/Payments

Fintech News for Payments professionals
Switzerland gets ready for QR bill payments

Switzerland gets ready for QR bill payments

Switzerland has set out alterations to its upcoming QR-bill, which will replace seven different payment slips when it rolls out in June 2020.

The QR-bill will contain a digitally readable QR code holding all the data for a payment, streamlining the processing of bills and credit transfers for companies, government bodies, non-profits and consumers.

Companies will be able to print the QR-bill themselves and the bill recipient can trigger payment with just a few clicks on a smartphone. Incorrect entries of payment information will be displayed directly in ebanking and business software, and can be immediately corrected, saving time and investigation orders.

SIX, the market infrastructure provider overseeing the project, says that, following a consultation, six of eight proposed changes to the QR-bill have been agreed.

These are:

  • Introduction of mandatory perforation for paper-based payments
  • Introduction of a receipt slip
  • Simplification off structured addresses
  • Simplification of combination options for structured references
  • No use of “Ultimate creditor” for the time being
  • Introduction of an additional, license-free font for those not using Microsoft software

Comments: (0)

capgemini world reports
Find out more

Trending Stories

Featured Job
All Jobs »
London, UK

Sales Director, Private Equity Solutions (London, UK)

Competitive base, double ote, benefits, stock options

22 Jul