Virtual Account ajuste

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.

You can request the creation of virtual accounts individually or in batch.

How it Works

The process of using virtual accounts through Localpayment involves the following steps:

1. Create Virtual Accounts: The merchant initiates the process by creating virtual accounts through Localpayment's platform. Each virtual account is uniquely generated to facilitate individual tracking.​

2. Virtual Account Creation: Localpayment generates a unique virtual account number (VAN) (and associated bank details like beneficiary name, bank name) specifically for this transaction or customer. This information is returned to your application.

3. Assign to Customers: Each virtual account is assigned to a specific customer, ensuring that incoming payments can be accurately attributed to the correct source.​

4. Customer Initiates ACH Transfer: Customers perform local ACH bank transfers, directing funds to their assigned virtual account numbers. This method ensures that payments are routed correctly without the need for additional identifiers.​

5. Real-Time Reconciliation: Upon receipt, payments are automatically reconciled in real-time 24/7. Localpayment's system performs automatic matching of incoming funds to the designated virtual accounts, with immediate updates to transaction records.

6. Notification: Merchants receive instant notifications for successful payments. These alerts confirm transactions and provide key details for efficient financial management.

Virtual Account Flow

Use Cases

Virtual accounts offer a flexible and efficient way to manage and reconcile local bank transfers. Below are some common use cases where virtual accounts are particularly valuable:

• Marketplaces and E-commerce Platforms: For collecting payments from sellers or from buyers who use bank transfers, ensuring each payment is correctly assigned to the corresponding order or seller.

• Fintech Companies and Digital Wallets: Enable users to top up their wallet or digital account balances via bank transfers, with instant and accurate allocation of funds.

• Lending and Credit Platforms: Facilitate the automated collection of loan repayments, as each debtor can have a unique virtual account for their installments.

• Remittance Services: Simplify the receipt of funds for beneficiaries by offering a local, unique account number for each transaction or recipient.

• Businesses with High Volumes of Bank Transfers: Any business receiving a large volume of payments via bank transfer (such as services, subscriptions, B2B suppliers) can drastically automate their accounting and reconciliation processes.

• Crowdfunding/Investment Platforms: Allow investors or donors to transfer funds to specific projects, ensuring the correct allocation of contributions.

• Cross-border Collection for International Merchants: International businesses can collect payments in local currencies through virtual accounts, simplifying the customer experience and reducing FX complexity on the payer’s side.

Availability

Virtual account processing is available in the following countries:

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

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

Before Creating a Virtual Account

Before submitting a request to create a virtual account, ensure you have completed the following:

1. Generate an Access Token (Required): You'll need a valid access token to authenticate your API requests. Refer to the Generate an Access Token documentation for instructions.

2. Validate Identity Document (Optional): You can optionally validate the customer's identity document information before processing the payment. This helps prevent transaction failures and ensures compliance with local regulations. Refer to the Validate Identity Document documentation for more information.

3. Get National Holidays (Optional): You can optionally retrieve information about national holidays in the relevant country. This information can be useful for anticipating potential delays in bank processing. See the Get National Holidays documentation for more information.

Steps to integrate Virtual Account

Integrating Localpayment's Virtual Accounts into your system involves a series of steps to enable seamless account generation, payment reception, and automated reconciliation. Virtual accounts can be created either online via API or offline through coordination with our support team. Follow this guide to configure and manage virtual accounts for your customers efficiently.

1. Create a Virtual Account: Use the Localpayment API to programmatically create virtual accounts for your customers or transactions. For creating multiple accounts simultaneously, utilize the Create Virtual Accounts in Batch endpoint.

2. Retrieve Virtual Account Information: After creating a virtual account, you'll need to retrieve its details and present them to your customer so they can complete the payment.

3. Enable/Disable Virtual Account: You can temporarily enable or disable a virtual account using the corresponding endpoint. Disabling an account prevents further payments but does not delete the account entirely. This is useful for account management without data loss.

4. Delete Virtual Account: If the account is no longer needed, you can delete it permanently.

5. Virtual Accounts Alias (Brazil only): For operations in Brazil, enhance the payment experience by using aliases for your virtual accounts.

For offline virtual account creation, please refer to the Offline Virtual Account Creation article.

Next Steps

Now that you have successfully generated a virtual account, you can share the Virtual Account Number (VAN) with your customers to start receiving payments via local bank transfer. Once payments are received, they can be automatically reconciled through your Localpayment integration.

The VAN to share with your payers is located in the beneficiary.bank.account.number property of the API response:

...
"bank": {
    "branch": {},
    "account": {
        "number": "646011319800023123",  // This is the VAN to share
        "aliases": [],
        "owner": {
            "document": {}
        }
    }
},

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.

• Handle chargebacks: In case of a dispute, you may need to handle chargebacks. Refer to the Chargebacks documentation for information on this process.

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