Plug-in: Smartstore Wallet - the ultimate wallet as a credit account

Besides the offer and price, the payment method is one of the most important elements that determine whether potential customers stay in your shop or leave it. It has been proven that people prefer to shop in stores that offer different payment options. One such method is the Smartstore Wallet.

Wallets, also known as virtual wallets, are a great way to conduct deposits and withdrawals in Smartstore shops securely and quickly. The advantage is that the processing time for returns over the Smartstore Wallet can be faster than with other payment methods.

Some people prefer cash on delivery, while others prefer to pay by card. Recently, the trend of paying with digital wallets has taken e-commerce by storm. The wallet function in e-commerce significantly contributes to the conversion rate of customers.

According to a recent survey, 110 million Americans admitted to using digital wallets. In a few years, their number increased by 75% as they admitted that it was increasingly convenient to pay with them rather than cash or card.

What is the function of the digital wallet?

The digital wallet or virtual wallet is a medium that allows customers to make online transactions for future use. The user's bank account and other login details are linked to the digital wallet, and thus the money is stored virtually for future use. Smartstore features the digital wallet function because it helps all parties involved in smoothly handling transactions. E-commerce companies either have their own virtual wallet feature or collaborate with e-commerce companies offering these types of services, e.g., Paypal, Stripe, Paytm, Rupay, etc.  

Why is the wallet needed in a Smartstore shop?

The amount is automatically deducted from the virtual wallet with every purchase in the shop. This one function has many advantages.

Fast payment: A lengthy checkout process is a hassle for any customer who has to choose a payment method during their purchase, and if the internet connection is poor, the situation worsens. It is a surefire way to an "abandoned cart," and as you know, an abandoned cart is one of the biggest enemies of online store operators. The e-wallet function is a savior in such times. Since the amount is automatically deducted from the wallet with each transaction, the consumer does not have to repeatedly enter their access data during every transaction. This complicated process is shortened, saving the customer's time.  

For customers, there are no issues with failed payments, and the merchant will see fewer abandoned carts. 

Pleasant shopping experience: The seamless payment method provides customers with a pleasant shopping experience on your website; furthermore, you certainly want your customers to visit your website more often for online shopping, leading to customer retention. Moreover, they can purchase items for a limited time or receive a discount because the checkout process is shortened. This leads to an increase in sales and is also beneficial in the long term.

With the wallet function for e-commerce websites, customers have more control over the payment method, as they do not have to worry about whether they can complete the purchase each time. Paying through the virtual wallet offers them the "On-The-Go" shopping experience. The feature is also compatible with mobile payments. It can be referred to as a mobile wallet.  

The new wallet system allows customers to shop with credits. The customer can recharge their credit account at any time with any amount and redeem it while shopping. If the balance is insufficient, the remaining amount can be paid with another payment method. As a shop owner, you can also recharge wallets to simplify returns processing, for example; or you can simply send your customer a small birthday gift.

The wallet system is, therefore, a perfect customer loyalty tool that offers a wide range of applications and generates many benefits:

• Returned value does not need to be paid out, so the revenue remains within the company.
• You grant your employees tax-free benefits in the form of monthly wallet recharges, which are in turn spent in the company shop.
• Thanks to the REST API, integrators can set up POS systems to accelerate in-store and cashless sales during an event or fair.
• The wallet plugin offers payment methods and functions for digital wallets.

The wallet plugin offers the following features:

• The shop owner can book, edit, and delete credits on the customer's credit account.
• The credit is displayed in the customer's account.
• Customers can buy values themselves. This option can be turned off. The amounts can be set or freely chosen by the customer.
• The customer can pay for their purchases with a credit.
• Partial payments (credit is insufficient, the rest is paid with another payment method) are also possible.
• The remaining credit stays in the credit account.
• Partial payment can be disabled.
• Additional fees may be charged when paying with credit.
• The currency in which the credit account is to be managed can be set globally.

Practical Example: Adding and Managing Additional Wallet Applications

In the "Smartstore Wallet" application, you can, for example, store boarding passes, movie tickets, event tickets, vouchers, bonus cards, etc. – so you can quickly access them all in one central place. The cards can contain useful information such as balance, the expiration date of a voucher, or admission and seat number for a concert. 

Wallet Integration for Smart Venue & Smart Stadium

Using the Smartstore Wallet can significantly advance the digital transformation of venues and stadiums. Through the seamless integration of payment, ticket, and access solutions, a consistent, automated workflow emerges:

1. Pre-configuration & Ticket Purchase

From the moment an event ticket is purchased online, admission is digitally prepared. The ticket is automatically stored as a digital admission ticket (eTicket) in the visitor's wallet. Besides the access authorization, seat information, discounts, and additional services (e.g., VIP access, cloakroom service, or parking tickets) can also be integrated. 
→ Result: Reduced waiting times and paperless entry control.

2. Wallet as a Payment Method in the Venue or Stadium

During the event, visitors can pay contactlessly at all points of sale with the stored balance of the wallet – from merchandising to hospitality.

• No separate authentication required

• Fast payment process even with high visitor frequency

• Integration of stationary POS systems via REST-API
  → Result: Higher transaction speed, fewer cash payments, better visitor control.

3. Dynamic Loyalty & Cross-Selling

Bonus programs or dynamic discounts can be activated directly after the ticket purchase via the wallet. For example:

• €5 credit after purchasing a season ticket

• Loyalty points with every beverage purchase

• Activating promotions during the game or concert
  → Result: Increased visitor loyalty and more additional sales.

4. Reprocessing & Post-Event Follow-Up

Refunds – e.g., for canceled events or unused tickets – are automatically processed to the wallet balance.
This saves administrative effort and keeps the revenue in the system.
→ Result: Faster processes, lower transaction costs, positive visitor experience.

5. Data-Based Optimization

The integration of the wallet into the Smart Venue or Smart Stadium concept also provides valuable anonymized data on:

• purchase behavior and peak times

• popular products and services

• visitor behavior (check-in, duration of stay, etc.)

This information can be used for smart visitor management, optimizing sales logistics, and targeted personalization of offers.

Wallet + Smart Order – Mobile Orders Without App Constraint

In combination with Smart Order, the Smartstore Wallet becomes a central element of a seamless and user-friendly order and payment ecosystem:

1. Instant access and payment with credit
   The visitor scans a QR code or NFC tag and gains direct access to the order menu – without app download and no registration required. For registered users, available wallet credit can already be preset as the preferred payment option. During the ordering process, it is automatically checked whether sufficient credit is available; if not, the remainder can be paid with another payment method.

2. Top up credit in the checkout process
   If the wallet credit is insufficient, the option to recharge the wallet directly (e.g., by credit card, SEPA, etc.) is displayed during the checkout process. After successful top-up, the amount is immediately available in the wallet, and the order can be completed immediately.

3. Partial payment flexibly combinable
   If the credit is only partly sufficient, the system allows a combination of wallet partial payment and classic payment method – ideal for avoiding purchase cancellations. The checkout remains efficient and intuitive.

4. Refund & deposit processing via the wallet
   For returns, cancellations, or handling of deposit amounts (e.g., for drink bottles), the amount is automatically and digitally returned to the visitor's wallet. This keeps the revenue in the system, speeds up processing, and the user experiences a consistent experience until the end of the event process.

5. Loyalty programs & voucher usage
   The wallet can serve as a central place for vouchers, loyalty credits, or event bonuses. Within the Smart Order workflow, actions such as "5% extra credit when topping up today," "redeem voucher directly at checkout," or "collect bonus points with every order" can be implemented.

6. Offline and buffer mode for fluctuating network connections
   Especially in large arenas or halls with weak network coverage, it is possible to top up credit to the wallet beforehand. In the event of short-term connection failures, orders can be buffered locally and synchronized later – with settlement via the wallet as the preferred payment option.

7. Centralized data integration and real-time insights
   All transactions (wallet top-ups, orders, refunds) flow centrally into the backend. Operators can see in real-time which products are in high demand, at what time the cash flow increases, and thus efficiently manage sales stands, personnel, or goods flows.

Strategic Advice & Implementation Around the Smartstore Wallet

The introduction of the Smartstore Wallet is much more than providing another payment method – it is a key building block for the digital transformation of sales and service processes. Our service is precisely at this interface between strategy, technology, and operational implementation.

1. Consulting & Strategic Conception

Together with our customers, we develop a tailored concept that understands the wallet not in isolation but as an integral part of the customer journey. We analyze:

• business model, target groups, and use cases,

• existing payment and checkout systems,

• possible integration points with ticketing, Smart Order, and loyalty systems,

• security and data protection requirements (GDPR compliant).

Our goal is to establish the wallet not as a technical island solution, but as a value-creating instrument that intelligently connects sales, marketing, and operations.

2. Process Design & Workflow Architecture

In the next step, we design the appropriate processes and workflows to efficiently integrate the wallet into existing systems.
Examples:

• automated ticket and voucher logic,

• refund and deposit processes,

• POS integration for hybrid online/offline transactions,

• cross-channel payment and loyalty strategies.

We ensure that the solution remains scalable, operationally secure, and user-friendly – both for end customers and operators.

3. Technical Implementation & Integration

Our specialists carry out the complete implementation and system integration:

• configuration of the wallet plugin,

• setup of the REST API interfaces,

• integration with Smart Order, Smart Venue, Smart Stadium, and third-party systems,

• setup of individual top-up and payment logics,

• testing, quality assurance, and go-live.

This way, we ensure that the solution functions smoothly and is reliable in real-time – even during major events or complex sales processes.

4. Training, Operations & Support

We enable your teams to operate the system independently and offer accompanying support in operational operations if desired:

• training for sales staff, admins, and service teams,

• operation manual and best practice guidelines,

• proactive support and further development.

This turns a technology into a tangible tool for revenue enhancement, process optimization, and customer retention.

5. Future-readiness & Growth

The Smartstore Wallet is a platform with growth potential:
New functions like dynamic discounts, loyalty mechanisms, or multi-location setups can be added modularly. We support our customers beyond the initial implementation and help them strategically develop the solution further.

In summary: Our service around the Smartstore Wallet lays the foundation for a holistic digital sales and experience process, in which payment, ticketing, loyalty, and data analysis intertwine.
We provide consulting, concept, technical implementation, and operations from a single source – efficient, practical, and scalable.

More info: http://community.smartstore.com/index.php?/files/file/127-wallet/

Do you have questions on this topic? Or would you like to send us your feedback? Then you can reach us via the contact form, by email at info@smartstore.com or by phone from Monday to Friday between 10 a.m. and 4 p.m. under the number +4923153350.