Payments and banking

EPC QR code (SEPA QR)

A QR code standardised by the European Payments Council that holds the data of a SEPA transfer so the payer can pay an invoice by scanning it.

What EPC QR code (SEPA QR) means

The EPC QR code, also called GiroCode in Germany and Austria or SEPA QR, encodes the beneficiary name, IBAN, amount, currency and a payment reference or remittance text in a format defined by the European Payments Council. A banking app that supports it fills in the transfer form from the code, so the payer only confirms. Typing errors in the IBAN or the reference disappear.

Support is strongest in the German-speaking countries, Belgium, the Netherlands and Finland, while some countries use their own national QR schemes for domestic payments, such as the Czech and Slovak QR platba or the Polish and Croatian standards. Kontevia prints the appropriate QR code on invoices according to the country of the issuer and reads QR codes on received invoices to pre-fill the payment.

Related terms

SEPA (Single Euro Payments Area)The area in which euro transfers and direct debits work under the same rules and at domestic cost, covering all EU countries and several neighbours.IBANThe international bank account number used for all SEPA payments. Country code, check digits and the national account identifier in one string.Bank reconciliationMatching every transaction on the bank statement with an invoice, receipt or other record so the books and the bank agree.

This entry is general information, not tax advice. Rules change; check the current position with your adviser or the tax authority of your country.

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