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Smarter Collections & Reconciliation with eCollection and iValidate

 

e-Collection & iValidate use unique Virtual IDs to identify payers and simplify digital payment reconciliation via RTGS, NEFT, IMPS,UPI, or FT providing real time MIS reports for enhanced reconciliation.

 

 

BEST FOR

Accurate Payer Tracking. Hassle-free Reconciliation

  • Unique Virtual ID for each payer

  • Automate ERP update via API

  • Incremental and Cosolidated MIS

  • Parametrized MIS over Email/H2H/API

About

How is eCollection beneficial for us?

e-Collection uses Virtual ID linked to real account numbers which helps in easier reconciliation

What types of transactions modes does e-Collection support?

It supports collections via RTGS, NEFT, IMPS, UPI, and FT, across all validated virtual identifiers.

What are Virtual Ids?

These are identifiers that are linked to real accounts and help in receiving payments to them, enabling automated tracking. These are a combination of Customer Code + Vendor Code

What is the maximum length of Virtual ID?

Virtual Ids can be maximum of 35 alpha numeric characters where Customer code can be maximum of 3, 4 or 6 alpha numeric charcters.

Is there MIS for Accpeted and rejected transcations?

Yes, consolidated transaction status report can be availed which will consist details of all the acepted and rejected transactions

Can I receive MIS at a pre defined frequency?

Yes, Parametrised MIS can be mapped at any pre defined frequency as per the customer’s requirement.

What is the difference between eCollection and iValidate?

In eCollection, incoming transactions are validated at bank’s end and Customer’s Account is credited for Validated transactions only, whereas in iValidate, client validates the incoming transaction over API

FAQs

What types of transactions modes does i-Validate support?

It supports collections via RTGS, NEFT, IMPS, UPI, and FT, across all client validated transactions.

How secure is the iValidate integration?

iValidate uses industry-standard encryption and secure APIs tailored for each client’s ERP system

What are the different types of APIs available?

In i-validate Client gets Validation API call for validating the incoming transaction and Credit confirmation API for successful credit of the validated transaction. 

What is default actions of Accept and reject?

When bank does not receive response for validation call, default action of accept/reject, as defined by the client during onboarding, is taken and accordingly transaction is processed.

Disclaimer

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