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Virtual accounts can receive payments from any source. This guide explains how payments work and how to track incoming payments.

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How Payments Work

When a payment is sent to a virtual account:
  1. The payer uses the account details (account number, bank name, routing numbers)
  2. The payment is processed through the banking network
  3. Funds are automatically credited to your business wallet
  4. You receive a notification of the payment

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Account Details for Payers

Share these account details with payers:
  • Account Number - The bank account number
  • Account Name - Name on the account
  • Bank Name - Name of the bank
  • Routing Numbers - For ACH, RTP, or Wire transfers (USD accounts)
  • SWIFT Code - For international transfers

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Payment Methods

Payments can be sent using various methods:

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Domestic Transfers

  • Bank Transfer - Standard bank-to-bank transfer
  • ACH Transfer - Automated Clearing House (USD)
  • RTP Transfer - Real-Time Payments (USD)

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International Transfers

  • Wire Transfer - International wire transfer using SWIFT code
  • International ACH - Cross-border ACH transfers

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Payment Processing

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Payment Flow

  1. Payer initiates transfer using account details
  2. Payment is processed by the banking network
  3. Funds arrive in the virtual account
  4. Funds are automatically credited to your business wallet
  5. Transaction appears in your transaction history

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Processing Times

  • RTP - Real-time (instant)
  • ACH - 1-3 business days
  • Wire - Same day or next business day
  • Bank Transfer - Varies by country and method

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Tracking Payments

Monitor incoming payments through the Transactions API: 
curl -X GET https://api.platnova.com/v1/transactions \
  -H "X-API-KEY: YOUR_API_KEY" \
  -G \
  -d "type=deposit" \
  -d "virtual_account_id=va_123"

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Payment Notifications

Set up webhooks to receive real-time notifications when payments are received: 
{
  "event": "payment.received",
  "data": {
    "transaction_id": "txn_123",
    "virtual_account_id": "va_456",
    "amount": "1000.00",
    "currency": "USD",
    "payer_name": "Jane Smith",
    "reference": "PAY123456",
    "timestamp": "2025-01-30T10:00:00Z"
  }
}

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Payment Limits

Payment limits may apply depending on:
  • Account type
  • Currency
  • Payer’s bank
  • Regulatory requirements

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Best Practices

  • Share account details securely with payers
  • Include payment references for tracking
  • Monitor transactions regularly
  • Set up webhooks for real-time notifications
  • Keep account information up to date

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Next Steps