Why Virtual Account is Important in Running Online Business

Shafira
|
October 12, 2021

One of the positive impacts of technological advancement is everything can be done so easily, including in transacting funds.

Transaction activities that initially had to be done with cash can now be done cashless, for example through Virtual Account payment method. As the name implies, Virtual Account is a bank account with virtual nature. This account consists of a customer ID number systematically created by the bank. Virtual Account can be created according to the company's request to carry out a transaction.

Transactions through Virtual Account have their own advantages that make this payment method important in managing online businesses. Why is the use of Virtual Account important in online business?

Let's get to know more about Virtual Accounts.


Get to Know More about Virtual Account

 

Virtual Account (VA) is a virtual payment method that works automatically through an account generated specifically for each customer. This payment method can be used through  ATMs, internet banking, mobile banking, or financial technology (fintech) applications.

For every transaction, Virtual Account customers will get a VA account number. Furthermore, each customer will be assigned a unique and different Virtual Account.

Learn more about Virtual Account here.

Virtual Account is considered to be very helpful in managing online business payments. Explore the reasons why Virtual Account are important in online business.


Why is Virtual Account Important in Online Business?


The tightness of competition for online businesses in the digital era will certainly trigger you as an online business owner to provide the best service to consumers. Having an optimal payment method is very crucial to achieve a good image for your business.

Right now, a lot of online businesses are competing to make it easier for their consumers to pay or make transactions. Out of all payment methods, Virtual Account is set to be the right alternative for your online business. Why is that so?


1. Identification in the form of Unique Account Number


The first reason that supports the importance of the Virtual Account method for your online business is the use of a unique account number. This number is able to identify every purchase, bill, and other transaction that has been paid for by the buyer automatically. A different account number will be generated by the Virtual Account for each customer's transaction. The purpose is to make incoming transactions can be identified automatically by account number. As a result, this payment method will minimize the occurrence of human error or human negligence during the transaction process.

2. High Efficiency Rate


The use of a Virtual Account is able to help manage online business payments since the transaction system with this payment method is very efficient. All transaction processes through Virtual Accounts are carried out through gadgets by providing the same services as banks in general. 

This is beneficial for consumers who don't have time to go to the bank or ATM every time they need to make a transaction. Consumers only need to access Virtual Account online to make transactions.

3. Going Cashless


Virtual Account is able to optimize online business payment processes. As the name suggests, all payments are made virtually with a cashless/non-cash transaction system. The money received will be stored in your Virtual Account in a safe and orderly manner. 

In addition, all transaction records will be listed in your Virtual Account application. So, you can see the track record of your online business transactions practically.

4. Automatic Transaction Confirmation

Virtual Account verifies and confirms transactions automatically so you don't have to wait for payment confirmation from customers because successful transactions will be detected immediately by banks.

Consumers only need to input the Virtual Account number as the beneficiary account, then the banking system will automatically confirm the payment itself.

Are you interested in using a Virtual Account for your online business after knowing the importance of VA? OY! Virtual Account from OY! Bisnis is your best answer.


Virtual Accounts from OY! Bisnis for Your Online Business


Now, you can increase your treasury efficiency with API Virtual Account from OY! Bisnis. You can make and receive payments via Virtual Account easily through OY! Bisnis.

Receiving payments through a Virtual Account can certainly optimize the efficiency of receiving sales from your business. OY! Bisnis provides convenience in providing the best payment services for your business in carrying out transactions.

Learn how to use Virtual Account from OY! Bisnis here.

Start creating an account on the OY! Bisnis portal or contact our Business Development team at business@oyindonesia.com for more info.

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