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.

Subsequently, the Wallet Open balance consists of two types of balances - the CRM.COM Open Balance and the Business Open Balance. The respective balance is credited according to whether the Business or the CRM.COM payment gateway account was used for the crediting action.

• CRM.COM Open Balance ROADMAPPED

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.

• Business Open Balance

A Wallet can have multiple Business Open balances, one for each Business the contact has signed up to. Open Business balances can only be spent at the Business or selectively at other Businesses if B2B spending rules are set up. B2B spend rules are based on configuration whereby the Open balance of one Business can be spent at one or more other Businesses. ROADMAPPED A Business Open balance can be increased when a contact is awarded by an offer for a purchase at a specific Business or when redeeming a pass.

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.

Business Commerce balance

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.

Redeeming to the Open Balance

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.

Wallet Identity

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.

Base Currency ROADMAPPED

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 base currency of a Wallet cannot be changed, but each Wallet journal entry carries its own currency, i.e. the currency it was performed in.

Payment Methods

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.

Journal Entries

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.

Commerce Pool Conditions

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

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

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.

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 Wallet balance - Journal Entry, Top-up Money and Transfer Money.

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).

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.

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.

Wallet Actions

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.

View Balance Breakdown

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

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.

Set Auto Top-up Rules

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.

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

Set Termed Top-up Rules

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.

Activity Feed

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.

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.

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.

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.

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.

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.

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

Commerce Pools

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:

• Reward offers

• Transfer of funds action

• Top-up action

• Pass Plan configuration and, subsequently, redeeming a pass

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

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

• 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.

A predefined Commerce Pool condition, 'Spend Anywhere within a year', is automatically created whenever a new Business is created.

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

• Ability to set up Payment Gateways at Cloud Operator

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

Payment Methods

Payment Methods