Skip to content
Accounts and identifiers

How do virtual IBANs help with reconciliation?

A virtual IBAN gives an incoming payment a source before anyone looks at it. By assigning a distinct identifier to an acquiring provider, customer, store, website, entity, project or market, the payment can be associated with the correct flow on arrival. This can reduce manual matching, but it does not replace accounting controls, contracts or transaction evidence.

Last reviewed: 2026-09-09

Article facts

FieldVisible value
What it removesManual matching of incoming payments to their source
Typical splitBy acquirer, store, website, entity, project or market
Does it replace accounting controls?No
Does it guarantee correct allocation?No — a payer can use the wrong identifier
AvailabilityDetermined during onboarding
Last reviewed2026-09-09

The problem it solves

Settlement payouts from several acquiring providers, in several currencies, arriving on different cycles, look similar in a single statement. Matching them by amount and date is slow and error-prone, and it gets worse as volume grows.

Assigning one identifier per source moves the matching from after arrival to before it.

Common ways to split

Split byUseful when
Acquiring providerSeveral acquirers or PSPs pay out to the same company
Website or storeOne legal entity trades under several storefronts
Legal entityA group runs several entities through one arrangement
Project or product lineRevenue must be reported separately
MarketFlows are analysed by country or region

What it does not do

  • It does not replace accounting controls, contracts or transaction evidence.
  • It does not guarantee that a payer uses the right identifier. If the wrong one is used, the payment may be allocated to the wrong flow, held for investigation, returned or need manual reconciliation.
  • It does not change the legal ownership or treatment of funds.
  • It does not remove the need to keep a controlled mapping of identifier to purpose on your side.

Practical advice

Keep a single authoritative mapping of each identifier to its intended source, with an owner responsible for it. Verify an identifier before sharing it with a payer, and confirm with an acquiring provider that it can pay out to the identifier before changing any settlement instruction.

Frequently asked questions

Can we use one identifier per acquiring provider? This may be available depending on the approved configuration.

Does every customer get enough identifiers to split by store? The number, currencies and permitted uses are determined during onboarding.

Can we change what an identifier is used for? Identifiers can be changed or deactivated according to the applicable terms. Update your internal mapping at the same time.

Does this help with chargebacks and refunds? It helps to separate the flows. The settlement amount itself may already reflect deductions such as fees, refunds, chargebacks or reserves under your acquiring agreement.

This article is explanatory. The individual offer and applicable agreements prevail if they differ from it.

More answers