...
| Excerpt | ||
|---|---|---|
| ||
Learn to work with Wallets. |
| Panel | ||||
|---|---|---|---|---|
| ||||
On this page
|
Overview
A wallet is a financial account which allows customers to use a credit balance to fund transactions within CRM.COM.
Major features
- It works as a mini-ledger that can easily be topped up by various payment methods such as credit card and voucher payments or by awards earned through reward program participation, and spent either on prepaid subscriptions or redemption of awards.
- Wallets are managed through wallet-specific processes which can create, update or cancel wallets manually or automatically.
- Wallet transactions are used to credit debit and refund wallets and can either be created manually or triggered via other processes
- Money can be transferred between wallets of different owners.
- Wallet are always related to accounts receivable where wallet money can flow from and to. It's through the accounts receivable that the wallet is related to various other entities in the system such as subscriptions and rewards. It is up to you whether the balance in the account and the wallet of the customer should agree
Setting Up Wallets
| Info | ||
|---|---|---|
| ||
Configuration > Finance Application > Wallets |
Wallet Transaction Types
A Wallet Transaction Type is used to define the nature of each wallet transaction which is based on the classification of the type. There are five predefined system transaction classifications:
- Wallet Credit: A transaction that funds the wallet.
- Wallet Debit: A transaction that deducts funds from the wallet.
- Wallet Reimburse: A transaction that deducts funds from the wallet and credit the wallet's owner Accounts Receivable.
- Wallet Void: A transaction that cancels or reverses any type of wallet transaction (credit, debit, reimburse) by voiding it.
- Wallet Transfer: A transaction which is used to transfer money from one wallet to another. The Wallet Transfer Transaction refers to two Wallets, the (debit) Wallet from which money is transferred and the (credit) Wallet to which money is transferred.
Multiple wallet transaction types can be created for every classification. However one of them (for every classification) must be set as default. Use the Set as Deafult action available from the Data entry page Actions Menu to set the type as default and remove any other type of the same classification from being the default one.
Once transaction types are created they are then used in the wallet definition where you can define what type of wallet transaction is to be created by the system on the execution of specific events.
Business definitions
Wallets definitions are business rules which are used to control the behaviour of wallets throughout their life cycle. There can only be one active definition at a time.
Definition fields
This table contains an explanation of the sections of the wallet definition Data Entry page, a description of the usage of its fields and additional information.
...
Wallet Causes
Define the events/causes that will trigger automation on various wallet functions such as creation, cancellation and debiting. In some cases you must also define the wallet transaction type for the transactions that may have to be created.
...
By default wallets are created automatically when:
- A prepaid subscription is created
- A rewards participant is created
You have the option to define whether a wallet should also be created automatically when an accounts receivable is created.
...
By default wallets are cancelled automatically when:
- An accounts receivable is terminated.
You have the option to define whether a wallet should be cancelled when the relation between the prepaid subscription or rewards participant and the wallet no longer exists. This happens when the prepaid subscription is terminated or the accounts receivable handling the subscription financials is changed or when the rewards participant is terminated.
...
By default wallets are debited automatically when :
- Prepaid billing runs are executed to deduct money from the wallet for the subscribed services
- Spend Transactions are created to deduct money from the wallet for the redemption of awards
- Wallet balance expiration runs are executed to deduct money from the wallet which is equal to the amount of awards that has expired
...
By default wallets are credited automatically when:
...
Amount available in wallets which are to be cancelled can be reimbursed to the accounts receivable related to the wallet, so that the money is not lost
You can select whether you would like to enable reimbursing and on which occasions:
- On cancelling a wallet whether the cancellation is done manually through the action or automatically by one of the events set on the Cancel Causes tab
- On updating the accounts receivable responsible handling a prepaid's subscription financials
...
By default wallet transactions are voided when:
- An award transaction is cancelled so that money will be deducted from the wallet
- A spend transaction is cancelled so that money will be added to the wallet
- An award expiration transaction is cancelled so that money will be added to the wallet
- When a payment (financial transaction) is cancelled so that money will be deducted from the wallet
You have the option to define specific payment types that will trigger the voiding of the wallet transaction, instead of all payment types acting the same way.
...
Wallet Rules
Define rules related to various wallet functions that will dictate how the system should behave on the execution of certain events, such as crediting and reimbursing the wallet.
...
Balance Threshold Rules -
...
Define the minimum wallet balance threshold which is the minimum value the system accepts for the wallet balance. If the balance drops below the threshold, then the system blocks transactions that result in a debit (creation of debit, reimburse, transfer transactions or voiding of credit transactions).
This value is inclusive and zero by default; it can be positive or negative and can be modified by the user.
...
A set of rules applied while crediting a wallet that aim to keep the wallet and related accounts receivable in balance
...
A set of rules applied while reimbursing a wallet that aim to keep the wallet and related accounts receivable in balance
...
A set of rules applied while voiding a wallet transaction that aim to keep the wallet and related accounts receivable in balance
...
Defines a set of rules which are applied while automatically topping up a wallet.
Automatic top up process is done in combination with payment runs available in payment gateways
For each top up rule you can define the following parameters:
...
Wallet balance periods
Wallet Balance Periods represent the periods of time during which the balance of each wallet was calculated. As a result, the opening balance of each wallet is calculated based on the wallet transactions which were generated within that period's time frame plus the balance brought forward from previous periods. Periods can be either 'Open' or 'Closed'. However, only one period can be 'Open' at a time and it will always be the latest one. Each period's duration is Monthly.
The first period is automatically created by the system. The following periods are created once the current period is closed (via Closing Period process). Once a period is closed it cannot be reopened and no more wallet transactions can be posted against it, as wallet transactions can only be posted against 'Open' periods and can only be related to a single period.
To close a period through the Data Entry page click on 'Actions > Calculate Wallet Balance per Period' available through the Actions Menu. To view a list of errors that may identified while calculating the period and therefore not processed click on 'Actions > View Wallet Balance per Period Errors' from the Actions Menu.
Wallet Balance period fields
This table contains an explanation of the sections of the wallet balance period Data Entry page, a description of the usage of its fields and additional information.
...
| Main Information | |
|---|---|
Number: The period's number which is consisted by the period's month and year, e.g. 201701 for January 2017. Name: The period's name which is consisted by the period's month and year, e.g. January 2017. Life Cycle State: The period's life cycle state which can be 'Open' or 'Closed'. Multiple closed periods can exist but at any point of time, one and only one of them can be in an 'Open' life cycle state. From Date: The first day of the period's month. To Date: The last day of the period's month. Closed Date: The date when the period was closed. This is available once a Period Calculation process is completed which is also the only process which modifies this information. Closed by Wallet Balance Period: The period which follows this period. This information is available only as long as this period is 'Closed'. Period Closing Performed by User: The user who initiated the Period Closing process. This information is available only when the period is 'Closed'. | |
| Wallet Balance Period Totals | The Period's totals as calculated during the 'period closing' process. This information includes the following:
|
| Period Wallet Transactions | |
| The wallet transactions of any type that were submitted against the period. | |
Related configuration areas
The following modules are related to Wallets and may be configured for the Wallets module to operate at its full capacity.
| Module Link | Area | Description |
|---|---|---|
| Financial Transactions | Financial Transaction Types | The financial transaction types will be used in the wallet definitions to define the transaction types to be created on certain wallet events or that will be used as conditions to triggering certain events. |
| Payment Gateways | Payment Run Definitions | Payment runs are used to automatically top up wallets of customers that are paying with credit cards and their wallet balance falls below a defined threshold |
Using Wallets and Wallet Transactions
| Info |
|---|
Finance > Wallets > Manage Wallets |
Wallet fields
This table contains an explanation of the sections of the Wallets Data Entry page, a description of the usage of its fields and additional information.
...
Accounts Receivable: The accounts receivable which is related with the wallet and which can be kept in balance with. In the case that the wallet is cancelled and there is money in the wallet, then the account will be reimbursed with that money.
Life Cycle State: The life cycle state of the wallet which shows whether its operational. It can be 'Effective' or 'Cancelled'.
...
Balance: This is the balance of the account as of today. Note that a part of the amount may only be available in the future which can be seen from the 'Allotments' drill-down available in the 'Wallet Transactions' tab
30-days Expiring Amount: The total amount that expires in the next 30 days
Unconditional Balance:The total amount, that depends on conditions which can be found in the 'Allotments' drill-down available in the 'Wallet Transactions' tab
Conditional Balance: The total amount, that has no conditions
...
Latest Auto Top Up Date: The latest date that an automatic top up was applied on the wallet.
This is a Read-Only field which is set if the wallet is automatically topped up by Using Automatic Payment Run Definitions.
Latest Debit: The latest date that the wallet was debited with a debit wallet transaction
Latest Credit: The latest date that the wallet was credited with a credit wallet transaction
Last 12-months Awarded Amount: Amount that was awarded in the last 12 months, which is only applicable if the wallet owner participates in a Reward program
Last 12-months Spent Amount: Amount that was redeemed in the last 12 months, which is only applicable if the wallet owner participates in a Reward program
Last 12-months Subscription Spent Amount: Amount that was spent in the last 12 months on subscriptions, which is only applicable if the wallet owner is a subscriber
...
Wallet Balance Period: The period which is considered the current running period and for which the balance is calculate
Total Period Debits: The sum of all debit wallet transactions created for the current period
Total Period Credits: The sum of all credit wallet transactions created for the current period
Opening Balance: The balance carried from the previous period
...
Wallet Consumption
...
Estimated Consumption Days: An estimate of the number of days until the total Wallet Balance will run out.
Estimated Consumption Date: An estimate of the date on which the Wallet Balance will run out.
...
Information related to the consumption of the Wallet Balance of each of the products related to the Wallet:
Estimated Days Left To Consume Full Amount: An estimate on the number of days left until the total Wallet amount allotted for the specified product is consumed.
Estimated Date Of Full Amount Consumption: An estimate of the date by which the Wallet amount allotted for the specified product will be consumed.
Latest Date Of Estimation: The date that the last estimate was performed.
...
Search Criteria / Conditions: A list of search criteria is available which represent the conditions set on the available balance. Either search without conditions to see the breakdown of the total balance or define a condition to only find the amount available to be spent based on those conditions. Available search conditions are Merchant, Products, Days,Time which are what is set on wallet transaction allotments, usually coming from the spend conditions set on reward offers.
Amount Based on conditions: The total amount which can only be spent if the conditions on the amount are met
The result of the search is a breakdown on the balance based on the conditions
...
The prepaid subscription which are paid through the specific wallet
...
Provides details related to the process that created or cancelled the wallet, according to the current life cycle state.
For example:
- Created By Process Name: The process that created the Wallet. (i.e. Manual or Automatic)
- Created by Entity Name: The entity that triggered the generation of the Wallet (i.e. Subscription or Accounts Receivable, Rewards Participant).
- Created by Entity Value: The value of the entity that triggered the generation of the Wallet (i.e. Subscription No., Accounts Receivable No., Rewards Participant No.).
Wallet transaction fields
There are multiple types of wallet transactions, (debit, credit, void, reimburse) and each one has different areas available according to its type
This table contains an explanation of the sections of the Wallet Transactions Data Entry page, a description of the usage of its fields and additional information.
...
The Wallet Transaction Type, which determines the nature of each transaction depending on its classification. The supported Wallet Transaction Type classifications are the following:
- Credit
- Debit
- Reimburse
- Void
- Transfer
...
The wallet to which money will be transferred.
...
When transactions must be cancelled so that their amount does not affect the wallet balance they are voided. Wallet transaction that can be voided are debit, credit or reimburse.
The field provides the number of Void transaction created when the respective debit credit or reimburse transaction was voided.
...
Expiration Date
...
The date on which the money added in the wallet will expire. The date is used by 'Wallet Balance Expiration Runs' to debit the wallet with unspent wallet Amounts that are past their expiration date.
...
Allotments
...
Credit and debit wallet transactions.
For debit transactions the section is just informative.
...
A wallet transaction allotment is used to identify restrictions on how the funds available in the wallet, generated by credit transactions, can be consumed. The consist of the following fields:
- Allotment Amount: The total amount of the allotment.
- Validity Date: The date on which an Allotment can start being spent and before which, the amount is not yet available and not taken into consideration by the Wallet Balance. The validity date can be set either manually or automatically if created via a Rewards Award Transaction.
- Number of conditions: the number of different conditions that are applicable on the allotment amount. For example you can say that the allotment amount can be spent only be spent on a specific product every Monday. This would set the number of conditions to 2
- Conditions
- Product Conditions
- Product: the specific product on which the funds can be consumed
- Product Type: Product type on which the funds can be consumed
- Product Family: Product family on which the funds can be consumed
- Unit Conditions
- Unit: the unit on which the funds can be consumed
- Group: the group on which the funds can be consumed
- Day Conditions
- Days of the week on which the funds can be consumed
- Time Conditions
- "From" and "To" times during which funds can be spent
- Product Conditions
...
Wallet products are used to track the products that the wallet was credited or debited as part of a wallet transaction. Multiple products can be specified on each Wallet Transaction.
...
Creating and processing wallets
| Note |
|---|
Actions are subject to validations which take place before an action is initiated (prerequisite) or after it is submitted (postcondition). |
Selecting and creating a wallet
...
To manually create a wallet navigate to Wallets and specify the criteria that match the wallets you are interested in, or click on NEW from the Actions Menu in the Summary page. You only need to define the accounts receivable of the customer that the wallet is created for before you click on SAVE and create the wallet.
Wallets are created automatically as configured in the 'Wallet Definition' when the following events occur in the system
- On creating a new accounts receivable
- On adding an accounts receivable that is not already related to a wallet on a prepaid subscription
- On adding an accounts receivable that is not already related to a wallet on a rewards participants
| Postconditions | Only one wallet with an 'Effective' life cycle state can be related to an accounts receivable at a time. |
|---|
Modifying a wallet
Unlike other modules, Data Entry pages, information available in the Wallets Data Entry page is mostly informational, apart from the accounts receivable which can be set only when creating the wallet. The rest of the information, cannot be manually set and it's automatically updated when various events occur in the system. For example, when the Prepaid billing Run is executed the balance information, transaction information and balance breakdown is updated accordingly. In the same way, when awards or spends are done for a rewards participant, information in the wallet is updated accordingly.
Cancelling a wallet
...
To manually cancel a wallet while in the Data Entry page click on Actions > Cancel from the Actions Menu.
Wallets are cancelled automatically when the following events occur in the system
- The related accounts receivable is terminated
- When the related accounts receivable is changed on the prepaid subscription
- When the prepaid subscription related to the accounts receivable is terminated
- When the Rewards Participant related to the accounts receivable is terminated
...
Manual credit wallet transaction
Wallet funds can be increased by creating credit wallet transactions.
Credit wallet transactions can be created at the Wallet Transaction Data Entry page by selecting NEW or by selecting Actions > Credit Wallet Transaction from the Actions Menu of the Wallet Data Entry page.
'Top Up' wallet
Funds from a wallet are deducted usually when a prepaid subscription is billed or when rewards participants redeem their awards. A functionality is available which detects whether the wallet balance has fallen beneath a certain threshold, in which case the system automatically tops up the wallet from a subscriber's online account, which it can either be through a credit card or Paypal. This is particularly useful to avoid the interruption of a subscription service with a recurring fee, which requires automatic payments.
In order to be able to use the Top up functionality the Top Up rules in the Wallet Definition must be set up and the payment gateway run which is responsible for conducting the payments.
Payments and Credit Note
When posting a Payment or a Credit Note (Financial Transactions) to the related accounts receivable the system can be configured to automatically add the amount of money paid to the account, to the wallet. For example, lets say that subscribers to a prepaid model can buy vouchers with which they can pay for their prepaid subscription. When the subscriber pays with the voucher, a payment will be made to the accounts receivable, equal to the voucher amount. The system will then automatically credit the wallet with the same amount of money so the subscriber can start paying for his subscription through the wallet. In the same way if a credit note is created at the accounts receivable, the wallet can be credited so that the money can be used to fund processes through the wallet
Executing prepaid billing run
Prepaid billing run is responsible for billing prepaid subscriptions for the services a customer is subscribed to. In the case that a service has already been paid and for some reason removed before using all the days it was paid for, the billing run will credit the wallet for the unused amount and the funds can again be used by the subscriber on something else.
On award transactions
Rewards participants gain awards through reward offers which they can then spend to buy services or products. As awards are handled through the participant's wallet, when an award is gained then the wallet will be credited and therefore funds increased. Many times awards come with conditions / restrictions how the awarded money can be spent. These conditions are carried over in the wallet funds and therefore the owner is only allowed to spend the available funds as dictated by the conditions. For example, if you receive an award or €20 that can only be spent on Mondays and the current day is Tuesday then even though that you will have the money available in the wallet for spending, you will not be allowed to use that amount today.
Note that award transactions in most the cases they are created through the creation of customer events which in turn trigger the awards.
Cancellation of spend transactions (Voiding)
Rewards participants can redeem the awards gained. Awards and spends (redemption) are handled through the participant's wallets. When a spend is done (i.e. redeeming of awards) money is deducted from the particiapnt's wallet; if for any reason the spend is cancelled, for example the participant returns the product bought with the award money, then the money will be placed back to the wallet.
This is achieved by voiding the debit wallet transaction responsible for deducting money from the wallet.
Cancellation of expiration transactions (Voiding)
Funds available in the wallet may have an expiration date. This is particularly common when funds are earned through awards. For example, when you participate in a rewards program, the awards you earn will not last forever but will most probably expire by the end of the month or year. Expiration transactions are the ones created to deduct money from the wallet equal to the amount that has expired and which in turn debit the wallet. If for some reason the award was mistakenly expired then the funds are added back to the wallet by cancelling the expiration transaction.
This is achieved by voiding the debit wallet transaction responsible for deducting money from the wallet
| Anchor | ||||
|---|---|---|---|---|
|
| Excerpt | ||
|---|---|---|
| ||
Learn to work with Wallets. |
| Panel | ||||
|---|---|---|---|---|
| ||||
On this page
|
Overview
A wallet is an account used by customers within CRM.COM to fund prepaid subscriptions and rewards.
Major features
- Wallets can be created, updated, or canceled manually or automatically, through various processes
- Wallets can be topped up automatically when a predetermined threshold is reached, through credit cards registered with CRM.COM.
- Wallet transactions are used to credit, debit and refund wallets. Transactions can be created manually or triggered by other processes.
- Funds can be transferred between wallets
- Each wallet is associated with an accounts receivable and funds can be transferred between the two.
Setting Up Wallets
| Info | ||
|---|---|---|
| ||
Configuration > Finance Application > Wallets |
Wallet Transaction Types
User definable types are used to distinguish between wallet transactions of the same classification. Classifications define the operational characteristics of each transaction.
For example, create two separate transaction types of classification wallet credit, in order to differentiate between transactions that fund the wallet by credit card or with a voucher.
There are five predefined transaction classifications:
- Wallet Credit funds the wallet.
- Wallet Debit deducts funds from the wallet.
- Wallet Reimburse takes funds from the wallet and credits the accounts receivable of the owner.
- Wallet Void transactions reverse and cancel Credit, Debit and Reimburse transactions.
- Wallet Transfer moves money from one wallet to another.
If multiple types are created for each classification, then a default type must be selected for each one. Use Set as Default from the Data Entry page or Change Default from the Summary page Actions menu, to set the default type.
Once transaction types are created, define what type of transactions will result from the execution of specific events in the wallet definition.
Definition
Wallets definition is a set of business rules that are used to control the behavior of wallets throughout their life cycle.
Definition fields
The table describes the sections of the Wallet Definition Data Entry page and explains how the fields on the page are used.
Mandatory Configurable
Wallet Causes Events that cause automatic wallet actions | |
|---|---|
| Create Wallets | Wallets are created when a prepaid subscription, rewards participant or (optionally) an accounts receivable is created. |
| Cancel Wallets | Wallets are canceled when an accounts receivable is terminated. Optionally, define whether a wallet should be canceled when it is no longer associated with a prepaid subscription and/or rewards participant. This can happen when:
|
| Debit Wallets | Wallets are debited when:
The credit note type that will be used to credit the account of the wallet can be defined. It is also possible to define whether a wallet should be debited when funds are used to settle an invoice or bill associated with the accounts receivable (using only the unconditional wallet balance). For each case, it is possible to define a debit wallet transaction type other than the default. |
| Credit Wallets | Wallets are credited when:
The invoice type that will be used to debit the account of the wallet can be defined. For each case, it is possible to define a credit wallet transaction type other than the default. |
Reimburse Wallets
| When a wallet is canceled its balance is returned to the wallet's associated accounts receivable (the funds are preserved). The accounts receivable is reimbursed:
For each case, it is possible to define a reimburse wallet transaction type other than the default. |
| Void Wallet Transactions | Wallet transactions are voided when:
Specific payment cancellation types can be defined to void wallet transactions. For each case, it is possible to define a void wallet transaction type other than the default. |
Wallet Rules | |
Balance Threshold Rules | Define the minimum acceptable wallet balance. The threshold value can be positive or negative. It is user-definable, inclusive and '0' by default. If the balance drops below the threshold, the system blocks debit transactions (including reimburse, transfers or voiding of credit). |
| Wallet Transaction Limits | Defines rules that are used to set the maximum total of debit and credit wallet transaction within a day or year. E.g., Credit = 50 and Debit = 50 total = 100 and which can differentiate based on KYC profile or accounts classification. Limits can be set to consider all wallet transaction types or specific types. |
| Crediting Rules | Define rules for crediting a wallet. If Debit the Related Accounts Receivable is enabled, select a debit financial transaction type and product to be used for debiting the account. A credit wallet transaction type can be defined as the trigger. |
| Reimbursing Rules | Define the rules for reimbursing an accounts receivable when a wallet is terminated to preserve the funds. If Credit the Related Accounts Receivable is enabled, select a credit financial transaction typeand product and a limit on the maximum amount that the account can be reimbursed. A reimburse wallet transaction type can be defined as the trigger. |
| Voiding Rules | Define the rules for voiding wallet transactions.
|
Wallet balance periods
A wallet balance period is the monthly time frame during which the balance of the wallet is calculated. The opening balance of a wallet is the sum of the balance brought forward from the previous (closed) period and balance resulting from transactions in the current (open) period.
The first period is automatically created by the system. The next period is created once the current one is closed (using the Closing Period process). Closed periods cannot be opened again or register new wallet transactions. Wallet transactions can only be posted against the one open period.
To close an open period from the Data Entry page, click on Calculate Wallet Balance Per Period available through the Actions menu. To view a list of errors identified while calculating the period, click on View Wallet Balance Per Period Errors available through the Actions menu.
Wallet Balance Period fields
The table describes the sections of the Wallet Balance Period Data Entry page and explains how the fields on the page are used.
Mandatory Configurable
| Main Information | |
|---|---|
Number is a concatenation of integers representing the period's month and year. E.g., 201701 (January 2017). Name is made up of the period's month and year, e.g. January 2017. Life Cycle State can be 'Open' or 'Closed'. There can be multiple closed periods in the system, but only one can be in 'Open' at a time. From and To Date are the first and last day of the period, respectively. Available for 'Closed' periods only: Closed Date: The date on which the period was closed is available once the period closing process is completed. Closed by Wallet Balance Period: The name of the following period. Period Closing Performed by User: The user who initiated the Period Closing process. | |
| Wallet Balance Period Totals | The following totals are calculated during the period closing process:
|
| Period Wallet Transactions | |
| All wallet transactions that were submitted against the period. | |
| Anchor | ||||
|---|---|---|---|---|
|
Used to define rules and policies for operating CRM.COM as an electronic money platform.
Electronic Money Policies Definition fields
The table describes the sections of the Electronic Money Policies Definition Data Entry page and explains how the fields on the page are used.
Mandatory Configurable
Transaction Fee Rules (Determine the transaction fees for customers and merchants that use the platform to exchange electronic money) |
|---|
Transaction fees can be triggered by events. Fee Percentage: percentage of the total transaction amount, set by the user, and used to calculate the fee. Fee Ceiling: a maximum amount can be defined to avoid high transaction fees. Transaction Amount Range: thevalues that trigger the application of the rule. Financial Transaction Type used to charge the fee, which must be an FT type of 'invoice' classification Product used to represent the fee that is charged. Apply on Events: Enable the events that trigger the fee.
|
Maintenance Fee Rules (Determines the maintenance fees for customers owning a wallet in the platform) |
Maintenance fees are charged periodically (depending on the fee billing frequency) after a certain period of inactivity. Wallet Inactivity Period that triggers the maintenance fee. Fee Amount charged to the wallet owner for maintenance. Fee Billing Frequency (weekly, monthly, quarterly, or yearly), calculated and charged to the wallet owners for maintenance. Maintenance Fee Transaction Type |
Related configuration areas
The following modules are related to Wallets and may be configured for the Wallets module to operate at its full capacity.
| Module Link | Area | Description |
|---|---|---|
| Financial Transactions | Financial Transaction Types | Used in wallet definitions to define the types of transactions that result from specific wallet events and as a condition to trigger events.
|
| Payment Gateways | Payment Run Definitions | Used to automatically top up wallets (funded by a credit card) that fall below a certain threshold. |
Using Wallets and Wallet Transactions
| Info |
|---|
Finance > Wallets > Manage Wallets |
Wallet fields
The table describes the sections of the Wallets Data Entry page and explains how the fields on the page are used.
Mandatory Configurable
| Main Information | |
|---|---|
Accounts Receivable: The customer account associated with the wallet. Funds from canceled wallets are transferred to the associated accounts receivable. Life Cycle State: Indicates whether a wallet is operational (Effective) or not (Cancelled). | |
| Balance information | Indicates the currently available Balance, the amount that expires in the next 30 days and the amounts subject to conditions. Amount on Hold is the amount that is not yet available for consumption due to a future validity date. Check the Allotments drill-down in the Wallet Transactions tab to view funds that are not yet available or subject to conditions. Wallet balances and transaction amounts can be represented in their default and alternative currency. The Alternative Currency set on wallets must be different than the default system currency and cannot be modified. |
| Latest Activity | Latest Auto Top Up Date: a read-only field which is set if the wallet is automatically topped up by automatic payment run definitions. Latest Debit (date) Latest Credit (date) Last 12-months Awarded Amount (for reward program participants only) Last 12-months Spent Amount (for reward program participants only) Last 12-months Subscription Spent Amount |
Wallet Period Transactions | The wallet transactions of the current period along with their allotments. Balance Period: the current running period for which the balance is calculated. Opening Balance Calculation Date:The date on which the current period started. Opening Balance: The balance carried over from the previous period. Total Debits: The sum of all debit wallet transactions created in the current period. Total Credits: The sum of all credit wallet transactions created in the current period. |
| Amount in alternative currency | Applies to all wallet transactions, provided an alternative currency was configured in General Settings. |
| Extra added amount in alternative currency | Applied on the wallet transaction. |
| Initiated by currency | Indicates whether a process that manages amounts in alternative currencies initiated the wallet transaction. E.g., a credit wallet transactions resulting from a customer award transaction in an alternative currency. |
Log Information (How the wallet was created or canceled) | |
| |
| Info |
|---|
Finance > Wallets > Access Wallet Transactions |
Wallet transaction fields
Each type of wallet transaction (debit, credit, void, reimburse) has different sections, depending on its classification.
Transactions can be created through the Transaction or Wallet data entry page.
The table describes the sections of the Wallet Transactions Data Entry page and explains how the fields on the page are used.
Mandatory Configurable
| Main Information | |
|---|---|
Life Cycle State: Transactions in an 'Effective' state are taken into consideration when calculating the balance of the wallet. Wallet: The source of the transaction. Type: Depends on the classification of a transaction and determines its result. The available transactions classifications are:
Amount: The value of the transaction. Transaction Date Wallet Balance Period & Wallet Balance Period Date Funded by: The customer event, or reward offer or other entity that caused the creation of the credit wallet transaction Consumed by: the event or entity that has consumed the amount from the debit wallet transaction To Wallet: The destination of the funds. (Available for Wallet Transfer) Extra Added Amount: A credit bonus reflected in the balance but not taken into account by processes reimbursing the wallet or invoicing the accounts receivable. The value can be set automatically, when a credit transaction results from a voucher payment, offering bonus value as part of a promotion. (Available for Wallet Credit) Expiration Date: The day on which wallet funds expire, used by the 'Wallet Balance Expiration Run' to debit unspent amounts. (Available for Wallet Credit and Transfer) Voided by: The number of the transaction that voided a debit, credit or reimburse transaction. Voiding a transaction cancels it without affecting wallet balance. (Available for voided transactions) | |
Allotments | Allotments restrict how funds resulting from credit transactions can be spent.
|
Products | The products associated with the wallet debit or credit. Multiple products can be specified on each wallet transaction. (Available for Wallet Credit and Debit) |
Creating and processing wallets
| Note |
|---|
Actions are subject to validations that take place before an action is initiated (prerequisite) or after it is submitted (post-condition). |
Selecting and creating a wallet
...
Wallets are created manually and automatically (according to the configurations of the wallet definition).
To create a wallet manually:
Under Manage Wallets specify the criteria that match the wallets you are interested in or use NEW from the Actions menu on the Summary page. Define the accounts receivable that the wallet is created for and click SAVE to create the wallet.
Wallets are created automatically when:
- A new accounts receivable is created
- An accounts receivable that is not already associated with a wallet is added on a prepaid subscription or rewards participant.
| Postconditions | Only one wallet with an 'Effective' life cycle state can be associated with an accounts receivable at a time. |
|---|
Modifying a wallet
...
With the exception of the accounts receivable field which is selected when the wallet is created, values of the wallets Data Entry page are read-only and automatically updated by system events. Balance information, transaction information, and balance breakdown are updated when a prepaid billing run is executed; wallet information is updated when rewards are awarded or spent.
Canceling a wallet
...
Wallets are canceled (instead of deleted) so that their information is retained. Wallets are canceled manually or automatically.
To manually cancel a wallet from the Data Entry page use Cancel Wallet action available in the Actions Panel.
A wallet is canceled automatically when:
- The associated accounts receivable is terminated
- The accounts receivable on a prepaid subscription is replaced by another
- A prepaid subscription related to the accounts receivable is terminated
- A rewards participant related to the accounts receivable is terminated
| Anchor | ||||
|---|---|---|---|---|
|
...
The following processes result in a wallet being funded:
Manually creating a credit wallet transaction
Credit wallet transactions (which increase the funds available in the wallet) can be created by selecting NEW from the wallet transaction Data Entry page or by selecting Credit Wallet from the Actions Panel of the wallet Data Entry page.
Topping up a wallet
Funds are deducted from a wallet when a prepaid subscription is charged or when awards are redeemed. When the balance falls below a predetermined threshold the system can use the subscriber's online payment system (e.g., credit card or PayPal) to top the wallet up and avoid the interruption of services.
Top up rules must be set up in the wallet definition and associated payment gateway run.
Posting a payment or credit note
The system can be configured to automatically credit the wallet when a payment or credit note is posted in an accounts receivable.
Transferring money from one wallet to another with an action
Transferring money from the account to the wallet (as long as the account balance is less than zero)
Executing a prepaid billing run (to bill Prepaid subscription services)
If a prepaid service is removed before being fully consumed, the billing run credits the wallet with the unused amount.
Creating an award transaction
Awards are funds that credit the wallet of reward participants and can be redeemed for goods and services. Although awarded funds appear available in the wallet, spending them can be subject to conditions or restrictions. For example, a €20 award that must be spent on a Monday.
Most award transactions are triggered by the creation of customer events.
Canceling a spend transaction - Voiding
The wallets of reward participants are credited with awards and administer how the awards are redeemed. When an award is redeemed funds are debited from the participant's wallet. Funds can be returned to the wallet by voiding the debit wallet transaction (e.g., in case the participant returns a product bought with awarded cash).
Canceling an expiration transaction - Voiding
Funds earned through awards that are available in the wallet can be subject to an expiration date (e.g., end of the month or year). Expiration transactions debit expired amounts from the wallet. Funds can be returned to the wallet by voiding the debit wallet transaction (e.g., in case the award was expired by error).
| Anchor | ||||
|---|---|---|---|---|
|
...
Funds in the wallet are used by two primary processes within Wallets in CRM.COM . Pay are mostly used to pay for prepaid subscriptions and to redeem awards gained from reward participation.
In some occasions money used to fund the wallet they have an expiration date. This means, that even if not spent by the customer, the money can not be used once expired and therefore they are deducted from the wallet's available funds.
Manual debit wallet transactions
Wallet funds can be deducted from the wallet by creating debit wallet transactions.
Debit wallet transactions can be created at the Wallet Transaction Data Entry page by selecting NEW or by selecting Actions > Debit Wallet Transaction from the Actions Menu of the Wallet Data Entry page.
Executing Prepaid Billing run
Prepaid billing run is responsible for billing prepaid subscriptions for the services a customer is subscribed to. When executed services will be billed and money will be directly deducted from the subscriber's wallet to pay for the billed services. The wallet is debited by using debit wallet transactions.
Cancelling a payment (Voiding)
When a payment (financial transaction) which was used to add money to the wallet is cancelled then the related money must also be removed from the wallet so that the customer can no longer spend them. This is achieved by voiding the credit wallet transaction that was used to add the money to the wallet
Cancellation of award reward transactions (Voiding)
Rewards participants can be awarded when participating in a rewards program. The awards gained, are available in their wallets and can be redeemed. If for some reason, the award is cancelled, for example the participant returned the products that gained him the awards, then the wallet money must also be deducted. This is achieved by voiding the credit wallet transaction responsible for funding the wallet.
Creation of spend reward transactions
As aforementioned, rewards participants can redeem the awards gained. Awards add money to the wallet, while spends (redemption) deducts money from the wallet. When a participant makes a purchase using the money that was awarded to her the system will debit the wallet accordingly. The system creates debit wallet transaction which is equal to the spend reward transaction used to redeem the points.
Note that spend transactions are created through the creation of 'spend customer events' which in turn trigger the spend reward transaction.
Wallet expiration run
Funds available in the wallet may have an expiration date. This is particularly common when funds are earned through awards. For example, when you participate in a rewards program, the awards you earn will not last forever but will most probably expire by the end of the month or year. When funds expire, the system creates award expiration transactions which in turn trigger the creation of debit wallet transactions which debit the wallet with the same amount as the expired amount.
Reimbursing a wallet
...
Cancelling Wallets
When a wallet is cancelled the money a wallet reimburse transaction is created and deducts the money form the wallet for the total balance (provided it is positive) including any extra added amounts and adds that amount to the customer's wallet
On changing a prepaid subs A/c
When the accounts receivable which is related with a wallet is changed from a prepaid subscription, for example when the subscription's owner is changed, then the related wallet's money are deducted ( the total balance, provided it is positive, including any extra added amounts ) from the wallet by creating a reimburse wallet transaction and added to the accounts receivable
Manual reimbursing
You have the option not to enable automatic reimbursing and handle reimbursement manually so you can have more control.To manually reimburse an amount you can create a NEW reimbursement transaction through the Wallet Transaction Summary page or by using the Actions > Reimburse Wallet Transaction from the Actions menu in the Data Entry page of the Wallet you wish to reimburse.
Voiding a wallet transaction
...
You can, however, manually void a wallet transaction from the transaction's Data Entry page. From the Actions Menu click on Actions > Void and then click on SAVE on the modal window
The voided transactions remain visible and are always related to the void wallet transaction.
Transferring money between wallets
Wallet funds can be easily transferred from one wallet to another by creating a NEW transfer wallet transaction from wallet transactions summary page or by Actions > Transfer Wallet Transaction available in the Data Entry page of the wallet you wish to transfer money from.
When a transfer transaction. The system creates three transactions. A wallet transfer, a debit wallet transaction which will debit the source wallet (the wallet FROM which money will be transferred) and a credit wallet transaction to credit the target wallet (the wallet TO which money will be transferred).
| Preconditions | Both Wallets are 'Effective' There is enough money in the Wallet |
|---|
Handling wallet money allotment
...
In the system allotments can be seen through Allotments section in credit and debit wallet transactions, available in the Wallet and Wallet Transaction Data Entry pages and through the Wallet Balance Breakdown section available in the Wallet Data Entry page.
- In credit wallet transactions, allotments designate the conditions FOR which the transaction money should be allocated.
- In debit wallet transactions, allotments designate the conditions TO which the transaction money was allocated.
Allotment can take place either manually or automatically. The system will (automatically) set the wallet transaction allotments in the following cases:
- Voucher Usage: When vouchers are used as a payment method for prepaid subscriptions , if the voucher is designated for specific products then a wallet credit transaction is created for the amount of the voucher and a allotment is added for each voucher specific product.
- Prepaid Billing Run Execution : When a prepaid billing run is performed and the wallet amount is consumed by specific products then a debit Wallet transaction is created for the consumed amount and an allotment for that product and its amount consumed is added on the Wallet Transaction.
- Award Reward Transaction Generation : When an award transaction is provided to a rewards participant, which can be consumed only by specific products, on a specific day of the week and by a specific merchant is submitted then a wallet credit transaction is created for the amount of the award and allotments are created for that same amount.
All spend conditions defined in the reward offer, that granted the award are added in the wallet allotment conditions.
Applying business flows on wallets
Expiring wallet balance
Funds available in a wallet may be expiring at some point. This is particularly popular feature in the case when funds have been earned through awards from reward offers, however, funds that are manually added to the wallet through credit wallet transactions can be created with an expiration date set. The amount of money that has expired is deducted from the wallet therefore the funds available to be spent are less by the amount that has been expired.
In order to achieve this, an expiration process is available in the system which can be set once and automatically executed to identify unspent wallet amount that should be expired based on the already specified 'Expiration Date', and debit the wallet for that amount.
If the expired amount is related to funds earned through awards, as opposed to manual credits with expiration date, then an Awards Expiration Transaction will be created which will in turn debit the wallet
It is recommended that Wallet Balance Expiration Runs are configured to be executed on a daily basis.
Wallet Balance Expiration Runs Fields
| Criteria Define the criteria that will be used to identify the amount that will be expired. | |
|---|---|
| Wallet Allotments Expired X Days Ago | Determines the Wallet Allotment Expiration Date in relation to the date of execution, measured in days. The process will retrieve wallet allotments having an expiration date which is equal to or before the execution date minus the specified number of days. If nothing is defined then '0' is assumed, so the process will retrieve wallet allotments having an 'Expiration Date' which is equal to or before the date of execution. |
Setting up the expiration process
| Info |
|---|
Finance > Wallets > Perform Wallet Balance Expiration Runs |
Access the definition and create a NEW definition by providing the required information. Once all the information is provided and the definition saved, click on SUBMIT to send the job to the scheduler to be executed or schedule for a later time. Given that you have set the 'Scheduling Settings' in the definition to be executed repeatedly then once the job is executed a new one will be scheduled for the frequency set in the settings.
Viewing future wallet balance
...
The balance available in the wallet data entry page takes into consideration the validity date. If you would like to check how much money will be available in the future, i.e. when the validity date of some of the locked funds is passed, then use Actions > View Future Balance from the Actions menu of the Wallets's Data Entry page and provide the date.
Communicating wallet information
...
You can use wallets related communication tags (text that is automatically replaced by values specific to selected records) when creating communications for wallets. Tags are available for selection by typing '#'.
Refer to Communications manual for a complete list of Wallets tags.
Notifying wallet amount
As wallets are used to either pay for prepaid subscriptions or reward offers awards and spends, there are many occasions where you would like to communicate with your customers, informing them that the funds in the wallet are running out or that there are awards about to be expired, as part of your customer relationship management. CRM.COM gives you the option to set up automatic batch processes that can identify and communicate with wallet owners informing them accordingly. For more information view Notifications.
Wallets Analytics
Segmenting wallets
You can group wallets with common business characteristics.
Funds can be deducted from the wallet by creating debit wallet transactions.
Select NEW from the wallet transaction Data Entry page or by selecting Debit Wallet from the Actions Panel of the wallet Data Entry page.
Executing a prepaid billing run
Prepaid subscription services are billed through a prepaid billing run. When a prepaid billing run is executed, services are billed and funds are directly deducted from the subscriber's wallet.
The wallet is debited by using debit wallet transactions.
Canceling a payment - Voiding
If a payment made to the account (resulting in a credit wallet transaction) is canceled, the respective wallet funds are deducted from the wallet by voiding the transaction.
Canceling an award transaction - Voiding
If an award is canceled (e.g., in case the participant returns the products that gained him the award) funds can be removed from the wallet by voiding the credit wallet transaction.
Creating a spend transaction
Awards credit the wallet of reward participants. Awards can be redeemed through spend transactions which debit the wallet. A debit wallet transaction is created to reflect the spend reward transaction.
Spend transactions are triggered by 'spend request' customer events.
Executing a wallet expiration run
Awarded funds available in the wallet can be subject to period validity constraints (e.g., until the end of the month or year). Expiration transactions trigger debit wallet transactions that remove the expired amounts from the wallet.
Transferring to account
Funds can be moved from the wallet to the associated account, debiting the wallet.
Paying off a bill or an invoice using wallet funds
An outstanding bill or invoice can be settled using the unconditional balance in the wallet (through the WEB API only).
Reimbursing an account through a wallet
...
Funds from a defunct wallet can be preserved and reimbursed into an accounts receivable. The maximum amount that can be reimbursed is specified in the wallet definition.
Canceling a wallet
When a wallet is canceled, its balance is transferred to the associated accounts receivable through a reimburse transaction.
Replacing a prepaid subscription accounts receivable
Funds are reimbursed from wallets whose accounts receivable is no longer associated with a prepaid subscription.
Manually reimbursing an account
Automatic reimbursement can be disabled for more control.
To manually reimburse an amount create a NEW reimbursement transaction in the wallet transaction Summary page or use the Reimburse Wallet action from the Action Panel on the Data Entry page of the destination wallet.
Voiding a wallet transaction
...
Voiding reverts a wallet transaction, removing funds that were added to the wallet or adding funds that were deducted from it. Credit, debit, reimburse and transfer wallet transactions can be voided. Voiding is in most cases undertaken by the system, as configured in the wallet definitions, resulting in crediting or debiting the wallet.
To manually void a wallet transaction use VOID from the Actions menu in the transaction's Data Entry page and then click on SAVE in the modal window.
Voided transactions remain visible.
| Anchor | ||||
|---|---|---|---|---|
|
...
Funds can be transferred from one wallet to another by:
- Creating a NEW transfer wallet transaction from the wallet transactions Summary page.
- Using the transfer wallet transaction action from the Data Entry page of the source wallet.
- Using the respective transfer to wallet action in the Action Panel.
When transferring funds three transactions are created:
- Wallet transfer transaction
- Debit wallet transaction (debits the source wallet)
- Credit wallet transaction (credits destination wallet)
| Preconditions | Source and destination wallets must be 'Effective'. Source wallet must have sufficient funds. |
|---|
Transferring money from wallet to account
...
Funds can be transferred from the wallet to the associated accounts receivable by using 'Transfer to Account' from the Action Panel of the wallet Data Entry page. Only the unconditional balance of the account can be transferred (debiting the wallet).
It is also possible to transfer funds to other accounts not associated with the wallet.
Wallet money allotments
...
Wallets are used to finance prepaid subscriptions and administer award transactions.
CRM.COM uses wallet transaction allotments to impose restrictions on the consumption of wallet funds. Allotted funds must be spent either on specific products or on certain dates or at designated merchants.
Allotments are displayed in the respective section of credit and debit wallet transactions, available in the wallet and wallet transaction Data Entry pages and through the wallet balance breakdown section available in the wallet Data Entry page.
In credit wallet transactions, allotments designate how funds 'can be' spent, while in debit wallet transactions, they designate how funds 'were' spent.
The system makes automatic allotments:
- When vouchers are used to fund prepaid subscription products.
- For transactions that debit the wallet during prepaid billing runs.
- For award transactions (spend conditions defined in reward offers are added in the wallet allotment conditions).
Allotments can also be made manually
Creating and maintaining reward transactions in the default currency and the alternative currency of the wallet
...
Reward processes that create award, spend and award expiration transactions display the amount in the default and alternative currency, and the applicable exchange rate.
- Award transactions: the amount is converted into either currency, depending on the award of the reward offer.
- Spend transactions: wallet owners can spend their wallet balance in either currency.
- Award expiration transactions: wallet balance in either currency is debited when an amount expires.
Purchasing electronic payment vouchers (eVouchers) using wallet funds
...
- There should be sufficient funds in the wallet to cover the purchase
- Buying eVouchers results in debiting the wallet (value of voucher type * number of vouchers). The requested vouchers are generated automatically.
- If the wallet amount is allotted to a specific set of products or product types, then the customer must have sufficient funds allotted for at least one of the products supported by the voucher.
Applying business flows on wallets
Expiring wallet balance
...
Wallet funds (especially awards earned through reward offers) are subject to expiration.
Funds added through credit wallet transactions can also be created with validity parameters.
The expiration process can identify unspent/expired wallet amounts and deduct them from the wallet balance.
When awarded funds expire, an awards expiration transaction is created which debits the wallet.
This background process is executed every 1 hour.
- Navigate to Foundation > Platform > Manage Admin Settings > Batch Processes Admin Board
- Go to Recurring System Processes
- In Execute Wallet Balance Expiration Runs click on:
- 'View Logs' to view already executed runs.
- 'Stop' to stop the execution of the run.
Viewing future wallet balance
...
The 'Validity Date' of funds in a wallet affects the available balance. Setting the 'Validity date' in the future restricts when the money can be spent. This is ideal for allotments and awards.
To view the balance that will be available once the funds are valid, use 'View Future Balance' from the Action panel of the wallet Data Entry page and enter the date.
Viewing product consumption
...
Product consumption information is relevant to wallets used to fund prepaid subscriptions. The utility provides an estimation of the days left until the wallet funds run out, based on current service consumption. For example, if you have €20 in your wallet and you are subscribed to a service with a flat rate of €1/day, then the Estimated Date of Full Amount Consumption will be 20 days.
Prepaid billing run and bill subscription actions automatically calculate estimations. The estimations can be accessed through the View Product Consumption action available in the Action panel.
Enforcing wallet consumption
...
In order to fund a prepaid subscription and avoid deactivation, a wallet must have a sufficient balance to cover all subscription services.
In case the wallet balance is not sufficient to activate a prepaid service for its pre-rated duration, the services will be deactivated and the balanced will not be affected.
To avoid deactivation, the customer may select to use the existing balance to fund his subscription services for a shorter period, by using the Enforce Wallet Consumption action.
| Note |
|---|
The action can only be performed on prepaid pre-rated services. For more information, refer to Billing of Prepaid Subscriptions. |
Viewing the balance breakdown
...
The balance breakdown displays a list of credit records that make up the total available wallet balance. The records are grouped on common conditions, that designate how (on which reward partners and products) and when the funds can be spent.
Search criteria can be used to limit the displayed balance, based on conditions applied to wallet funds. The conditional and unconditional balance is displayed, as well as the total balance (in the absence of search criteria).
| Note |
|---|
Funds valid in the future are not taken into consideration in the balance calculation. |
Viewing beneficiaries
...
Wallets are used to fund prepaid subscriptions and to handle awards and spends. While a wallet can fund more than one subscription, it can only be used on one reward participant.
To view prepaid subscriptions and reward participants funded through the wallet, click on View Beneficiaries in the Action panel.
Communicating wallet information
...
Information on wallets can be communicated by using the Communicate Wallets action available through the Actions menu.
You can use tags (text that is automatically replaced by values specific to selected records) related to wallets when creating communications. Tags are available for selection by typing '#'.
Refer to the Communications manual for a complete list of wallets tags.
Notifying wallet amount
...
CRM.COM enables the user to group customers for communication purposes. Customers can benefit from wallet specific information (such as when their funds are running low or when awards are about to expire).
For more information, view Notifications.
Funds can be transferred between customers and between companies (partners and merchants) and customers. Companies (partners and merchants) are identified by their accounts receivable and customers are identified by their wallets.
Electronic money policies use two types of fees, one for transactions and one for maintenance (a fee charged on wallets).
Refer to Electronic Money Policies Definition for system configuration information.
Wallet Transaction Fees
Variable system fees charged on the customer wallet or account. The fees are calculated as a percentage of the transaction depending on the transfer type, and expressed in the currency of the account, as defined by the transaction rule (or the fee ceiling, in case the percentage exceeds the cap amount). If the account currency is different than the system default, the fee is converted accordingly.
Wallet transaction fees are applied in the following cases:
- Wallet to account transactions (customer to partner)
- The account of the partner is charged
- Account to wallet transactions (partner to customer)
- The account of the partner is charged
Wallet to wallet transactions (customer to customer)
- The wallet of the customer initiating the transactions is charged
- If a wallet cannot cover the transaction fee it is rejected.
Wallet Maintenance Fees
A recurring background process that is executed once a day calculates the fees.
Wallets that have been inactive for the period defined in the electronic money policy and have a positive balance are charged the maintenance fee, as defined in the maintenance rule. The date of the last (non-maintenance) transaction is used to calculate wallet activity.
When the wallet balance is not sufficient to cover the maintenance fee, the wallet is charged its remaining balance.
Like transaction fees, maintenance fees are applied in the currency of the wallet. If that is different from the system default currency, the amount is converted.
- Navigate to Foundation > Platform > Manage Admin Settings > Batch Processes Admin Board
- Go to Recurring System Processes
- In Execute Wallet Balance Expiration Runs click on:
- 'View Logs' to view already executed runs.
- 'Stop' to stop the execution of the run.
Wallets Analytics
Segmenting wallets
...
Wallets with common business characteristics can be grouped together. Use the lists in system business processes for identification of customers or for simple statistical calculations.
For more information on Segmentation segmentation and how you can create Wallets lists create wallets lists, refer to Segmentation.
Printouts
...
A wallet balance printout displays the transaction which took printout displays all wallet transactions that have taken place in the current year, the year's balance to-the balance of the wallet to date and the balance carried over from the previous year. It is available through the Wallets wallets Data Entry page in one of the following formats: HTML, XLS, CSV, RTF, PDFand PDF.
Refer to Printouts for information on how they can be created, printed and sent.
Wallets Business Examples
| Panel | ||||
|---|---|---|---|---|
| ||||
Scenario 1. Company ZX offers Prepaid Subscriptions to its customers. In Prepaid Subscriptions,prepaid subscriptions, where customers pay upfront for the services they chose to useselected services.
Case The customer has paid €300 and has two products, Sports HD and Kids HD, on their Subscription. Customer has subscribed to the normal Price Plan with the following rates: Kids HD: €20 per month Sports HD: €30 per month Solution Customers with Prepaid Subscriptions have both
Case A customer is subscribed to two channels, Sports HD (Rate: €30/month) and Kids HD (Rate: €20/month). The customer has already paid €300 towards the normal price plan. Solution Customers with prepaid subscriptions have an accounts receivable and a wallet. The wallet has the funds that the customer has paid upfront for use on their subscription. Once the subscription services reside in the wallet. Once a prepaid billing run is executed the following information is available in the wallet:
|
| Panel | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following process demonstrates how funds spent from the consumer's Wallet debit transactions are allocated against Credit Transactions (funds already available in the Wallet) credit transactions based on the aforementioned allocation logic.Table 1 lists a number of Debit and Credit Transactions reported into the System.
Table 1 - Wallet Transactions Table
Table 2 - Allocations TableTable 2 shows displays the allocation and the allocation order in which it occurs in the Systemsystem, taking into consideration the:
Table 2 - Allocations Table
|
| Note | ||
|---|---|---|
| ||
|
Glossary
| CRM.COM Term | Definition |
|---|---|
| Prepaid Subscription | A collection selection of customer services that are renewed automatically, billed on a recurring, usage or one-time basis and paid in advance. Prepaid subscriptions are funded directly from a subscriber's wallet. |
| Accounts Receivable | An accounts receivable is a A ledger of the financial transactions carried out between a company and its customers, such as invoices and payments. It The accounts receivable keeps a running balance of debits and credits and displays the amount a company is owed in exchange for goods supplied and services rendered. |
| Customer Events | Customer Events are financial Financial and marketing events performed by involving customers and are , registered within by CRM.COM to be rewarded or additionally processed by other functions of CRM.COMfor rewarding and additional processing. |
| Award Transactions | Award Transactions are used to award a Rewards Participant, for Transactions that credit the wallet of a rewards participant with a specific amount of money that was provided by a Reward Offer, and credit the Rewards Participants Wallet for that specific amountissued by a reward offer. |
| Spend Transactions | Spend Transactions are used to spend a specific amount of money, that was that debit funds awarded by a Reward Offer, and debit the Rewards Participants Wallet for that specific amount. |
| Expiration Transactions | Expiration Transactions are used to expire an awarded amount given to a Rewards Participant by debiting the Rewards Participant's Wallet. Award Expiration Transactions are generated because the Rewards Participant's awarded amount expires due to Reward Award Offer Validity period. |
| Rewards Participants | The customers who have signed up for rewards or have been automatically selected to participate |
| Merchants | Rewards Participating Merchants are merchants that have a partnership with the business that owns the reward platform and can participate in the provided reward Schemesreward offer from the wallet of a rewards participant. |
| Expiration Transactions | Transactions that debit the wallet of a rewards participant by the sum corresponding to an award that is no longer valid. |
| Rewards Participant | A customer who is participating in a rewards program and can be awarded offers provided through the program. |
| Rewards Participating Merchants | Merchants that collaborate with a rewards platform and can participate in reward schemes. |
| Panel | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ||||||||||
Related Links
|