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Collect & Reconcile Bank Transfers With Paytm iCollect

Track Payments Track Payments
Let Paytm iCollect manage your collections while you focus on your business growth.
Generate custom Virtual Account Numbers & start collecting payments from your customers
Choose iCollect, Choose Productivity! >
Create Custom Virtual Accounts For All Your Customers With Ease
Assign unique, branded, and easy to remember VANs for your customers.
Track Payments & The Purpose For Which They Were Made
Track with customer VAN, Bank UTR, or Paytm Order ID and identify the purpose of the payments.
Track Payments
Track Payments
Track Payments
Track Payments
Automate Bank Transfers Reconciliation & Tally Like A Pro
With Paytm iCollect working as your personal accountant, just sit back and focus on growing your business.
Manage Cash Flows For Your Business With Quick Settlements
Get customer payments settled for NEFT, IMPS, or RTGS transactions in your bank account timely and seamlessly.
Manage Cash
Manage Cash
A Complete Payments Product, Engineered For Your Growth Icon

Bank Transfer Flow That Fits Your Business Requirements

Share VANs to collect one-time payments, recurring payments, and even crowdfund your campaigns/social initiatives.


Set Up Virtual Accounts to collect Recurring Payments

Create dedicated custom VANs for repeat customers who make periodic payments, and Paytm iCollect will ensure your customers never miss a payment.


Enjoy Full Activation Control

Control creation and deactivation of Virtual Accounts in real-time with 100% assurance that a transfer initiated to a disabled virtual account wouldn't get through.

A Complete Payments Product, Engineered For Your Growth Icon

Why Choose iCollect?

Robust Payments Collector For Distributors

Distributors can utilize iCollect to reconcile inbound bank transfers received from thousands of customers in a day. Transaction reconciliations are instant, ensuring retailers never run out of cash for buying inventory faster.


Hassle-Free Fee Reconciliations For Schools/Colleges

iCollect is an efficient cash management solution that simplifies receiving fee payments. With iCollect, institutions can assign easy to remember unique virtual UPI ID based on the roll number and bank name for every student (for eg., FEEID.18A2020123@ABCBank) to accept fee payments that are then automatically reconciled instantly on receipt.


Efficient Cash Management Tool For Lenders

iCollect simplify collecting loan repayments from consumers and businesses for lenders. Since bank transfers are inexpensive and allow fast movement of money, lenders receive their money the same day. Also, payments are updated automatically and do not require lenders to track each incoming payment manually.

Why Choose iCollect?

Get iCollect as your
Personal Accountant Today
One Simple Payment Plan
You pay
1% or ₹50
1% or ₹20
whichever is lower on payments you received with iCollect.GST charges extra.

Leverage The iCollect Advantage

  1. Automate Payments Via NEFT/RTGS/IMPS.
  2. Create Unlimited Virtual Accounts.
  3. Onboard Quickly & Seamlessly.
  4. Access Useful Insights With Robust Dashboard.
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Frequently Asked Questions
How can a customer make a payment to a virtual bank account or UPI ID?

The customer can make a transaction to the bank account via a simple NEFT, RTGS or IMPS transaction from their preferred internet banking portal. In case of a virtual UPI ID, the customer can add the UPI ID in their UPI PSP (Payment Service Provider) app and make a payment.

Can a customer make payment to a virtual bank account via an offline transaction?

Yes, customers can visit their bank and fill out an RTGS form, or a NEFT challan with the beneficiary details provided by Paytm and initiate a transfer from their account. Note: Customers cannot deposit cash into a virtual bank account. Only NEFT, RTGS or IMPS transactions are permitted.

What does a Paytm virtual bank account look like?

Here's an example: Account Number: SONY 1234 56RA HUL1 IFSC: PATM 123456 Name: Sony Enterprises Note: Account number is 16 characters (numeric + letter). The first four characters represent the company prefix selected by the merchant at the time of payment mode configuration to her business account.

Can I create virtual accounts in bulk?

Yes, you can create virtual accounts in bulk. This functionality is available on the business dashboard as well as API.

How to close a virtual account?

A virtual account can be closed manually, from the Dashboard or using the API. Once a virtual account is in closed state, customers cannot make payments to that account.

What happens if a customer makes an NEFT, RTGS, IMPS or UPI payment to a Closed virtual account?

Once the virtual account is closed, we will automatically refund all payments back to the source.

How will refunds be processed on virtual bank accounts ?

An instant refund will be initiated to the user on the bank account details provided at the time of transfer. Refund destination information like Bank account number, IFSC code and bank account name should automatically available in dashboard and refund APIs. There are some cases where refund to source is not possible on a virtual account. In such cases merchant needs to provide the bank details to which the refund needs be processed.Once the bank account details are provided, we will post the refund in that bank account.

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Looking For A Customized Plan For Your Business?
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Upgrade Business Collection with Paytm iCollect
When it comes to large incoming payments, it becomes essential for businesses to reconcile payments effectively while ensuring efficient payment settlements. And it requires a lot of manual efforts along with robust systems, which ultimately increases administrative costs.
Paytm iCollect makes collecting large volumes of customer payments via IMPS, NEFT, and RTGS a lot easier as well as efficient. Here merchants can generate on-demand virtual bank account numbers (VANs) using Paytm business dashboard or APIs to collect payments from customers. These VANs are linked to merchants’ bank accounts registered with Paytm. An excellent alternative to traditional methods such as checks and demand drafts, this unique platform from Paytm is a boon for B2B payments which is a better way to collect customer payments with easy reconciliation.
Automate Reconciliation For Incoming Payments
Reconciling payments is a challenging task for most businesses. Right? When you receive payments from various sources, it becomes difficult to track the transaction and the reasons for the same. Now merchants can reconcile different incoming payments as well as track the receivables through Paytm VANs. Also, this smart collect feature helps you match incoming payments to customers in real-time while eliminating manual payment reconciliation to save more cost.
Do More Than Just Accepting Payments
Do not just accept payments, when you can track, manage, and do more using Paytm iCollect. It helps you manage payments better by effectively mapping virtual accounts. Merchants can utilise it for one-time payments, categorised payments, or recurring payments as per their business needs. It gives you the power to manage your online payments seamlessly while offering customers the freedom to pay via any of their preferred modes. With Paytm iCollect, merchants can ensure every payment in real-time.
The Right Payment Mode For Any Business
With the real-time creation of virtual bank accounts, instant reconciliation, and on-demand payments, Paytm iCollect is the right fit for your business. This mode of payment is highly useful for educational institutions, hospital payments, and setups where the amount of B2B payments is usually large. It works well in different scenarios like one large payment or multiple periodic payments, making your business payments collection process fast, flexible, and simple. So, start with iCollect to accept & manage large business payments while growing your business online.
Enhanced Security Through Virtual Accounts
Paytm iCollect allows you to add an extra layer of security to your business. While a new virtual bank account is created for each customer, merchants can ensure secure and seamless payments for their business. It becomes more convenient for them to track, manage, and collect payments using virtual bank accounts. Merchants can better track customer payments with dedicated VANs, along with improved control and visibility.