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According to financial services provider Six, approximately 70 million e-invoice transactions will take place in Switzerland in 2023. This corresponds to a growth of over 20 percent compared to the previous year. More than half of Swiss households already use E-Invoice for online banking, but there is still much to improve. Look, it tells you what it’s about.
What is e-invoice?
E-Invoice is the abbreviation of “electronic invoice”. Specifically, the service provider creates a digital invoice in an accounting or financial software solution and instantly sends it to the sender via email and/or a web-based portal, often directly to online banking such as Postfinance’s e-finance. There the bill can be paid in 1-2 mouse clicks.
How can I switch to e-invoice?
E-Invoice has been around since 2018 and 95 percent of all Swiss financial institutions allow such payments. Many billers now offer E-Invoice, especially large telecommunications providers, health insurance companies, energy suppliers, public administrations and credit card providers . In online banking, payers are often sent questions about whether they want to pay their bills using e-invoices, and they can accept or decline. Or – if available – they actively select the biller from whom they want to receive invoices via e-invoice.
What are the advantages of e-invoice?
E-Invoice is an efficient and time-saving method for both billers and payers. There are almost no errors (e.g. when entering a long IBAN number) as all billing information is already available. Additionally, paperless payment significantly reduces paper consumption. With e-invoice permanent release, you can also give automatic release to the organization that issued the invoice according to the specifications. This way, no invoice will be forgotten.
What are the disadvantages?
Hackers could potentially intercept or view electronic invoices; This can lead to data breaches or financial fraud. Therefore, it is not recommended to use public computers or unsecured networks for bill payments. Email notifications regarding receipt of an e-invoice invoice may also result in spam. It’s worth checking your spam folder or online banking regularly.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
