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If your platform collects payments from many distinct end customers — rent, subscriptions, cooperative/thrift contributions, marketplace order payments — Business Collections lets you issue each customer their own one-time virtual bank account and get paid without manually reconciling incoming transfers. Obiex matches the payer’s name to the customer you registered and settles automatically to USDT (or USDC, if you choose to).
Business Collections is access-gated and not enabled by default. Reach out to our marketing team via [email protected] and explain your use case to get it enabled on your business account. See Business Collections for details.
This is different from On-ramping, which is about crediting deposits to your own platform balance. Business Collections is specifically for collecting payments from your customers, on your behalf, with identity verification built in.

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How it works

1

Register the customer

Call the Initiate Collection endpoint with the customer’s first name, last name, BVN, and NIN, along with the amount and sourceCurrency to collect. Optionally include targetCurrency (USDT or USDC) to choose what the collection settles into — it defaults to USDT if you leave it out. If you’ve collected from this BVN/NIN pair before, Obiex reuses the existing customer record instead of creating a new one.
2

Share the virtual account

Obiex returns a one-time virtual bank account (bank name, account name, account number) valid for 30 minutes. Display these details to the customer so they can pay from their own bank account.
3

Let Obiex match and settle

When the payment lands, Obiex compares the payer’s bank account name to the customer’s registered name. A match settles automatically — the fiat is converted into whichever targetCurrency you requested (USDT or USDC) and credited to your wallet. A mismatch is held for your review instead of being lost or silently settled.
4

Track status via webhook or API

You’ll receive a COLLECTION webhook as the transaction progresses. You can also poll /collections/transactions/me or /collections/destinations/me to check on any collection.
Instruct customers to pay from a bank account registered in their own name. Payments from a third party’s account (e.g. a spouse’s or employer’s) will be held for manual review rather than settled automatically, since the payer’s name won’t match.
Virtual accounts expire 30 minutes after creation. If a customer doesn’t pay in time, initiate a new collection to get a fresh account.
Only NGNX (Nigerian Naira) collections are supported today. Funds settle to USDT by default, or USDC if you set targetCurrency: "USDC" when initiating the collection.

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Common scenarios

  • Rent or subscription collection: Issue each tenant or subscriber a virtual account for their monthly amount due, and get notified automatically when they pay — no manual bank statement reconciliation.
  • Marketplace order payments: Collect payment for an order directly from the buyer into a dedicated account, then release the order once the COLLECTION webhook confirms settlement.
  • Cooperative or thrift contributions: Track recurring contributions from many members, each identified by their own BVN/NIN, without co-mingling who paid what.

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Key endpoints