YITH WooCommerce Account Funds v2.16.0
YITH WooCommerce Account Funds is a solution for building an internal “e-wallet” system for WooCommerce websites. This plugin allows customers to pre-fund their accounts and gradually reduce the balance as they shop, helping to create a fast checkout process and retain loyal customers.
Key Features
- Flexible Top-up System: Customers can top up any amount or choose from pre-set top-up amounts (e.g., $10, $20, $50) using available payment gateways on the website.
- Payment Example: Added a new payment method “Account Balance” on the Payments page. Customers can simply select this method to pay immediately if their wallet balance is sufficient.
- Partial Payment: If the wallet balance is insufficient for the entire order, customers can use the remaining amount and pay the rest using other payment gateways (such as Stripe, PayPal, COD).
- Automatic Refunds: Integrated direct refunds to the account wallet instead of cash refunds, ensuring funds are always held within your system.
- Transaction Statistics: Provides customers with detailed statistics on the “My Account” page to track all balance variables (Top-ups, Purchases, Refunds).
Revenue Strategy
- Deposit Discounts: Offer discounts on the total order (e.g., 5% off the total order) or provide additional bonuses when customers pay with their wallet balance to encourage them to deposit in advance.
- Automatic Email Reminders: The system automatically sends email notifications when the customer’s account balance falls below the minimum, offering additional funds.
- Better Cash Flow Management: Businesses receive cash upfront from customers, creating a more dynamic savings stream before products or services are delivered or delivered.
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