This article describes the new feature of Magento 2 Wallet System.
Wallet System is a module used for online purchase transactions. It allows a user to stock their money and can use it when needed. Similarly, this new feature of Magento 2 Wallet System enables the user to make online payments from their Wallet System. Also, combats problems of long online payment procedure for users. Magento 2 Wallet System embrace many advantages such as:
- easy to use
- time saving
- more secure
- hassle free procedure for making payments
- quicker process for checkout
- cashback credit & debit rules through admin panel
- partial payments
- transaction summaries
- easy funds transfer to friends
Let’s have a look on the benefits of this awesome module.
After the successful installation of the Wallet System Module. Admin can easily configure and manage this Module.
At first admin needs to do the configuration in payment method Store>Configuration>Sales>Payment Methods>webkul Wallet System.
This enables the admin to set the minimum and maximum value that can be added to the wallet of customers. Admin can also select the various payment methods which can be used by the customer to make payments while adding cash to their wallet according to his choice.
For Wallet System configuration, the admin can follow the path Stores>Configuration>Wallet System.
Under ‘Wallet System Cash Back’ the admin can set Cash Back priority either ‘Cart Based’ or ‘Product Based’ and can also select price calculation basis. The Admin can even manage the code validation settings under ‘Transfer Amount Settings’.
This Module cover additional features like admin can add the prefix for the transactions of the wallet through ‘Prefix for Transactions’ tab. Also, the admin can also enables to send monthly transaction statements to customers on their email id through ‘Cron Job Settings’.
ADDING WALLET CASH:
Adding wallet cash enables the user to get through a purchase in mere seconds without having to enter the card details everytime. The experience of purchasing items becomes quicker and convenient.
The customer can see ‘My Wallet’ tab, total wallet balance, wallet transaction details(credit and debit details). The customer can add credit amount into their wallet system by feeding the value into the provided input box and click on ‘Add Money to Wallet’, it will be directed to checkout page where they can see wallet Amount.
The customer can even see the additional details about the wallet transactions and the credited amount in their wallet system which helps the user to track down his past transactions.
TRANSFERING AMOUNT TO FRIEND:
Another facility the users can avail is that you can transfer money from one Magento 2 Wallet Account to another Magento 2 Wallet Account.This feature free us from the hassles procedure of transfering amount.
The user needs to navigate to My Account>My Wallet>Transfer Wallet Amount. Then, select a customer from the top down menu option who will receive the wallet money and then enter the amount. User can even add a small note with this transaction for any reference. Followed by clicking the ‘Transfer Money To Customer’ button.
To validate this transaction the user needs to enter the verification code which will be sent to the customer’s email id. Further, click ‘Send Amount’ to get the money transferred successfully.
This allows customers to send money without sharing financial information.
USING WALLET SYSTEM AT CHECKOUT:
After installation, every Magento 2 customer will have a Magento 2 Wallet System Account which is fairly easy to operate. Customer can use Wallet System to make online payment. The Total payable amount will be deducted from the wallet amount and can see the remaining wallet amount after making payment.
Furthermore, with faster transactions, checkout process within store becomes much shorter. Beacause it provides a convenient and technologically quick method for customers to purchase products from the store. Magento 2 Wallet System increase the security of the transaction since the wallet typically does not need your card details for every purchase. And, if the total payable amount exceeds the available wallet balance, then the customer will have the options of making payment for the remaining amount by the payment method(s) available for that store.
Basically, customers have the flexibility to pay using their Wallet Amount
Magento 2 wallet system facilitates the admin to easily manage the wallet system. The admin can see ‘Wallet System’ tab and three of it’s sub-menus.
When admin will click on ‘Wallet System Details’, then admin can see Wallet History of their customers.
Also, the admin can Credit or Debit the amount from the selected customer account.
Furthermore, for Wallet Credit the admin can easily create multiple rules-on cart & on product. The admin can see all the details for Wallet System credit Rules in a grid.
Wallet credit rules is for the efficient management of credit Amount process into the Wallet System.
Customers can receive a refund when they are not fully satisfied with products purchased.
Wallet System for Magento 2 allows the admin to refund the customer’s amount. When the order status will be complete then admin can refund the customer’s amount through the Wallet system for Magento 2.
The admin can even refund the amount which the customer has added or credited into your Wallet. And the customer can see the refunded amount which has been credited into their Wallet System