Looking to consolidate your retail transaction fees? Wodify's Minimum Cart Value (MCV) feature allows businesses to determine the lowest amount of a retail transaction that one can process when they are checking out on the Point of Sale (POS) interface.
In this article, we will cover:
Transaction fees on small items can easily eat into your profits. Luckily, Wodify has a minimum cart value feature to help you save!
How to Enable a Minimum Cart Value
When enabled, admins, managers, coaches, and clients cannot complete purchases under the business's predetermined MCV with client-stored credit cards, bank accounts, or swiping a card.
To enable your MCV:
- Go to Retail > Settings
- Within Minimum Cart Value, toggle on Enable Minimum Cart Value
- Minimum Cart Value: enter the dollar amount
- Click Save
Note: Anonymous users (Clients without a Client Profile) can still complete purchases under your MCV. Wodify does not want to prevent a prospective client from purchasing a product from your business.
Store Credit & Minimum Cart Value
Clients with a shopping cart that is less than MCV can easily purchase store credit at POS checkout.
- Sam wants to purchase 1 FitAid with a retail price of $3. Your business' MCV is $15. Sam does not have any store credit.
- On POS Checkout, Sam's coach does not have the option to choose Sam's stored Visa card (the cart total is less than MCV). The coach can choose 'Cash' or 'Buy Store Credit' to complete the purchase. Sam does not have any cash on him, so he will need to purchase store credit.
- Upon clicking 'Buy Store Credit', Sam has the option to purchase $15 or more in-store credit (IMPORTANT: store credit counts as a transaction - the lowest amount of store credit that can be purchased from POS will equal your MCV). Sam chooses '$15' from his options and chooses his stored Visa to make payment.
- Now that Sam has enough store credit, his coach can complete Sam's $3 purchase. Sam will have $12 in the remaining credit towards his account.
TIP: Wodify Blueprint Course - Selling In Person with Point of Sale
If you need any additional assistance with setting up your Minimum Cart Value, feel free to reach out to us at firstname.lastname@example.org or via Priority Live Chat in your admin account (Promote only).