Creating and Processing QR Invoices

The QR invoice is a new standard introduced by the Swiss financial industry for machine-readable billing. As of June 30, 2020, it has gradually begun replacing the traditional payment slips previously used. With this change, Switzerland aims to further digitize its payment processes.

TOPIX users can now create outgoing invoices in QR format. Incoming invoices with a QR code can simply be scanned and automatically processed in TOPIX.

What’s included?

The QR invoice contains both a payment section (including amount, sender, recipient, reason for payment, and a machine-readable QR code) and a receipt. The QR code in the payment section is scanned and processed automatically. This eliminates the need to manually enter data and significantly reduces the risk of input errors. The receipt can be stamped at a bank counter to serve as proof of payment.

Background

In 2016, the SIX Group – the operator of Switzerland’s financial market infrastructure – announced an initiative to harmonize and modernize payment transactions. In December 2017, Swiss financial institutions implemented the corresponding standard. Just a few months later, in June 2018, the Swiss DTA standard for transmitting payment information was replaced by a new international standard. At the end of 2018, SIX introduced the QR invoice, enabling the full digitalization of payment flows within Switzerland. As of June 30, 2020, QR invoices officially replaced traditional payment slips.