1.5 Virtual Accounts Management

As part of this release, Virtual Accounts Management OBAPI has been enhanced with APIs that supports the following features:

Amount & Balance restrictions on Virtual Accounts:

• Amount Restrictions:
  • In addition to the existing restrictions on the number of transactions that can be performed on a Virtual Account for a period, now the user will also have an option to restrict the cumulative value of transactions that can be performed for a period.
  • Three new fields (Allowed amount, utilized amount and Available Amount) have been added in the existing API for the same. This feature is available in both view and update Virtual Accounts restrictions.
• Balance Restriction:
  • Existing API has been enhanced to view and edit the maximum balance that can be held for a specific Virtual Account. This option is available under “View Virtual Accounts”.

Virtual Account Expiry Date:

This feature allows the users to define an expiry date during Virtual Account Creation. Additionally, API will also support to view the Expiry details, edit, and close Expired Virtual accounts.

Name Change Restrictions:

• Currently during Virtual account creation, Virtual account name is defaulted to the Virtual Entity Name and is editable at an account level. With this change in API, based on the product selection user will be restricted from updating the Virtual Account name if the same is not permitted at the product level. User will be able to modify the Virtual Account name only if it is allowed at a product level.
• The above change will be applicable in Create Virtual account (with or without templates) API, Edit Virtual Accounts API & Create and modify Virtual account API using File uploads.