QR Codes For Billing and Payments
SummaryQR Code Integration For Oracle Payments
This summer (June 2020) Switzerland has announced that it will be switching from payment slips (orange and red) to QR codes. The QR code will have payment information (account, bank etc) embedded in it. I am sure rest of the EU will follow soon.
For AR invoices, the QR code would be printed in a specific format on the invoice. Customer would scan the QR code and make a payment, the receipts would then be matched to the invoices when the bank statement is processed.
For AP invoices, the QR needs to be scanned so that payment information can be pulled and the disbursement payment details can be included in an outbound payment file to the bank.