Mobile Banking, Innovation, and moving Mainstream

By | September 20, 2013
SEPA QR-Code shows up in my Banking app

One of the biggest annoyances of the SEPA transfer system is that consumers have to type this really, really long string of numbers and letters in to transfer money. And we consumers don't like that (compared to the short Bankleitzahl / Kontonummer scheme that we Germans are used to). That's where the QR code comes in.

The SEPA QR Code allows you to capture the details of the transaction via a QR code, saving the data entry pain – assuming, of course, that you have a smart phone. But over 50% of us do anyway. And today, I spied an update in my eBanking app (Banking 4a) allowing input via SEPA QR – so it looks like this technology may go mainstream. I have yet to see the QR code being offered on most online shops and paper Überweisungsformulare, though… so just one piece left to the adoption puzzle!

EPC | Knowledge Bank – Quick Response Code: Guidelines to Enable Data Capture for the Initiation of a SEPA Credit Transfer
SEPA Benefits for Customers · What is a Payment Scheme? SCT / SDD Rulebook Release Management and Scheme Development · SEPA Migration – Reports, Case Studies and Indicators · The EPC Migration Tool Kit: Get Ready for SEPA by 1.2.2014 …

One thought on “Mobile Banking, Innovation, and moving Mainstream

  1. Dirk Reul

    I hope that will also allow normal webcams to be used for it. Frankly, I mostly use online banking on my computer and not on my smartphone. Oh well, if all else fails, I have to enter them manually. 

    Reply

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