#FeatureFriday! Payments with virtual accounts in Argentina

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This week, we have launched the new Virtual Accounts feature to complement our payment methods stack for Argentina. This solution is designed following the payment trends in the region and to help businesses offer new payment methods while reducing fraud in the process.

One of the main features of Virtual Accounts is that it creates an account for each user, which means that payments can be made quickly and securely without worrying about errors in fund transfers.

Some of the advantages of Virtual Account are:

  • Any user can make a payment from any bank account.
  • Payments are immediate.
  • Using a unique Virtual Uniform Key (CVU, in Spanish) for each user, the risk of fraud is minimized.
  • Eliminates the need for payment references (such as the ones required generally in regular bank transfers) by solely using the CVU.

In summary, Inswitch's Virtual Accounts is an innovative solution that offers numerous advantages to all companies that allows users to fund their digital wallets. For instance, in platforms such as cryptocurrencies, it offers new ways to pay in an e-commerce platform, and many more.

If you want to implement Virtual Accounts in your company, please contact our team and we will know how we can help you.

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