Migration Payment Traffic Switzerland

QR code to replace the currently used payment slips

The Board of Directors of SIX Interbank Clearing Ltd has decided in October 2016 to revise the inpayment slip with data code planned for mid-2018. In order to take account of the progressing digitalization, market needs and upcoming regulatory requirements, the data content of the planned QR code is being expanded. This should ensure its long-term operational sustainability.

Planning security

You wrote that the QR code is to replace the current payment slips. Does this mean that it will no longer be possible to submit physical payment instructions at banks or to make inpayments at post office counters?

The banks announced the QR code five years ago, and in November 2015, published the sample dimensions and designs for the new inpayment slip with data code. Why is it already necessary to make changes?

How long is "long-term"?

You mentioned changed market requirements. What exactly has changed?

Why is the adaptation being made now?

QR code as data carrier

Is the QR code even suitable for transporting large data volumes in a small space?

What information is contained in a QR code?

With what new data shall the QR code be expanded?

Adaptation of the roadmap

The new inpayment slip was to be introduced in mid-2018, but this timeplan can no longer be maintained. What is going to happen now?

Does that mean that the migration to the ISO 20022 standard can be stopped until the new schedule for the QR code replacing the current payment slips is communicated?

Work process and costs

Will the migration costs increase for companies with the planned change?

Regulatory issues

What is the regulatory background for the conversion of payment traffic?