Introducing: Virtual Bank Accounts

Accept payments instantly from your customers through their dedicated customer account.

We're super excited to introduce Virtual Bank Accounts as a new way to accept payments for all our Merchants! Typical bank transfers are a popular and widely used payment method. With Virtual Bank Accounts, it becomes so much more convenient to receive payments from customers using this payment method.

About Virtual Bank Accounts

A Virtual Bank Account (Virtual Account) is a special type of bank account that is dedicated to a single customer. With a Virtual Bank Account, your customers can easily pay you by simply making a transfer to the account assigned to them. This means that you won't have to generate a new bank account for the customer every time they need to pay you. Every payment made into the virtual account is associated with the customer to which it is assigned.

Here's why your customers would love Virtual Bank Accounts

  1. Most customers are already familiar with bank transfers as a payment method. Virtual Bank Accounts make it more convenient for customers to pay you through this payment method since the account is dedicated to them.
  2. Customers can easily make payments without having to give out their payment information.
  3. Customers can pay you at any time from their preferred banking channels, making payments flexible and absolutely stress-free.
  4. More alternative payment methods mean wider customer reach and improved reliability on your payments.

How Virtual Bank Accounts work for you

Every virtual account you create for your customers is automatically linked to your Korapay account such that any payment made into these accounts reflects in your Korapay Balance. When a customer makes payments to their virtual account, the transaction is also recorded on the Pay-ins page of your dashboard. You would be notified of these transactions through webhooks and you'll be able to verify the payment. You can also see all the Virtual Bank Accounts that you create for your customers, as well as details of these accounts on your dashboard.

Virtual Bank Accounts provide a great opportunity for businesses like yours to expand their payment possibilities and growth. To get started with Virtual Bank Accounts on Korapay, sign up here, or log in to your dashboard here if you already have an account. See our API Documentation to learn more about Virtual Bank Accounts.

Need any help?

If you have any questions about Virtual Bank Account, kindly reach out to us at [email protected]. We are more than willing to help!