A first look at changes and benefits
The QR-bill simplifies the issuing and payment of invoices. The new payment slip will include a QR code that contains all the relevant information and offers an array of benefits both for individuals and for businesses. Below you will find a summary of the key facts.
A short guide to the QR-bill
Just like our previously used payment slips, the QR-bill is divided into two parts: a receipt and a payment section. The main difference is the Swiss QR code located in the payment section. It contains all the relevant information needed both to issue an invoice and to make a payment. The information is also clearly written on the bill so that it can still be read and entered manually.
Here we outline the three types of QR-bill:
Payment section with a QR reference
This version replaces the orange payment slips and contains a QR-IBAN and a QR reference. The QR reference is equivalent to the ESR reference number and, like its predecessor, allows the bill issuer to check payments against the relevant invoices. Existing ESR reference numbers can still be used as before.
Payment section without a reference
The QR-bill that features an IBAN and no reference replaces the red payment slips. This version enables invoices to be issued simply and allows additional information to be included.
Payment section with a Creditor Reference (SCOR)
The Creditor Reference serves the same function as a QR reference. The difference is that the Creditor Reference can be used in international payment transactions while the above-mentioned payment sections are restricted to the Swiss franc area (Switzerland and Liechtenstein). The IBAN is also used for the account information.
Benefits for bill recipients
- Minimal manual action required as payment information is integrated into the Swiss QR code
- Easy and fast payment via e-banking
- Details automatically entered digitally when code is scanned
- Automated data entry means low error rate
From 30 June 2020, VP Bank will authorise QR-bills as a payment option on the Bank’s e-banking platform. This will allow you to enter and process your invoices with the same ease as before.
If you work with accounts payable software, you will need to make some technical changes beforehand. Please contact your software partner for guidance. Technical provisions are also required for proprietary developments.
Benefits for bill issuers
- Quick and simple issuing of invoices for businesses
- Improved overview of accounts receivable
- Payments in Swiss francs and euros
- Send QR-bills as PDF files
- Fewer clarifications and corrections in accounts receivable due to high-quality data
Discuss the technical requirements for the issuing of QR-bills with your software partner. The relevant preparations are also required when using proprietary developments.
If in the future you would like to issue QR-bills with a QR reference number, you will require a QR-IBAN assigned by VP Bank. Before you send your first QR-bill, you will also need to switch to camt messaging for the reconciliation of incoming BESR payments. Your client advisor is on hand to offer relevant advice.