What Does Fetch Get From Your Receipts & How Is It Used?
Learn what data Fetch Rewards collects from your receipts, how it's utilized, and their commitment to user privacy.
Fetch Rewards is a popular application that provides users with rewards for scanning their shopping receipts. This service allows individuals to earn points redeemable for gift cards, turning everyday purchases into savings. Understanding this process involves examining what information Fetch collects from receipts and how this data is utilized. This article details the types of data extracted, its commercial applications, and Fetch’s privacy measures.
Data Points Extracted from Receipts
Fetch employs advanced optical character recognition (OCR) technology to process information from submitted receipts. This technology digitally reads and interprets printed text from physical receipts, converting it into structured data. For digital receipts, Fetch accesses information from linked email accounts. This automated process captures specific data points from each transaction.
The extracted information includes the store name, location, date, and time of purchase. Fetch captures an itemized list of products, detailing names, quantities, and prices. The total amount spent is also recorded. While Fetch focuses on purchase details, it may identify the payment method used if visible, such as the last four digits of a credit card. The application prioritizes purchase data and does not collect sensitive financial identifiers like full credit card numbers or banking account details.
How Receipt Data is Utilized
The primary function of collected receipt data is to facilitate the Fetch Rewards program, enabling users to earn points based on their purchases. These points are awarded for buying specific brands or for general spending, redeemable for gift cards. Beyond individual rewards, aggregated and anonymized purchase data becomes a valuable resource for market research.
Fetch monetizes these insights by providing them to consumer brands, manufacturers, and retailers. This allows businesses to understand consumer purchasing trends, brand loyalty, and competitive performance. The data helps companies evaluate promotion effectiveness and track new product adoption. Additionally, the collected information enables Fetch to personalize offers and promotions within the app for individual users, enhancing their reward experience and engagement.
Commitment to User Privacy
Fetch implements measures to address user concerns regarding the privacy and security of their purchase data. A core component of its data handling involves anonymization and aggregation. This means individual user purchase data is not typically shared directly with brands or third parties.
Instead, data from millions of users is combined to form large, anonymous datasets, from which statistical insights are derived. Fetch’s business model relies on these broad, statistical trends rather than the sale of identifiable individual user data. To protect user information, Fetch employs data security measures, including encryption and secure servers. The application also encourages users to maintain strong passwords and utilizes multi-factor authentication for enhanced account security. Users can review Fetch’s privacy policy on its website or within the application for detailed information.