Introduction : VAN

This is a system to accept payment directly from a customer into a bank account and match each payment to customer and its order and provide automatic reconciliation

How it works: 

1. Create Virtual Accounts : Every customer of the merchant will be assigned a unique Virtual Account Number (VAN) and using the VAN and designated IFSC the customer can make payments towards merchants using NEFT, IMPS, RTGS

2. Customer Places an Order: Order can be created against the customer by merchant in the JusPay system - expecting receipt of certain amount from the customer

3. Customer makes payment: The customer pays using their online banking account.

4. Validation Checks on the payment: Merchant’s bank would request JusPay to validate and collect the payment - JusPay based on VAN validity and configured rules will validate the payment. On credit of payment by merchant’s bank - the bank would notify Juspay about the credit

5. Payment Notification and Recon: JusPay would update the order and transaction details and instantly notify the merchant via webhooks on the payment status

6. Recon and reporting: JusPay will also provide recon reports daily as per analytics requirement of the merchant