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How to boost revenue by creating prepaid wallet offers for your customers

Overview

Passport allows providers to create Wallet Offers for their customers. This is a great promotional tool that can help you get paid faster, save money, give great deals to your parkers, and increase your usage numbers. You can create as many Wallet Offers as you’d like. Parkers will then pre-pay for one of the amounts that you have set, and use that wallet to pay for future parking.

Once parkers have uploaded funds into their wallet(s), they are able to pay with funds directly from their wallet instead of an individual credit card transaction, helping reduce your overall processing costs. Parkers who create wallets tend to be loyal to the lots in which they use the parking app, as their funds already exist in the app.

There are two types of wallets to be utilized: Simple and Complex. Simple Wallets are intended to be utilized for recurring usage, while Complex Wallets are used for promotions and incentives. A simple wallet offer would be, for example, pay $5 for $5 worth of parking. A complex wallet offer would be $5 for $7 worth of parking. The complex wallet adds an incentive for the parker to pre-pay, while the simple wallet provides a convenience.

 

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Steps

Simple wallet

1. Navigate to the Wallet tab in OpsMan. If you don’t see this tab, please reach out to help@passportinc.com so our Client Operations team can assist you with setting up a wallet.

2. Click on Offers, then Create New Offer. 

3. Name your wallet offer and pick a start and end date. 

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4. Select from the customization options available:

  • Forced Auto Recharge: check this box if you’d like to force the parker to upload more funds into their wallet once they reach a certain minimum amount.
  • Recharge Threshold: the minimum dollar amount the parker can have in his/her wallet. Once this minimum amount is hit, they will need to reload more funds.
  • Minimum Recharge: the minimum amount that the parker is able to reload when directed to do so. For example, if the recharge threshold is $10 and the min recharge is $5, when the parker hits $10 in his/her wallet, he/she will need to upload at least $5.
  • Increment Steps: if you’d like the parker to only upload in increments, you can put the incremental amount in this field (ex. The parker can only upload multiples of $5).
  • Maximum Recharge: this is the maximum amount that the parker can upload to his/her wallet. We highly recommend putting a max on the wallet. We do not offer refunds on wallets, and you may run into parkers who want a refund if they’ve uploaded too much money into their wallet. A good max is around $50.

5. Add the description, which will appear in the app. Click Save.

 

Complex wallet (incentive wallet)

1. Navigate to the Wallet tab in OpsMan. If you don’t see this tab, please reach out to help@passportinc.com so our Client Operations team can assist you with setting up a wallet.

2. Click on Offers, then Create New Offer.

3. Name your wallet offer and pick a start and end date.

4. Select the buy price and the value of your wallet. The buy price is the cost to the parker. The value is the amount the parker is given to use for parking sessions. You can incentivize parkers to purchase the wallet by making the buy price $4, with a value of $5.

5. Add the description, which will appear in the app. Click Save.

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