Depending on your bank’s application, it can contain:
- payment order
- bulk payment order
- standing order
- direct debit
PAY by square is an electronic format for several types of payment orders and can hold up to 5 bank accounts in IBAN and BIC format. PAY by square is compatible with SEPA.
(Tip: Scan the QR code above with a bank app on your phone to see how it works.)
How do QR payments work?
PAY by square has become the standard for encoding of payment information into QR codes in Slovakia. Clients no longer have to rewrite payment details from the invoice, it is enough if they scan the QR code with their bank’s mobile app.