Virtual accounts differ from bank transfers because payments made to virtual accounts are faster, more accessible, and easier to identify.
Since bank transfers provide limited information on the source of funds, customers have to provide proof of payment after the bank transfer is made. With virtual accounts, each customer is given a unique virtual account, which makes it much easier to confirm which customer was making the payment.
In addition, there are multiple methods for a customer to make a virtual account payment. Customers can pay through bank teller, ATM, internet banking, and mobile banking app.
By using Xendit, merchants get access to virtual accounts at the largest banks: BCA, Mandiri, BRI, BNI, and Permata, allowing you to easily collect payment regardless of which banks your end customer is using.