(24.02.2021) PostFinance has set the end date for the current red (IS) and orange (ISR) payment slips as 30 September 2022. It is thereby supporting the digitalization of payment transactions and the corresponding follow-up products QR-bill and eBill. The red and orange payment slips will thus be definitively replaced for all Swiss bank customers. Companies are now required to switch if they have not done so already.
Need for action by invoice issuers with hardware and software solutions
The payment transactions and particularly the accounts payable and accounts receivable accounting of invoice issuers with hardware and software solutions need to be switched over in time. Companies that have not yet dealt with the conversion so far are advised to contact their bank and their software partner immediately. They will provide support with the work required for planning and migrating to the QR-bill or eBill. Once the infrastructure has been adjusted, the entire invoicing and payment process runs much more efficiently. In addition, companies benefit from increased cash management options.
Advantages of invoicing with QR-bill and eBill
- More efficiency in administration because the process of invoicing and payment transactions is automated.
- Simplified payment settlement because less manual effort is required.
- Fewer errors because all payment information is transmitted electronically.
- Reduced workload because there is no need to order pre-printed payment slips.
- Less or no paper consumption.
- Companies can choose between QR-bill and eBill – or combine the two solutions – depending on their needs and those of their customers.
The QR-bill – the evolution of payment slips
The QR-bill is the direct successor to the payment slips. It can be printed or issued digitally and still consists of a payment section and a receipt. The Swiss QR Code in the middle of the payment section contains the information that also appears in writing on the invoice. Invoice recipients can already reap the benefits of the QR-bill and pay digitally. Swiss financial institutions have adapted their mobile banking and e-banking solutions accordingly so that invoice recipients can conveniently scan and pay their QR-bills – regardless of whether they are private individuals or companies. The QR-bill can also be used in post offices and sent to the bank as a payment instruction in an envelope.
Advantages for QR-bill invoice issuers
- Invoices including the payment section and receipt are printed directly on white, perforated paper – pre-printed receipts are no longer needed.
- The QR-bill can also be issued paperlessly.
- Easier and faster invoicing in CHF and EUR directly in the invoicing solution without an ISR or ISR bank agreement.
- An existing ISR reference can be transferred one-to-one and reused as a QR reference in combination with a QR-IBAN.
- The Structured Creditor Reference (SCOR) simplifies the assignment of a payment in accounts receivable accounting with an identifier that is unique for each transaction. It can be used in combination with the IBAN both in Switzerland and internationally.
- Payment receipts are processed fully automatically.
eBill – the digital invoice for Switzerland
eBill goes significantly further than the QR-bill and already enables seamless digital payments in Switzerland. Invoice issuers send invoices directly and securely to their customers’ online and mobile banking. The customers then check all the information online and can approve payment of the invoice at the click of a button. Invoice issuers reduce their workload, benefit from reliable payment receipts, and retain control over the invoicing process.
Advantages for eBill invoice issuers
- Invoicing, dispatch and payment are completely digitalized and processed automatically – companies are thus prepared for the future already.
- Use of paper for accounting is reduced to a minimum (conserving resources and protecting the environment).
- More punctual receipt of payments. Payment receipts are processed automatically.
- eBill meets customers’ current needs and increases customer satisfaction.
Digitalizing Swiss payments
With the development and market launch of the new QR-bill and eBill, the Swiss financial center is digitalizing Swiss payment transactions. Like eBill, QR-bill takes account of the increased requirements in relation to compliance and automation processes and supports digitalization. This brings benefits for all market participants and the Swiss economy as a whole.
For further information on the QR-bill and eBill, invoice recipients should contact their bank. Invoice issuers and companies with hardware and software solutions should also contact their bank and/or software partner.
Further information on invoicing is available here:
- At www.pay-simple.ch/invoice-issuers
- At www.paymentstandards.ch for companies that use hardware and software solutions for their payment transactions.
Last modification 24.02.2021