Using the extension, Store Credit & Refund, online stores can launch their own Store Credit program. This extension assists the store in solving a few very important tasks.

It is widely known that it is much harder to attract new customers than keep them. As a rule, a store undergoes losses if customers make a refund. Extension Store Credit & Refund allows you to convert returns into new purchases. You can deposit money into the customer's account in your store instead of returning it, and the customer will be able to use it for the future purchases.

Here everybody wins in the following way:

• The customer is saving money as they do not need to issue different payments for each transaction.

  The customer doesn't need to wait until his money will be deposited back into their account, they can instantly use these means for further purchases.

• The store now has one satisfied customer, which will surely come back to make another purchase.

  The store is saving money on different payments per transaction.

  The store is saving employees time, which would be spent processing the refund operations.

It is also very convenient to use a module during the exchange of different types of products in the even that their prices do not coincide.

If product is substituted with a cheaper model, than the price difference is reflected on the customer's balance.

If a product is substituted with a more expensive model, then the customer deposits money to their account, and afterwards it can be used for an exchange.

It is also possible to simplify and speed up the return/exchange process of a product even more by means of integrating our RMA module here.

Extension Store Credit & Refund can be used to increase loyalty of your customers. You can deposit small sums in their account so that they can use these means for future purchases. In such a way, this extension can stimulate your sales.

Features for a customer

• It is possible to pay for any purchase using the balance, including the taxes and shipping fees.

• It is possible to check the list of all the transactions and credit balance status in the customer's account.

• The customer receives email notifications regarding the balance change.

Features for an administrator

• Possibility of adding transaction for the user.

• Possibility of viewing balance/transactions in the user's card.

• Possibility of turning on the notification of a balance change.

• It is possible to use credit during creation of the order in the administrator panel.

• It is possible to increase the credit during creation of the credit memo in the administrator panel.