Switzerland to Launch Payment by QR Code

By Marko Vidrih on The Capital

At the end of June, Switzerland will launch payment on a QR account with the ability to read all the data for payment. The digital code will replace seven different payment receipts. The goal is to simplify the processing of accounts and credit transfers for companies, government agencies, non-profit organizations and consumers.

A QR account will include information about the company, as well as the timing and amount of payment. All the necessary data can be read without scanning, as the bank account number, the recipient’s name will be printed to the right of the code.

Recipients will be able to pay the bill through Internet banking and the bank’s mobile application (for this you will need to scan the code using the banking application on your smartphone). Also, an invoice can be sent to the post office in the form of a receipt of payment — it can be paid at the post office or at an ATM and then sent to the bank as a payment order.

It is reported that QR accounts can be created by the issuers themselves and printed on white perforated paper. The service will be available from June 30.

QR account example

The project is developed and launched by the financial provider SIX. It was first announced two years ago.

Author: Marko Vidrih

Featured image credit: Unsplash


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