Magento Wallet - Prepayment with cashback system

This tool not only improves the shopping experience by offering convenient payment options but also enhances checkout efficiency, thereby reducing cart abandonment and providing insights on future sales.

Offer Convenience to Your Users:

• Purchase Planning: Customers can prepurchase store credits for planned future purchases.
• Faster Checkout: With funds readily available, transactions are faster, minimizing cart abandonment.
• Sales Insights: Wallet balances provide predictions on future buying behavior.

How Does It Work?

• Fund Addition: Customers can add money to their wallets via available payment methods within the Magento store.
• Email Notifications: Keep users informed with automatic notifications for wallet balance activities such as deductions, recharges, and credits.
• Partial Payment Option: Customers can pay using a combination of wallet balance and other payment methods when the wallet balance is insufficient.

Customer Benefits:

• Speed: Quick payments lead to faster order processing.
• Transparency: Access to detailed wallet activity reports ensures trust.
• Ease of Use: Simplified process for crediting and spending wallet balances on the store.

Key Features:

• Wallet Accessibility: Merchants can toggle the visibility of the wallet link in the website header.
• Minimum Recharge Amount: Define a minimum recharge limit, or leave unrestricted.
• Control Over Payment Options: Enable or disable partial payments and negative balance options.
• Customizable Negative Balances: Set specific negative balance limits and apply these rules to individual customers or groups.
• Recharge Approval Process: Admins can define order statuses required for recharge approvals or cancellations.
• Automated Notification System: Set intervals for reminder emails to keep customers informed.