Features of E-Wallet
In eCommerce, wallet can be used for online transfer and online payments.
Wallet is more secure as information will be encrypted by code, which will be private. Also wallet increases the security of transactions since the wallet does not pass payment card details in every transactions.
Wallet can be loaded through credit card, debit card , wired bank transfer and cash, so it will be helpful for the customers.
Customer can transfer amount from one wallet to another wallet.
It’s very important for B2B that wallet system have feature of credit limit.
All payment transactions by a wallet will be logged. Whenever a transaction takes place the wallet amount is adjusted.
Use of Wallet eliminate the risks associated with cash handling.
Customer can have balance inquiry and statement of account report.
Admin can also add cash in customer’s wallet as a refund or cashback.
Email notifications are sent for each transaction.Customers and Owners both can see the details of the transaction.
- Customer can see Used and Remaining wallet amount.
- Admin can set maximum and minimum value for the wallet.
- Also the customer can receive monthly statement via mail.
- Admin can set cash back rules in terms of cart as well as product.
- Admin can set the maximum value that can be added into a wallet.
- Admin can directly refund the money by creating a credit memo if payment is done via the wallet.