How to Configure and Use Magento Store Credits
Magento Enterprise comes with prominent functional capabilities that help merchants fuel their business and increase site performance. It delivers innovative features designed to enhance data management and efficiently organize store handling tasks.
When enumerating enterprise features, you can’t but mention Magento store credits. This very Magento speciality we are going to outline below in this article.
What Are Store Credits?
Evidently, your business success greatly depends on your customers, so you are constantly trying to attract new shoppers, win their loyalty and inspire them to leave and order at your store. These are the tasks of high priority and store credits have been designed to help entrepreneurs cope with them efficiently.
Store credits are actually rechargeable credit accounts, customers can use buying any product or service at your site. This is so-called payment method, when virtual money is available on customer’s account to make instant purchase.
Magento store credit balance can be created by store owners, like reward or incentive. Orders can be refunded and instead of refunding by money, store owners can just add credit to customer account directly. Another method to replenish store credit is to redeem gift card and transfer it to client store credit balance. Let’s have a close look at each of these methods.
Manually Updating Store Credit Balance
As it has been mentioned above, entrepreneurs can reward some customers and keep them coming to their stores again and again. For that very reason, merchants can update store credit balance for this or that shopper anytime they want, simply editing their customer profiles.
- Hover over Customers->Manage Customers and select desired client from the list
- Enable customer editing
- Switch to “Store Credit” tab of the left-side menu. Here you can see store credit history, if credits were added or updated. In corresponding “Update Balance” field you can modify current store credit balance. You can enable customer notifying, once balance has been changed, leave the comment and assign the store credit for certain store view.
- Save the changes and they will immediately appear below in Balance History section
Order can be optionally returned to store credits when processing refunds through credit memo.
- Go to necessary order and click on it to start editing.
- Click on “Credit Memo” option on the toolbar to start the refund process by generating credit memo
- Scroll down the page to “Refund Totals” section marked by yellow. Below in this field you will find “Refund to Store Credit” box. Check it to transfer order amount to store credit.
At a later time this customer will come to your site to complete another purchase.
Redeeming Magento Gift Cards
Customers can redeem their gift cards and receive store credits that, in their turn, can be used for future purchases. When shoppers log in their accounts, they can switch to Gift Cart tab there and paste card code in corresponding field to check its status and balance or redeem to store credit.
How to Pay with Store Credits?
Store credit is kept at the customer account level and might be used during the checkout process. When selecting the payment method, a customer can enable “Use Store Credit” option. Store credit balance will be charged to pay off the order.
Store Manager for Magento Enterprise Edition supports this functionality, allows to update credits and view the history.
It is being accomplished in Customers section of Store Manager. Select necessary customer from the list and switch to “Store Credit” tab of the lower grid. In case some manipulations have been already made to store credit, the changes will be kept in history. If you need to update the balance, resort to respective option
In conclusion it should be said, that store credit is a convenient way to accumulate funds and convert gift card or refund to positive balance, what is an efficient payment method for online merchant as well as for shoppers.