Lloyds' new in-app invoicing tool wants to help UK small businesses cut their admin for good

Date:
Tue, 29 Sep 2026 08:51:53 +0000

Description:
Get Paid from Lloyds looks to help small businesses cut their admin burden
for good.

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter Lloyds launches new invoicing and payment collection tool Get Paid will give business customers a central location for invoicing and payments It will roll out later this year to UK business customers Lloyds has launched a new tool designed to help its business banking customers spend less time on admin and more time actually running their business.

The new Get Paidinvoicing and payment collection tool will look to support business customers with their payments admin within their existing Lloyds app and online banking platform. Powered by Lloyds strategic partnership with BankiFi, the service will come at no additional cost and without the need to purchase separate invoicing or accountancy software. Latest Videos From TechRadar Watch full video here: Get Paid 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. You may like UK small businesses are spending more on software - but also
spending more time on admin Free payroll software: Take the sting out of payroll with this incredible deal A unified front against fraud: Securing the UK's payments future

Get Paid will mean Lloyds business customers can now carry out tasks such as creating and sending invoices, issue secure payment links and track paid and outstanding requests through the Lloyds app and online banking.

Customers will also be able to send invoices and use automated reminders, cutting down on time being spent following up payments from their customers. Late payments are a particular concern for many SMBs, with recent UK Government research finding nearly half (49%) reporting their business customers typically take longer to pay than the agreed terms. Are you a pro? Subscribe to our newsletter Sign up to the TechRadar Pro newsletter to get
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The Office of the Small Business Commissioner also recently estimated 14,000 businesses close each year because of late payments and UK businesses are
owed around 26 billion in overdue payments at any given time, an average of 17,000 per business.

Lloyds says the launch will contribute towards its view of "embedded accounting", as having all these systems in one central location will also
let customers manage more of their day-to-day finances in one place, with
less need to move between separate systems and records. Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.



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Link to news story: https://www.techradar.com/pro/lloyds-new-in-app-invoicing-tool-wants-to-help-u k-small-businesses-cut-their-admin-for-good


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