Store Credit & Refund

Store Credit & Refund

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

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

Here everybody wins in the following way:

• Customer is saving money as he doesn't need to issue different payments per transaction.
  Customer doesn't need to wait until his money will be deposited back to his account, he can instantly use these means for further purchases.
• Store has now one satisfied customer, which will surely come back to make another buying.
  Store is saving money on different payments per transaction. Store is saving time of the employees, which they spend to process the refund operations.

It is also very convenient to use module during exchange of the products of different types in case, if their prices do not coincide.

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

If product is substituted with the more expensive model, then customer deposits money to his account, and afterwards they are used for exchange.

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

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