Razorpay Smart Collect

Using Razorpay Smart Collect, you can generate virtual accounts on demand and accept payments via NEFT, RTGS and IMPS. Smart Collect enables you to create virtual accounts tagged to individual customers. Customers can transfer funds (via NEFT, RTGS, IMPS and more) to these virtual accounts that are directly linked to your bank accounts.

Since a new account can be created for each customer, you can easily track payments made by them. Razorpay notifies you of payment made to any of your accounts and also handles the complexity of reconciling these payments on your behalf.

Payments made using Smart Collect largely follow Razorpay’s existing payment flow. If you are new to Razorpay, we recommend understanding this before you go ahead with the rest of the document.

Use Cases#

Here are some examples of how Smart Collect can be leveraged.

One Time Payment#

If you need to accept a single, large payment from a customer, preferably via NEFT/RTGS/IMPS, you can create a virtual account using Smart Collect for them and share the generated account number and IFSC. When the customer makes the payment to this account, you get notified by Razorpay, and can then close the account.

Regular Payments#

If you need to send a customer regular invoices for payments of large volume, you can create a virtual account using Smart Collect for them and share the details. The customer can add this account as a beneficiary on their preferred banking portal and make regular payments to it whenever required. Razorpay notifies you every time a payment is made towards the account, thus simplifying the reconciliation process.

Event-Based Payments#

If you need to accept several payments from multiple sources, for a range of possible campaigns or events, you can use Smart Collect to create a virtual account for each campaign, and share details accordingly. For every payment made towards any of these accounts, Razorpay notifies you of the account used, thus eliminating the need to identify which campaign the payment was made for.


Sharing your actual account number for purposes of receiving a NEFT/RTGS/IMPS transaction has several disadvantages, most notably that of reconciliation. This is an arduous task, involving matching the bank reference IDs shared by the customers with those present in your bank statement.

However, with Smart Collect you can create a unique bank account number for each customer, and automatically tag the payments made to each account with the customer it was created for. This greatly simplifies the reconciliation process.

Using Smart Collect thus entails a reduction in administration cost, as it can be used to identify remitters automatically and not depend on the bank reference details provided in the payment reference field.

Life Cycle#

A virtual account made in this fashion will remain open, that is, they will have status active, until explicitly closed. See Statuses and API Endpoints for more details.


How can a customer make a payment to a Smart Collect Virtual Account?
The customer can make a transaction to the account via a simple NEFT/RTGS/IMPS transaction from their preferred internet banking portal.

What does a Smart Collect Virtual Account look like?
Exactly like a normal account! Here's an example:

CopyAccount Number: 11122219877893452 IFSC: RAZR0000001 Name: Merchant Billing Label

What name will be associated with a Smart Collect Virtual Account?
Your merchant billing label will be used as the name on your Virtual Account.