Virtual Account and Online Collection System

Improving business & corporate collection process.

Accepting funds transfer online realtime via banking channels that available in the market (less friction)

Automatic Transaction identification and reconciliation to reduce human error and increase speed performance (reduce cost)

Improve Customer’s Delivery Performance (increase revenue)

  • Improving business & corporate collection process.
  • Integration to core banking, connecting to “on us” banking channels such as tellers and other e-channels, “off us” banking channels via interbank switching such as ATM Bersama, Prima, Alto, MEPS.
  • Managing Bank Identification Number (BIN) & beneficiary accounts.
  • Fee Management for fee-based revenue and fee sharing model.
  • Customer portal for invoice management, upload/download, partial or full payment, account receivables & credit notes, reconciliation, payment reports.
  • Application Programming Interface (API) for billing information and real-time payment reports to customer’s ERP.
  • Fund acceptance restriction, for example accepting funds for only certain amounts, less than or greater than specified amount. (Open/ close billing)
  • Reversal & error correction management.
  • Generating dynamic or static VA for recurring payments or one-time payments.
  • Module can be integrated to cash management system
  • Payment process can be integrated to payment gateway for e-commerce payment.
  • Corporate white label invoice system.
  • Suitable for several industries: education & services, financial services, airline & travel, e-commerce & retail, memberships, etc.

Business Flow

Case of Managing 16 digits Virtual Accounts

How to organize 16 digits VA:

1 – 5 : managed by Bank by core banking, represents VA account type and partners/institutions, also mapped to beneficiary account.

6 – 16 : managed by partners/institutions by Virtual Account Portal, to identify customer numbers, invoice numbers, member numbers, account numbers etc.


70010  8161899241

7 represents account type of VA

0010 represents an institution and a specific beneficiary.

8161899241 represents a member number of an institution.

Using ATM off us, basic information will be presented as:

Account Name     : Deddy (Kls 3 SD)

Account Number  : 7850000124123412

By using ATM on us, some additional information can be presented as:

Institution Name    : SGO

Reference Number  : BIIVA-700844-6ECF5FA

Amount of bill        : Rp. 200.000,00 (fixed can not be changed)

SGO Virtual Account Portal has advanced features to help the institution manage their bills to customer. Some of the features are:

Open amount

Amount can by paid any amount such as installment, system will not reject any amount.

Closed amount

Amount must be entered exactly as billed (in on us ATM, amount can not be altered), otherwise system will reject the transaction.


When upload invoice system also can generate invoice notification to SMS or email while the institution includes email or handphone number.

Auto archive

While housekeeping is performed, system can do auto archive and create new begining of balance for every debit or credit note those remain opened.

Credit Note and Debit Note

Keep track all the payment to the Virtual Account. Every VA generated will be has a “mini ledger” that shown debit-credit and remaining balance due.

Auto Reconsiliation

Every payment will be reconsiled to the uploaded invoice. All invoice that already paid can be automatically set to closed (can not be paid anymore, to avoid double payments).

And many more such as reporting, invoice engine, etc.

Online Collection

Online Colection module is the extended module of Virtual account that handle manual hard-cash collection by collector agents. Collector agents are the person who assigned by institution to physically collect the funds. With online collection module system can help the institution to:

Track the invoice collection by geographical location.

Non-dispute transaction between customer collectors = institutions.

Collector’s AR status monitoring to keep track how much cash-in-hand by the collector, and how much already deposited.

Bill Payment

Collection status monitoring to keep track the collector already perform the collection or not.

Manual payment via collectors:

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