THE BASICS

CRM.COM Wallet

A Wallet is a real-time eWallet, which maintains a balance that can fund various Business-related and external transactions.

As mentioned previously, a contact's Wallet is created upon their very first registration to a Business. Thereafter, if they happen to register with any other Businesses, they will (optionally) be able to link their new registration to their existing CRM.COM Wallet by simply identifying themselves using either their email/phone and a verification OTP. As a result, a contact can have multiple wallet balances; one pair of balances (Open & Commerce) per Business to which they have signed-up to, as well as the CRM.COM Open balance, which is their own money.

A Business maintains full control and flexibility of its balance, choosing the funding method and whether contacts can spend their balance at other affiliated Businesses.

Open Balance

The Open balance represents the contact's own money and is managed at their discretion (i.e. it is not subject to any spending conditions). It can be credited through a process such as a top-up, redeeming a pass, transfer of funds from an account or another contact, or a back-end spend releasing money to the Open balance.

The Open balance can be used without restrictions, including paying for purchases, recurring subscription invoices, settling an external debit, transferring funds out to a related bank account etc.

• CRM.COM Open Balance

The CRM.COM Wallet's Open balance can only be spent at Businesses that accept the CRM.COM Wallet as a form of payment (configurable through the Business' payment methods). The CRM.COM Open balance is increased through crediting financial transactions that use the CRM.COM payment gateway, such as top-ups (auto, termed, ad hoc), back-end spends (where the full purchase amount is paid at the POS and the open balance is credited with the purchase reduction), and Commerce money released into the Open balance.

Commerce Balance

Commerce balance funds may be subject to one or more conditions for spending, i.e. can only be spent at specific locations, on specific days/times, on specific products, by a set date. These conditions are set when defining the reward offers, creating the top-up transaction, or defining the pass plans. The Wallet Commerce breakdown (showing amounts with relevant conditions for spending) is available both via the back-end system and also via the consumer app and portal.

Wallet Commerce funds can be accumulated either through reward offers (e.g. when registering or purchasing from a Business), through a financial top-up action, or by redeeming a pass.

A Wallet can have multiple Business Commerce balances, one per Business the contact has signed up to. This balance can only be spent at the Business that awarded the contact, either to pay for a purchase or to be consumed by recurring billing charges.

Redeem is the process whereby the contents of a purchase in hand are compared against all of the contact's commerce wallet pool conditions. If the purchase satisfies any commerce pool conditions (validity period, purchased items, location and date/time are examined), then those funds are debited from the Commerce Wallet balance and credited to the contact's Open Wallet balance. Funds in the Open wallet balance can be spent on a purchase, or paid out (payout) to the contact (subject to system settings).

Awards provided from instantly redeemable offers will be automatically redeemed and can be spent on the purchase at hand.

Payout

Payout applies only to automatically redeemable reward offers. This is the process whereby any Wallet Commerce funds redeemed to the Wallet Open balance are paid out to the contact using the contact's preferred payment method or to a specific payment gateway (provided that it supports payouts). Refer to the Financials manual for further information on such financial actions.

The Wallet identity is the method by which a contact's Wallet is uniquely identified using one of two registration methods - phone or email. The identification method is set by the form of registration selected by the Business and verified using an OTP.

Even though the Wallet can support multiple currencies, and the contact can perform financial transactions in any of the Businesses supported currencies, it also has a base currency which acts as a primary currency. The base currency is set upon the contact's very first Business registration and automatically assumes the Business' base currency by default.

When a contact registers with another Business which has a different base currency to the existing base currency of the Wallet, then that currency will also be added to the Wallet. For example, if the Wallets base currency is in Euros and a contact registers with another Business with a base currency of Canadian Dollars, the new Canadian Dollars currency is automatically added as a Wallet currency.

The CRM.COM Wallet has its own payment methods (i.e. funding sources), which can be used to retrieve funds from a payment gateway service whenever the CRM.COM Wallet is used as a payment method itself, e.g. to pay for a purchase. Automatic and termed top-up rules can be set up for Wallets to ensure that there are sufficient funds at any given time.

In cases where the CRM.COM Wallet is used as a payment method to fund a purchase from a Business, the Business can't see the details of the Wallet's payment method (e.g. card details).

Payment methods of type card can be registered (tokenised) using various payment gateway services by front-end systems. However, a payment method is added as the Wallet's payment method only when it has been registered through the CRM.COM Payment Gateway (CRM.COM merchant account). Otherwise, if the payment method is registered by a payment gateway for which the Business doesn't have a merchant account, then the payment method is only linked to the contact and not the Wallet.

Any financial transaction performed against the Wallet results in a credit or debit journal entry, adding or removing funds from the Wallet respectively. These journal entries are automatically created and include the currency in which the transaction was performed. Whenever a transaction occurs using different currencies (e.g. transferring funds between wallets of different currencies), the exchange rate used when the action was performed is also recorded. See Financial Events for further information.

When a Wallet's Commerce balance is credited with an amount of money, there may be accompanying conditions on how the amount can be consumed (spent when purchasing). These conditions are dictated by the event which generated the credit wallet action, i.e.

• Reward offer

• Transfer of funds

• Top-up

• Redeeming a pass

Refer to Commerce Pools for information on how to configure spending restrictions for Wallet funds.

Managing Wallets

Image Removed

A back-end system user can perform several Wallet-related actions for a contact. Some of these actions are found under the Financial Actions option, and some are located under the Wallet Actions options. Both are covered here below.

Access Financial Actions by clicking on options (…) under your logged-in user name in the top right-hand corner of the screen. There are three options here which can affect the Wallet balance - Journal Entry, Top-up Money and Transfer Money.

Image Removed

Journal Entry

Create a manual journal entry to debit or credit a contact's Wallet. If the journal entry is performed against a Wallet and no Commerce pool conditions are specified, then the Wallet Open balance is affected. Alternatively, the Commerce balance with the accompanying conditions is credited or debited accordingly.

Top-up Money

Topping up the contact's Wallet involves crediting the Wallet using another payment source (e.g. card or cash).

Image Removed

If no Commerce Pool Rule is set, then the Wallet Open balance will be credited. Alternatively, if a Commerce Pool Rule is selected, then the Wallet's Commerce balance is credited with the accompanying conditions for spending.

Transfer Money

Transfer a sum of money from the contact's Account/Wallet to the same contact's Account/Wallet, or another contact's Account/Wallet. If the Wallet is being used as the source of funding, then only the Open Wallet Balance amount is available for transfer.

Image Removed

If no Commerce Pool Rule is set, then the Wallet Open balance will be credited. Alternatively, if a Commerce Pool Rule is selected, then the Wallet's Commerce balance is credited with the accompanying conditions for spending.

Statement

The Statement option displays all account transactions (if any) as well as Wallet transactions affecting the Open and Commerce balances which have been performed during the selected period, along with opening and closing balances.

Image Removed

As the name denotes, Wallet actions will directly impact the contact's Wallet. To access Wallet actions click on the options button (…) in the Financials tab area.

Image Removed

View Balance Breakdown

View the breakdown of the Wallet balance funds (Open and Commerce) with any applicable commerce pool rules for the Commerce balance.

Image Removed

Redeem Pass

In effect, redeeming a pass will credit the contact's Wallet with the value of the pass, which may or may not be subject to Commerce Pool Rules. If Commerce Pool Rules apply, then the Wallet's Commerce balance will be credited. Alternatively, the Wallet's Open balance will be credited (i.e. can be spent without restrictions).

Once a pass has been successfully redeemed and the funds are in the Wallet, the amount can be used for subsequent purchases through the Business from which the pass was issued. The Redeem Pass option is only valid for use with Gift or Top-up passes; Promotion passes can only be redeemed via a Purchase event API (e.g. through third-party integration).

Change Wallet Limits

The system allows the definition of certain restrictions involving transactions being executed against Wallets, e.g. a maximum number of transactions of a maximum value within a time period. Global wallet limit rules can be configured via Settings > Financials > Wallets > Wallet Limits.

Individual Wallet limit rules can be selected per contact, therefore restricting the Wallet transactions where necessary.

Auto top-up rules can be set to automatically top-up a contact's Wallet (using another source of payment) whenever the Wallet's Open Balance reaches the minimum threshold amount specified.

Image Removed

The minimum Wallet balance set cannot be less than the amount defined in the System Settings (Settings > Financials > Wallets > Wallet Limits).

It's also possible to schedule a recurring process whereby a contact's Wallet will be topped-up on a regular basis, irrespective of the Wallet balance. The scheduled top-up can occur daily, weekly or monthly for a fixed amount of money using the same payment method.

Image Removed

Activity Feed

Image Removed

The Activity Feed on the contact screen provides a log of all transactions (financial or not) related to the specific contact. Use the Activity feed to filter transactions based on transaction type and view Wallet-related actions.

The Financial Events screen displays a consolidated list of finance-related events generated by CRM.COM and includes Wallet events.

To view such events, navigate to Finance> Financial Events from the main menu on the left-hand side of the screen. Use the filter to narrow down your search, click on an event to see the drill down or click on the transaction number to see more information.

Image Removed

Finance Settings

Configuration of Wallet settings (subject to user permissions) is possible by navigating to the Financials Settings screen - click on your logged-in user name in the top right-hand corner of the screen > Settings > Financials > Wallets.

Auto Top-up

The Automatic Top-up setting is related to when payments are made using the CRM.COM Wallet as the payment method, but there are insufficient funds available to cover the required payment.

In cases where a payment is to be made using the CRM.COM Wallet, but there are not enough funds to complete the payment, then the CRM.COM Wallet's primary payment method is used to retrieve the required amount and complete the payment. Alternatively, if this setting is disabled, only the Wallet's available funds can be consumed.

Image Removed

Wallet limits apply restrictions on how many Wallet transactions can be performed in a period of time and/or the maximum allowed Wallet transaction amount. Wallet limits can be configured for top-up, transfer, credit and debit actions and are calculated at the Business level and in the Business' base currency.

Image Removed

Wallet fees are used to apply a fee when performing various Wallet-related transactions, e.g. charging a fee when topping up the Wallet. Wallet fees can be configured for top-up, transfer, credit and debit actions. In cases of transfers, the destination Wallet is charged the fee.

Image Removed

If a Business wishes to allow contacts to perform payments using their CRM.COM Wallet, then this setting needs to be activated via Settings > Financials > Financials > Payment Methods.

Image Removed

Refer to the Payment Methods manual for further information about configuring and using payment methods.

The Commerce Pool rules define the conditions that must be met to allow a contact to spend (i.e. pay with) the respective funds. Commerce pool rules can be applied through:

Commerce pool rules apply only to Commerce Wallet funds and can be configured via Commerce > Commerce Pools.

Image Removed

When creating a commerce pool rule, you must supply a unique name and the conditions accompanying the Wallet amount.

Image Removed

• Time Restrictions - Set the days and/or times when spending will be allowed; if none are set, then no restrictions apply

• Location Restrictions - Select the locations (merchants/venues) where spending the amount will be allowed; if none are set, then no location restrictions apply

• Products Restrictions - Select the products using brands/families/SKUs/types which must be purchased to allow spending of the amount; if none are set, then no product restrictions apply

• Validity/Expiration Restrictions - Select the date from when the amount can be spent and/or when it expires (i.e. funds are removed from the Wallet if they have not been consumed by a set date); if none are set, then no expiry restrictions apply

For cases when no conditions should apply to the Commerce wallet balance, a Commerce Pool rule could be created (e.g. No restrictions) without any restrictions defined.

Info

A CRM.COM digital wallet is created for every contact upon their first registration to a business on the CRM.COM platform. This wallet can be linked to any other businesses that the contact signs up to in the future. The CRM.COM Wallet is a multi-tenant wallet meaning that it can maintain separate balances for multiple Businesses (tenants). It supports multiple currencies and allows contacts to make payments, accumulate rewards, redeem them, top-up funds, and transfer money.

---

THE ESSENTIALS

CRM.COM Wallet

The CRM.COM Wallet is an electronic wallet that keeps track of real-time balances to facilitate business and external transactions. When a contact registers for the first time with a business, a CRM.COM Wallet is created for them. If they register with any other businesses later on, they can link their new registration to their existing CRM.COM Wallet. This can easily be done by identifying themselves using either their email or phone, along with a verification OTP. As a result, a contact can have multiple wallet balances, i.e. a set of two balances for each business they have signed up with, as well as a single balance representing their own money, which they can manage as they please.

The contact can use their CRM.COM Wallet to pay for purchases at Businesses that accept the CRM.COM Wallet as a form of payment (configurable through the Business’s acceptable payment methods). It can also be used to pay recurring subscription invoices, settle an external debit, transfer funds out to a related bank account, etc.

The CRM.COM Wallet has three pockets:

• Cash Pocket

• Two pockets for each Business

  • Business Pocket

  • Commerce Pocket

A business has complete control and flexibility over its (Business) balances and how they can be used by the contact. It can choose the funding method and determine whether contacts can spend their (Business) balance at other affiliated businesses too.

Anchor
crmcom-pocket crmcom-pocket

Cash Pocket

The Cash Pocket contains the contact's own money and is managed at their discretion (i.e. not subject to any spending conditions). Money can be added to this pocket through crediting financial transactions that use the CRM.COM Wallet gateway, such as top-ups (auto, termed, ad hoc), back-end spends (where the full purchase amount is paid at the POS and Cash Pocket is credited with the purchase reduction), and payouts.

Anchor
business-pocket business-pocket

Business Pocket

The CRM.COM Wallet can have multiple Business Pockets, one for each Business the contact has signed up to. The Business Pocket can be credited through various processes such as a top-up, redeeming a pass, transfer of funds from an account or another contact, etc., all performed using the Business’s payment gateway.

The Business Pocket balance can only be spent when purchasing from the related business. However, in cases where the business is part of a B2B network, the balance can be spent selectively at other businesses within the same network, subject to certain spending rules. These rules are configurable and determine whether the Business Pocket of one business can be used at one or more other businesses in the same B2B network.

Commerce Pocket

The CRM.COM Wallet can have multiple Commerce Pockets too, one per Business the contact has signed up to. The Commerce Pocket funds can be accumulated either through reward offers (e.g. when registering or purchasing from a Business), through a financial top-up action, or by redeeming a pass.

This balance can only be spent at the Business that awarded the contact, either to pay for a purchase or to be consumed by recurring billing charges.

Commerce Pocket funds have certain conditions for spending. These conditions can include restrictions such as only being able to spend the funds at specific locations, on specific days or times, on specific products, or by a certain date. These conditions are established when creating reward offers or defining pass plans (which generate the passes). Both the back-end system and front-end (consumer app and portal) provide a breakdown of the Commerce Pocket, showing the amounts available with their relevant spending conditions.

Anchor
redeem-to-open-balance redeem-to-open-balance

Redeeming to the Business Pocket

Redeem is the process whereby the contents of a purchase in hand are compared against all of the contact's Commerce balance conditions. If the purchase satisfies any of the commerce balance conditions (validity period, purchased items, location and date/time are examined), then those funds are debited from the Commerce balance and credited to the contact's Business Pocket balance. Business Pocket funds can be spent on a purchase, or paid out (payout) to the contact (subject to system settings).

Awards provided from instantly redeemable offers will be automatically redeemed and can be spent on the purchase at hand.

Anchor
payout payout

Payout

Payout applies only to automatically redeemable reward offers. This is the process whereby any Commerce balance funds redeemed to the Business Pocket are paid out to the contact either to their payment method of choice (provided that the related Payment Gateway service support Payouts) or to their Cash Pocket. Refer to the Financials manual for further information on such financial actions.

Anchor
wallet-identity wallet-identity

Wallet Identity

The Wallet identity is the method by which a contact's CRM.COM Wallet is uniquely identified using one of two registration methods - phone or email. The identification method is set by the form of registration selected by the Business and verified using an OTP.

Payment Methods

The CRM.COM Wallet has its own payment methods (i.e. funding sources), which can be used to automatically retrieve funds from a payment gateway service whenever the CRM.COM Wallet is used as a payment method itself, e.g. to pay for a purchase. Automatic and termed top-up rules can be set up for a CRM.COM Wallet to ensure that there are sufficient funds at any given time.

In cases where the CRM.COM Wallet is used as a payment method to fund a purchase from a Business, the Business can't see the details of the Wallet's payment method (e.g. card details).

Front-end systems may register (tokenise) payment methods of type card using various payment gateway services. Whenever a payment method is added to a contact of a Business, then that payment method is also added as the CRM.COM Wallet’s payment method as well. However, when the payment method is added using the CRM.COM Wallet Gateway (CRM.COM merchant account), then that payment method funds only the CRM.COM Wallet and not as a contact payment method.

Anchor
journal-entries journal-entries

Journal Entries

Any financial transaction performed against the CRM.COM Wallet results in a credit or debit journal entry, adding or removing funds from the CRM.COM Wallet respectively. These journal entries are automatically created and include the currency in which the transaction was performed. Whenever a transaction occurs using different currencies (e.g. transferring funds between wallets of different currencies), the exchange rate used when the action was performed is also recorded. See Financial Events for further information.

Anchor
commerce-pool-conditions commerce-pool-conditions

Commerce Pool Conditions

When a Commerce Pocket is credited with an amount of money, then there are accompanying conditions on how that amount can be spent (when purchasing). These conditions are dictated by the event which generated the credit wallet action.

Refer to Commerce Pools for information on how to configure spending restrictions for the Commerce Pocket.

---

Managing Wallets

To view a contact's CRM.COM Wallet information from the back-end system, navigate to Contacts > My Contacts >select a contact> Financials. Expand the section to see the Business Pocket and Commerce Pocket balances.

Image Added

A back-end system user can perform several Wallet-related actions for a contact. Some of these actions are found under the Financial Actions option, and some are located under the Wallet Actions options. Both are covered here below.

Anchor
financial-actions financial-actions

Financial Actions

Access Financial Actions by clicking on options (…) under your logged-in user name in the top right-hand corner of the screen. There are three options here which can affect the CRM.COM Wallet balance - Journal Entry, Top-up Money and Transfer Money.

Image Added

Journal Entry

Create a manual journal entry to debit or credit a contact's CRM.COM Wallet.

If the journal entry is created against the Wallet without specifying any Commerce Pool Rules, then the Business Pocket balance will be affected. Alternatively, if you specify Commerce Pool Rules, the Commerce Pocket will be credited or debited accordingly.

Top-up Money

Topping up the contact's CRM.COM Wallet involves crediting it using another payment source (e.g. card or cash).

Image Added

If no Commerce Pool Rule is set, then the Business Pocket will be credited. Alternatively, if a Commerce Pool Rule is selected, then the Commerce Pocket is credited with the accompanying spending conditions.

Transfer Money

Transfer a sum of money between a contact’s Account(s) and their CRM.COM Wallet, or transfer money between contacts to either their Account(s) or their CRM.COM Wallet. If the CRM.COM Wallet is being used as the source of funding, then money can be transferred only from the contact’s Business Pocket.

Image Added

If no Commerce Pool Rule is set, then the Business Pocket of the recipient will be credited. Alternatively, if a Commerce Pool Rule is selected, then the Commerce Pocket balance is credited with the accompanying conditions for spending.

Statement

The Statement option displays all account transactions, including CRM.COM Wallet transactions, for the selected period, along with opening and closing balances.

Image Added

Anchor
wallet-actions wallet-actions

Wallet Actions

As the name denotes, Wallet actions will directly impact the contact's CRM.COM Wallet. To access Wallet actions click on the options button (…) in the Financials tab area.

Image Added

View Balance Breakdown

View a breakdown of the CRM.COM Wallet balance funds with respective Commerce Pool Rules for the Commerce Pocket.

Image Added

Redeem Pass

In effect, redeeming a pass will credit the contact's CRM.COM Wallet with the value of the pass, which may or may not be subject to Commerce Pool Rules. If Commerce Pool Rules apply, then the Commerce Pocket will be credited. Alternatively, the Business Pocket balance will be credited (i.e. can be spent without restrictions).

Once a pass has been successfully redeemed and the funds are in the CRM.COM Wallet, the amount can be used for subsequent purchases through the Business from which the pass was issued. The Redeem Pass option is only valid for use with Gift or Top-up passes; Promotion passes can only be redeemed via a Purchase event API (e.g. through third-party integration).

The Pass Plan configuration determines whether the Business Pocket or the Commerce Pocket will be credited and if any commerce pool rules apply.

Change Wallet Limits

The system allows the definition of certain restrictions involving transactions being executed against Wallets, e.g. a maximum number of transactions of a maximum value within a time period. Global wallet limit rules can be configured via Settings > Financials > Wallets > Wallet Limits.

Individual Wallet limit rules can be selected per contact, therefore restricting the Wallet transactions where necessary.

Anchor
auto-top-up-rules auto-top-up-rules

Set Auto Top-up Rules

Auto top-up rules can be set to automatically top-up a contact's CRM.COM Wallet (using another payment source) whenever the Business Pocket reaches the minimum specified threshold amount.

Image Added

The minimum Wallet balance set cannot be less than the amount defined in the System Settings (Settings > Financials > Wallets > Wallet Limits).

Note
Wallet top-up, transfer, credit or debit actions may be subject to Wallet Fees resulting in a lesser amount being credited to Wallet (i.e. transaction value - Wallet Fee). Refer to Wallet Fees configuration for further information.

Anchor
termed-top-up-rules termed-top-up-rules

Set Termed Top-up Rules

It's also possible to schedule a recurring process whereby a contact's CRM.COM Wallet will be topped-up on a regular basis, irrespective of the CRM.COM Wallet balance. The scheduled top-up can occur daily, weekly or monthly for a fixed amount of money using the same payment method.

Image Added

Activity Feed

Image Added

The Activity Feed on the contact screen provides a log of all transactions (financial or not) related to the specific contact. You can filter transactions based on transaction type and view CRM.COM Wallet-related actions.

Anchor
financial-events financial-events

Financial Events

The Financial Events screen displays a consolidated list of finance-related events generated by CRM.COM and includes Wallet events.

To view such events, navigate to Finance> Financial Events from the main menu on the left-hand side of the screen. Use the filter to narrow down your search, click on an event to see the drill down or click on the transaction number to see more information.

Image Added

---

Finance Settings

Configuration of Wallet settings (subject to user permissions) is possible by navigating to the Financials Settings screen - click on your logged-in user name in the top right-hand corner of the screen > Settings > Financials > Wallets.

Auto Top-up

The Automatic Top-up setting is related to when payments are made using the CRM.COM Wallet as the payment method, but there are insufficient funds available to cover the required payment.

In cases where a payment is to be made using the CRM.COM Wallet, but there are not enough funds to complete the payment, then the CRM.COM Wallet's primary payment method is used to retrieve the required amount and complete the payment. Alternatively, if this setting is disabled, only the Wallet's available funds can be consumed.

Image Added

Anchor
wallet-limits wallet-limits

Wallet Limits

Wallet limits apply restrictions on how many Wallet transactions can be performed in a period of time and/or the maximum allowed Wallet transaction amount. Wallet limits can be configured for top-up, transfer, credit and debit actions and are calculated at the Business level and in the Business' base currency.

Image Added

Anchor
wallet-fees wallet-fees

Wallet Fees

Wallet fees are used to apply a fee when performing various Wallet-related transactions, e.g. charging a fee when topping up the Wallet. Wallet fees can be configured for top-up, transfer, credit and debit actions. In cases of transfers, the destination Wallet is charged the fee.

Image Added

Anchor
crm-wallet-payment-method crm-wallet-payment-method

CRM.COM Wallet as a Payment Method

If a Business wishes to allow contacts to perform payments using their CRM.COM Wallet, then this setting needs to be activated via Settings > Financials > Financials > Payment Methods.

Image Added

Refer to the Payment Methods manual for further information about configuring and using payment methods.

---

Reference Material

You may also find it useful to refer to the following manuals for further reading about Wallets.

Contacts

Contacts

Accounts

Financials

Business Network

Business Network

Integrations

Platform Integrations

• Ability to set up Payment Gateways at Cloud Operator level

• At Business level, all existing Payment Gateways are available for a Business to set them up using their (merchant) account

Payment Methods

Payment Methods