A QR payment on an invoice is the simplest way to make paying easier for your customer while reducing the number of incorrect payments. They just scan the code in their mobile banking app and get the whole payment order pre-filled - the recipient, IBAN, amount and variable symbol. In Slovakia this code is defined by the Pay by Square standard. In this article we will look at exactly what it contains, why it pays off to put it on every invoice and how to create one quickly using our QR payment tool. If you are interested in the wider use of codes in business, read our article on QR codes for businesses too.

What is Pay by Square

Pay by Square is a payment standard for QR codes used in Slovakia and the Czech Republic. Its purpose is to unify the way payment data is encoded into a QR code so that every banking app can read it the same way. Thanks to this, it does not matter whether the customer holds an account at Slovenska sporitelna, VUB, Tatra banka or another bank - the code simply works.

The standard was created so that people no longer have to manually retype long account numbers and symbols when paying. Instead, a single scan is enough. What used to be a minute of careful typing is now a matter of two seconds.

Why put a QR payment on an invoice

The main benefit is speed and accuracy. When a customer sees a QR code on the invoice, there is no need to open internet banking on a computer, look up the IBAN and retype it character by character. They open the bank mobile app, scan the code and just confirm the payment. The whole transfer takes a few seconds.

The second benefit is fewer errors. When manually retyping an IBAN or a variable symbol, a typo happens easily. The payment then arrives with the wrong variable symbol or, in the worse case, to someone else’s account. That means unmatched payments, follow-up reminders and needless admin on your side. A QR payment practically removes this error rate, because all the data is in the code exactly as you entered it.

The third benefit is perception. An invoice with a QR payment looks professional and modern. The customer appreciates that you made paying as easy as possible, and you have a better chance of being paid on time.

What data a QR payment contains

A payment QR code based on Pay by Square carries all the information the bank needs to create a payment order:

  • Recipient IBAN - the account number the payment should reach.
  • Amount and currency - the exact sum to pay, by default in euros.
  • Variable symbol - usually the invoice number, which lets you match the payment unambiguously.
  • Note for the recipient - optional text, for example the purpose of the payment or the name of the service.

Optionally you can add a constant and specific symbol or the recipient name. After scanning, the customer sees all these fields pre-filled and just confirms the payment. There is nothing to add or correct.

How to create a QR payment

Creating one takes just a moment. Open our QR payment tool and fill in the basic fields - the recipient name, IBAN, amount and variable symbol. Optionally add a note, for example the invoice number or the name of the service. A QR code based on the Pay by Square standard is generated instantly.

It all runs directly in your browser, so the data you enter is never sent anywhere and you do not need to register. You download the code as an image and paste it into your invoice, email or document. If you need to encode other types of information, for example a website link or a business card, use the general QR code generator.

Where to place the QR code

The most natural place is the payment section of the invoice, that is where you already list the IBAN, amount and variable symbol. Place the code next to these details so the customer finds it right away. The ideal size is one that scans comfortably from paper and from a screen, usually around 2 to 3 cm per side is enough.

You do not have to limit the QR payment to the invoice only. It also works very well in these situations:

  • Invoice email - paste the code straight into the body of the message so the customer does not even have to open the attachment.
  • Advance invoice or proforma - it speeds up the advance payment so you can start the job sooner.
  • Reminder - on a reminder for an unpaid invoice, the QR code lowers the barrier so the debtor stops postponing the payment.

It works in all Slovak banks

Since Pay by Square is a national standard, a QR payment can be scanned by the mobile app of any Slovak bank. This applies to Slovenska sporitelna, VUB, Tatra banka, CSOB, mBank, 365.bank, UniCredit and others. So you do not have to worry about which bank the customer uses - the code always works the same way.

For businesses and sole traders this means one thing: adding a QR payment to an invoice is fast, free and instantly improves both the customer experience and your payment records. Try it right now using our QR payment tool.

This article is part of our Business and IT overview.