Volt has launched three cash management products for merchants and partners across the UK and EU, utilising its e-money licences.
The products, namely Volt Accounts, Named Accounts, and Virtual IBANs, enable merchants to manage incoming and outgoing funds from account-to-account payments with real-time visibility and reconciliation capabilities.
Volt Accounts function as payment accounts receiving all merchant pay-by-bank transactions processed through Volt's infrastructure. The accounts support EUR and GBP currencies separately, monitoring transactions from initiation to settlement with status updates throughout the payment lifecycle.
Cross-border functionality and reconciliation tools
Merchants operating across multiple jurisdictions can execute foreign exchange transactions between their EUR and GBP Volt Accounts before transferring funds to standard business accounts. This functionality supports businesses processing real-time payments in different currencies while maintaining separate revenue stream tracking.
The accounts enable merchants to initiate real-time refunds directly through the dashboard. Payins are reconciled against specific orders, allowing payment reversals without manual intervention when customers request refunds.
Named Accounts target merchants integrating Volt through payment service providers. These accounts receive payins and enable payouts without requiring PSP batch settlement processes. Marketplaces can use Named Accounts to receive and settle payments for individual stores on their platforms. Merchants can also issue Named Accounts to individual customers or sellers not registered as business entities.
Virtual IBANs serve businesses receiving high volumes of deposits or account top-ups. Merchants assign unique Virtual IBANs to individual end users within their Volt Account environment, enabling instant matching of payins to specific customers. Unlike Named Accounts, Virtual IBANs function as identifiers pointing to merchant Volt Accounts rather than storing funds independently.
Regulatory framework and market positioning
Volt operates under dual e-money licences: an Electronic Money Institution (EMI) licence in the UK and a Payment Institution licence in Poland. These authorisations enable the company to issue the three account products across its operating jurisdictions.
Volt Accounts and Virtual IBANs became available to selected merchants and partners in January 2025. The company has now extended availability to all interested businesses.
Real-time payment systems, including the UK's Faster Payments Service and the EU's SEPA Instant Credit Transfer, enable immediate fund transfers between bank accounts. Merchants using these systems require reconciliation tools to match incoming payments with customer orders and transaction records.
NOAH, a cross-border payment platform, and Cointopay.com, a cryptocurrency payment service provider, have implemented Volt's virtual account solutions for automated reconciliation of incoming payment streams.
Volt's expansion into treasury infrastructure represents diversification from its core payment initiation services.
