If you run a points program, you can offer store credit as something members redeem their points for, alongside or instead of coupon rewards. A member spends points, receives store credit in their Shopify account, and applies it at checkout on any future order.

This article covers redeemable store credit rewards. If you want to award store credit automatically on every order or loyalty action without a points step, see Set up cash back in your loyalty program, or store credit on earn rules.

❗ Before you start, store credit must be enabled on your store and Okendo must have permission to issue it. Please read "Enable store credit for your loyalty program" to get started.

In this article, you will learn about:

Creating a store credit reward
Setting different reward values per VIP tier
Offering store credit in multiple currencies
How members redeem store credit
Limitations to know about
FAQs

Creating a store credit reward

Go to Okendo Admin > Loyalty > Configure > Points Rules, then select the + button at the bottom of the rewards list.
Select Fixed Value Reward or Convert Your Points Reward. This example uses Fixed Value Reward.
Against Award Via, select Store Credit.
Enter a Points Cost — how many points a member spends to claim the reward.
Enter an Amount — how much store credit they receive in return.
Under Description, add Title Text and Notification Text. This is optional, but we strongly recommend it if you also offer coupon rewards at the same points value, so members can tell the two apart.
Under Restrictions, choose whether each allocation of store credit expires. If it does, enter how many days it stays valid.
Under Available On Tiers, select which VIP tiers can redeem this reward.
Select Apply, then Save.

⚠️ The first time you create a store credit reward, you will be asked to grant Okendo permission to access store credit in Shopify. Follow the on-screen prompt to complete this.

Setting different reward values per VIP tier

If your program uses VIP tiers, you can give higher tiers more store credit for the same points cost. For example, 500 points might be worth $5 to a Bronze member and $10 to a Gold member.

Set this under Available On Tiers when configuring the reward. You can either enter a specific amount per tier, or apply a multiplier to the base reward value.

Offering store credit in multiple currencies

If members can order in their own currency, they will expect to redeem store credit in that currency too. Shopify supports a separate store credit balance per currency on each customer account, and Okendo can convert your reward value into any currency your store sells in.

⚠️ These steps assume you have already enabled the relevant countries and currencies in Shopify Markets, and that shoppers can select their currency on your store. If not, set up Shopify Markets first.

❗ Currency conversion applies to store credit rewards only. Shopify handles currency conversion for coupon rewards.

How currency conversion works

You create the store credit reward in your store's base currency. In the example below, the base currency is US dollars and the reward is 100 points for $10 USD.
You set a conversion rate for each other currency your store sells in.
When a member redeems the reward in another currency, Okendo converts the value and adds it to that currency's balance on their account.

Adding conversion rates

Go to Okendo Admin > Settings > Rewards > Store Credit Currency Conversion. Every currency attached to an active market is listed here.
Select the checkbox against each currency you want to support, then enter a conversion rate — the equivalent of one unit of your base currency.
Against Round Converted Values To, choose Whole Value or 2 Decimal Places.
Against Rounding Strategy, choose Round Down (always rounds down) or Round to Nearest (values ending in 4 or below round down, 5 or above round up).
Select Save.

❗ If you do not select the checkbox against a currency, store credit cannot be redeemed in it. Members will not see the reward in your onsite displays when that currency is selected.

❗ Cannot find a currency? Check that the country is assigned to a market, and that the market is activated on your store. See Shopify's guide to adding a market.

Conversion rates can be changed at any time, but only affect store credit redeemed after you save the change. Credit already issued keeps its original value.

Checking converted reward values

Once your rates are in place, you can check what each reward is worth in every currency.

Go to Okendo Admin > Loyalty > Points Rules > Redeem Rewards.
Open a store credit reward.
Under the Discount Amount field, select the multi-currency icon.
In the Set Multi-Currency Value screen, review the value in each enabled currency. These are calculated from your conversion rates and cannot be edited directly — change the base reward value and they recalculate.
Select Confirm to save, or Cancel to exit.
If you use set amount reward variations per VIP tier, select the multi-currency icon against each tier amount to review those conversions too.
Select Apply, then Save.

How members redeem store credit

Members redeem points for store credit through the same onsite displays they use for coupon rewards:

The loyalty page
The floating widget
The banner widget
The checkout extension - to redeem in a specific currency, the member needs a shipping address matching that currency, for example a Canadian address for Canadian dollars
Post-review modules

The value a member sees depends on the currency they have selected, your conversion rate, and their VIP tier. Redeemed credit is added to their balance immediately, including when redeemed at checkout.

Available Redeem Rewards

Redeem Rewards

Floating Widget Redeem

Redeem in Checkout via Okendo Loyalty Extension

Redeem in Okendo Banner Widget

Once a member/shopper redeems store credit from points, they can spend it out the checkout by selecting it as a payment method.

Limitations to know about

Store credit rewards cannot be restricted to specific products, collections, or customer cohorts beyond VIP tiers.
Store credit cannot be used against recurring subscription orders.
Store credit held in one currency can only be used on orders in that same currency.
Conversion rate changes only apply to credit redeemed after the change is saved.

Tracking store credit performance

Store credit redemptions appear in Okendo Admin > Loyalty > Performance > Redemptions, including total redeemed value, redemptions over time, and a breakdown by rule. For a full walkthrough of loyalty reporting, see Performance reporting in Okendo Loyalty.

Store credit events are also sent to connected marketing platforms. For the full event and property reference, see Okendo data sent to Klaviyo.

FAQs

To learn more about Store Credit FAQ, please refer to our in depth guide.

Can I offer store credit and coupon redeemable rewards at the same time?

Yes. Store credit is just another reward type, so members can have both available to redeem. Give each reward distinct title text so members can tell them apart, especially if they cost the same number of points.

What happens if a member redeems more store credit than their order is worth?

Nothing is lost. Shopify applies only as much of the balance as the order needs, and the remainder stays on their account.

Can I change a conversion rate after members have already redeemed?

Yes. Existing balances keep the value they were issued at. Only redemptions made after you save the new rate use it.

Which email template covers store credit redeemable rewards?

The Loyalty Rewards Redeemed template covers store credit redemptions. You can preview and customize it at Okendo Admin > Loyalty > Emails.

Set up store credit as redeemable rewards in your points program