Virtual Accounts

Virtual Account can be understood synchronously to any Savings Bank Account. It acts as a Finmo Account where Merchants and Customers can transact in real-time, thus transaction happens only through VAs. Each VA has a Unique ID via which it can be addressed and shared. It is built on top of the Wallet Layer and thus has a Wallet ID assigned to it. Organizations can assign a Customer Wallet ID to a Virtual Account (Customer Virtual Account). If not, then Finmo automatically assigns the Organization Wallet ID to the VA.

All Virtual Accounts

This section shows a comprehensive view of all the Virtual Accounts of the Merchant, thus bringing together the information in one place.

The tables have the following information to show:

• Virtual Account ID
• Corresponding Customer ID
• It's Country and Currency
• Its Creation Date

Create Virtual Account

This section lets Merchants create Virtual Accounts corresponding to a particular Customer ID. Merchants need to just input the Currency and Country, and the corresponding Customer ID and Payment Method Name, and they are good to go!

Virtual Accounts are created corresponding to a particular Customer ID, thus One Virtual Account is associated with One Customer ID, but One Customer ID can have multiple Virtual Accounts.