How to get paid and grow your business with a Zest Virtual Account

The goal of any business owner is to get more customers, sell more products and increase the number of transactions per time. However, with this comes the burden of reconciling and tracking payments, and maintaining a healthy cash flow. The traditional approach to tracking and reconciling these transactions often leads to errors and a lack of visibility into the overall financial status of the business. In this article, we will explore the benefits of a Zest virtual account and how your businesses can leverage it to grow.

Let's dive in!

A virtual account is a uniquely generated temporary or permanent account through which businesses can streamline their payment processes with ease. Each virtual account comes with a number and payments made into this account are settled into a provided registered bank account number.

Static Virtual Account

A static virtual account is a unique, temporary or permanent account number assigned to a specific customer allowing for easier tracking and reconciliation of payments. The account number and other details remain the same for all transactions associated with it.

Dynamic Virtual Account

A dynamic virtual account is a temporary account number generated for a single transaction. The account number automatically expires after the designated payment is completed or within a set timeframe.

With a Zest Virtual Account, you can grow your business through seamless and secure payments from your customers. Here are some of the benefits of collecting payments with our virtual account.

• Get started in minutes: To create a business profile on Zest is quick and very seamless. Head over to zestpayment.com to sign up, and submit the necessary compliance documents to activate your business. Upon activating your business, simply

• Flexibility for various business models: Whether you're a small, medium or large scale business, freelancer, or own an online and physical store, Zest offers you the flexibility to create a virtual account that suits your specific needs.

• Real-time visibility: Gone are the days of manually checking bank statements to track payments. With Zest, you get instant notifications whenever a payment is received through a virtual account. This real-time visibility allows you to reconcile transactions promptly and maintain accurate financial records.

• Improved customer service: With instant payment notifications, you can quickly confirm receipt of payment and address any customer inquiries about the transaction status. This fosters trust and improves the overall customer experience.

• Faster order fulfilment: Confirming payments easily allows you to expedite order processing and delivery. This benefits both you and your customers by reducing fulfilment delays.

• Automated record keeping: Zest virtual accounts automate a significant portion of the reconciliation process. Each virtual account generates a detailed transaction history, eliminating the need for manual data entry and reducing the risk of errors.

• Streamlined reporting: Reconciling complex financial data can be a time-consuming task. Zest virtual accounts provide clear and concise reports that categorize transactions by virtual account, date, and amount. This allows you to easily track payments, identify trends, and generate financial reports with ease.

• Reduced administrative burden: When your payment records are automated, you free up valuable time and resources that your team can dedicate to other aspects of your business.

• Enhanced fraud protection: Zest virtual accounts offer advanced security features that help safeguard your business from fraudulent transactions. By utilizing unique virtual account numbers for each transaction, Zest minimizes the risk of unauthorized access to your primary bank account.

• Compliance with regulations: At Zest, we are committed to maintaining compliance with relevant financial regulations. We are PCI DSS and NDPR compliant. This ensures that your business operations and sensitive customer information are well protected.
  

If you want to learn more about Zest or have further questions on how to get started with a virtual account for your business, feel free to contact us.