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.

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