Frequently Asked Questions (FAQs)

Find answers to the frequently asked questions about Razorpay Smart Collect.

1. How can a customer make a payment to a Smart Collect virtual bank account or UPI ID?πŸ”—

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.

2. Can a customer make payment to a virtual bank account via an offline transaction?πŸ”—

Yes, customers can visit their bank and fill out an RTGS form, or a NEFT challan with the beneficiary details provided by Razorpay and initiate a transfer from their account.

Handy Tips
Customers cannot deposit cash into a virtual bank account. Only NEFT, RTGS or IMPS transactions are permitted.

3. What does a Smart Collect virtual bank account look like?πŸ”—

Exactly like a normal account! Here's an example:

CopyAccount Number: 11122219877893452 IFSC: RAZR0000001 Name: Acme Corporation

4. What does a Smart Collect virtual UPI ID look like?πŸ”—

Like a normal virtual payment address! Here's an example:

CopyUPI ID: rpy.payto00000gaurikumar@icici

5. What name will be associated with a Smart Collect virtual account?πŸ”—

Your merchant billing label will be used as the name on your virtual account.

6. What happens if a customer makes an NEFT, RTGS, IMPS or UPI payment to a Closed virtual account?πŸ”—

Once the virtual account is Closed, we will automatically refund all payments back to the source. Refunds are generally processed within 1 business day via the same mode used by the customer.

7. Can I pass a dynamic merchant identifier via API?πŸ”—

Currently, this feature is not available.

8. Can I create virtual accounts in bulk?πŸ”—

Yes, you can create virtual accounts in bulk. To do this, please contact our support team.

9. How to close a virtual account?πŸ”—

A virtual account can be closed in two ways:

  • Automatically, by using the close_by option at the time of virtual account creation, via Dashboard or API.
  • Manually, from the Dashboard or using the API. Once a virtual account is in closed state, customers cannot make payments to that account.

10. I have created an ICICI-based virtual account. When I try to make a bank transfer using a UPI PSP app such as Google Pay, I am getting errors. Why?πŸ”—

Currently, we do not support a bank transfer to an ICICI-based virtual account, using a UPI PSP app.

11. My customer has a PhonePe account registered with a phone number, 9999999999. I have created a virtual VPA with the same number as identifier, rpy.acmestar919999999999@icici. However, my customer is unable to make a PhonePe UPI payment to this VPA. Why?πŸ”—

Since the customer's registered phone number and the virtual UPI identifier is the same number, PhonePe considers this as a case of the payment sender and receiver being the same person. Therefore, PhonePe may not permit such transactions.

12. Why am I not able to process an RBL to RBL transfer using Smart Collect?πŸ”—

Currently, we do not support RBL to RBL Internal Fund Transfer (IFT) transactions on Smart Collect RBL Virtual Accounts.

13. Are Google Spot payments supported on Smart Collect VPAs?πŸ”—

Currently, we do not support Google Spot integration on Smart Collect VPAs.

14. Can I create Smart Collect VPAs in the test mode?πŸ”—

Currently, we support creation of Smart Collect VPAs in the live mode only.

15. Is TR field supported on Smart Collect VPAs?πŸ”—

Currently, we do not support TR field on Smart Collect VPAs.

Third Party ValidationπŸ”—

1. What is Third-Party Validation (TPV)?πŸ”—

Third-Party Validation (TPV) of bank accounts is a mandatory requirement for merchants in securities, broking and mutual funds operating in the BFSI (Banking, Financial Services and Insurance) sector.

As per Securities and Exchange Board of India (SEBI) guidelines, transactions must be made by the customers only from those bank accounts that were submitted to your business at the time of registration.

2. Does it require a ​manual verification of account details for the virtual account?πŸ”—

No. Smart Collect eliminates the need for manually verification of account details.

All you have to do is pass the customer's account details when creating the virtual account. Razorpay verifies the customer's account details on every payment made to the virtual account.

3. How do I know the allowed payers list?πŸ”—

You can fetch the allowed_payers list using Webhook or API response.

4. Is there a limit on the number of banks for TPV validation for virtual accounts?πŸ”—

Virtual accounts support TPV validation for 10 accounts.

5. What happens if a customer attempts a payment from a different account which is not in the allowed payers?πŸ”—

If a payment is made from an account that is different from what is provided in the allowed_payer attribute, the amount is instantly refunded to the customer via the same mode NEFT/RTGS/IMPS/UPI.

You can view these payments on the Transactions β†’ Refunded tab on your Dashboard. These payments have the following description: Bank Account Validation Failed.