Abolition of payment slip: What the new QR bill brings

The red and orange deposit slips will be abolished as of September 30, 2022. Subsequently, a QR code will be available for the payment of outstanding invoice amounts. Entrepreneurs would do well to start transitioning to the QR invoice now.

For decades, invoices in Switzerland – whether business or private – have been settled using the red or orange deposit slip. But this will soon come to an end. The post office has decided to abolish the existing deposit slips as of September 30, 2022.

QR invoice replaces deposit slips

As early as June 30, 2021, the new QR invoice was introduced in Switzerland, which should gradually replace the existing deposit slips. The core of the QR invoice is the so-called Swiss QR Code, which contains all payment-relevant information. Those who want to pay an invoice via e-banking without much effort just need to scan the QR code with a smartphone or laptop camera. Reference number, IBAN, address, etc. are then automatically filled in, and the invoice can be paid with just one click. The relevant data will still be printed on the QR invoice and can also be entered manually. Those who are less tech-savvy also have the option to continue paying QR invoices at the post office counter as before.

SIX drives digitalization forward

The Swiss financial center, under the leadership of SIX, has been harmonizing and digitalizing Swiss payment transactions for years. For this purpose, for example, the previously different payment procedures of the financial institutions were standardized. The new QR invoice is the next step towards digitalization of Swiss business traffic. By September 30, 2022, the Swiss QR Code and QR invoice are intended to completely replace the red and orange deposit slips. What does this change mean for Swiss entrepreneurs?

Action required for invoice issuers

The transition to the QR invoice requires action from invoice issuers regarding existing hardware and software solutions. Companies that have not yet dealt with the transition are strongly advised to contact their bank and software partner for planning and conversion work. For invoice recipients, little changes with the transition to the QR invoice. They can already use the QR invoice now, although it is still up to them whether they use the Swiss QR Code or continue to enter the data manually.

Source: PostFinance press release from January 19, 2021

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