Virtual Account Bank Payments: Concept, Pros & Cons

Pembayaran Bank Virtual Account: Konsep, Kelebihan & Kekurangan

Artikel diperbarui pada 5 August 2023.

In this digital era where everything is tap-driven, a virtual account bank payment method has emerged as an option. You who have never heard of it at all must be confused with it.

But, there is no need to be confused either because this is a form of innovation carried out by the banking world. Obviously this will make transactions faster and safer to do.

For more details, let’s discuss together about it, starting from the concept of the working system, types of payments, and the advantages and disadvantages of using it. Here is a more complete explanation about it.

Concept and Working System of Virtual Account Bank Payment

The concept of payment or transaction is actually a bank innovation to provide convenience for consumers. Of course, making transactions without having to have a physical bank account or credit.

Instead, consumers will get a special number that can be used for transactions. Of course, payments can be made by choosing the method provided by the relevant bank.

Obviously, when consumers choose the virtual account bank payment method. The system will generate a special number as well as the uik associated with the transaction.

The number will be used to make payment to complete the transaction. It is free to choose anything through bank transfer, mobile banking, internet banking, atm, and others.

Consumers only need to enter the number to continue the payment process. The system will identify and verify the payment. If everything is correct, the order is complete.

A notification will be sent to the user’s contacts containing the transaction details. Save it just in case there is a problem with an interested party in the process.

Some Types of Payment Bank Virtual Account

It can be said that this is a virtual bank account that can be used to pay more easily. Here are some types of payments that are commonly used by many external users.

  1. Bank transfer, settlement of related transactions can be done through transfers between banks connected to the virtual system.
  2. Mobile banking, mobile banking applications are all connected to these methods, so they can be used to settle transactions.
  3. Internet banking, completing transactions through the internet banking website can also be done, it’s just that not everyone has and is used to using it.
  4. ATM, virtual account bank payments through ATM machines can also be done, but must queue and a little inconvenient with the old system.
  5. E-wallet, a contemporary option that is widely used by people, especially young people, easy with a tap tap immediately finished like mobile banking.
  6. Payment gateway, a choice of transaction settlement through a special gateway connected to the e-commerce transaction system.

Each option has a different payment method, depending on the policy. But, on average, it is now easier for users from all walks of life.

Advantages and Disadvantages of Virtual Account Bank Payment

The concept of the work system and the types you have learned, of course, will not give any conclusions without knowing the advantages and disadvantages.

So, we will also summarize the essence of both. With the intention of giving you consideration whether it is feasible this year to use virtual account bank payments or not.

Here are the advantages and disadvantages of using a virtual system, please read carefully.

1. Advantages:

  • Ease and convenience, simply make transactions from the device without the need to go outside the house, obviously easy and convenient to do especially in this day and age.
  • Save time, consumers no longer need to queue at the payment counter or visit the bank to deposit funds, so time can be more efficiently used by you.
  • Flexibility, can certainly be used to make payments from various methods, such as bank transfers, mobile banking, internet banking, ATMs, e-wallets, and gateways.
  • Security, guaranteed to be more secure because consumers do not need to provide personal data such as credit card numbers to complete the transaction.

Of the many advantages that can be obtained if you use virtual account bank payments, it turns out that there are still disadvantages that must be considered, here is the list.

2. Disadvantages:

  • Limitation, it is true that not all sellers sell their products equipped with the system, so before buying, you must first check if there is that option.
  • Additional costs, although not all banks provide additional costs, but there are also banks that provide it. So this can be a drawback if it starts to be applied to banks that have not implemented it.
  • Dependence on the system, usage still needs a good internet connection, so a stable system is needed to make everyone able to use it smoothly.
  • Difficult to operate at the first time of use, especially for people who are still unfamiliar with technology, must be confused why there is a special number and how to make payments through it.
  • The possibility of errors can occur, but in this modern era, there should be no more errors. Because now the unique number can be directly copied and pasted on the continuation of payment.

Overall, it can be concluded that as long as the use is appropriate or the user understands the system works. Virtual account bank payments are the best choice for you to use.

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