THE ESSENTIALS

The CRM.COM Wallet

The CRM.COM Wallet is a digital wallet that keeps your customers' (contacts) money balances and payment methods.

Each wallet has a 16-digit code and carries three pockets, each one having its own transactions and balances. A Cash Pocket by CRM.COM, which provides an embedded payment gateway and stores open money that can be spent at any business; a Business Pocket that stores open money; and a Commerce Pocket that stores commerce money.

The CRM.COM Wallet is also a multi-currency wallet. The Cash pocket supports three currencies (EUR, USD, GBP) but allows your contacts to transact in 120+ currencies. Business and Commerce pockets have a single currency.

The CRM.COM Wallet has two deployment models. Embedded within the standard CRM.COM platform APPs or embedded within your own APPs using the CRM.COM self service APIs.

The Wallet within the CRM.COM APPs uses the Cash Pocket to hold open money and the CRM.COM gateway for topup and payout. In this model, the customer has one wallet linked to all businesses, a unique 16 digit PAN identifying a wallet with a Cash Pocket and then a pair of Business and Commerce Pocket per Business. However, in your Business branded APP, your customer has access only to the Cash Pocket and your Business and Commerce Pockets, still giving you full branding and control.

The Wallet within your APP can be developed by your team or or external integrator using the CRM.COM Self Service APIs. In this model you have the option to use the Cash Pocket and the option to have the CRM.COM or another payment gateway to fund the Business Pocket.

Now let’s get familiar with some of CRM.COM Wallet’s key terms and features.

Multi-Pocket Wallet

The CRM.COM Wallet always contains up to three separate ledgers (“pockets”). Each pocket records balances and transactions separately, but can interact through defined rules (e.g., Commerce balances can “redeem” into the Business pocket once commerce pool conditions are met).

• Cash Pocket that allows contacts to keep an open tender balance and easily spend or topup via the CRM.COM payment gateway.

• Business Pocket with open money to spend at the business, using your business’s preferred local payment gateway.

• Commerce Pocket with commerce money, typically awarded as part of a reward offer and can be either manually redeemed or auto-redeemed.

Wallet Code

A 16-digit number that uniquely identifies the wallet and is accepted by every Business registered on the COM.COM platform.

Wallet Identity

The contact’s email or phone number is their wallet’s identity. The identity is used to link the wallet (when applicable) when registering to a new business after verifying it using a one-time password (OTP).

Commerce Pool

A set of conditions (product, time, place) with a balance that is carried inside the Commerce pocket. Typically created as part of a reward offer and activated and spent when its conditions are met at the point of purchase. Can also be used for innovative business models such as providing benefits to employees or cross-business awards (B2B Commerce Pools).

Redeeming to the Business Pocket

Redeem is the process that evaluates a purchase’s information against the spending criteria of the Commerce Pocket and once met, it moves that commerce money to the Business Pocket, allowing contacts to either spend freely or perform a payout.

Payouts

Payouts transfers money from the Business Pocket to either the Contact’s preferred payment method or to their Cash Pocket. This may occur in two cases:

• Automatic Payouts – In case a Business enables it, commerce pool redemption triggers a payout from the Business Pocket to the Cash Pocket.

• Manual Payouts – Initiated by Contacts through the front-end to manually transfer money to their preferred payment method.

Wallet Journal Entries

Every transaction involving the CRM.COM Wallet automatically generates a journal entry, which either debits (withdraws funds) or credits (adds funds) to the wallet for an amount. The wallet’s journal entries are included in the Contact’s Statement. See Financial Events for further information.

Payment Methods

The CRM.COM Wallet is a contact’s primary payment method. Through the front-end, contacts add their wallet’s funding sources, i.e. the payment methods (such as bank cards) that will be used to add money to the wallet through manual or automatic Top-ups.

Managing Wallets

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

A back-end system user can perform several Wallet-related actions onbehalf of the contact.

Create CRM.COM Wallet

Contacts typically create or link their CRM.COM Wallet when they self-register to a business. Back-end users can also manage wallets either on creating a new contact or managing an existing contact:

• Create the wallet - Create the contact’s wallet and provide its identity (either email or phone) that can be used to link their wallet when registering to other businesses.

• Link the wallet - Contact already has a wallet, back-end user requests for a one-time password to be sent to the contact’s email or phone (the wallet’s identity) to verify and do the linking.

Wallet Actions

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

View Balance Breakdown

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

Redeem Pass

Redeem a Pass to credit the contact’s CRM.COM Wallet by entering its code and, if supported, the pass’s PIN as well. Through this action you can only redeem Gift or Top-up passes on-behalf of the contact.

Change Wallet Limits

Wallet Limits allow contacts to set up restrictions on the number and/or the monetary value of wallet transactions, such as maximum number or amounts of their Top-ups within a period, giving them thus full control over their wallet. Multiple rules can be set up, as long as they do not refer to the same wallet transactions.

Set Auto Top-up Rules

Auto top-up rules automatically top-up a contact's CRM.COM Wallet once its balance reaches the minimum threshold amount. The wallet is topped-up using the funding source, and for a fixed amount, specified by the contact. This ensures that the wallet has enough money to cover expenses at any point in time.

Set Termed Top-up Rules

Termed Top-up rules trigger the automatic wallet top-up on a regular basis, irrespective of its balance. The scheduled top-up can occur daily, weekly or monthly for a fixed amount of money using the one of the wallet’s payment methods.

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 four options here, which can affect the CRM.COM Wallet balance - Journal Entry, Payout, Top-up Money and Transfer Money.

Journal Entry

Create a manual journal entry to debit or credit a contact's CRM.COM Wallet. When crediting the wallet, you can optionally select a Commerce Pool in order to credit the Commerce Pocket.

Payout

Transfer money from the CRM.COM Wallet to one of the contact’s payment methods. Payouts are available only if you are using the CRM.COM Wallet gateway or any another payment gateway that supports payouts.

Top-up Money

Top-up the contact's CRM.COM Wallet using one of its payment methods. Optionally, select a Commerce Pool to credit the Commerce Pocket.

Transfer Money

Transfer money from a Contact's CRM.COM Wallet to their Account or to any other contact’s wallet/account. When transferring from the CRM.COM Wallet then only Business Pocket money can be transferred.

Statement

The Statement option displays all Account and CRM.COM Wallet transactions for the selected period, along with opening and closing balances fro each one. The Statement can be exported, sent via email or printed.

Activity Feed

The Activity Feed provides a log of all activities (or events) performed by and for the selected contacts. You can filter these activities based on their type and view CRM.COM Wallet-related actions.

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 search for specific transactions, then click on an event to see more information, alternatively click on the transaction number to see the actual transaction details.

Refer to the Financials manual for more information on financial actions.

Finance Settings

Navigating to Settings > Financials > Wallets allows you to configure Wallet settings (subject to user permissions).

Auto Top-up

Enable automatic Top-ups for all of your contacts when they are using the CRM.COM Wallet as a payment method when placing orders or paying off their subscription fees. When enabled and the wallet doesn’t have enough funds to cover the charge, then the wallet is automatically topped-up with the remaining required amount using the primary payment method of the wallet.

CRM.COM Wallet Limits

Wallet Limits can be set to restrict the number and/or monetary value of Wallet transactions for all, or specific set of Contacts. Wallet Limits are set up in your business’s base currency and exchange rates are applied if the wallet uses another one of your enabled currencies.

CRM.COM Wallet Fees

Wallet Fees are used to apply a fees when performing various Wallet-related transactions for example, whenever contacts perform a Payout to their bank account. Wallet fees can be configured for top-up, transfer, credit, and debit actions. In cases of transfers, the destination Wallet is charged the fee.

CRM.COM Wallet as a Payment Method

If a Business wants to allow contacts to make payments using their CRM.COM Wallet, then it must to be activated as a payment method via Settings > Financials > Financials > Payment Methods.

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

Integrations

Payment Methods

Payment Methods