Simply download the app, add a balance to your Shrap account, and you can begin issuing change electronically to your customers.
Our vision is that you never need to handle coins again. Simply set up a direct debit with us, and your 'digital float' can be topped up automatically, to the level you choose (minimum £20). Your money is held securely, and you can withdraw your balance at any time. A withdrawal fee of £0.90p applies to cover bank processing fees.
You have complete visibility of change issued and payments received via the app, which can be viewed on a daily report, or exported to your accounting software.
Fee-free, forever. Any payment of up to £10 can be made through the Shrap app. The change that your customers collect on the app can be used to pay you for small purchases, improving your margins on smaller items.
Your Shrap account is fee-free too. The only fee you will ever pay is £0.90p when withdrawing your money, to cover processing fees. We make our money by earning a small amount of interest on the 'change' that people hold on the Shrap platform.
It's easy to get your customers using Shrap. We'll give you a supply of Shrap cards, which you can scan and use to instantly issue change to your customers... without them needing to download the app. Their change will be waiting for them when they activate the card.
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Shrap is registered with the Financial Conduct Authority under the Electronic Money Regulations 2011 (Register Number: 900990) for the issuing of electronic money.