API ReferenceIntegrationsKnowledge Base

How Smart Collect Works

Give below are the steps on how to create a virtual account:

  1. Sign up for a Razorpay account.
  2. Create virtual bank accounts or virtual UPI IDs tagged to the customer.
  3. Share account details (such as account number, IFSC and Name) or UPI ID with the customer.
  4. The customer adds:
    • The bank account as a beneficiary on their preferred netbanking portal and transfers the money using NEFT, RTGS or IMPS
    • The UPI ID on their UPI payment service provider app, such as Google Pay and transfers the money using UPI.
  5. Payment deposited in these virtual accounts or UPI ID is settled into your bank account linked with Razorpay.

Payment Confirmation
You can consider a payment to be successful only when you receive the notification from Razorpay. You can check the payment status on the Razorpay Dashboard. Also, you can choose to configure webhooks and subscribe to the virtual_account.credited event to receive notifications when customers make payments.

Virtual Account Format🔗

Using Smart Collect, you can create a unique virtual bank account number and UPI IDs to be shared with your customers. The structure and components of these are explained below.

Virtual Bank Account Number🔗

The virtual bank account number consists of 16 digits.

CopyBank Account Number: 1112220040042526

Virtual UPI ID🔗

A UPI ID comprises of the following:

  • Username
    The username comprises of the prefix, the merchant identifier and the descriptor. For example,rpy.payto00000gaurikumar@icici consists of:
    • Prefix
      Static information. Value is rpy.
    • Merchant Prefix
      payto00000 is the standard merchant prefix. You can opt for a custom, 4-10 character merchant prefix as per your brand requirements. For example, acmevendor. Contact Razorpay Support to get this configured for your Razorpay account.
    • Descriptor
      10-16 character unique identifier of your customer provided by you. For example, gaurikumar.
  • Handle
    The name of the partner bank. For example, @icici.

Merchant Identifier + Descriptor
The combination of merchant identifier and custom descriptor must be exactly 20 characters. Special characters are not allowed in merchant identifier or descriptor.

Handy Tips
Razorpay will auto-generate the descriptor if it is not provided at the time of virtual account creation.

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