E-wallets have been around for quite some time and their popularity has been rising at an exponential rate. Digital wallets have almost become payment banks in the eCommerce industry. Autope offers merchant specific closed wallet solutions that allow your customers to pay money on the move.
A Closed wallet is a wonderful tool for developing customer loyalty by way of providing reward based cash back and also for crediting money against the returned/rejected orders by forcing the customers to use money for the purchase of goods or services being provided by the issuer.
A closed wallet is a mobile wallet or an e-Wallet which is designed for making full or part payment for the services directly provided by the wallet issuer. A Closed wallet cannot be used for making payments to any third party service providers or for money transfer. Also, there is no Cash withdrawal facility available on the closed wallet, which means the money once credited to a closed wallet can only be used against product and service being directly provided by the wallet issuer.