In the era of growing eCommerce businesses, customers are still worried about entering credit card details unless a store owner can prove that the checkout process is safe and secure. What makes a successful online checkout? Developing a store credit line is one of the key factors that will let your customers purchase goods without doubts and worries by entering credit card credentials.
The Credit Line extension for Magento 2 is a good way to provide customers with a credit line balance and update it once the balance is over. The customers can purchase products and services up to your approved limit without any hassle.
Find out why adding a credit line to your store is a good idea:
Flexible Payment Options
By default on Magento, consumers can pay their products by using credit cards. The extension adds a credit line payment gateway and provides your customers with credit line balance. This balance can be applied automatically or manually in the shopping cart or checkout. Once a customer with positive credit line adds a product to cart, there is no need to enter sensitive information like credit cards to buy the product.
Instantly alert your customers about transactions within the extension functionality. When the customer’s balance is about to end, the user will receive an email notifying of necessary payment.
To automate this process, the admin can send monthly invoices to customers. With payment notifications, your customers will always stay updated on their balance.
What if the customer doesn’t pay for balance? If customers’ credit line is 0, the credit line payment option will be hidden immediately.
All users receive a unique Dashboard where they can easily top up their balance in exchange for real money, as well as check previous transactions. All the transactions can be found within one account page with credit line details. The admin can track the transaction history in a separate section from the Backend as well.
Limit Store Credit and Manage Transactions
Do you want to set a store limit to $1000? The admin can easily define limits globally or even per customer in the Backend. Example: if you need only wholesalers to use credit line, specify the customer groups in the Backend with one click only. Moreover, the admin can track all the transactions made by the customers including topping up balance, completing orders using balance, and much more.
Once the customer asks for canceling an order and the balance has been used for the purchase, the amount will be automatically reinstated after canceling.