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How to Collect and Track Payments like a Pro with Virtual Account API

How to Collect and Track Payments like a Pro with Virtual Account API


Would you believe it if we told you that with virtual accounts, you could bid goodbye to your physical bank setups and manual tracking of payments? Yes, you heard it right! Virtual Account API enables you to receive and manage expenses, track transactions and reconcile accounts virtually.

Virtual Payment API bestows businesses with immense benefits, including streamlined payment management, enhanced payment accuracy, improved payment security, flexibility and scalability, and increased cost savings.

By providing virtual bank accounts for customers, suppliers or partners, businesses, both large and small-sized enterprises, can reduce the operational cost, expand their reach, speed the transaction process, boost their efficiency and manage multiple accounts proficiently. To learn more about virtual accounts’ integration process, payment tracking methods, etc., continue to read the blog.

Integrating Virtual Account API into your existing payment system:

One should plan, configure and test that payment gateway are processed correctly, tracked promptly and reconciled accurately before integrating Virtual Account API into an existing payment system. It requires experts’ help, such as a developer or integration specialist, to set up the virtual account correctly, taking all the necessary steps for the security and accuracy of payment.

Though the integration of Virtual Account API into an existing payment system differs depending on the usage of a specific payment system and API, the general structure is as follows.

After integrating the Virtual Account API into the payment system, run a test to check if the payments are processed correctly and tracked accurately. After examining, you can implement the integration into production. You should monitor and update regularly and troubleshoot in case of any rise of issues.

How to create virtual accounts for customers, suppliers or partners?

Once you have chosen the apt API provider, here are the steps to create virtual accounts for customers, suppliers or partners.

You can also customise the virtual accounts’ settings by changing the payment processing rules, payment thresholds, and other parameters.

Assigning payments to virtual accounts:

Payment collection has never been this simple! Assigning payments to virtual accounts includes the following general steps.

Assigning the payment to the correct virtual accounts is crucial to eradicating errors or discrepancies in payment tracking and reconciliation. Virtual Account API makes this process easier by providing a secure, automated payment collection and tracking solution for businesses to manage multiple payments across varied channels and platforms efficiently.

Tracking payment activity:

You can track your payments seamlessly with Virtual Account API. Its powerful tools can simplify the process of managing payment workflows across multiple channels and platforms and enhance transaction accuracy, efficiency, and security, elevating the payment experience for customers, suppliers and partners. Virtual Account API helps payment tracking by,

Best practices for using Virtual Account API:

Here are some best practices for businesses to manage their payment workflow using Virtual Account API.

Apart from these practices, integrating the Virtual Payment API into other accounting software helps automate the payment and lowers the risk of errors and delays. Also, businesses should review and optimise workflows for better working and enhancement.

Why should you opt for NTT DATA Payment Services?

NTT DATA’s virtual payments have entirely removed the physical reliance on traditional paper-based methods such as faxing in hotels, elevating the travel industry and thus paving the way to virtual communications. NTT DATA Payments Service ensure a secure and safe digital payment future with its powered payment solution. With its real-time reporting tools, you can track, manage and monitor the payments you receive and process on a real-time basis and generate reports seamlessly.

Its simple, easy and quick integrations come with a comprehensive guide and expert support to accept all sorts of payments. NTT DATA’s customised payment solutions profits businesses, from broking and crypto to healthcare, government and hospitality. Being Asia’s No.1 digital payment service provider, it elevates customers’ payment acceptance experience efficiently.


With as many benefits as easy payment methods and reconciliation, automated cash collections and wallet facilities, Virtual Account API ensures time and cost reduction in the manual collection and tracking of payments and helps manage your money and accounts for better security like a pro.

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