There is no permanent need of interacting with bank accounts of customers or necessitating them to visit the store directly — sometimes it’s preferably to return their order values to their credit accounts. Thus, the chance of them returning to the store and buying new stuff is increased. This article provides the general overview of four of the latest Magento extensions focused on credit systems.
Table of contents
This extension stands out for simplifying work not only with the store credit system but also with exchanges and returns, helping to keep customer’s loyalty to the store if the customer is willing to make a refund. Customer’s funds can be deposited to his account instead of being returned and he can use them for new purchases in future.
This is a very useful feature providing a win-win situation where the customer saves different payments required for transactions and having the opportunity to use his funds for new purchases; and the store keeping its satisfied customer, saving transaction-needed time as well as time of its workers.
Another customer’s feature of this extension includes comparing product models with the displaying of price differences.
Tracking of all the transactions and customer’s credit balance status is included, and customers are notified by email when their balance changes.
Administrator can view the user’s card balance and all the transactions as well as adding transactions for the user. Also, credit applying is available during order creation.
Store Credit & Refund is available for $149.
Loyalty Booster allows buyers to purchase goods or pay for any services by using only funds of their internal credit account.
This extension is stuffed with lots of special features including:
- Automatic refill of Credit Balance.
- Setting rules of adding reward points as well as sharing or selling them.
- Setting an exchange rate for the store credits and viewing the detailed reports on everything done.
And basic ones:
- Adding/deducting credit funds.
- Checking credit balance activity and actual customer balance.
Also, custom groups of buyers can be created with the allowance of reward points usage as well as groups of your staff with manageable roles and permissions to deal with store funds.
Details of customer’s credits can be imported and exported in a .csv file. Credits can be returned to customer instead of refunds and credits data can be updated via Magento SOAP API.
The process of adding store credits can be automated, based on certain conditions and actions of customer like purchasing an amount more than specified, purchasing specific products, writing a product review etc.
Also there is an availability of recharging codes designed to easily refill loyalty credits which really simplifies the process of granting gifts or mapping debit cards. These codes can be easily imported and exported.
The reward points can be shared by customers with their friends if they wish to. This social feature helps to bring more customers to the store and increase its royalty rate.
Also, the credits can be expired whenever you set them to and there is this special feature available only for Magento EE allowing you to synchronize internal credits and store balances.
Loyalty Booster is available for $149.
Store Credit | Flexible store credit use (by Magestore):
With the help of this extension customers can buy the credit themselves. One store credit purchase followed by many future store product purchases appears to be a useful and a time-saving method of payment.
Different types of credits are available to choose from. Fixed, optional credits and custom range price are among them.
Any store product can be purchased by a customer after he got the credit. Also the credit can be shared with customers’ friends and these friends don’t need the account at the store.
Detailed credit reports are available, shown in user-friendly tables and charts.
The extension supports multiple stores, is open-sourced, easily installed and configured. The License Certificate for one live Magento installation and any number of test Magento installations is provided.
Store Credit | Flexible store credit use is available for $99.
This mighty tool for sales allows customers to operate their credit balance related to the store. The balance sharing function is included, intending to draw more potential buyers’ attention and enhancing the sales.
The amount of credit can be set manually as well as chosen from predefined options.
Credit balance can also be shared with friends — just the person’s email and the credit amount are needed. The customer will be informed at once and be able to spend the obtained founds in the store. There is even no need for the recipient’s registration — the credit balance can be easily shared with the unregistered person who will be authorized just by using the conforming email address.
Balance changes can be easily tracked right on the account page, and the customer can always move to the Store Credit tab for a subscription to regular balance update notifications.
With the Store Credit extension store administrators obtain several significant options taking their services to the latter-day level of quality and seriously improving customer experience:
- Making quick refund orders just with a few clicks.
- Creating various pricing models for every separate store credit product: fixed amounts, buyers’ custom amounts or both.
- Adding or subtracting individual customers’ credit balance funds.
- Updating plenty credit balances simultaneously with one action.
- Tracking every credit transaction in the store with the detailed Credit Transactions History Grid, related to each customer.
Store Credit is available for $129.
With all their differences taken into account, any of these extensions appears to be quite useful, allowing to engage more customers by providing the good choice of easy-to-use and convenient credit system solutions.'