Bank Account Entry Now Powered by Plaid

Starting November 16, 2026, we're gradually rolling out a new way for buyers to add bank accounts through Plaid, a trusted third party that supports more than 10,000 banks and financial institutions.

Instead of typing in bank account details, buyers select their bank and sign in to it directly through the Plaid system. Bank account information gets transferred directly through Plaid and the bank. This confirms the user is authorized to use the account and makes adding a bank account more secure.

What's New

• 'Add Bank' in the customer portal now opens a secure, Plaid-hosted flow. Buyers select their bank, sign in and choose the account they want to use. They're then returned to Versapay.

• Buyers can add several accounts from the same bank at once.

• The invitation to add a payment method now includes bank accounts. When a buyer opens the invitation, they can add a bank account as well as a card. This lets suppliers collect payment methods before a payment is due.

• Manual entry of bank account details is no longer available in the customer portal. This also applies to suppliers using Customer Support Mode to act for a buyer.

What Stays the Same

• File-based bank account uploads are still available.

• Buyers' existing saved bank accounts are not affected.

Business Value
Signing in to their bank directly through Plaid confirms a buyer is authorized to use the account they add. This lowers the risk of fraud and errors and gives suppliers more confidence in the accounts used to pay their invoices.

Action Required?
No action is required. To get the most from this change, we recommend that you:

1. Let your buyers know they will now add bank accounts by signing in to their bank through the Plaid-hosted flow.

2. Use the invitation to 'add a payment method' to ask buyers to connect their bank using Plaid, instead of entering them yourself manually in Customer Support Mode.

If you have questions, contact Versapay Support at [email protected] or (866) 999-8729.