Yaspa Virtual Accounts (vIBANs)

Having a virtual account linked to your payments is crucial in order to have enhanced pay-ins and all payout flows. It completes the product set by running a payment orchestration process that handles exceptions, reconciles funds and much more.

One key benefit to using a virtual account is confirmation of receipt. When a payment is received into your account, we’ll automatically reconcile the payment received against the payment instructed and send an instant pay-in received notification to you. This enables you to process payouts, safe in the knowledge that the money is already in your account.

There are two options when looking into virtual accounts. Which one you choose is your preference and we will help to consult on the best option for the merchant, please speak to your account manager and they will guide you through the process.

1. Yaspa Managed – Yaspa will manage the setup and management of the account
2. Merchant Managed – The merchant can bring their own bank/ virtual account