Term
What is EPC QR code? Meaning and explanation
An EPC QR code is a standardised payment QR code on an invoice with the IBAN, payee name, amount and description, which the payer scans with a phone to make a transfer straight away.
Definition
An EPC QR code is a standardised payment QR code on an invoice with the IBAN, payee name, amount and description, which the payer scans with a phone to make a transfer straight away.
Also known as: EPC QR-code, EPC betaal-QR-code, Betaal-QR-code, SEPA QR code, GiroCode
The EPC QR code is a European Payments Council standard for SEPA credit transfers. The code contains the data needed for a payment: the payee's name and IBAN, the amount and a description or payment reference. In Germany and Austria it is known as GiroCode. The payer scans the code and the transfer is ready, pre-filled.
For a firm's clients, a payment QR code lowers the barrier to paying an invoice straight away. There is no need to retype the IBAN and invoice number, so payments come in faster and carry the correct description. That also helps the firm: a payment with the right invoice number is easier to match and reconcile.
In Autoboeker's invoicing module, your client can switch the EPC payment QR code on or off on their invoices. Recipients scan the code with their phone camera; this works with ING, Knab, bunq, ASN and SNS. The QR scanner in the Rabobank app only supports iDEAL and does not work with this code. Besides the QR code, payment via iDEAL through Mollie is available. Invoicing is an add-on at €5 per month per administration.
Example
A photographer's customer opens the PDF invoice, scans the QR code with the phone camera and confirms the transfer in the banking app, with the invoice number already filled in.
FAQ
Questions about EPC QR code.
In Autoboeker's invoicing module, the code works with ING, Knab, bunq, ASN and SNS. The QR scanner in the Rabobank app only supports iDEAL and does not work with this code.
An EPC QR code pre-fills a regular bank transfer. An iDEAL payment runs through a payment page, for example Mollie's, where the payment status is known immediately.
Further reading
Related in the knowledge base.
Platform
Integrations
See Autoboeker in your own administrations.
In a 30-minute demo, we show you how Autoboeker works with your firm's accounting software and way of working.
Cancel monthly · Free onboarding and check-ins · 30-day money-back guarantee
