Virtual Accounts, also referred to as ‘Bank Transfer’, are temporary accounts that are used by merchants to receive payments in place of an actual/physical account.
At the point of payment, paying customers are provided with a NUBAN static or dynamic account that enables them to make a transfer from any Bank of their choice to credit the merchant account displayed. Funds are subsequently swept to the merchant’s settlement account in Fidelity Bank.
- Payments can be made easily anytime, anywhere via web, mobile app, POS, lifestyle channels and in-store shops.
- 9% transaction success rate, instant settlement, and value to both merchants and customers.
- It is available for wallet funding and cash collections through agents’ channels.
- Availability of digital dashboard and transaction notifications for easy confirmation and reconciliation by users.