Banking & Payments
Virtual Accounts Explained
Give every customer, invoice or order its own account number — and make reconciliation instant and error-free.
Reconciliation is the quiet tax on every collections business: money arrives in one bank account from hundreds of payers, and someone has to match each credit to the right customer or invoice. Virtual accounts solve this by giving every payer a unique account number that maps straight back to them.
How virtual accounts work
You issue a unique virtual account number (with an IFSC) for each customer, invoice or order. When a payment lands in that number via NEFT, IMPS, RTGS or UPI, you instantly know who paid — no manual matching, no guesswork from narration fields.
POST https://api.bilapi.com/v1/virtual-account-api
X-Bilapi-Api-Key: <your_api_key>
Content-Type: application/json
{
"reference_id": "CUST-1029",
"name": "Rahul Sharma"
}{
"status_code": 200,
"success": true,
"data": {
"virtual_account_number": "BILAPI0001029",
"ifsc": "HDFC0000123",
"reference_id": "CUST-1029",
"status": "ACTIVE"
}
}Who benefits most
- Lenders collecting EMIs across thousands of borrowers.
- Marketplaces settling with and collecting from many sellers.
- B2B platforms handling bulk invoice collections.
- Any business where manual reconciliation is slowing finance down.
The Virtual Account API issues a unique account + IFSC per customer so every incoming payment reconciles itself — no manual matching.