If your mail provider supports setting up wildcard mail in your domain, you can do this with a single email account.
For example, Google Apps for Domains allows you to set *@example.com to myaccount@example.com . When someone sends email messages sales@example.com or contact@example.com , everything will be delivered to myaccount@example.com .
Then this is the process of receiving all emails. Then you look at the to heading in the letter, match it with the name stored in the application for this user, and then process it as you want.
Remember that using this method you will receive spam and other incorrectly addressed emails. You will have to deal with them yourself (for example, by dropping invalid mail that is not addressed to a valid account).
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