AutoCollect

Cash Management
Service 2.0

Match inbound payments to customers automatically
using virtual bank accounts

GET STARTED

Collect bank transfers at scale

Customise Virtual
Bank Accounts

Opt for fully numeric accounts or get branded virtual accounts. Easy to share and remember.

e collect via any
UPI app

Unleash the power of UPI payments to make collections fast and simple. Customer can open their UPI app, enter the virtual bank account or UPI ID and pay.

All banks all
payment modes

AutoCollect supports IMPS, RTGS, NEFT, UPI and cheques across all banks.

How virtual accounts
work

Merchant

01. Create virtual account

Create a unique mapping of virtual bank account or Virtual UPI ID assigned to every payer/user. REST APIs available to create accounts automatically, in real-time.

Customer

02. Notify user

Share the virtual account for payment for every user via email/SMS/WhatsApp or notify through your App.

Customer

03. User pays

Payer pays to the assigned virtual account using any UPI App like Google Pay, BHIM, Paytm, Whatsapp OR through their online net banking account.

Merchant

04. Reconciliation notification

Once the payment is received -- immediately, or within 2 hours for NEFT transfers -- you are instantly notified about the transaction and payment details via a webhook. The user's payment is thus acknowledged.

Use Case

Loan repayments

Lenders use AutoCollect to collect repayments for short term loans from consumers and businesses. Bank transfers are preferred since it is the least expensive and fastest way to move money. The lender receives the money within the same day. Instead of reconciling bank statements manually to track each incoming payment from a user, a payment is updated automatically.

Bill and fee payments

Schools and educational institutes use AutoCollect to receive fee payments. Every student is assigned a unique virtual UPI ID based on the roll no. For ex - cashid.rollnumber@icicibank Payments into a virtual UPI ID are reconciled instantly on receipt. Similarly bill payments for phone, internet and DTH are be collected by creating virtual UPI IDs based on phone numbers. For ex - cashid.phonenumber@icicibank AutoCollect enables payment collection without the user having to visit the billers app or website to make a payment.

B2B retailer distributor payments

E Distributors use Auto Collect to reconcile inbound bank transfers received from 20,000 plus retailers. Since transactions are reconciled instantly, retailers are able to purchase inventory faster and free up working capital.

Power up your cash
management service

Multiple Settlement
Accounts

Every virtual account can be mapped to it's own settlement account. Helps manage your cash better.

Activation Control

Create Virtual Bank Accounts in real time. Deactivate a virtual account any time you wish. Transfers initiated to a disabled virtual account get rejected.

Faster Settlements

Receive money in less than 3 hours* into your bank account.

Customise Notifications

Choose different set of email addresses and phone numbers for every new virtual account

Are you a developer?

Checkout the API documentation