Virtual Account is now gaining spotlight in the public eye. This non-physical bank account offers the same advantages as a physical bank account structure, except that Virtual Account is packaged with a virtual concept without admin fees for creation and a minimum initial balance.
As the name implies, Virtual Account is a bank account with virtual nature. This account consists of a customer ID number systematically created by the bank. Virtual Account can be created according to the company's request to carry out a transaction. Transactions done through this payment method carry their own characteristics that make it easier for you to run a business. So, what are these characteristics? What makes Virtual Account to be different?
Fast and Practical Payment Verification
There are several things that differentiate manual bank transfers from Virtual Account transfers. In manual bank transfers, payment confirmations or money transfers are usually done manually by the bank. Payment confirmations are usually received in the form of proof as bank receipts or e-banking notifications.
Meanwhile, Virtual Account verifies and confirms transactions automatically so you don't have to wait for payment confirmation from customers because successful transactions will be detected immediately by banks.
Easy Reconciliation Process
Virtual Account makes it easier to reconcile payments because access to transaction reports is recorded in complete and thorough manner without having to change the financial system in your business.
Payment Identification in the form of a Unique Code
In Virtual Account, there is a unique code. This unique code functions as an identification tool that can identify where the source of funds come from. Transactions can be confirmed faster and run seamlessly.
Account Customization as Needed
Virtual Account can be created and managed according to your business needs. The settings include the type of Virtual Account usage, the limit for receiving money, and also for the number of times the account can be used.
Customers Can Make Transfers from Different Bank Accounts with Sellers
One of the biggest advantages of Virtual Account is that your customers don't need to have the same bank account as your business’. This feature will certainly make it easier for customers to make transfers and increase business payment activity.
Create a Virtual Account with OY! Bisnis
Now, you can increase your treasury efficiency with API Virtual Account from OY! Bisnis. You can make and receive payments via Virtual Account easily through OY! Bisnis.
Receiving payments through a Virtual Account can certainly optimize the efficiency of receiving sales from your business. OY! Bisnis provides convenience in providing the best payment services for your business in carrying out transactions.
Start creating an account on the OY! Bisnis portal or contact our Business Development team at business@oyindonesia.com for more info.
