Store Credit & Refund for Magento 2
In traditional physical stores, customers can purchase products without paying anything and settle their accounts by paying the entire amount due all at once at the end of the month. This kind of traditional payment method offers versatile and convenient transactions. When you integrate such a system into your online store, your average order value and sales can rise.
Our Store Credit and Refund Magento 2 extension allows you to give a store credit to the customer instead of a refund. This Keeps the hard-earned money in your store, increases customer satisfaction, and reduces customer disappointment.
Why Magento 2 store credit is Recommended?
Some might be surprised at how popular store credit is used, particularly for refunds in e-commercial retail. There are even a few stores that state, "No Cash Refund." Only exchange or store credit is accepted!
- Keep money in your pocket: - Turn refunds into new sales.
Whenever a reasonable customer requests a refund, you must pay them back. A cash refund hurts your revenue, and customers might get their money and turn to other brands. A refund of store credit made sense at that point. Clients have no choice but to come back and place further orders.
Magento 2 Store Credit, hence, acts as an effective tool for performing a loyalty program!
- Make the refund process quick: "Time is Money!"
Receiving a refund is never pleasant for the buyer or the merchant. This process takes a while, and time is money.
Meantime, the customer must wait for their money back and sometimes pay the transaction fee.
Using Store Credit in Magento 2 minimizes time and effort as much as possible.
Features of store credit and refund for Magneto 2
- Store Credit and Refund Features
- The admin can add or remove the store credit balance from the customer account.
- If store credit is added or removed from a customer's account, they will receive a notification through email.
- If the available store credit balance is used to place the order, customers will be informed.
- If the store credit balance was used to place the order and it is cancelled, the customer's account will be credited with the applied store credit balance.
- Customers will be notified if the order placed using the store credit balance is cancelled.
- Store credit can be applied to shipping and taxes by customers.
- If a credit memo is made for the order, customers might consent to an automated refund of store credit.
- When writing the credit memo, customers have the option to enter the shop credit amount to receive a refund manually.
- Consumers can use their account dashboard to view the balance of their outstanding store credit.
- On the customer dashboard, every action made about the shop credit amount will be shown in detail. Customers can also keep track of the activity regarding their store credit balance.
- In the corresponding customer account, the administrator can monitor the activity on the client's store credit.
- On the checkout page, customers can apply or cancel the chosen store credit.
- In order emails, store credit will appear.
- Using the order details, the admin can verify store credit.
Detailed Features of Magento 2 Refund Request Extension:
- Make Refund Applicable for Specific Days After a Purchase:
You wouldn't want customers to claim a refund a month after they purchase an item. Obviously, there should be a time limit within which they can ask for a refund.
The extension allows you to specify the days from the order date for which the refund will be applicable. After these days are over, the 'Refund Request' option will no longer be available.
- Allow Customers to Submit Request Via a Popup Form
Attach as many files as you need. If you have multiple attachments of different natures, you can display them on a dedicated page. Properly organize your files by putting them in relevant categories in the form of folders and subfolders.
- Notify Admin & Customer on New Refund Requests
The admin must be notified of each new request so that they can act. The customer should also know whether his claim has been submitted and accepted.
To implement this functionality, you must enable the email notification option and provide the admin email address. Whenever a new request is submitted, an email will be delivered to the admin at the provided address. The customer will receive a notification at the email address he used while opening the account.
- Manage Requests Easily
It's easy to manage claims, even if they are significant. A handy grid displays all the refund claims, and the admin can accept or reject a particular request with a single click. He can also delete or reject requests in bulk.
Conclusion:
The store Credit module improves how you interact with customers through virtual credits. Customers can spend credits to check an order or get refund credits. Furthermore, buyers can earn, purchase, and share credits by choosing their values. Refund request extension for Magento 2 makes handling refunds more accessible for customers and store owners. Customers can request a refund through their account within a time frame after purchasing.
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