Swiss-QR Bill: The New Payment Option in Switzerland

The so-called “Swiss QR code” is a new payment option which will be launched in Switzerland on 30th June 2020. The new QR Bill has been developed by SIX Group (Swiss Infrastructure and Exchange).The aim of the new payment option is to harmonize and simplify payment ‘slips’ as they are currently know, because it will function across all Swiss payment methods: E-Banking, Mobile banking and physical payments at banks and post offices. 

The idea of the QR invoice is to offer a convenient, automatic and efficient payment method. Bill recipients can simply scan the QR code with a smartphone or camera when paying via e-banking. With one click, the payment is then automatically triggered. There is no need to type in the reference number, IBAN, address, etc.

According to the interview with Patrick Graf, Chairman of the Board of Directors at SIX Interbank Clearing Ltd, at the moment, no one needs to change their payment habits. "We are not taking anything away from customers, but are making the QR bill available to them as an additional payment option”. 

Even though the current payment options will still remain for now, this new QR code is planned to gradually replace the orange and red payment slips of today. Credit Suisse announced “The wide diversity of Swiss payment slips is being reduced down to just the QR-bill. This will bring about a significant reduction in administrative effort and costs.”

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