When should I use COBO instead of a regular collection account?
When to use Collections on Behalf Of instead of a regular collection account.
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A regular virtual account or wallet is for your own business. COBO is for when each of your customers needs their own dedicated account or wallet, with funds attributed to the right customer automatically.
Use a regular collection account when- You are receiving money that belongs to your own business.
Use COBO when- You are receiving money that belongs to your customers, and you pass it on to them.- Many customers each need their own account details to give to their own payers. - You need every payment attributed to the right customer without manual reconciliation. - Traceability matters, for example on a marketplace, a lending platform, or any business where funds are held for named users. The short version: if you only need to receive money for your own business, a regular collection account is enough. If you are receiving on behalf of many customers, COBO is the right fit. 👉 For full details, check out the Tazapay developer docs: • Collections on Behalf Of → https://developer.tazapay.com/collection-accounts/integration-guides/collections-on-behalf-of |