In this modern age, customer experience is king. Companies must meet or exceed consumer expectations to thrive in any industry. However, some organisations often forget about one crucial aspect of customer service: payments.

If you don’t use easy integration logic on your payment solutions, you might lose clients during a critical phase of the buying process. At Payconiq, we offer value-added services to banks, online payment service providers, and merchants.

Today, we boast state-of-the-art processing methods that involve tailored QR codes. We recently launched such services for third-party bank apps. Read on to learn how our system is shaping the future of payments in Europe.

Using QR Codes in Invoicing

In 1994, Toyota subsidiary Denso Wave invented the first QR code system to track vehicles and parts. Since then, they have gained global popularity.

The QR code is a machine-readable representation of text-based information. You can read it through a scanner, software, or mobile app to gain instant access to a desired digital or physical landing page. Today, you can find a QR code across many platforms, from documents to calling cards and billboards.

Payment industry leaders created another QR code-based solution in recent years — declaring electronic invoices to tax authorities to improve the reconciliation process. Organisations now use QR codes to process taxes, protecting consumers from fake invoices, income declarations, and deduction claims. Customers can easily verify the validity of documents by using QR codes.

In Europe, these countries have started or plan to start implementing such a system after a recommendation from the Organisation for Economic Cooperation and Development (OECD):

  • Austria
  • Germany
  • Poland
  • Portugal
  • Sweden

Additionally, these countries outside Europe have begun their QR implementations:

  • Bolivia
  • Colombia
  • Guatemala
  • India
  • Peru
  • Quebec

Using such a structure involves prior validation by a tax authority. It can immediately report fiscal documents used in a sale of a product or service by a taxpayer.

Cross Border Digital Payments Are the Norm

Our company has been serving the payment needs of banks, online payment service providers, and merchants across Belgium, the Netherlands, and Luxembourg for the past seven years.

In today’s digital era, we believe that mobile payments should be the norm. As payment methods like cash, credit cards, and card readers are decreasing, we accompany scalable solutions and mobile usage.

We specialise in inquisitive in-store payments, which we transform through QR codes. Today, we are proud to offer QR codes as invoice solutions for third parties as white-labeled services.

Below are some advantages of working with us to integrate tailored QR codes with company invoices, whether they’re printed or in PDF form.

Improve Reconciliation Process

Reconciliation is one of the most daunting accounting tasks. However, it’s a necessary process because it ensures that the money spent or earned by a company matches the amounts that left or entered a business account.

If you’re a growing company, this system may be a tedious task. A QR code system simplifies this process, preventing entrepreneurs from getting overwhelmed.

Integrate with Bookkeeping Software

Bookkeeping software can enable organisations to save time, sync financial data, and promote accuracy. The good news is, a QR code system also integrates seamlessly with an extensive range of software packages.

With reliable bookkeeping software and our QR code system on your side, you can speed up internal processes without compromising your customer experience.

Use Patented Solutions

Payconiq owns the intellectual property (IP) rights to all the technologies we offer. This ownership allows us to provide our clients with flexible, fast, and customised solutions for varying needs.

Work with Payment Experts

With a professional team on your side, you’re in good hands. We are a team of payments experts with decades of relevant industry experience. Our departments adhere to the strictest security standards, which keeps transactions quick and safe.

Simplify Your Payments Now

Do you need tailored help to streamline your reconciliation process? If you do, we’re the ideal partner for you. We can develop a customised solution specific to your needs, which can help you simplify your payment methods while elevating your customer experience. Contact us for more information

Sources

  1. Payconiq https://www.payconiq.com/
  1. Edicom https://www.edicomgroup.com/en_US/news/14458-what-is-a-qr-code-and-how-is-it-used-in-invoicing.html
  1. IPSI https://ipsi.com.au/5-ways-payment-systems-impact-customer-experience/#:~:text=Collecting%20payments%20is%20critical%20to,acts%20on%20the%20buying%20decision.