Virtual Bank Account

The IvoryPay Virtual Account API enables businesses to generate and allocate virtual bank accounts, and receive fiat via these accounts.

The virtual account services opens a world of possibilities to businesses - from a straight-forward on-ramping and off-ramping experience to a private crypto/fiat exchange when combined with the Ivorypay Swap API.

NOTE: This service is only available to businesses in Nigeria at the moment.

Virtual account types

The virtual account service offers 2 types of virtual accounts to an Ivorypay business: PERSONAL_ACCOUNT and CUSTOMER_ACCOUNT. 1. PERSONAL_ACCOUNT: A virtual account of the PERSONAL_ACCOUNT type is allocated to the business itself and each business can only have one of it. You can generate a personal virtual bank account for your business using the Ivorypay dashboard. 2. CUSTOMER_ACCOUNT: This type of virtual accounts is intended to be allocated to the customers of a business. A business can generate and allocate multiple virtual bank accounts of the CUSTOMER_ACCOUNT type.

We recognize that the customers of a business can be private individuals and/or businesses too. So we've sub-divided the CUSTOMER_ACCOUNT type into 2 sub types: PRIVATE_CUSTOMER_ACCOUNT and BUSINESS_CUSTOMER_ACCOUNT. The rest of the documentation explains how you can create these two sub-types.

Handling virtual account payments

We notify you via webhook when a payment is received into any of the virtual accounts associated with your Ivorypay business. See the Webhook page on how to setup webhooks on the dashboard.

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