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
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