With UfitPay Virtual Banking services, you can open a personal or company bank account to send and receive payments to and from any bank in Nigeria, branded in your name or business name. With this service, you can also create and assign dedicated virtual bank accounts to your customers to enable you track bank transfers from each of your customers. This means you can completely automate bank payment reconciliation as well as value delivery process for your business.
UfitPay virtual bank account service is also available via Virtual Account Number API. Proudly powered by GTBank & SafeHaven MFB
Who can own a UfitPay Virtual Bank Account?
UfitPay virtual bank account service is open and available to all verified UfitPay users, vendors and merchants, both within and outside Nigeria.
What account options does UfitPay offer?
UfitPay virtual bank account service is available in five categories;
How does UfitPay Virtual Account work?
For Individuals
Create and verify your Free UfitPay wallet to get a virtual NUBAN account number in your name
Share your new virtual account number with others to receive money from any bank in Nigeria
Each amount paid into your virtual account will instantly reflect on your UfitPay balance and is available to be spent or withdrawn
For Businesses & Organizations
Create and verify your Free UfitPay Business wallet to get a virtual NUBAN business account number in your business name
Share your new business account number with your customers to receive money from any bank in Nigeria
Each amount paid into your virtual account will instantly reflect on your UfitPay balance and is available to be withdrawn to any bank account of your choice
For Virtual Corporate Accounts
Sign-up a UfitPay vendor account
Request for a Virtual Corporate bank account in your registered business name
Create a payment page to display your virtual bank account details to your customers, including a form to obtain their payment details (payment date, source account name, etc)
Integrate UfitPay Virtual Banking APIs on your payment page to lookup payments using the details provided by the payer
If payment record is found, use the transaction amount returned by the API to give value instantly to your customer
Your funds is settled to you instantly or next day depending on your vendor setup
Refer to our
API Documentaion for more information
For Wallet-based Businesses (Third-party Virtual Accounts)
Sign-up a UfitPay vendor account
Request for access to UfitPay third-party virtual banking services on your vendor profile
Integrate UfitPay Virtual Banking APIs on your platfrom to issue a bank account to each of your customers as well as receive instant payment notifications
Each time a payment is received in any of your virtual account, UfitPay will send notification to your platform with details of the payment. You will then use the destination account number to match and give value your customer
Your funds is settled to you instantly or next day depending on your profile setup
Refer to our
API Documentaion for more information
For Disposable Accounts
Sign-up a UfitPay merchant account
Request for access to UfitPay Virtual Banking services
Integrate UfitPay Disposable Virtual Account APIs on your platfrom or use or Inline Integration option.
Each time a payment is received in any of your virtual account, UfitPay will send notification to your platform with details of the payment. You will then use the transaction for the payment to match and give value your customer
Your funds is settled to you instantly or next day depending on your profile setup
Refer to our
API Documentaion for more information
UfitPay virtual bank account service is also available via Virtual Account API.
Can I issue Virtual Bank Accounts to my customer?
UfitPay offers a simple RESTful API that enable you as a third-party issue a virtual bank account to your own customers. With this service, you can assign a unique virtual account number to each of your customer and be able to provide instant value to your customers whenever a deposit is made to the virtual bank account.
UfitPay will send an instant deposit notification to your system whenever a payment is received into any of your virtual bank accounts, informing you of who made the deposit, how much was deposited, what virtual account received the deposit, etc.
Our third-party virtual account services are available to all UfitPay vendor. Details about our Virtual Account API is available Here.
How much does it cost?
A N50 flat fee applies to each fund received on an individual virtual account, while a 1% processing fee applies to every payment received through a corporate or third-party virtual account. (Thus, virtual account issued to or by a merchant). This fee is capped at N2,500, which means you will never pay more than 2,500 naira in processing fee per transaction. An additional N50 stamp duty charge may also apply to transactions above 10,000 naira.
