Often we buy many electronic items online or in stores and get warranty card, purchase receipt etc that must be preserved to make a warranty claim if any thing goes bad with the product. Many electronic items come with 3-5 years warranty and it becomes cumbersome to manage so many warranty and purchase receipts for such a long period of time. Not to mention, so much paper is wasted in printing such receipts and warranty card.
Solving this very problem is a Finland/Hyderabad based company called Warrantify.com. The company is trying to solve two distinct problems facing the world today. At one end, it helps retail customers digitize, store and manage their product warranties and purchase receipts. On the other hand, it ties up with online and offline retail stores to issue e-warranty and purchase receipts that are kept secured with warrantify.com and can be easily retrieved by the customer in future to file a warranty claim. This help customers avoid printing e-receipts/warranty cards.
The green initiative was chosen as a winner at StartUp Live Vienna in October 2010. The business model is two fold. The company aims to charge retail store companies a transaction fees. They also wish to create a network of partner stores and upsell/cross sell products.
The idea is very unique but has a few challenges. In many countries, the product must be accompanied by a printed receipt and warranty card. Specific amendments in the law may be required in such countries for retailers and product manufacturers to fully switch to e-warranty. Also for this idea to be successful, majority (if not all) online stores must participate.