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Does ConsignCloud support Credit Bonuses and Payout Penalties?
Does ConsignCloud support Credit Bonuses and Payout Penalties?

Two tricks for encouraging your consignors to spend their earnings in your store.

Jonathan Staab avatar
Written by Jonathan Staab
Updated over a week ago

In consignment, one of the most reliable ways to attract repeat business is to bring your consignors back in as customers. ConsignCloud supports two ways of doing this: credit bonuses and payout penalties. In general, we recommend the former, since it's a better experience for your consignors, but both approaches work.

Credit Bonuses

To set up credit bonuses, visit your Register app settings and enter a value under "Store Credit Bonus". This number is a percent to auto-credit your consignors when they use credit in your store. The way this works is when making a credit payment ConsignCloud simply debits their account for less than the payment they made.

The formula for this might not be immediately intuitive, since we base the bonus on how much credit is debited, rather than the payment amount itself. The formula for that is bonus amount = payment amount - (payment amount / (bonus percent + 1)). This also happens to slightly reduce the bonus you're giving out on a regular basis.

Payout Penalties

Penalties can be set up at Settings » Policy under "Payout Penalty". This doesn't take effect until a settlement is processed, at which point this rate will be applied to the settlement amount and the net will be paid out. An additional balance entry will be recorded for full transparency.

The math for the payout penalty is more straightforward than it is for credit bonuses, being the product of the consignor's balance and the penalty rate. ConsignCloud will show this penalty in all settlement dialogs, so you'll know how the payout will be affected.

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