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Reward exchange rates

Exchange rates determine conversion rates when converting reward points to currency and vice versa for different websites and customer groups.

Rates must be configured for all customer groups that should be allowed to use reward points.

Each customer group can be assigned to only one rate per website.

Configure exchange rates​

  1. On the Admin sidebar, go to Sales → Reward Points → Reward Exchange Rates.
  2. In the upper-right corner, click Add New Rate.
  3. Set Website to the website where the rate applies.
  4. Set Customer Groups to the groups to which the rate applies.
  5. In Points Amount field, enter the conversion rate, that is, the number of points equivalent to 1 unit of the base currency of the website.

For example, if the base currency is set to US Dollar and Points Amount is set to 10, 200 points would be redeemed for $20.00 and vice versa.

  1. When complete, click Save.

How rates work​

The reward points cannot have fractional parts; therefore, when converting currency to points, the currency amount is multiplied by the conversion rate and rounded down.

When converting points to currency, the points amount is simply divided by the conversion rate.

Delete the exchange rate​

  1. On the Admin sidebar, go to Sales → Reward Points → Reward Exchange Rates.
  2. Find the rate to be deleted and open it in edit mode.
  3. In the menu bar, click Delete.
  4. To confirm the action, click OK.

When deleting the rate, customers assigned to the rate's customer groups will no longer be able to use reward points on the website the rate has been configured for.

The rate needs to be recreated for these customers to regain the ability to use points.

Troubleshooting​

If you receive a configuration conflict error when creating a rate, you might be trying to create the rate with a combination of website and customer groups that already exists. To resolve the issue, examine the rates specified in the error message.