New Extension from aheadWorks – Store Credit and Refund
We are used to the consideration that refunds are equal to the loss of customers, but could you imagine the situation, when refunds start new purchases? It’s really possible with the new Store Credit and Refund extension.
Refund reasons can be numerous, and customers will not necessarily put a curse on you, as soon as they ask for refunds. Often they perceive the situation impartially and are ready to continue purchasing from you, but not earlier you return them their money, of course. Here lies the biggest chance for their retention and engagement, if you are able to provide them with a store credit instead of actual money returns.
The store credit functionality allows you to transfer money to customers without delays and in the full amount. They do not need to wait for the transaction processing or pay any transactional fees. As soon as the store credit amount is enrolled to their accounts, they can instantly continue their shopping process.
The store credit here performs two main tasks: retains customers and increases their loyalty to your brand; and this practice is widely used by online and offline vendors.
The Store Credit and Refund extension by aheadWorks enables you to start Store Credit programs easily and provides you some useful features for streamlined handling of the entire procedure.
The main functionality of the Store Credit and Refund extension allows store owners to provide customers with credits, which can be spent to pay any order items, including products, shipping, taxes, etc. Along with other purposes, store credits are able to become a full-value replacement of online refunds. This functionality option lets customers get their money back and continue shopping immediately, while merchants retain clients and get new sales.
Features for Customers
Spend Credit on Products, Taxes, or Shipping Fees (or Everything You Want)
Using a credit customers are able to pay whatever they want, including taxes and shipping fees. The process is simple and requires from customers just to check the box within the Payment Information section at the checkout. If the store credit exceeds the total value of the order, customers can pay using it alone; otherwise they should specify an additional method for the remaining amount.
Detailed Store Credit Information in the Frontend
The module provides customers with a detailed history of their store credit balance in the My Account area. Customers are able to quickly check the balance or track the entire list of store credit transactions accompanied by dates, comments, and action statuses.
My Account Area
They can also subscribe to balance update notifications by email.
Gift Card / Certificate Integration
The Store Credit and Refund and Gift Card/Certificate extensions integration introduces even more opportunities to customers, as they can convert their gift cards into the store credit and keep their funds in one place or spend them easily.
Features for Merchants
The configuration functionality of the extension is powerful and simple at the same time and provides Magento admins with numerous configuration settings.
Magento admins are able to switch on the module’s functionality, define the module’s behavior during the refund process, enable the store credit and its balance in top links, if necessary, and define a CMS page link for the “Question” icon.
The module also possesses powerful email notifications functionality, which allows you to set up the notification process properly. Store admins are able to specify an email sender and balance update template, determine a landing page for email backlinks, enable automatic logging in as a result of clicking on links in the update notice, or enable automated subscriptions of customers as soon as they receive the store credit.
Store Credit Customers Grid
The “Customers” grid composed by the module presents you the list of customers, who have ever had a positive store credit balance. The grid specifies the current balance of the credit, total earned and spent amounts, as well as subscription to balance update statuses. Additionally you can change update statuses of certain customers as a mass action.
Store Credit Transactions Grid
The complete list of all store credit transactions is specified in the “Transactions” grid. Besides customers’ names and transaction dates it also displays transaction volumes, statuses, and additional information.
Possible Transaction Statuses
- Created – introduces an initial status, when a customer earns his store credit amount for the first time;
- Modified – indicates that the balance is either changed by the store admin or the customer redeemed a gift card;
- Used – reflects the balance used for an order payment;
- Refunded – indicates the balance update as a result of refunds.
Backend Balance Updates
Magento admins have several options for balance updates: individual updates for a certain customer and mass-action balance updates.
The extension adds the Store Credit tab to the Customer View page in the backed, which enables Mageto admins to update the store credit balance for a certain customer. They just need to specify the amount they want to add or subtract from the customer’s balance and provide a comment to the transaction.
Individual Store Credit Update
The second option is provided in the Transactions grid and allows admins to carry out mass-action updates of multiple credit balances and thus save time.
Mass-Action Store Credit Update
So, the Store Credit and Refund extension provides customers with rapid funding functionality and helps them purchase more. At the same time merchants receive another useful tool for the creation of new shopping incentives and customers stimulation.