iplicitPay is a new payment method that lets you pay suppliers directly from iplicit using Open Banking. Instead of exporting payment files and uploading them to your bank, you complete the entire payment process without leaving iplicit. This article explains what iplicitPay does, how it works and what it costs.
iplicitPay is coming soon. Check the release notes to see when iplicitPay becomes available — we'll publish a full user guide when it's ready to use.
What iplicitPay does
iplicitPay connects iplicit to your bank via Open Banking. When you run a supplier payment in the Purchase Ledger, iplicitPay sends the payment directly to your bank for authorisation — no file export required.
This is additional functionality. iplicitPay does not replace existing payment methods. You can continue using BACS file exports, manual bank transfers or any other method that works for your workflow. iplicitPay simply gives you another option.
Why use iplicitPay for supplier payments
Security without file handling
Traditional payment file exports can end up on shared drives, attached to emails or uploaded to the wrong bank portal. With iplicitPay, there is no file. Payments go directly from iplicit to your bank via Open Banking, authorised through your bank's secure login. Sensitive supplier bank details never leave the system as a downloadable file.
Convenience within iplicit
iplicitPay follows the same workflow as existing bulk payments in the Purchase Ledger. The difference is that iplicitPay sends the payment directly via Open Banking instead of generating a file for you to upload elsewhere. You stay in iplicit throughout.
Real-time visibility of payment status
Track whether payments have been sent, authorised or failed directly within iplicit. You don't need to log into your bank separately to confirm payment status.
Bank compatibility for iplicitPay
iplicitPay works with any UK bank that supports Open Banking. This includes most major high street banks and building societies. International payments are on the roadmap for later phases - at launch, iplicitPay supports UK domestic payments only.
iplicitPay pricing
iplicitPay costs 40p per successful payment. The fee is collected automatically as part of the payment run - collected from the bank account.
There is no monthly fee, no setup cost, no minimum volume and no ongoing charges. If a payment fails, you are not charged.
This is in line with what mid-market businesses already pay their bank for BACS transactions, but without batch fees, file submission fees or separate systems to manage.
What happens if an iplicitPay payment fails
If a payment fails, iplicit notifies you by email. You can reattempt the payment directly within iplicit without starting the process again from scratch.
You are only charged for successful payments. A failed transaction incurs no fee.
When iplicitPay will be available
iplicitPay is coming soon. We'll update our release notes when it's ready to use and publish a full setup guide at that time.