The QR-bill launch will not occur before mid-2019

The responsible bodies of the financial center will communicate the exact launching date of the QR-bill in Switzerland the middle of this year. The implementation of the ISO 2002 standard is the prerequisite for a smooth data transmission in the QR-bill from a technical point of view. All banks changed over their systems to ISO 20022 last year. The switchover of business customers' accounting software to ISO 20022 by 30 June 2018 is the next important milestone. In order to give customers, software partners and banks enough time for the technical preparation of the QR-bill after this milestone, the QR-bill will not be launched before mid-2019.

The full-scale changeover of business customers' accounting software to ISO 20022 is the technical prerequisite for introducing the QR-bill. The Swiss financial center commissioned gfs.bern in June 2017 to measure the state of changeover work at companies. The results show that at that date, 60% of the companies affected by ISO 20022 had launched a changeover project while 40% felt that they would have completed the work by the end of June 2018. Thus the number of projects carried out more than doubled within one year in comparison with the previous survey conducted in summer 2016. Considering this dynamic, and in view of the intensified communications efforts and consulting activities of banks and software companies, we assume that this dynamic will intensify in the coming month and that a large majority of corporate customers will complete the changeover by 30 June 2018.

Unlike with ISO 20022, the QR-bill impacts all companies and consumers. The transition from the payment slip to the QR-bill is dealt with in a responsible way, with due regard to the economy and society as a whole.  To provide planning security for customers, software partners and banks, the Board of Directors and Executive Committee of SIX Interbank Clearing Ltd have decided not to launch the QR-bill before mid-2019.

Producers of accounting software and ERP systems are requested to offer QR-bill solutions to their clients by end-2018 at the latest to allow them to roll out the software at the time of market launch.