What is the purpose of the Qwist reference in the reference text of an initiated payment?

As a payment institution, Qwist is obliged to provide your bank with a reference that enables it to track the transaction. This serves in particular the investigation of complaints or liability cases. The reference text offers the greatest possible transparency for all parties involved in the transaction. In addition, the reference enables us to delete your personal data in the case of single payment initiations and still be able to speak to you, your bank and the financial supervisory authorities regarding the implementation of your initiation.