What is a Virtual Account?
A Virtual Account (VA) is a virtual bank account number that sits in front of your real bank account. Customers transfer money to it exactly as they would any regular bank transfer — via mobile banking, internet banking, or ATM. SingaPay instantly identifies each incoming transfer, reconciles it to the correct account and transaction, and credits the funds in real time. Because every VA number is unique, you always know exactly who paid, how much, and when — even at high volumes.VA configuration options
Every VA you create is defined along two dimensions:By lifetime
By amount type
How the payment flow works
1
Create a Virtual Account
Call the SingaPay API with the bank code, VA type, amount, and optional expiry. A unique VA number is returned to display to your customer.
2
Customer makes the transfer
The customer pays via their bank app, internet banking, or ATM — exactly like a regular bank transfer. No app download or extra setup needed.
3
SingaPay confirms the payment
The moment the transfer arrives, SingaPay validates the amount (for closed-type VAs), records the transaction, and credits your account balance in real time.
4
Your system is notified
A webhook fires to your configured endpoint so you can update order status, send a receipt, or trigger fulfilment automatically.
Supported banks — comparison
* Maximum limits are configurable per merchant tier. Contact your account manager or customer service to discuss higher limits.
Always include your own internal reference ID in the
merchant_reff_no field when creating a VA. This ties every SingaPay transaction record back to your own order system, making reconciliation effortless.