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Understanding Wallets

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What does this section cover?

What are Wallets ?

A wallet is an account which holds an amount of money that can be used to fund transactions within CRM.COM Software. A wallet is used as a mini ledger that can easily be topped up by various payment events or spent by a CRM.COM functions such as a prepaid subscription. Wallets can be managed through wallet specific processes which can create update or cancel wallets or generate wallet transactions that credit, debit or refund amounts in wallets.

Wallets  Glossary

TermsDescriptions

Wallet Balance

The amount of money which are available in a wallet and can be used to carry out transactions within CRM.COM. In more technical terms the balance is the credits less the debits

Wallet Identifier

A value that uniquely identifies the wallet. It can be a direct identifier like the wallet id or wallet number or an indirect identifier like the related account receivable’s id or number

Wallet Allotments

Wallet allotments are used to identify restrictions on how the wallet available amount, generated by wallet credit transactions, can be consumed

Wallet Credit Transaction

A wallet debit transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) from the wallet. The entity (i.e. specific product) and entity value (amount consumed by the specific product) can be optionally specified, in order to be validated against any allotment amount and therefore use that allotment amount 
If the Debit Transaction is to be created automatically then this will be defined in the Wallet Definitions - Debiting Causes 

Wallet Debit Transaction

A wallet debit transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) from the wallet. The entity (i.e. specific product) and entity value (amount consumed by the specific product) can be optionally specified, in order to be validated against any allotment amount and therefore use that allotment amount 
If the Debit Transaction is to be created automatically then this will be defined in the Wallet Definitions - Debiting Causes 

Wallet Reimburse Transaction

A wallet reimburse transaction is a type of wallet transaction which is used to debit (i.e. deduct an amount of money) the wallet, in order to pay back an amount of money, or to use that amount in any other processes (for example to convert the wallet remaining amount into a credit financial transaction which will be allocated against the Financial Account belonging to the wallet holder, which can either be paid back to the customer or not) 
If the Reimburse Transaction is to be created automatically then this will be defined in the Wallet Definitions - Reimburse Causes 

Wallet Reimburse Transaction

A wallet void transaction is a type of wallet transaction which is used to cancel (reverse) a wallet transaction of any type (credit, debit, reimburse) and make it non-visible to the wallet holder. A wallet void transaction is always related to the wallet transaction that it voids.
If the Reimburse Transaction is to be created automatically then this will be defined in the Wallet Definitions - Void Causes

Wallets  Key Processes and Concepts

Processes / ConceptDescription
Categorising Wallet Balance based on Conditions 
Wallet Balance Estimations 

Wallets  Network Characteristics

Network Characteristics define the level of access for each record. i.e. Whether it will be available for selection, for viewing or editing etc.

EntityNetwork Characteristics
Wallets
Wallet Transactions
  • Controlled Selection Entities

 

Wallets  Related Modules

Interaction EntityHow
Accounts ReceivableWallets owned by Accounts receivable
Wallet TransactionsWallet Transactions allocated against Wallets

 

Wallets  - Business Examples

The following section provides business examples to help you understand how CRM.COM Wallets  module is used.

Calculation of wallet estimated consumption for prepaid subscriptions

Calculation of wallet estimated consumption for prepaid subscriptions

Business Requirement

Company ZX provides its customers with Prepaid Subscriptions. This means that the customers pay up front for the services that they would like to be viewing. Once the amount they have paid is out then the services are automatically disconnected. The credited amount can be allotted on specific products that they have on their subscription. Customers often call in order to find out how much money is left in their account and when their subscription will be disconnected.

Case 1

Customer has paid 300 and he has 2 products on his subscription. Sports HD and Kids HD. Customer is subscribed to normal Price Plan with the following prices:

Kids HD: 20 per month

Sports HD: 30 per month

CRM.COM Solution

Customers with Prepaid Subscriptions will have both an Accounts Receivable as well as a Wallet. The wallet will hold the amount of money that the customer has paid upfront in order to use it for his prepaid subscription.

  • Once the background process is executed the following information will be populated. 
    Current Date: 01.06 

    Wallet

    • Estimated Consumption Days:6 months
    • Estimated Consumption Date: 01.12
    • Estimated Consumption As of Date: 01.06
    • Balance: 300

    Per Product

    • Sports HD
      • Estimated Consumption Days:  
      • Estimated Consumption Date: 01.12
      • Estimated Consumption As of Date: 01.06
    • Kids HD
      • Estimated Consumption Days:
      • Estimated Consumption Date: 01.12
      • Estimated Consumption As of Date: 01.06

 

More Information on Calculation of wallet estimated consumption can be found at: Calculating Wallet Estimated Consumption

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