Abstract: A real time paperless payment control and electronic receipt system for managing transaction receipts (20) issued by a point of sale (30), comprises the steps of providing an electronic receipt card to the consumer that comprises a consumer identifier, providing retailers with electronic means (30, 31) generating an electronic transaction receipt, transmitting the electronic transaction receipt (20) together with the costumers identifier to an electronic receipts storage means (41), providing at least one interface (35) to access manage and organize stored electronic receipts (20) within said electronic receipts storage means (41).