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Products & Applications

Lloyds to Roll Out Get Paid Invoicing Tool for UK Business Customers

Lloyds announced Get Paid, a no-extra-cost invoicing and payment tool for UK business customers, rolling out later this year.

AI News Feed · 2026-09-29 18:42

The tool is powered by Lloyds' strategic partnership with BankiFi, according to TechRadar, and is intended to support business customers with their payments administration without requiring them to buy separate invoicing or accountancy software.

“Businesses shouldn't have to pay extra for the tools they need to get paid,” said Ruchir Rodrigues, BCB Client Strategy & Commercial Director at Lloyds. “By building invoicing and payment collection directly into the Lloyds banking experience at no additional cost, we're making it easier for customers to manage cashflow and spend more time growing their business.”

TechRadar reported that Get Paid will allow business customers to create and send invoices, issue secure payment links and track paid and outstanding requests through the Lloyds app and online banking. Customers will also be able to use automated reminders, which Lloyds says will cut down the time spent following up payments.

Late payments remain a concern for many small and medium-sized businesses. TechRadar cited recent UK Government research finding that nearly half, 49%, reported their business customers typically take longer to pay than the agreed terms. The Office of the Small Business Commissioner also recently estimated that 14,000 businesses close each year because of late payments, while UK businesses are owed around £26 billion in overdue payments at any given time, an average of £17,000 per business.

Lloyds said the launch will contribute towards its view of “embedded accounting,” with all these systems in one central location allowing customers to manage more of their day-to-day finances in one place and reducing the need to move between separate systems and records.

Editor's Summary

Lloyds has introduced Get Paid, an invoicing and payment collection tool integrated into its app and online banking for UK business customers, with a rollout planned for later this year at no extra cost. The bank says the BankiFi-powered service will help customers manage cashflow and reduce time spent on payment administration. The move comes as late payments remain a significant burden for UK small businesses.