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Power eColl Virtual Account Collection

The solution enables identification of remitter information for RTGS/NEFT/IMPS payments. Inward transactions to virtual accounts (domestic and foreign transactions) will assist in segregating cash flow at a different business unit or at a product line level. Credit to customer’s account will be only for validated transactions, which will follow with MIS inclusive of the remitter details.

Features & Benefits
How it works
Fee & Charges
Value Added Service
Form

Features & Benefits

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Credit to single/multiple account

Identification of remitter

Reconciliation of voluminous transactions

Validation of transactions through offline data maintained with Axis Bank or online through Host-to-Host (API) integration with client web service

Validation of transaction at multiple level codes

Parking account feature for validation failed/timeout cases

Customised reverse feed via email/SFTP/API

MIS dispatch at customised frequency

SAP integration

Dedicated IFSC based processing

MIS will be auto triggered to the corporate which will ease out the reconciliation process and improve transaction inflow efficiency.

Opening an Account was never this easy

How it works?

01
Register with Axis Bank to avail of Power eColl – Virtual account based collection that works best for you
02
For offline validation, master data will be maintained with Axis Bank
03
Remitter will initiate transaction to virtual account & specified IFSC
04
Under offline solution, transaction will be validated with the master data maintained with Axis Bank. Under online solution, transaction details will be sent to client via API for validation.
05
Transactions validated successfully will be credited to client’s account. Failed transactions will be returned to Remitter
06
Reverse feed will be dispatched to client via Email/SFTP/API

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