Virtual Account (Global account & Local account)

🌎 Global account

Global account is a multi-currency account that receives funds globally, supports over 50 key countries and regions worldwide.

⛳️ Local account

Local account is a single currency account that receives funds locally. Supporting the Payment method: Example: Local account for SGD will include the following payment method: PayNow, FAST, GIRO, MEPS

Flowchart: Virtual Account Creation

sequenceDiagram
    participant Merchant
    participant Admin

    Merchant->>Merchant: Sign-up
    Merchant->>Merchant: Start verification
    Merchant->>Admin: KYC
    Admin->>Admin: Review Process
    Admin->>Admin: Approved?
    alt Approved
        Admin->>Merchant: Approval Confirmation
        Merchant->>Merchant: Apply for Virtual Account
        Merchant->>Merchant: Select Global Account / Local Account
        alt Selected Global Account
            Merchant->>Merchant: Select Bank Location
            Merchant->>Admin: Bank Location
        else Selected Local Account
            Merchant->>Merchant: Select Currency
            Merchant->>Admin: Currency
        end
        Admin->>Admin: Route Configuration
        Admin->>Admin: Submit to Channel
        Admin->>Merchant: Issue Virtual Account
        Merchant->>Merchant: VA Created Successfully
    end

Balance

The total amount of the account that you manage

• Balance of the parent account: sum of parent account and all the sub-accounts
• Balance of the sub-account: sum of the particular sub-account

After your Virtual Account is created, you may start using POBO and COBO function

For more detail please visit → COBO & POBO

Supported Regions and Currencies

• Here are the Supported Regions and Currencies

API Doc

Create Virtual Account