Store Credit & Refunds

Easily revamp returns into sales by offering store credits as a refund option using the Store Credit and Refunds extension for Magento 2. Boost customer lifetime value, prompt repeat purchases and lure customers with our Refund Order extension!

What Refund extension for Magento 2 do?

• Transform returns into revenue.
• Provide refunds in the form of store credits.
• Offer store credits based on past purchases or customer groups. 
• Manage store credits easily from the backend.

Store Credit & Refunds extension for Magento 2 facilitates streamlining refund processes, incentivizing purchases, and establishing long-term relationships, hence increasing sales and customer retention.

What is Store Credit and Refunds M2 Extension?

Sometimes, it may happen that the customers might be unhappy with the products they purchase. There might be several reasons like quality issues, incorrect product received, unsatisfactory appearance, or change of mind. Customers are likely to request a return and get a refund. One of the effective ways to do so is to leverage the Store Credit & Refunds extension for Magento 2 that converts refunds into store credits. 

Store Credit extension for Magento 2 encourages shoppers to utilize their store credit amount for future purchases and get their most favored items at competitive prices. As a result, the store owner may not be required to return the refunds and thus, accomplish a win-win situation for store owners and customers. 

What can the Store Admin do with Store Credit & Refunds for Magento 2 Extension?

The Magento 2 store admin can carry out multiple actions and handle the refund process at ease. Let’s have a glimpse at some of them!

• Issue Store Credits: Admin can offer store credit to customers in the form of additional compensation or for promotional purposes. Drive repeat purchases and build loyalty by offering such credit options.
• Manage Store Credit Balance: Easily add, subtract, or adjust store credit balance from the backend as per the requirements. 
• Track Store Credit Transactions: Admin can track and view complete store credit transactions like credits issued, used, refunded, or expired for an individual customer, hence providing transparency.
• Customize Store Credit Options: The admin can customize store credit options based on customer groups or purchase history. He/she can set maximum credit values and offer fixed or percentage-based refunds.
• Refund Orders with Store Credits: Admins can process refunds using store credits instead of cash, thus encouraging customers to stay connected for long enough and make a purchase later. 
• Store Credit on Specific Products: Using the Refund extension for Magento 2, the admin can apply store credit options on certain products as a part of targeted promotions, or to clear inventory. 

Features

• Maximum Credit Value at a Time

Milople’s Refund Order extension for M2 allows customers to spend a specific store credit value at a time from their available balance. He/she can utilize the remaining amount while purchasing products later from the store itself. As a result, lure customers and encourage them to purchase. 

• Buy Products at Best Price

Store Credit in Magento 2 extension allows customers to get store credit either as a fixed amount or a percentage of the order total. However, customers are likely to make a purchase as they can get a product at low prices, thus utilizing their store credits. 

• Based on Customer Groups & Purchase History

Store Credits may vary depending on the customer groups or purchase history. For instance, admin may offer more credit points to wholesalers than retailers. Additionally, the admin can even provide credits for new customer registration or else to their loyal customers. 

• Add/Subtract Store Credit Easily 

Store Credit and Refunds for Magento 2 extension allows admin to easily modify credit balance of the customers from the backend. However, the admin can add or subtract the credit balance as required. Besides, the admin can leave a comment for every store credit update to notify customers. 

• View Store Credit Balance on the Storefront

The customers can easily view the store credit balance in the header section, on the cart and checkout page. Offer convenience to choose virtual currency as a payment option and attract customers to make a purchase. 

• View Store Credit Transaction History

Refund Request M2 extension allows customers to have a detailed view of their transaction history. It will help determine how and when they spend the credits. On top of that, the customers can track the remaining store credits and analyze their proper usage. Here, the admin adds a comment to know more about the credits. 

• Apply Store Credits on the Cart & Checkout Page

Store Credit extension for M2 offers the flexibility to decide their usage of store credits. On the cart and checkout page, they can enter the amount they want to use for the purchase. Hence, increase the order total value and sales in your store using the Store Credit extension. 

Benefits of Store Credit & Refunds Extension for Magento 2

Let’s have a look at some of the top benefits of Store Credit for Magento 2 extension!

• Increased Customer Satisfaction

Store Credits act as an alternative to cash refunds. It offers high flexibility and convenience in managing the refund process. As a result, the module assists in improving customer satisfaction and strengthens the brand credibility.

• Simplified Refund Process

Store Credit and Refunds extension helps to smoothen the refund process, eliminating the manual efforts and reducing errors. The refunds are processed accurately, thus increasing efficiency and customer experience. 

• Convenient Payment Options

Customers can utilize store credits as a payment option for future purchases, offering advanced flexibility during the checkout process. Hence, it drives more repeat purchases and boosts the average order value. 

• Eliminates Return Rates

Unlike traditional refunds, Store Credit extension helps merchants to eliminate the return rates such as transaction fees, processing fees, etc. This aids in improving profitability and sustainability. 

• Increased Customer Experience

The extension has a simple and easy-to-use interface which helps boost the shopping experience for customers. The customers can keep track of store credit balance, view transaction history and use the credit points as required, leading to increased retention. 

Reasons to Choose Our Refund Order Extension for Magento 2

• Easy Customization: We offer advanced customization options that perfectly align with the requirements, thus maintaining a consistent brand identity. 
• Reliability: Milople is best known for delivering top-notch Magento 2 extensions that are highly reliable, well-maintained, and boost the performance of your store. 
• Feature-rich Module: The extension offers advanced features required for your eCommerce website as well as that help you stand out from the crowd. 
• Regular Updates: Our certified developers provide support and timely updates for the extensions, ensuring compatibility with the latest Magento versions.
• Cost-Effective: We ensure that we provide qualitative Magento 2 extensions at affordable rates with innovative features and functionalities.

Frequently Asked Questions

1. Is it possible for customers to use the store credits for future purchases?

Yes, the Store Credit and Refunds extension allows shoppers to use their store credits for future purchases. They can redeem the credit points on the cart page or checkout page, just like other payment methods.

2. Is it possible for the admin to manage the store credit balance?

The store admin has complete control to view, add, or subtract the store credit balance from the backend. Additionally, the admin can also leave a comment to notify the customers regarding the updates.

3. Can merchants set a limit to utilize the store credit spending at a time?

Absolutely yes! The merchants are allowed to set a maximum credit value that a customer can spend at a time. 

Visit Live Demo

• Backend - Modify configuration as per your requirements
• Frontend - Test the product by frontend facility

 If you have any questions about this extension, you can Contact Us, and we reply you back as soon as possible.  Drop us an email at magento@milople.com to get Hyva and Mage OS compatible package.