Many smartphones and computers already have an integrated camera, which enable the interpretation of QR codes in conjunction with the appropriate QR software. The Austrian banks are working on solutions in which the self-service devices in lobbies will read the QR codes. Through this new method, typographical errors in account numbers and other payment data should be avoided. Some bulk senders of invoices, like telecom providers and utilities already provide "Zahlungsanweisungen" with a preprinted QR code.
Currently, the majority of Banks offer their customers an eBanking app for smartphones, which automatically reads and converts QR codes into payment transfers.
The advantages of this technique consist of the simple application and the transmission of contents without transfer loss for the benefit of all participants. This technique enables a simple and comfortable application for the payer, processability because of the payment transfer contractor and a safe assignment by the payee.
The basis for the QR code is a standard by the same name of the European Payments Council, which resulted from preliminary work by PSA. Further information may be found here and we offer you a tool with which you can create a QR code.
Paradigm for a QR-Code on a "Zahlungsanweisung"
