost anywhere. However, be sure to check the requirements before you start to scan receipts.
Popular Apps and Platforms
There are many different apps to scan receipts and make money. Generally, there are two categories. Receipt-scanning apps with cash back and retailer-specific programs that focus on discounts.
Top 3 Receipt Scanning Apps
Ibotta
Ibotta cash back works by matching your purchases with offers available on the app. It’s one of the most trusted platforms, offering custom deals from over two thousand retailers.
It adjusts to your preferences and purchasing habits as you first must choose from available offers and then scan receipts. The more offers you add, the better it adapts so you can make money seamlessly.
Calculating how much you can earn with Ibotta is difficult, but you can expect at least 2% of your spending to return. You can withdraw earnings from $20 in gift cards or cash.
Receipt Hog
If you’re looking for a cash-back app that accepts lots of different stores and can work online, Receipt Hog is worth a look. Simply download an app and start uploading every receipt you get.
Online e-commerce, restaurants, gas stations, you name it. Receipt hog rejects only duplicates. It takes seconds to provide receipts, and most types are accepted.
On average, Receipt Hog offers $0.05 worth of in-app currency (coins) per receipt. It isn’t much, but considering the amount of receipts accepted, it’s a significant source of extra money.
Payouts are made through PayPal transfers, Visa, or Amazon gift cards. Your experience may differ, but generally, it takes about a month to accumulate the sum for one payout.
Fetch Rewards
Those looking for the best user experience will find Fetch Rewards to be the most appealing cash-back app. It has a friendly design with some motivating social features.
Many users find it focused more on brands, with over six hundred on the list. However, Fetch Rewards has plenty of stores to choose from as well.
Uploading receipts works just like any other cash-back app. Fetch points systems allow you to withdraw gift cards from $5, which amounts to around 3000 points.
Retailer-Specific Programs
Retailer-specific receipt apps are somewhat of a dying breed. Most retailers are moving away from these programs and leaving them to third-party providers, such as the ones mentioned above.
Walmart used to have a Savings Catcher program that allowed users to submit receipts from other stores. If they have better prices than Walmart, you will get a discount or a gift card.
Allegedly, the Walmart Savings Catcher was discontinued because their prices were always the best at their stores. Some functionalities are now transferred to the Walmart app and the Walmart+ program.
Target is also used to allow users to scan and save receipts for discounts and money-back offers. Some of these features are transferred to the current Target Circle app.
It offers cash back from 1% of your purchases and various personalized deals. However, the receipt scanning offers seem to be slowly being replaced by simple discounts.
Other retailers also have similar apps and rewards programs, but none of them can match what third-party receipt scanning apps offer. If you are looking for the best value receipt scanning, it’s best to stick with them.
How to Maximize Your Earnings
No matter what cash-back apps you use, the main aim is to save money. Cleverly approaching this problem is key. Here are some tips for increasing your earnings with receipt-scanning apps.
Tips for Optimizing Receipt Scanning
- Scan receipts as often as you can. It might sound obvious, but without making receipt scanning a habit, you won’t earn money.
- Readable receipts. Ensure good lighting and protect receipts from harm before taking a photo. Having a smartphone with a good camera also helps.
- Submitting receipts quickly. Many apps have a time frame for when you must scan receipts. Usually, it’s the same day as your purchases.
- Bonuses and special offers. Take advantage of grocery store apps or other programs they offer to combine discounts. Just make sure your purchases are still eligible first.
Combining Multiple Programs
Another important trick is to use multiple receipts and cash-back apps. Some support Walmart, others work better at Costco and Target. Research which ones are best for your area and purchasing habits, and use them accordingly.
There is no limit on how many apps you can use to scan receipts. The only rule is that you cannot scan the same receipt twice. Using multiple programs gives you a method of stacking deals on one another.
One store might have discounts and allow scanning receipts for one set of goods, another for different ones. It won’t cost you any money, but you might need to do some research and drive around when shopping.
In most cases, it’s only worth it for more expensive purchases, such as electronics. However, densely populated areas will have plenty of stores to combine multiple programs.
Additional Ways to Earn from Receipts
While these methods won’t make money from receipts alone, they greatly supplement this frugal practice. Many people who are scanning receipts also answer surveys and use loyalty programs.
Participating in Surveys and Reviews
Sharing your receipts is a bit of a roundabout way of sharing your preferences with companies. A more straightforward method is answering paid surveys on a platform like the Pawns.app.
Answering questionnaires will take a bit more of your time, but not that much. Pawns have a convenient app that you can use without disturbing your day too much.
Without any additional training, you will earn extra money equal to what uploading receipts can give. A few surveys per day will earn you around $7 monthly, which can be withdrawn as gift cards or cash transfers.
If you already scan receipts, there’s no reason not to try sharing your feedback directly with brands and make money from it.
Joining Loyalty Programs
It’s a common mistake that shoppers on a budget make. If you are scanning receipts for an app, it doesn’t mean you can’t use the store’s loyalty program to get even more rewards.
Target, for example, has an excellent app with many discounts and personalized offers. It will give you better prices, and you will also be able to get some cash back from scanning receipts.
Usually, discounted products will not earn much after you scan receipts, but once the promotion in the store ends, it will return more cash. Scanning receipts is a way to get more flexibility in finding the best deals.
Conclusion
Once you get the hang of it, apps like Ibotta, Receipt Hog, or Fetch Rewards will allow you to earn cash by simply shopping. All that is left now is to try them and apply the tips provided here.
