Store Credit & Refund for Magento 2
Convert returns into revenue by using store credits as a refund option. Keep money in the store when refunding and thank customers for shopping in your store with credit to build their loyalty.
- Increase sales giving users credits toward next purchases
- Keep funds in shop refunding orders with store credits
- Build loyalty awarding shoppers with extra credits
- Let users track store credit and refunds in their account
- Auto notify customers of any changes in their store credit balance via emails
Meet a new way to keep funds in store
It happens that customers might not like the goods they’ve purchased. Whether it was the wrong size they’ve picked or the color didn’t match their expectations, shoppers can ask for a refund. One way of lessening the impact of product returns on the profits is to keep money within the store.
How? Try the Store Credits and Refund extension, which offers a feature of Magento 2 Commerce — Store Credits. It is a virtual currency that allows merchants to handle returns without actually paying back real money. Customers will receive store credits that can be used towards their next purchase. It’s a win-win situation: you keep both customers and your profit margins happy.
Install key functionality for managing store credits
This extension has all the essential features you might need when managing store credits in the store. Ready to use upon install: set up email notifications with pre-made templates, and set suitable tax requirements that you need — now you are ready to go! Start by granting users some store credits to motivate sales as soon as you get the module to make it worth every penny invested.
B2B Magento 2 functionality now available for ‘Open Source’-based shops
important to their purchasing decision. The numbers are even more telling after a return is made, as an even higher percentage of customers are likely to shop with an online merchant again if the return process is convenient. With functionality that is similar to the Magento B2B Store Credits, you can refund orders to the virtual store currency instantly, avoiding all paperwork associated with returning actual cash, thus driving users to new purchases.
Boost sales offering store credits as bonus points
Apply Store Credits on Checkout Page
Let customers decide how many store credits they want to spend. On the checkout page, users can enter a precise number of credits to apply for each purchase. This way, shoppers will have the flexibility to spread credit applications into several purchases, thus growing the average order value and the total number of sales in your store.
Display clear explanation on discounts
Make sure that communication with customers is clear at all times. It is especially important when a visitor is almost ready to pay, as they need to know how much money they will be charged.
The Magento 2 Store Credits extension adds an extra row to the ‘Order Summary’ section to show the information of the discount that was given when the user applied store credits.
Let users see full store credits history
Our extension provides clients with detailed information on how and when they spent store credits. Shoppers can easily track their remaining store credits so that they know how much they can overpay for buying new goods in your store. Moreover, customers can also see the administrators’ comment that you’ve typed when adding store credits’ to their balance. You can display kind and personalized messages like ‘Happy Birthday to you from the StoreName team!’ to build customers’ loyalty.
Turn refunds into future sales
Refund to store credits in one click
With Store Credits, you can turn Magento 2 refunds into a new sales opportunity. When giving a refund to a user, you can:
- refund the exact amount the customer spent on the order;
- refund the order amount, and add some extra credits to establish a positive relationship with the shopper, in case any negative situation occurred with the order;
- refund only part of the order to store credit, e.g. you made a special agreement that the customer wants to return only one item and re-order it as the size was off.
To process any type of store credit refund, simply enter the needed amount of credits and click the ‘Refund’ button.
Use store credit to pay from the backend
With both community or enterprise Magento 2, Store Credit extension can help you to avoid online refunds and use a customer’s store credit to pay for their orders directly in the backend. Pay in full if the balance covers the order price. If the price is higher than the store credits available, deduce the credit and inform the customer about the amount they still have to pay.
Drive purchases by offering credits as a discount
A customer may contact your support to ask for some clarification on the product information. In case a customer is satisfied with the present offer, a manager can immediately place an order. In doing so, the manager can charge in-store credit off from the balance if the customer doesn’t mind. In case the customer thinks the price is too high, the manager can still retain them by offering some extra credits to reduce the price without complicating the accounting.
Manage customers’ store credits with ease
For admins, having a tool to conveniently manage customers’ store credits is a must-have requirement. Use Magento 2 Store Credit & Refund extension to add/deduce Store Credit in one click. Access Balance History of any customer to make swift changes. Track changes your admins made in the Action column. Prevent wrongful store credits operations by leaving comments that relay the context of why store credits were deducted or added, keeping both shop staff and the customer informed.
Send email notifications on store credits updates
The extension automatically sends email notifications on main events, which helps admins to save time. Customers are notified of each key operation with their store credits, e.g. an order was placed with store credits, an admin user refunded an order with credits, or added/deducted credits, etc. Users can unsubscribe from the notifications if they wish.
Use store credits as pre-payment currency
For B2B businesses, it's important to offer customers some way of adding a pre-paid balance to their accounts. Companies can wire an agreed amount of money in advance. Admin will add the same amount as a store credit. And later on, customers can spend their pre-payments on real purchases without having to worry about going over budget limits. The credit is kept in Base Currency. Currency conversion for each store view uses the same currency conversion rates as other price-related calculations.
HOW DOES MAGENTO 2 STORE CREDIT HELP TO BOOST SALES
- Increase customer loyalty. Charge store credit for each purchase and allow clients to use them as a discount.
- Boost repeated purchases. Motivate customers to return to the store and make new purchases with the help of the store credit tool.
- Retain unsatisfied customers. Refund money to customers as store credits and let them choose something else in the store.
How to manage offline refund requests in Magento 2?
- Go to Sales → Orders, find the needed order on the grid, and click View.
- Then, click Credit Memo at the top of the page.
- In the Items to Refund section, set how many items should be refunded and click Update Qty.
- Go to the Refund Totals section, and specify Refund Shipping, Adjustment Refund, and Adjustment Fee.
- Click Refund Offline.
How to make a refund with store credits?
After you get a Magento 2 refund request, you need to create a new credit memo.
- For this, go to Sales > Orders and find the needed order on the grid. Open it and click the Credit Memo button:
- After this, you can specify Qty to Refund and return items to stock.
- In the refund totals section, select the Refund to Store Credit checkbox and enter the amount you want to return offline.
- When ready, click the Refund Offline button.
How to set up the store credit for Magento 2?
Store credit functionality is available for Magento 2 Commerce users out-of-box.
- To enable it, go to Stores > Settings > Configuration.
- In the left panel, open the Customers tab and click Customer Configuration.
- Go to the Store Credit Options section and Enable Store Credit Functionality.
If you use Magento 2 Open Source edition, our Store Credit & Refund extension will help you provide customers with this feature.
Significantly boost repeat sales with a flexible rewarding programEmploy Magento 2 Loyalty Program extension to create a unique scheme to reward regular customers with exclusive discounts. Use flexible shopping cart rules to generate targeted offers and boost sales.
Equip your shop with powerful automation solutions
- 100% Open Source — Easy To Customize
- Follows Magento Code Architecture
- Separated HTML/CSS/JS
- Simple installation via Composer
Are you looking to add specific functionality for this extension or want to acquire a reliable development partner altogether? With custom development services by Amasty, you will receive high quality and cost-effective solutions developed by Magento professionals according to industry’s best practices.
2.3.6, 2.3.6-p1, 2.4.0-p1, 2.4.1, 2.4.1-p1, 2.4.2
- Improvement information about used store credit was added in order API
- Fix we solved the problem with refund store credits for multiple currencies
- Fix we solved a few problems with credit memo creating
- Fix we solved the problem with using store credit with PayPal payment method
- Fix we solved the problem with changing store credits from admin area
- Fix we solved the problem with store credit deduction if order wasn't placed
- Improvement now API include new method GetStoreCreditsByCustomerId
- Improvement now translations include Store Credit Balance phrase
- Improvement we added validation for "Add or substract a credit value" field on admin side
- Fix we solved the problem with incorrect prices after their updating on client side
- Fix we solved the problem with partial payment of order by store credits
- Fix we solved the problem with extension installing on Magento 2.2.2
- Fix we solved the problem with applying store credits for virtual products
- Fix we solved the issue with refunding store credits to customers after credit memo creating
- Fix issue with the refunded amount not being displayed in the Order Totals section was fixed.
- Fix we solved the problem with adding double store credit points on Google Chrome v. 75+
- Compatibility with 3-rd party extensions was enhanced