Payment Processing and Loyalty Programs

Payment Processing and Loyalty Programs

Overview

A seamless payment experience and rewarding loyalty programs are key to customer retention. iVendNext offers flexible payment processing and built-in loyalty tools to boost sales and engagement. This guide covers setup, best practices, and real-world applications.



1. Payment Processing in iVendNext

A. Payment Types (Tender Types)

Configure accepted payment methods under:
Home > Retail > Mode of Payment

Common Payment Types

Type

Use Case

Accounting Impact

Cash

Physical currency

Directly impacts cash account

Credit Card

Visa, Mastercard, etc.

Links to bank account

Gift Card

Prepaid/store credit

Deducts from gift card liability

Loyalty Points

Redeemable rewards

Tracks as deferred revenue


InfoPro Tip: Set Minimum/Maximum Amounts for card payments to reduce fraud.



B. Split Payments

Enable Allow Multiple Tender (Retail Settings) to:


  • Accept partial cash + card payments.

  • Combine loyalty points with other methods.


C. Advanced Features

  • Rounding Rules: Adjust totals to nearest dollar (e.g., $19.98 → $20).

  • Over/Under Tender: Handle excess/short payments (e.g., keep change as tip).



2. Loyalty Programs: Setup & Management

A. Loyalty Plan Configuration

Navigate to: Home > Retail > Loyalty Program

Key Settings

Setting

Description

Points Calculation

Earn rate (e.g., 1 point per $1 spent).

Tiers

Bronze/Silver/Gold levels with escalating perks.

Expiry Rules

Auto-expire points after 12 months.

Redemption Options

Discounts, free items, or cashback.




B. Customer Enrollment

  1. Manual: Add customers via CRM > Customer.

  2. Self-Service: Enable kiosk sign-up at POS.

  3. Auto-Join: Award points to all shoppers (optional).



C. Redemption Workflow

  1. Customer scans Loyalty Card at checkout.

  2. System:

    • Displays points balance.

    • Applies rewards (e.g., "$5 off").

  3. Points are deducted automatically post-purchase.


IdeaBest Practice: Train staff to promote enrollment during checkout.



3. Real-World Use Cases

Scenario 1: Coffee Shop

  • Loyalty Plan: "Buy 9 coffees, get the 10th free."

  • Payment Mix: 70% mobile wallets, 30% cash.


Scenario 2: Electronics Store

  • Tiered Rewards: Silver (5% off), Gold (10% off + free shipping).

  • Split Payments: Deposit via card, balance in installments.



4. Troubleshooting

Issue

Solution

Loyalty points not applying

Check Award Settings for minimum purchase rules.

Payment method declined

Verify account mappings in Mode of Payment.

Gift card balance outdated

Sync with Gift Card Recharge records.



5. Best Practices

  1. Promote Loyalty: Use POS pop-ups like, "Join today for 100 bonus points!"

  2. Reconcile Daily: Match payment batches with bank deposits.

  3. Audit Points: Run monthly Loyalty Journal reports.



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