Nowadays ecommerce sector is growing at a fast pace due to the rise in the number of smartphone users and great internet penetration. Magento 2 Wallet system is one of the payment modes in ecommerce which is being used by most of the ecommerce businesses. It is a very known payment method among online customer. Easy to use as this payment mode allows user to make purchases from anywhere across the world.
Wallet system online payment gateway overview-
With CedCommerce’s Magento 2 Wallet extension customers can add money to their wallet and then make payment directly using wallet cash.The users can use this cash during the checkout process and the applicable amount is deducted from their wallet system. The users can easily credit the required amount to their Magento 2 wallet extension by using any debit/credit card, or bank account.It is an interesting extension for magento 2 store owners who wish to increase their sales conversion rate.
To use the Wallet Payment feature customers must have to register themselves to the store.Once registered they can see the Wallet related information in the “My Account” section of the Store. The customer can easily add money to the Wallet and can use them for purchase from the Store. it works as a digital wallet where customers store their digital cash, which has been transferred from a credit/debit card.
Features of Wallet system online payment gateway-
- Admin can enable or disable the wallet system for each and every user.
- Admin can add or deduct money from the wallet of every user.
- Wallet System is a kind of online payment method.
- Front-end users can easily credit the required amount to their wallet system and pay for the products or services from their wallet.
- Admin can also refund the amount to the users’ wallet system.
- Admin can view all the transaction details of the user’s wallet.
- If the order amount is less than the wallet balance, then the user can pay the remaining amount by using any other online payment method.
- On the checkout page, a user can view the wallet cash used and the remaining wallet cash.
- Wallet amount will get credited after the generation of invoice.
How Magento 2 Wallet System works?
Merchant end-
After the successful installation of Wallet System Admin has to setup the configuration settings to enable the features through which the front-end users can credit the required amount to their wallet. Thus, during the checkout process they can make the payment directly from their Wallet System.
Enable the Wallet System for the Front-end User-
Admin can enable or disable the wallet system for each and every front-end user, and also can add or deduct money from the wallet of every user.
At front end-
Only the registered users can use the wallet system payment method. Customer can add the amount in the wallet which can be used at the time of checkout. they can also view all the credit and debit details of their wallet amount in ‘My Wallet’ section.
Add Amount-
To add the amount in the wallet, Customers have to click on ‘Add Amount’ button and current wallet amount page appears,which displays the current amount in the wallet and the user can add more amount to the wallet as per their need.
Payment from wallet system-
Customer can make payment from their wallet cash and if the wallet does not have enough amount to make complete payment for the order then customer can choose other payment method with wallet payment to purchase the product.
Refund-
In case of refund admin will generate the “Credit Memo” . Then the amount will get credited to the wallet of the customer.
Benefits of Wallet system online payment gateway-
- Easy to use- Online payment method is done directly through the wallet system ,Customer’s do not need to use their card credentials.
- Fastest checkout- The checkout process becomes fastest because the amount is already available in wallet.
- Increase conversion rate- Faster checkout is one of the main factors of incremented conversion rate.
- Refund process becomes easy- Admin can refund amount into customer’s wallet.
- Saves time- Customers do not need to need to enter their card details every time they can rather make payment directly through wallet.
Magento 2 Wallet Extension price-
You can refer to the following link in order to know more about the description, and pricing etc.
Why choose CedCommerce Magento 2 Wallet System?
Nowadays payment methods are becoming more important in ecommerce sites and customers are expecting a seamless checkout. After considering all these things CedCommerce offers Magento 2 Wallet Extension which allows registered customer to pay for the products from wallet cash. Front end user can add money to their wallet and can use the wallet cash during the checkout process and the applicable amount gets deducted from their Wallet. The users can easily credit the required amount to their wallet system online payment gateway by using any debit card or credit card, or bank account.
You can also follow the Guide: Magento 2 Wallet System Admin Guide