Virtual Account

Virtual accounts are designed to simplify how you receive funds from your customers or manage transactions for specific purposes. They offer flexibility and security without the need for traditional bank account setups. Let's explore two distinct types of virtual accounts that cater to different payment needs

There are two types of virtual accounts we offer:

Reserved Virtual Account

Reserved Virtual Accounts are designed for ongoing transactions and are linked to specific customers . Once created, these accounts remain active until manually deleted by the merchant. They are ideal for managing recurring payments such as subscriptions, memberships, or regular invoices. Reserved Virtual Accounts streamline the payment process by providing a consistent payment channel without the need for repeatedly sharing new payment details.

Temporary Virtual Account

Temporary Virtual Accounts, in contrast, are temporary and intended for single-use or short-term transactions. These accounts are created with a specific expiry date or are set to expire immediately after the completion of a designated transaction. They offer a secure and efficient way to handle one-time payments, event registrations, or temporary service engagements.

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Virtual Accounts, whether Reserved or Temporal, enable businesses to optimize payment collection processes, enhance financial management capabilities, and provide a seamless payment experience for their customers. Embracing these virtual account solutions supports operational efficiency and aligns with modern payment trends, ensuring businesses can adapt and thrive in today's digital economy.