Overview 

A wallet is an account used by customers within CRM.COM to fund prepaid subscriptions and rewards.

Major features

• Wallets are managed through processes which can create, update or cancel wallets manually or automatically.
• 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

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.

Definitions

Wallets definitions are business rules which are used to control the behavior of wallets throughout their life cycle.  There can only be one active definition at a time.

Definition fields

The table describes the sections of the Wallet Definition Data Entry page and explains how the fields in 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 cancelled when an accounts receivable is terminated. Optionally, define whether a wallet should be cancelled when it is no longer associated with a prepaid subscription and/or rewards participant. This can happen when: the prepaid subscription is terminated an accounts receivable associated with the subscription is replaced the rewards participant is terminated.
Debit Wallets	Wallets are debited when: prepaid billing runs charge for subscriber services spend transactions charge for redeemed awards wallet balance expiration runs deduct expired awards.   For each case, it is possible to define a debit wallet transaction type other than the default.
Credit Wallets	Wallets are credited when: Payments are posted to the account. Specific payment types can be defined to credit a wallet.  E.g., voucher payments can be used to credit the wallet exclusively Credit notes are posted to the account. Specific credit note types can be defined to credit wallets.   Award transactions result from rewards. Prepaid billing runs make refunds (e.g., for subscription services that were charged by error or were regretted by the customer).   For each case, it is possible to define a credit wallet transaction type other than the default.
Reimburse Wallets	When a wallet is cancelled its balance is returned to the wallet's associated accounts receivable (the funds are preserved).   The accounts receivable is reimbursed: When the wallet is cancelled through the cancel wallet action The accounts receivable is disconnected from a prepaid subscription (see Cancel Wallets causes). 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: An award transaction is cancelled, debiting the wallet in the process A spend transaction is cancelled, crediting the wallet in the process An award expiration transaction is cancelled, crediting the wallet in the process Payments are cancelled, debiting the wallet in the process 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).
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 type and 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. Cancel Related Invoices:  Invoices related to voided wallet transactions are cancelled through defined invoice cancellation types. A credit wallet transaction type can be defined as the trigger. Debit the Related Accounts Receivable: When a wallet reimburse transaction addressing a credit note is voided, an invoice is created instead, using debit financial transaction types.  A reimburse wallet transaction type can be defined as the trigger.
Auto Top Up Rules Automatic top up process requires additional configuration in payment gateways
Define the following parameters for each rule: Balance Threshold: The level that triggers the crediting of the wallet. Frequency (in days): How often should the wallet  be considered for top-up Top Up Amount: The amount that the wallet is credited through an automatic top-up.
Applicable Classification	Define the account receivable classifications to which the top-up rule is applied (a specific classification or 'all' can be selected).  Each classification can be added in only one rule.

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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 in the page are used.

 Mandatory   Configurable

Related configuration areas

The following modules are related to Wallets and may be configured for the Wallets module to operate at its full capacity.

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Using Wallets and Wallet Transactions

Wallet fields

 The table describes the sections of the Wallets Data Entry page and explains how the fields in the page are used.

 Mandatory   Configurable

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Wallet transaction fields

There are different sections for each type of wallet transaction (debit, credit, void, reimburse), depending on its classification.

The table describes the sections of the Wallet Transactions Data Entry page and explains how the fields in the page are used.

 Mandatory   Configurable

Main Information		Available for wallet transaction type
Type	Depends on the classification of a transaction and determines its result. The available transactions classifications are: Credit Debit Reimburse Void Transfer	All
Wallet	The source of the transaction.	All
To Wallet	The destination of the funds.	Wallet Transfer
Amount	The value of the transaction.	All
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.	Wallet Credit
Voided by	The number of the transaction that voided a debit, credit or reimburse transaction. Voiding a transaction cancels it without affecting wallet balance.	Wallet Void
Life Cycle State	Transactions in an 'Effective' state are taken into consideration when calculating the balance of the wallet. Transactions in a 'Voided' state are ignored.	All
Expiration Date	The day on which wallet funds expire, used by the 'Wallet Balance Expiration Run' to debit unspent amounts.	Wallet Credit and Transfer
Allotments		Wallet Credit and Debit (For Wallet Debit informative only)
Wallet transaction allotments restrict how funds resulting from credit transactions can be spent. Allotment Amount Validity Date: The day from which the allotment amount is available. Set through a rewards award transaction or manually. Number of conditions: how many conditions apply.  E.g., if the allotment amount can be spent on a specific product and on a specific day of the week, the number is '2'. Product Conditions: the product, product type or product family on which the funds can be spent. Unit Conditions:  the unit or group on which the funds can be spent. Day Conditions: the days of the week on which the funds can be spent. Time Conditions: the period during which allotted funds can be spent.
Products
The products associated with the wallet debit or credit.  Multiple products can be specified on each wallet transaction.		Wallet Credit and Debit
Log Information
Details of the process that created the transaction.		All

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Creating and processing wallets

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 which is not already associated to a wallet is added on a prepaid subscription or rewards participant.

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.

Cancelling a wallet

Wallets are cancelled (instead of deleted) so that their information is retained.  Wallets are cancelled manually or automatically.

To manually cancel a wallet from the Data Entry page use CANCEL in the Actions menu.

A wallet is cancelled 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

Funding a wallet

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 Transaction from the Actions menu 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.

Executing a prepaid billing run

Prepaid subscription services are billed through the prepaid billing run.  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. 

Cancelling 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).

Cancelling an expiration transaction - Voiding

Funds earned through awards which 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).

Spending or deducting money from the wallet

Wallets in CRM.COM are mostly used to pay for prepaid subscriptions and to redeem awards.

Funds can be deducted from the wallet by creating debit wallet transactions.

Select NEW from the wallet transaction Data Entry page or Debit Wallet Transaction from the Actions menu 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.

Cancelling a payment - Voiding

If a payment made to the account (resulting in a credit wallet transaction) is cancelled, the respective wallet funds are deducted from the wallet by voiding the transaction.

Cancelling an award transaction - Voiding

If an award is cancelled (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 which remove the expired amounts from the wallet.

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.

Cancelling a wallet

When a wallet is cancelled, 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 Transaction from the Actions menu 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 to 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.

Transferring money between wallets

Funds can be transferred from one wallet to another by creating a NEW transfer wallet transaction from the wallet transactions Summary page or by using the Transfer Wallet Transaction action available in the Data Entry page of the source wallet.

When transferring funds three transactions are created:

• Wallet transfer transaction
• Debit wallet transaction (debits the source wallet)
• Credit wallet transaction (credits destination 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.

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Applying business flows on wallets

Expiring wallet balance

Wallet funds can expire, especially if earned through reward offers (awards).  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.  It is recommended that wallet balance expiration runs are executed on a daily basis.

Wallet balance expiration runs fields

Setting up the expiration process

Access the Wallet Balance Expiration Run Definition and create a NEW definition, providing the required information. SAVE and click SUBMIT to send the job to the scheduler for immediate or future execution. 

Once a recurring job is executed, its next instance is scheduled according to its frequency settings.

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 and is used for awards from reward offers and for allotments.

It is possible to view the balance that will be available once the funds become valid.  Use View Future Balance from the Actions menu of the wallet's Data Entry page and enter the date for which you want to see the balance.

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).

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 and how you can create wallets lists, refer to Segmentation.

Printouts

A printout displays all wallet transactions which have taken place in the current year, the balance of the wallet to date and the balance carried over from the previous year. It is available through the wallets Data Entry page in one of the following formats: HTML, XLS, CSV, RTF and PDF.

Refer to Printouts for information on how they can be created, printed and sent.

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Wallets Business Examples