Use of E-wallet or E-Money in MLM Software.

Use of E-wallet or E-Money in MLM Software.


Posted On: 19th Feb 2024 10:45

An electronic wallet (or e-wallet) is a sort of online storage that allows users to store information for E-Money transactions without entering their personal information each time. This guarantees swift and secure E-commerce transactions. And e-money, commonly referred to as e-currency, is money that leaves online banking systems rather than being physically present (in banks). An MLM software's e-wallet serves as a virtual account where a member can conduct transactions using the funds on hand.

Use of E-MoneyUse of E-Wallet in MLM Software:

Like all other online transactions, MLM Software also works based on electronic money, an electronic pin, and an electronic wallet. The E-money is used to sell or purchase a new item. With E-money, all transactions are completed promptly. MLM Software providers guarantee secure E-money transactions in addition to flexible operations. An E-wallet system is necessary for managing and manipulating all Cash-in and cash-out fund details of the member profile in the context of the MLM business.

The cash-in process takes place when:

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

The cash-out process takes place when:

  • Users pay a 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:

Your MLM business will run much more smoothly if you use e-wallet management to track all transferred monies (both added and taken out funds). E-wallet serves as the key tool for successfully operating an MLM business in this fashion. Admin can access a detailed report of E-Wallet transactions regularly.

Features of  E-wallet in MLM Software are:

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

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

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