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iFAST Global Bank has launched Get Paid for its commercial banking customers, adding payment collection and tracking to its business banking services.
The product lets businesses create personalised payment links, generate QR codes and issue invoices through the bank's app and website. Users can also top up funds from external bank accounts and view incoming payments through a central dashboard.
The launch addresses a common challenge for smaller companies that still rely on manual transfers, separate payment platforms or traditional invoicing processes. These arrangements can slow reconciliation and leave finance teams with less visibility over when money has arrived.
Payments made through links and QR codes go directly into a customer's multi-currency business account with the bank. The dashboard provides instant payment notifications and real-time status tracking.
Businesses can also customise the terms of each request, including adding a company logo, setting expiry dates, defining payment limits and deciding how many times a payment link or QR code can be used.
Customers can create unlimited payment requests with no additional monthly subscription fee. Built-in invoicing is included for one-off and recurring invoices, along with automated overdue reminders.
SME focus
The offer is aimed at commercial customers, with particular emphasis on small and medium-sized enterprises. Payment collection has become an increasingly important area for banks and financial technology groups seeking to deepen relationships with business customers beyond deposits, cards and transfers.
For many SMEs, invoicing and collections remain fragmented across accounting software, bank transfers and third-party payment services. Bringing those tasks into a bank account interface may help firms reduce manual administration and monitor receivables in one place.
There are limits to the current rollout. Add money functions, payment links and QR codes currently support sterling only.
Get Paid sits alongside the lender's multi-currency business current account, which supports 11 currencies: GBP, EUR, USD, SGD, HKD, CNY, JPY, CHF, CAD, AUD and AED. The account carries no monthly fees, while domestic sterling payments and inbound international payments are free.
International currency conversion transfers are free for payments of £2,500 or more, or the equivalent in another currency. Transfers below that level incur a flat fee of £15 per transaction.
Eligible business customers can earn 2.65% AER on sterling everyday balances, while fixed-term deposits on sterling balances offer rates of up to 4.50% AER. Together, these features position the account as both an operating and treasury tool for businesses.
Bank background
iFAST Global Bank is a UK-licensed bank offering multi-currency deposits, payment services and remittance products. It is regulated by the Prudential Regulation Authority and the Financial Conduct Authority, and is a direct member of the Bank of England Faster Payment Scheme, CHAPS and SWIFT.
The bank is part of iFAST Corporation, a financial services group with operations in Singapore, Hong Kong, Malaysia, China and the UK. The parent group reported assets under administration of S$32.64 billion as of 31 March 2026.
In comments accompanying the launch, the bank linked the product to the administrative pressures facing smaller companies.
"Many SMEs rely on manual bank transfers, multiple payment platforms or traditional invoicing processes that can make payment reconciliation time-consuming and fragmented. Our new payments solution provides businesses with a simple and secure way to request, receive and track payments, helping business owners spend less time on administration and more time growing their business," said Steve Chu, Commercial Banking Manager, iFAST Global Bank.