Use of E-wallet Or E-Money in MLM Software

An E-Wallet is an online storage medium holding information for E-Money transactions without entering user data each time at the time of a transaction. This ensures E-commerce transactions quickly and securely. And E-money, which is also known as E-currency is the cash that exits in online banking systems, and not in the physical form (not in the banks). In the case of an MLM Software, E-wallet has the role of a virtual account where a member can make transactions with the amount available.

Let us see how an MLM company can use E-wallet in MLM Software

Use of E-Money\Use of E-Wallet in MLM Software:

Like all other online transactions, MLM Software also functions with the principle of Electronic currency, E-pin & E-wallet. A new product is sold/bought using the E-money. All transactions are carried with E-money in a matter of time. Along with the flexible operations, MLM Software provider’s guarantee secure E-money transactions. Considering the MLM Business, An E-wallet system is essential to manage and manipulate all Cash-in, Cash-out fund details of the member profile.

The cash-in process takes place when:

• Member gets commission on MLM Compensation Plan
• Through deposits (which is transferred Credit Cards, Debit Cards or any other Payment Gateways)
• From other E-Wallet accounts as E-money transfer
• As bonus etc.

The cash-out process takes place when:

• User pay new membership fee for online registration
• During withdrawal
• While transferring E-money to another E-Wallet account
• While adjusting bonus
• While buying E-pins
• While Upgrading member account
• While Requesting E-Money withdrawal etc.

Benefits Of E-Wallet management:

E-wallet management makes your MLM Business much easier as it records each and every transferred fund (both added and deducted funds). In such a way, E-wallet acts as the major tool to run MLM Business successfully. A detailed report of E-Wallet transaction is available to admin in a scheduled manner

Features of  E-wallet in MLM Software are:

Some of the important features for E-wallet in MLM Software are

• The amount in E-wallet can be used for purchasing E-pins.
• The amount in E-wallet can be used for new registrations.
• The amount in E-wallet can be used for ordering/purchasing product.
• Can transfer Money to other E-Wallet (From one user to other).
• Amount deducted in re-purchase from payouts can be transferred to E-wallet.

E-wallet always ensures safe MLM Business with no risks.

Make sure that you choose the best MLM Software with a good E-wallet system for your MLM Company

Our MLM Software comes with an E-Wallet system with numerous features that can ease your MLM Business. You can Register here

Try out free MLM Software Demo Now