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      What is an Izix Wallet Policy (formerly known as the Allowance Policy) and how to use it?

      Use Izix' Wallet Policy to manage parking spot allocation, contribute to your corporate ESG goals and fulfill CoBrACE requirements.

      The functionality previously referred to as the Allowance Policy was enhanced and restructured into a comprehensive Wallet Policy in December 2024. Please note that the specifications outlined below do not apply to customers who had already set up credit usage prior to this date. For further details or to transition to the upgraded Wallet Policy, please contact Support.

      This feature's availability depends on your subscription plan and role.

      Definition: A wallet serves as a credit holder for profiles, enabling them to pay for parking and parking-related services. Each wallet is linked to one or more Access Rights, and the provisioning of credits within the wallet is governed by the Wallet Policy. Fundamentally, the wallet is intended to facilitate quota management.

      Content

      1. What is the purpose of a Wallet Policy?
      2. What type of Wallet Policies exist?
        1. Auto-Refill
        2. Self-Funded Credits
        3. API-Managed
      3. How to create and use a Wallet Policy (incl. video)?
      4. Adjusting the Wallet Policy interval (auto-refill): Impact on users and recommendations
      5. FAQs

      1. What is the purpose of a Wallet Policy?

      The Wallet Policy, previously referred to as the "allowance policy," outlines the framework for allocating credits to a wallet, which can then be utilised for various services within the Izix ecosystem.

      Izix customers have the flexibility to tailor the Wallet Policy to suit their specific requirements, whether that involves fictive credits or actual financial transactions. This customisation offers several advantages, including the ability to incentivise users to opt for alternative modes of transportation, create user tiers (such as gold, silver, and bronze), restrict parking usage, or simply recover costs associated with parking services.

      To find out more about credits, see this article.

      2. What type of Wallet Policies exist?

      Izix supports three types of Wallet Policies to address different use cases. All three Wallet Policies can be used for the same profile simultaneously:

      a. Auto-Refill Wallets: The wallet is automatically replenished by the platform with a specified number of credits at pretermined intervals (weekly/monthly/yearly).

        • Intervals include weekly, monthly or yearly refills.
        • Credits do not accumulate. Any remaining balance from the previous period is replaced with the refill amount upon refill.
        • Users can request additional credits. Administrators must approve the request. 

      b. Self-Funded Wallets: Profiles can add their credits through Izix’s integration with Stripe.

        • The self-funded Wallet Policy is automatically created by the system when the self-funded credits add-on is activated in the Marketplace.
        • All specifities are fully managed by the organisation, not by Izix.

      c. API-Managed Wallets: Credits are added or removed programmatically by a third party (e.g. external mobility provider) through an API. 

      Once configured, it is possible to adapt the Wallet Policy. 

      Each Wallet Policy is uniquely linked to a specific profile's wallet (one-to-one relationship). This means that if you select the same Wallet Policy for another Access Right, the credits used will be drawn from the same wallet. To illustrate, consider your Sunday morning errands: when you visit the bakery and the flower shop, you use the same wallet to pay for both purchases. The same principle applies to Wallet Policies. If you wish for Access Rights to draw credits from a different wallet, you must select a different Wallet Policy.

      It is important to note that Wallet Policies cannot be combined for a single Access Right. For example, if you are using an auto-refill wallet, you will not be able to add credits through a self-funded wallet.

      3. How to create and use a wallet policy?

      Wallet Policies are established independently of Access Policies. When assigning an Access Policy to a user, you can choose the relevant Wallet Policy that best fits their needs. This flexibility enables the use of different Wallet Policies for the same Access Policy, allowing for effective segmentation of user profiles. As a result, certain profiles can be allocated more or fewer credits, which can influence their capacity to make bookings for specific parking services.

      Wallet Policies are configured on an organisational level and are available for all parkings. To create or modify existing Wallet Policies, access the organisations's console -> settings -> Wallet Policy. 

      If the Wallet Policy is not assigned to any user, it has not impact.

      Creating a Wallet Policy:

      • In order to create a self-funded Wallet Policy, the respective add-on must be activated via the Marketplace.
      • For the API Wallet Policy to be functional, you must have access to and have configured the API accordingly.

      Editing a Wallet Policy:

      • The only modifications allowed for a Wallet Policy are changes to its name and the amount of credits allocated. For further details on adjusting the Wallet Policy interval for auto-refill, please refer to section "4. Adjusting the Wallet Policy interval (auto-refill)".

      Removing a Wallet Policy:

      • Wallet Policies can be deleted only when they are not linked to any users.

      Auto-refill amounts must be whole numbers (no decimal).

      4. Adjusting the Wallet Policy interval (auto-refill): Impact on users and recommendations.

      The change in numbers of credits allocated to a user is only effective as of the next period.* Consider the planning period when making changes to the Wallet Policy.

      * monthly allocation = change effective as of the following month, weekly allocation = change effective as of the following week, annual allocation = change effective as of the following year

      Changes to the number of credits allocated to a profile will take effect only at the start of the next allocation period. However, any bookings made prior to the policy change will still be honoured. Therefore, it is advisable to implement modifications before profiles have the chance to reserve spots for the affected period, ensuring that changes are aligned with the planning cycle.

      For example, if a user’s credit allocation is reduced but they have already made several bookings that exceed their new credit limit, their balance at the start of the new period may be zero.

      To illustrate: User A typically receives 100 credits each month. If, in May, this allocation is cut to 50 credits, the reduction won’t take effect until June. If User A has made bookings in June totalling 60 credits, those bookings will still be honored, but their credit balance will be zero at the beginning of June, preventing them from making any further reservations.

      Change management recommendations:

      Frequency of credits allocation Planning period Recommended time to implement the changes
      Monthly 30 days

      Change on: 1st of May
      Effective as of: 1st of June
      Monthly 15 days

      Change on: Between 1st and 15th of May

      Effective as of: 1st of June
      Weekly 15 days

      Change on: 1st of May

      Effective as of: 15th of May
      Weekly 7 days

      Change on: 1st of May

      Effective as of: 8th of May

      5. FAQs

      Credit requests

      • As an administrator, I regularly receive credit requests. Can we disable the option for users to request additional credits?
        • Whether or not you are using an Auto-Refill Wallet Policy, it is not possible to disable the option for users to request additional credits. However, there is no impact on the user if you choose not to respond to the request.

      Self-funded wallets

      • How long are self-funded credits valid?
        • Self-funded credits have a validity of 100 years as long as the Access Right is not removed from the profile.

      Simultaneous use of Wallet Policies

      • We own multiple parkings with different needs. Can I use different types of Wallet Policies?
        • An organisation (regardless of the number of parking locations used or owned) can have only one self-funded credits wallet at a time. However, other Wallet Policies can be used simultaneously and without limitations. For example, a user can have several Access Rights associated with separate auto-refill wallets in addition to one specific self-funded credits wallet.

      Auto-refill wallets

      • I am onboarding a new employee. It is the middle of the week, and our Wallet Policy interval is set to weekly. Will the profile receive credits on a pro-rata basis?
        • No, a profile associated with a new Access Right or Wallet Policy will always receive the full credits balance, regardless of when it was created during the interval.
      • If a profile books for a future interval period, how do we ensure that the correct credits are deducted from the future credits instead of the current credit period?
        • Wallet debits correspond to the period in which the parking event occurs, not when the transaction (reservation) is made. For example, if a profile has a weekly auto-refill interval and makes two bookings today:
          (a) one for today and
          (b) one for next week,
          the credits deducted will belong to two different intervals.