What is iBanPay?
iBanPay is a payment assistant tool created by iBanFirst. Enhanced by AI, it helps you avoid errors and save time when preparing payments.
How does it work?
It's simple: just send your invoices to a dedicated email address (which we provide), and iBanPay will automatically prepare your payments securely. All you have to do is verify and confirm them!
More specifically, iBanPay creates payment drafts on your iBanFirst account after scanning, reading and extracting all of the important information (beneficiary bank requisits, amount, currency, etc.) from invoices you send by email. Seconds later, iBanPay responds, asking you to log in to your account to review and approve the payment draft or drafts.
How can I start using iBanPay?
Navigate to Settings on the iBanFirst platform (found on the left-hand menu)
You can then choose to Activate iBanPay (this option is only available for users with Admin rights)
Once you've activated iBanPay, you will receive a welcome email with your personalised email address that you will use whenever you send invoices.
How to activate and use iBanPay?
To activate iBanPay, log in to the iBanFirst platform.
Click on Account settings in the side menu*.
Click on Services and scroll down to activate iBanPay.
You'll receive a welcome email with some instructions.
Once iBanPay is activated, you have two options:
Upload your invoices (up to 10 invoices in separate files in PDF, JPG or PNG format) via the drag & drop section on the platform
Forward your invoices (in PDF, JPG or PNG format) to your company’s dedicated email address (included in your welcome email).
Once you've uploaded or forwarded your invoices, you can review and validate your payment drafts on the platform.
*This service can only be activated by users with administrator rights. If you don't have administrator rights and you want to use iBanPay, please contact your Account Manager.
Is iBanPay secure?
Absolutely! This tool is very secure as it uses personalised security codes that you receive via email. This ensures all communications with iBanPay are legitimate and private.
Does iBanPay work with invoices that aren't in PDF format?
Yes, in addition to PDF files, iBanPay can process invoices in JPEG and PNG formats.
Can I send several invoices at the same time?
Yes, iBanPay can detect several PDF invoices in the same email, provided they're in separate files. The payment assistant cannot identify several invoices within one document.
What does the iBanPay Welcome email look like?
Here's what the email will look like...
The iBanPay email will be formatted as [email protected].
How many users from the same company can run their invoices via iBanPay?
There's no limit regarding the number of authorised users. We recommend adding your shared invoice email address ([email protected]), as well as individual email addresses, depending on your internal processes and setup.
What response can I expect from iBanPay?
There are three possible responses you may receive after sending one or more invoices:
Your invoice has been processed: you can now review and validate the payment draft directly on the platform in the Payment > In progress section.
Partially-processed invoice: you'll need to fill in any missing information via a secure webpage.
Unprocessed invoice: you'll need to refer to the iBanPay guidelines; what you need to do will depend on the reason the tool was unable to process your invoice (missing attachment, unsupported file format, duplicate invoice, unavailable service).
Which account will iBanPay use if you have several in the same currency?
iBanPay will use your Principal Account in the relevant currency. You can change this in the Accounts section of the platform.
Does iBanPay detect and discard already-processed invoices?
If you have already processed the invoice using the tool, it will recognise the invoice ID and that has already been imported and won't process the invoice again.
Does iBanPay detect new beneficiaries?
Yes, iBanPay can determine if your payment is going to a new beneficiary and can detect missing information for existing beneficiaries.
Does iBanPay recognise invoices with discounts for early payment?
Not yet.
If you encounter any technical issues, please contact our CSM team at [email protected].