Virtual Account
Virtual accounts are a collection/payin method that allows the Company to create multiple accounts and receive local ACH bank transfers with the benefit of having an easier reconciliation process by assigning the account to a specific merchant or end user.
Our Virtual account solution will allow you to create multiple accounts for your merchants and customers to have real time collections in local currencies.
Since each virtual account is unique, receiving funds into a specific virtual account makes it easier and faster for businesses to identify who made each transaction.
Users will be able to receive payments, through a more professional UX with real-time notifications.
It operates as follows:
LP client request to create Virtual accounts
LP provides virtual accounts Client delivers to end users the virtual accounts
End user executes payments to their virtual accounts
LP confirms the credits via callbacks
When you create a virtual account, you will receive a bank account number, with the detail:
Argentina
CVU
ARS
Brazil
PIX (Email and random)
BRL
Mexico
CLABE - SPEI
MXN
USE CASES
You can open Virtual account for C2C, B2C and B2B model
Virtual Account flows
Request Virtual Account API Status Flow
Virtual Account Creation
To request the creation of a Virtual Account use the following method:
Once the creation of a Virtual Account has been requested, you will receive notifications of the status of the request. To know the webhook notification format check the Completed and InProgress tabs in the following link:
Or you can check the status using the following method:
Receive payments through Virtual Accounts
After you have created the virtual accounts, users will be able to receive payments through the local ACH network. Localpayment will send real time 24/7 notifications for each Payin received to the URL configured as Callback
You can check the webhook notification format in the "On receiving a payment" tab of the following link:
Virtual Account Lookup: Non existent account Response
When a virtual account is queried using an externalId that does not exist in the system, the API returns an HTTP 404 response indicating that no matching record was found.
What Does It Mean?
A "non-existent virtual account" refers to a situation where the externalId provided in the request does not match any record in the virtual accounts database. This typically happens when:
The account has not been created or registered yet.
There was a typo or formatting issue in the externalId.
The account was deleted.
GET {{api_environment_url}}/api/virtual-account/{externalid}
Example
Frontend Report: Virtual Accounts created
To check the Virtual Account created from our frontend you can follow the following tutorial
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