WordPress WooCommerce Wallet System Plugin 3.6.3

A WordPress WooCommerce Wallet System Plugin is a popular type of extension that allows registered customers to have a digital wallet or store credit account on your e-commerce store. This functions as an in-store payment method, similar to a prepaid account.

This system is widely used to enhance customer loyalty, streamline the checkout process, and manage refunds easily. There are several highly-rated options on the market, such as TeraWallet (Wallet for WooCommerce), YITH WooCommerce Account Funds, and Wallet System for WooCommerce (by WP Swings).

💰 Core Wallet Functionality

The fundamental features offered by most professional wallet plugins include:

Feature

Description

Benefit

Fund Deposit/Top-Up

Customers can add funds to their wallet balance using standard payment gateways (Stripe, PayPal, etc.) available on your site.

Increases customer commitment and provides you with revenue upfront.

Wallet Payment Gateway

The wallet balance appears as a payment option on the checkout page.

Enables faster checkout (no repeated card entry) and reduces cart abandonment.

Partial Payments

If the cart total exceeds the wallet balance, customers can pay the available wallet amount and cover the rest using a traditional payment method.

Increases flexibility and encourages wallet usage even with low balances.

Wallet Refunds

Store admins can process refunds for returned/cancelled orders directly into the customer's wallet balance, rather than back to the original bank/card.

Saves on payment gateway transaction fees and ensures the funds stay within your store ecosystem.

Transaction History

Customers have a dedicated "My Wallet" section in their account to view detailed logs of all deposits, payments, debits, and credits.

Provides transparency and builds customer trust.

Admin Control

The store owner can manually credit or debit funds to a customer's wallet balance from the WordPress backend.

Useful for compensation, bonuses, or resolving support issues.

🚀 Advanced Loyalty & Marketing Features (Often PRO)

Many plugins offer extra features that turn the wallet into a powerful marketing tool:

Cashback/Rewards System: Automatically credit a percentage or fixed amount of the purchase value back to the customer's wallet as a reward. This can be based on products, categories, or user roles.

Referral Program: Reward customers with wallet credit for referring new users who sign up and make a purchase.

Wallet-to-Wallet Transfers (Peer-to-Peer): Allows one registered user to send wallet funds to another registered user on the same site.

Wallet Withdrawal: Allows customers to request to withdraw their wallet balance back to a bank account (admin approval required, often with a fee).

Low Balance Notifications: Send automated emails to customers when their wallet balance drops below a specific threshold, prompting a top-up.

Gamification: Awarding small credits for actions like daily logins or leaving product reviews.

Using a wallet system can significantly enhance customer retention and increase the lifetime value of your shoppers.

Would you like a comparison of the key differences between the TeraWallet and YITH Account Funds plugins?