Virtual Account Number API for Virtual Account

Virtual Account Number API for Virtual Account

In a general set up, we are usually aware of current and savings account. However, with the changing payments landscape, there is an exposure of a new league of accounts. These accounts are called virtual accounts.

They are different from your regular bank accounts!

These are not physical and exist temporarily to serve a purpose such as collecting recurring payments, making instant payments and reconciliation in real time. They are easy to create and can be linked to physical bank account to serve the purpose as required over time. They do not require exhaustive KYC, have less demanding physical costs and tend to extremely cost effective.

Virtual Account API is the way forward

Virtual account numbers can be created using integrated APIs. API or application programming interfaces receives request from an upstream system or gateway which demands the features as a service. The request is then processed using mandatory parameters and responds with an appropriate result.


Wondering if a Virtual account Number API provider can help?

A virtual account number API provider can help you set up different modes based on the requirement. It could be set up as a wallet, with a VPA or even without one.

  • With a virtual account number API, one is enabled to track a remitter's account. This helps in avoiding those multiple entries with respect to name, address, account number, IFSC codes etc.
  • There is a provision where one can choose to create a virtual account number in an adhoc set up by linking it with a virtual UPI id and IFSC code.

API gateways fare way better than regular payment gateways!

When it comes to VAN API providers, there are solutions which can be leveraged to set up the API gateways. If a virtual account number provider offers API services to create a virtual account number on the fly such that it eases the task of finding the remitter and tallying the collected amount, you could be sure that you have found the best virtual account number API provider in your vicinity.

B2B businesses love VAN API providers

Softcare Infotech Virtual payment account AP allow B2B businesses to thrive because they are simpler and cost effective to implement in the first place. If you are looking forward to streamlining the payment process for your business, you can always rely on virtual account number API providers to get the job done for you.

Virtual account numbers are the future

When it comes to implementation of VAN APIs, you can be sure that there would a complete package that usually contains features such as authentication, validation, routing rate, analytics, statistics and so much more. Additionally, it pertains to the latest technology that is looking at replacing payment gateways in the long run.

Payment systems are supposed to transparent and dynamic in their nature. With virtual account numbers paving the way for new technology to integrate and emerge, microservices based architecture and API services are here to stay for the long term.

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