A woman in an office scans the QR code on one of her invoices.
07.06.2022

From ISR to QR Code. All the answers to your questions.

Resistant to change? Hang in there because paying by QR will shake up your routine. For the better!

 

Let's start by looking at it more clearly

What is an ISR and what exactly is a QR code?

An ISR is a payment slip with a reference number; That famous orange ballot that we've all known for so many years.

You know, the document in which you have to enter a reference number that is as long as your arm and that you read four times before validating a payment. That's what BVR is all about.

The QR? It's kind of weird 2D barcode. Rather than having vertical lines like the codes of your items at the supermarket, it's a set of black squares on a white background. Translated from English, this is a  quick-response code. In short, you scan, you pay.

That said, this type of code can also be used, when scanned with a smartphone or other reader, to send you to a website, digital content, trigger a phone call or add a contact to your list on your device. It's kind of a digital springboard.

 

What's changing and when?

In Switzerland, a transition has been underway since 2020. Banks are shifting to more extensive use of QR codes when sending their invoices. It is still possible to make a simple payment or use a payment slip, but this will soon change. From 1 October this year, it will only be possible to pay your bills by scanning the QR code indicated. The same applies to companies or freelancers who provide invoices. These must include the famous square code.

Note that red ballots are also affected. These BVs will also disappear.

 

Why this change?

Quite simply, to avoid input errors when making payments. Each bank has a department dedicated to finding transactions. These searches come from requests from creditors or debtors when they find that a transferred amount has been paid to a wrong beneficiary. Bad luck?

It may be a fraudulent process  , but very often it concerns an incorrect number in the reference number indicated. This number is linked to an invoice and not to the contact details of the recipient of the invoice, which may very well be entered correctly.

With the QR code, all you have to do is scan it. In principle, there is no room for error.

A secondary benefit is, of course, the time saved. No need to copy and paste from a PDF file or type a reference manually.

But what happens if I receive an invoice from abroad without a QR code?

Rest assured. A classic payment option via an IBAN account payment will always be available as long as the account is abroad.

 

Is it safe?

As with anything to do with technology and payments, caution is required.

Imagine scanning a QR code on the corner of a table at a restaurant. That must bring back memories, doesn't it? Or when you scan a QR code on a sign on the street to buy tickets to a concert. 

In these cases, it's impossible to know if the QR code is benevolent or malicious in its intent. Unwanted transfer to a website, spyware, adding an unknown contact to your list, automatic call to a third party... A scanned code automatically triggers an action. You will often have to confirm the action in question, but this is still a result that is diverted from your original intention.  

To limit the risks, the instructions are simple: you only scan QR codes whose origin you are absolutely sure of. Check that the invoice received is issued by the correct beneficiary, ask your waiter at the restaurant to validate the authenticity of the code at your table, check the origin of the email received including a QR code for payment...

 

What do I need to do to pay using a QR code?

Basically, your smartphone allows you to read most QR codes. You can also decide to download apps that allow you to install this type of playback on your phone. These applications are available or inexpensive. Your bank's e-banking service also includes tools for QR code recognition.

Do you want to generate invoices with QR code? Your bank will be able to help you. Their e-banking application includes the ability to generate codes to embed on your invoices.

If in doubt, ask your advisor or visit your financial institution's website.

 

And what about my credit?

Nothing revolutionary except the abandonment of the BVR bulletins from 1 October. From this date, you will receive new QR code bulletins from the lending bank. 

As always, verify the recipient's authenticity and scan the QR code. All the data related to your payment is included: amount, currency, payment reference, due date, etc.

 

And Milenia?

We remain at your disposal. Again and again. 

As a financing platform, we support you in your efforts to benefit from a tailor-made solution and a competitive borrowing rate.

We help you to establish your file, negotiate the applicable rate, study your budget in order to offer you a truly personalized formula... We then obtain approval for your personal loan from one of our banking partners.

It is these partners who draw up the loan agreement and send the invoices for the monthly repayments. These invoices include or will soon appear the famous QR code. 

Technology is evolving, but one constant remains within Milenia; Our total commitment to making your life better. A clear desire to offer a service that meets your expectations. A promise to advise you in complete transparency, confidentiality and according to the rules of the art.

While waiting for the next change, the next code, we will remain by your side in order to carry out your projects at the best conditions on the market. 

You don't need a QR to prove it; just visit our platform or call us directly. We'll take care of the rest.

 

 

 



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Let's take a step back

During the lockdown, the world of work experienced a real shift.

Companies had to adapt and various means were put in place to ensure the continuity of services, sales, and the very functioning of the organization.

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Finally, regular reviews were required to assess the effectiveness of telework policies and gather feedback from employees.

The big winners? Zoom, Teams, Skype, Webex... It was a good time and the number of users exploded

 

Video conferencing platforms

In order to establish clear and effective communication channels, it is necessary to have instant messaging and video conferencing tools to maintain smooth communication between team members. This transition is being made by different players who bring specificities specific to each sector.

You may have seen that.

Some companies will use the Zoom platform, which allows simple video conferences with a discussion thread, which is easy to use and not very connected to other services.

Others will use Microsoft Teams or Webex, which offer more integrated and secure business solutions.

Skype and Google Meet round out the market leaders, at least in Europe.

 

And what about employers?

The main fear of some employers during this pandemic?

Decreased productivity.

The prevailing thought was that employees, less supervised than before, would work less given this new organizational freedom.

The endless breaks, the last-minute shopping, the Netflix binging...

We're not going to lie, the majority of teleworkers have taken advantage of this to better combine professional and personal needs.

There have been many productivity studies, too many to mention here.

In the end, productivity dropped slightly on average, but this varied enormously depending on the functions and responsibilities.

Profiles whose tasks were recurrent completed their work more quickly and, not needing to do more, to take advantage of the time available to go about their personal business.

Others worked even harder, especially early in the morning, late at night, or on weekends.

Where some managers suffered from a lack of supervision (monitoring?) of their teams; Some employees did not take well to the distance, the lack of clarity on the establishment of rules... All of them missed interpersonal relationships and this may have impacted the corporate culture and sense of well-being.

In conclusion, there is neither one statistic valid for everyone nor a representative feeling of all employers and employees. However, there is no doubt that the world of work has changed and the effects continue today.

 

Exactly. And today?

Companies are adapting to the demands of employees, especially young people entering the workforce.

They demand flexibility, adapted schedules and, yes, telecommuting.

In Switzerland, the job market is in favour of job applicants. Companies must therefore remain attractive and take these demands into account.

Companies are implementing hybrid work modes that allow the employee more time to work from home but require them to be present for a certain number of days in the office. Again, there is no single rule.

Some organizations simply refuse the principle of remote work.

Others impose a fixed day of attendance.

Some leave the choice to their teams.

One thing is for sure, remote work is here to stay, in one form or another.

More than controlling productivity, more than managing teams and workloads, the real challenge is to keep the links between employees, to ensure proximity between managers and their teams.

Finding a balance between the attractiveness of the employer brand, individual well-being and the needs of the company; This is where the effort must be directed for the future.

 

At work and at home, Milenia is always available

Accessing credit through our financing platform has never been easier.

Everything is within your reach, with customization according to your projects, we accompany you from start to finish so that your projects can see the light of day.

For your personal loan, we offer the best market conditions with 0 application fees. Everything is designed to make your life easier.

Your loan application can be done entirely remotely, with support from your personal advisor or both at the same time.

The flexibility, adaptability, personalization of your offer... All of this is embedded in our approach and services.

As the leading credit player in Switzerland, place your trust in us so that your personal dreams and projects come true.

 

 

 

 

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