Ace business transactions with a smart virtual account

Assign unique virtual accounts or UPI IDs to customers and accept payments via all modes - experience the convenience of automated bank reconciliation.


Allot unique virtual accounts to each customer for payment collection


Accept payments via all modes of bank transfers like - IMPS/NEFT/RTGS

direct payment from current account

Reconcile payments automatically without any manual errors

How to collect and track payments seamlessly with virtual accounts

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A virtual account to boost your business transactions

Get the only virtual account built for your business - experience a smooth, fast & hassle-free banking experience with the click of a button.


Simply sign up & create an account in seconds


Complete your KYC & start transacting immediately


Reconcile automatically & get settlements done faster

Built for every business

Irrespective of the length & breadth of your operations, your business needs a virtual account today! Let us tell you why.


For Educational Institutions

Enables schools/colleges/ learning institutes to automatically reconcile payments collected via unique virtual UPI IDs assigned to each student


For Lending Companies

Allows lending companies to receive timely EMIs from consumers - no need to manually track each & every incoming payment


For Retailers & Distributors

Helps distributors easily reconcile payments received from multiple retailers, in a fast & efficient manner

Get an all-powerful virtual account for your fast-growing business


Just complete the following easy steps to get your all-in-one virtual account.

Sign up

Share your contact info & a few business details.

Complete your KYC

Complete KYC & get an online bank account with a credit card. Start transacting immediately.

Bank Limitlessly

Assign virtual accounts & quickly reconcile payments, do expense management, accounting reports, payment gateway APIs & a lot more.

Got Questions?

Here is our FAQs section to help you understand all about our current account offering

A virtual account is a non-physical/ online bank account created virtually. By adding just a few basic details like the name, mobile number, and email address of the customer, you can set up a virtual account for your clients/ customers and reconcile inward payments seamlessly.

• To track who has made the payment and when is often chaotic for businesses!

• Virtual account numbers or VANs are system-generated, unique account numbers that help streamline the process. Here’s where Open Virtual Accounts shine. By assigning a virtual account number/ UPI IDs to a customer, businesses can accept payments via various modes and auto-reconcile payments at once.

• A virtual account is a non-physical bank account, which essentially entails that businesses don’t have to visit a branch or wait in line to create an account. And all the transactions can be tracked digitally via the virtual account — reducing manual dependencies.

• All you have to do is create a virtual account. The unique virtual account number helps track the payment source and the payee (customer) right away.

• While virtual accounts have functions similar to a physical one, it offers a lot more flexibility. A virtual account is more efficient when it comes to reconciling payments from multiple customers.

• Most companies have a tough time tracking incoming payments against the order numbers while using a physical account. And given that they require high maintenance and operating cost, virtual ones are a low-maintenance and cost-effective option. And managing multiple virtual accounts and reconciling payments is far easier than tracking them manually via a physical one.

• So compared to the physical account that uses up extended bandwidth for manual tracking, virtual accounts take significantly less time to track cash flow.

• As per RBIs Payment Aggregator Regulations, businesses can accept payments via debit/ credit, net banking, or UPI. After setting up the virtual account with Open, the customer can link the existing bank account to it. And make payments through NEFT/ RTGS/ IMPS or through other modes of payments. Once the payment is processed and hits the company account, the business gets notified of the transaction right away.

• Businesses can also generate UPI QR codes and payment links for any offline transactions and share them with customers.

• Yes! Businesses can schedule recurring payments against the virtual account number assigned to customers. So there’s nothing to worry about, and you can get paid in time.

• As mentioned above, the recent RBI guidelines have a few mandates. One of which is to complete KYC to help businesses verify customer profiles. The customer can then transfer funds from the virtual account with an added layer of authentication and protection against any fraud for remote payments.

• Virtual accounts come with a lot of benefits for both businesses and customers. Creating a virtual account on Open means cutting down on using multiple portals to do banking, managing expenses, collecting and reconciling payments, and more.

• They can also track receivables against unique virtual account numbers of customers without any unnecessary back and forth. It also helps customers track every payment made against vendors/ companies from a single dashboard.

• Be it educational institutes, lending companies, B2B e-distributors, retailers, or others! Virtual cards enable businesses across sectors to track and reconcile payments promptly.

• Open’s virtual account reduces the to and fro between businesses and customers while streamlining payments. In addition, Open gives a complete overview of business spends/ transactions and makes it easy to reconcile payments through its user-friendly platform. It further makes it easier for customers to make payments using the mode of payment most suitable for them. Read all about how you can collect and track payments like a pro using Open.

• You can get a fully integrated virtual account that simplifies banking, accounting, payments, expense management in one place within a few clicks.

• Visit to log in or sign up, and create a virtual account

• Complete KYC to start collecting payments from customers

• Collect payments via multiple virtual accounts in one place

• Reconcile payments on the go and simplify settlements

• The digital payment revolution has refined business and cash management for companies across the globe. Enabling businesses’ to use Open’s virtual accounts will empower small businesses throughout the country to re-think the way they collect payments, as virtual accounts help streamline the entire process and simplify fund management. And further, empower companies to be more inclusive by relying on a single dashboard to run payments for business.

Open Financial Technologies Pvt Ltd,

Tower 2, 3rd floor, RGA Tech Park,

Sarjapur Road, Bengaluru

Karnataka - 560035

Nodal Officer - Biju Sukumaran

3rd floor, Tower 2, RGA Tech Park,

18 Sarjapur Road, Hadosiddapura,

Doddakannelli, Carmelaram,

Bengaluru – 560 035, Karnataka.

Email-Id: [email protected]

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"Open is a technology platform - it is not a bank and does not hold or claim to hold a banking license. The business current accounts, VISA corporate cards, business loans and other similar banking services/financial services offered on the Open platform are provided by RBI-licensed banks and financial institutions. All funds in the Open powered business current account are insured as per limits prescribed under the RBI’s deposit insurance scheme. The banking services/financial services offered on the Open platform are powered by our partner banks/financial institutions and follows all security standards and legal requirements prescribed by the partner bank/financial institution, in accordance with extant RBI regulations."