At Versio, we use an online wallet system for our customers. The online wallet is like a real online wallet. Customers top-up their online wallet balance, which they can then spend at Versio on the various products and services. The advantage of this is that any transaction costs will be paid once, only when topping up your balance, and not with every order. Another major advantage is that, when paying via your online wallet, all orders are processed immediately and real-time.
Customers can also have a negative balance via the online wallet. All customers can enable automatic renewal. In case of automatic renewal of a subscription, the amount due will be deducted from the online wallet. If there is not enough balance, the customer will have a negative online wallet balance. The only condition we have for this is that the customer has a balance of at least £0 for one full hour per 30 days.
Post-payment via online wallet
Customers who have been purchasing services for quite some time and who have built a relationship of trust with Versio, can choose 'Post-payment' on the payment page'. In this case, the order is processed immediately and the amount due will be deducted from the online wallet, even if there is not enough wallet balance. If there is not enough balance, the customer will have a negative online wallet balance. The only condition we have for this is that the customer has a balance of at least £0 for one full hour per 30 days.
