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Paysafecash is the convenient cash payment solution for the new QR code invoice in Switzerland

On 1 October 2022, a significant change will occur in payment services in Switzerland: the paper payment slips, which are often referred to as paying-in slips, will be discontinued.

From 1 October, the previous red or orange paying-in slips will be withdrawn from circulation in Switzerland. As of this date, only invoices with a QR code are permitted. These new QR invoices have several advantages, they can now be conveniently scanned, making payments faster and less susceptible to errors.

eCash bridges the gap

Not only will payment transactions be digitised, but the digitisation of cash is also moving forward. eCash as an online cash payment method bridges the gap from cash to a digital payment method. With this, consumers who still prefer cash as a payment method can now also use it even more conveniently for their online or invoice payments.

With the PaysafecashCH app, the QR code on the invoice can be scanned and converted into a barcode. Customers can now scan this barcode around the corner from them with one of the 2,500 payment points or SBB ticket machines and settle their invoices in cash. The laborious typing of account and reference numbers is no longer necessary.

Cash is king

For 78% of Swiss consumers, cash is still a payment method that they use at least once a week. Here, cash is still king and has overtaken debit cards and credit cards by significant percentage points, by 11% and 25% respectively. Even though mobile payments have gained a lot of popularity, especially during the pandemic, 20% of Swiss people also use their smartphone to scan the QR cods and pay directly in shops.

Therefore, cash is not being displaced, but digitised, so that everyone who needs to or would like to pay their invoices in cash can also keep this option. Technology is not only making QR code payments particularly convenient, but also very secure, which is very important to 25% of consumers in Switzerland. The introduction of QR codes on the invoices bridges the gap between the traditional and digital payment methods and allows them to coexist on a complementary basis, which is particularly relevant for cash payers.

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