Virtual Account

Virtual Accounts provide a unique, scalable, and easily reconcilable payment method, commonly used for bank transfers. Each virtual account functions as a unique identifier—similar to a bank account number—linked to a specific transaction or customer. This association simplifies the reconciliation process for merchants.

Ways to Create a Virtual Account

Virtual accounts can be created in two modes, depending on your operational needs:

• Online Creation:

  • Individual: Generate a single virtual account per API request. This is commonly used to assign a unique account to a specific customer or transaction in real time.

  • Batch: Create multiple virtual accounts in a single API request, ideal for high-volume operations such as mass disbursements or invoice generation.

• Offline Creation: In countries where it is not possible to create virtual accounts online, or for users who prefer offline support, single or multiple virtual accounts can be created without having to integrate an API.

⚠️ Please note that offline creation is not supported in all countries. Each market may have specific operational or regulatory limitations. It is important to consult the Business Properties and country-specific notes to understand the available features and any constraints before implementing.

This flexibility allows you to tailor your integration to the needs and compliance requirements of each country where you operate.

Availability

Each country where Virtual Accounts are supported may have specific business rules, banking requirements, and regulatory considerations. The Business Properties section outlines these country-specific characteristics to help you configure and operate Virtual Accounts correctly within each market. This includes details such as settlement behavior, cutoff times, account availability, local currency constraints, and any additional metadata required for compliance. Reviewing this information is essential to ensure your integration aligns with local payment infrastructure and business practices.

Virtual account processing is available in the following countries:

Country	Local ACH Account	Length	Currency	Local ACH Example
Argentina	CVU	22 digits	ARS	0000003112345678901234
Brazil	PIX (email, phone, and random)	Up to 36 digits	BRL	dbda98ff-38d8-4882-9263-7b6cae304af6
Mexico	CLABE - SPEI	18 digits	MXN	014123456789012345
Chile	Account number	Up to 16 digits	CLP	007003670478

Processing time

The processing time for creating a virtual account may vary depending on the country selected. Below is the estimated time it takes for the virtual account to become active and ready to receive payments:

• Argentina: Up to 6 seconds

• Brazil: Up to 15 minutes

• Mexico: Up to 6 seconds

• Chile: Offline

Next Steps

Once a Virtual Account has been successfully created, there are several important steps to ensure it is integrated, used, and monitored effectively:

1. Provide Account Details to the Customer After successfully generating a virtual account, share the Virtual Account Number (VAN) with the customer to enable payment via local bank transfer. Configure the integration to automatically reconcile the payment upon receipt, using webhook notifications sent by Localpayment.

   To retrieve the VAN, use the value in thebeneficiary.bank.account.number field of the API response. Depending on the country, it may be necessary to also include additional fields such as bank.name, branch.code, or other local metadata. Refer to the Business Properties section to validate country-specific requirements.

2. Listen for Webhook Notifications Ensure your system is properly set up to receive and process webhook events. These notifications will inform you of incoming transfers and any updates to the virtual account status.

3. Implement Reconciliation Logic Use the one-to-one relationship between virtual accounts and customers or transactions to automate your reconciliation process, minimizing manual intervention and errors.

4. Handle Exceptions Prepare for edge cases such as unexpected payer accounts, partial payments, or transfers missing expected references, and implement fallback logic where appropriate.

5. Review Country-Specific Guidelines Visit the Business Properties section to confirm any country-specific behaviors—such as settlement rules, cutoff times, or supported features—before expanding your integration.

6. Contact Support When Needed If questions arise during implementation or operation, don’t hesitate to reach out to your integration manager or the Localpayment support team.

Also, you may need to perform additional actions, such as:

• Refund the transaction: If necessary, you can refund the payment to the customer. Refer to the Refunds documentation for details.

• Review transaction details: You can retrieve transaction information using the Localpayment API. See the Transaction Information documentation for details.