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

Besides the offer and price, the payment method is a decisive factor in whether customers use an online shop or leave it again. Studies show that buyers prefer shops that offer multiple flexible payment options. One of these options is the Wallet.

Wallets – also known as digital wallets – enable secure and fast deposits and withdrawals directly in the shop. A significant advantage lies in the quick processing of refunds: amounts from returns can be credited to the wallet significantly faster than with traditional payment methods.

While some customers still want to pay in cash or by invoice, others prefer card payments or modern digital payment methods. In recent years, digital wallets have become an integral part of e-commerce and make a measurable contribution to increasing the conversion rate.

In addition, the wallet is suitable for mapping a wide variety of use cases, such as for regular debits and credits for subscriptions, events, or bonus programs.

Example Transactions in the Smartstore Wallet

In a wallet system, different types of transactions are clearly displayed. Customers can top up their balance, for example via PayPal (deposit), and use it for purchases. In the case of returns or cancellations, the corresponding amount is automatically credited again. Additionally, credits from welcome bonuses or referral programs can occur. Recurring costs like subscriptions are regularly debited from the balance. Lastly, there is the possibility to pay out existing credit to an external bank account.

What is the function of the digital wallet?

The digital wallet or virtual purse is a medium that allows customers to conduct online transactions for future use. The user's bank account and other login information are linked to the digital wallet, and thus the money is virtually stored for future use. Smartstore provides the function of the digital wallet as it helps all parties in the smooth processing of transactions. E-commerce companies either have their own virtual wallet function* or cooperate with e-commerce firms that offer this type of service, 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 for every purchase in the shop. This one function has many benefits.

Quick payment: A lengthy checkout process is a torment 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 defined path to an "Abandoned Cart", and as you know, an abandoned shopping cart is one of the worst enemies of online shop operators. The function of the e-wallet is the savior in such times. Since the amount is automatically deducted from the wallet for each transaction, the consumer does not have to repeatedly enter their credentials during each transaction. The cumbersome process is thus shortened, saving the customer's time.  

There are no problems with failed payments for customers, and the merchant will see fewer abandoned carts. 

Pleasant shopping experience: The smooth payment method offers customers a pleasant shopping experience on your website; in addition, you certainly want your customers to visit your website more frequently for online shopping, which leads to customer retention. Moreover, they can buy things or receive a discount for a limited time 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 because they don't 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 function is also compatible with mobile payments. It can be called a mobile wallet.  

The new wallet system allows customers to shop with credits. The customer can top up their credit account with any amount at any time and redeem it when shopping. If the credit is not sufficient, the remaining amount can be paid with another payment method. As a shop operator, you can also top up wallets, for example, to handle returns more easily; or you can simply send your customer a small birthday gift.

The wallet system is thus a perfect customer loyalty tool that offers numerous application possibilities and generates many advantages:

• The value for returns does not have to be paid out, so the revenue remains in-house.
• You grant your employees tax-free benefits in kind in the form of monthly wallet top-ups, which in turn are spent in the company's internal shop.
• Thanks to the REST API, integrators can set up POS systems to speed up the stationary and cashless sale during an event or trade fair.
• The Wallet plugin offers payment methods and functions for digital wallets.

The Wallet plugin offers the following functions:

• The shop operator can book, edit and delete credits in the customer's credit account.
• The credit is displayed in the customer account.
• Customers can buy values themselves. This option can be turned off. Amounts can be fixed or freely chosen by the customer.
• The customer can pay for their purchases with a credit.
• Partial payments (credit is not sufficient, the rest is paid with another payment method) are possible.
• The remaining credit stays on the credit account.
• Partial payment can be disabled.
• Extra fees can 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 store, for example, boarding passes, movie tickets, event tickets, vouchers, bonus cards, etc., so you can quickly access them in one central location. The cards can contain useful information, such as the balance, the expiration date of a voucher, or the entry and seat number for a concert. 

Wallet Integration for Smart Venue & Smart Stadium

With the use of the Smartstore Wallet, the digital transformation of venues and stadiums can be significantly advanced. Through the seamless connection of payment, ticket, and access solutions, a continuous, automated workflow is created:

1. Preconfiguration & Ticket Purchase

Even when purchasing an event ticket online, the entrance is digitally prepared. The ticket is automatically stored as a digital admission ticket (eTicket) in the visitor's wallet. In addition to 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 access control.

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

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

• No separate authentication required

• Quick payment process via NFC even with high visitor frequency

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

3. Dynamic Loyalty & Cross-Selling

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

• 5 € credit after purchasing a season ticket

• Loyalty points with every drink purchase

• Activation of special offers during the game or concert
  → Result: Increased visitor loyalty and more additional sales.

4. Reversal & Event Follow-Up

Refunds—for example, for canceled events or unused tickets—are automatically credited back to the wallet balance.
This saves administrative effort and keeps the revenue within the system.
→ Result: Faster processes, lower transaction costs, positive visitor experience.

5. Data-Based Optimization

Integrating the wallet into the Smart Venue or Smart Stadium concept also provides valuable anonymized data about:

• Purchase behavior and peak times

• Popular products and services

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

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

Wallet + Smart Order – Mobile Orders Without App Requirement

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

1. Instant Access and Payment with Credit
   The visitor scans a QR code or NFC tag and accesses the order menu directly – without app download and registration. For registered users, already available wallet credit can be pre-set as the preferred payment option. During the ordering process, it is automatically checked whether enough credit is available; if not, the remaining amount can be settled with another payment method.

2. Credit Recharge in the Checkout Process
   If the wallet balance is not sufficient, the option to top up the wallet is displayed during the order process (e.g., via credit card, SEPA, etc.). After successful recharging, the amount is immediately available in the wallet, and the order can be completed immediately.

3. Flexible Combination of Partial Payment
   If the credit is only partially sufficient, the system allows a combination of wallet partial payment and traditional payment types—ideal for avoiding purchase cancellations. The checkout remains efficient and intuitive.

4. Refunds & Deposit Handling via Wallet
   For returns, cancellations, or deposit handling (e.g., for drink bottles or cups), the amount is automatically and digitally credited back to the visitor's wallet. Thus, the revenue remains in the system, the process is accelerated, and the user experiences a consistent experience until the end of the event sequence.

5. Loyalty Programs & Voucher Usage
   The wallet can serve as a central location for vouchers, loyalty credits, or event bonuses. Within the Smart Order workflow, actions such as "5% extra credit when recharging today," "Redeem voucher directly at checkout," or "Collect bonus points with every order" can be realized.

6. Offline and Buffer Mode with Fluctuating Network Connection
   Especially in large arenas or halls with weak network coverage, it is possible to load credit onto the wallet beforehand. In the event of temporary connection failures, orders can be buffered locally and synchronized later — with billing via the wallet as the preferred payment option.

7. Centralized Data Integration & Real-Time Insights
   All transactions (wallet reloads, orders, refunds) flow centrally into the backend. Operators can recognize in real-time which products are in high demand, at what time the cash flow increases, and thus efficiently control sales stands, personnel, or supply streams.

Strategic Consulting & Implementation Around the Smartstore Wallet

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

1. Consultation & Strategic Design

Together with our customers, we develop a customized concept that does not view the wallet 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 standalone solution but as a value-adding 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, secure, and user-friendly—both for end customers and operators.

3. Technical Implementation & Integration

Our specialists take care of the complete implementation and system integration:

• Configuration of the wallet plugin,

• Setup of 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 ensures that the solution works smoothly and is reliable in real-time—even at 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 personnel, admins, and service teams,

• Operating manual and best practice guidelines,

• Proactive support and further development.

This turns from a technology into a tangible tool for increasing sales, optimizing processes, and customer retention.

5. Future Viability & Growth

The Smartstore Wallet is a platform with growth potential: New features such as 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 creates the foundation for a comprehensive digital sales and experience process, where payment, ticketing, loyalty, and data analysis interlock. We provide consulting, concept, technical implementation, and operation from a single source – efficient, practical, and scalable.

*Voucher cards and wallets in the focus of financial supervision

Voucher cards and wallets remain popular but are increasingly under the scrutiny of financial supervision. The case of Jochen Schweizer shows how costly violations of the Payment Services Oversight Act can be. Those who act without BaFin approval risk fines and criminal liability. The proximity to regulated payment services and e-money is particularly critical. Exceptions like “Limited Loop” or “Limited Range” must be strictly observed. Dealers should check their models in due time and coordinate with BaFin to be legally compliant and avoid warnings from competitors. Further information on the topic: Voucher cards and wallets in the legal focus can be found here: https://smartstore.com/de/gutscheinkarten-im-fokus-wachsende-risiken-und-wie-haendler-rechtlich-auf-der-sicheren-seite-bleiben/. Further Infos: http://community.smartstore.com/index.php?/files/file/127-wallet/ 

Do you have questions about 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 Monday to Friday between 10 and 16 o'clock at the number +4923153350.