Glossary

A

Accepted Payment Types - The tokens and networks that an end user can pay with on a platform, defined during entity creation and configurable per merchant.

AgreementCancelled - Webhook event triggered when a payment agreement is cancelled, providing details about the cancellation including network, contract address, and agreement ID.

AgreementSignedUp - Webhook event triggered when a customer successfully signs up for a recurring payment agreement, indicating autopay authorization has been granted.

API Key - Authentication credential automatically generated when creating an entity, required for all API requests to Loop's services.

Authorization Signatures - Security mechanism requiring wallet holders to sign messages with their private key when adding a wallet as a payment method, ensuring only authorized users can add payment methods.

Autopay - Feature allowing customers to authorize recurring crypto payments without manually sending funds each billing cycle, enabled through smart contract agreements.

B

Base64 Encoding - Required format for authorization signatures when sending API requests to Loop's endpoints.

BillDate - The scheduled date when a payin will be processed; payins with past bill dates are processed immediately.

C

Company Dashboard - Loop's web interface for managing products, subscriptions, merchants, and payment configurations.

Contract Address - The smart contract address on a specific blockchain network where Loop processes transactions.

Core APIs - Loop's foundational API endpoints that can be white-labeled by payment systems and processors.

Customer - End user within Loop's system who makes payments, associated with payment methods and billing information.

CustomerId - Unique identifier for a customer within Loop's system, used to associate payments and payment methods.

D

DevNet - Solana's development/testing network supported by Loop for testing integrations before production deployment. NetworkId 901.

E

Entity - Top-level organizational unit in Loop's system representing a business or organization, identified by a unique entityId.

EntityId - Unique identifier generated when creating an entity, used throughout Loop's ecosystem for identification.

ERC-20 - Ethereum token standard supported by Loop for subscription payments on EVM-compatible networks.

EVM (Ethereum Virtual Machine) - Blockchain runtime environment; Loop supports all EVM-compatible chains including Ethereum, Polygon, Base, and Optimism.

F

Fiat Settlement - Option for merchants to receive traditional currency payouts while customers pay with cryptocurrency or stablecoins.

Frequency - Billing interval for subscription products, set to HOUR, DAY, WEEK, MONTH, or YEAR with a corresponding frequency count.

I

Invoice - Billing document for one-time payments, automatically created in Loop when generated in integrated systems like Stripe.

InvoiceId - Unique identifier for invoices, used to track payments and link transactions across systems.

Item - Loop's internal term for products or services, identified by itemId and used to construct payment links.

ItemId - Unique identifier for products/items within Loop's system, used in API calls and payment link construction.

L

LatePayment - Webhook event triggered when a scheduled payment fails or is delayed, providing details about the failure reason and retry status.

List Payment Method Endpoint - API endpoint to retrieve all payment methods associated with a customer.

List Tokens Endpoint - API endpoint that returns available tokens and networks for payment configuration.

M

Merchant - Business entity within Loop's system that can process payments, configured with specific payment acceptance rules.

MerchantId - Unique identifier for merchants within Loop's system, used in API calls and component configurations.

MetaMask - Popular Ethereum wallet provider supported by Loop for EVM wallet authentication and payments.

N

NetworkId - Numerical identifier for blockchain networks (e.g., 1 for Ethereum mainnet, 137 for Polygon).

NetworkName - Human-readable name for blockchain networks (e.g., "Ethereum", "Polygon", "Base").

O

Onchain - Transactions and operations that occur directly on blockchain networks, as opposed to off-chain processing.

On-Ramp/Off-Ramp - Services for converting between fiat currency and cryptocurrency, integrated into Loop's API for global currency support.

P

PayIn - Transaction object representing an incoming payment, processed on the specified billDate if authorization and balance are sufficient.

Payment Link - URL generated for each item that customers use to complete crypto payments, constructed using entityId and itemId.

Payment Method - Stored wallet information associated with a customer, including authorization signatures and preauthorization balances.

PaymentMethodId - Unique identifier for stored payment methods, used when processing charges or retrieving payment method details.

Payout Destinations - Wallet addresses or accounts where merchant funds are sent after payment processing.

Phantom - Popular Solana wallet provider supported by Loop for Solana wallet authentication and payments.

PreAuthorization - Advance permission granted by customers allowing merchants to charge their wallet automatically for future payments.

PreAuthorization Balance - Amount of funds that a customer has pre-approved for automatic charging, required for processing scheduled payments.

R

Retry Cadence - Loop's automatic retry mechanism that attempts failed webhook deliveries 3 times immediately, then backs off over ~20 seconds with ~15 total retries.

S

Sepolia - Ethereum testnet supported by Loop for testing integrations and transactions before production deployment.

Smart Contract - Blockchain-based programs that automatically execute payment agreements and validate transfer requests using signature verification.

Solana - Blockchain network supported by Loop alongside EVM-compatible chains, using SPL token standard.

SPL (Solana Program Library) - Token standard used on Solana blockchain, supported by Loop for subscription payments.

Stablecoin - Cryptocurrency designed to maintain stable value, commonly accepted by Loop (e.g., USDC, USDT).

Stripe Integration - Pre-built integration allowing merchants to use Stripe's payment management with Loop's crypto processing.

Subscription - Recurring payment product defined by having a frequencyCount greater than 0, enabling automatic billing cycles.

T

Token Address - Specific blockchain address identifying a particular cryptocurrency token on a network.

Token Symbol - Human-readable identifier for cryptocurrencies (e.g., "USDC", "ETH", "SOL").

Transfer - Individual payment transaction processed through Loop's smart contracts on blockchain networks.

TransferFinalized - Webhook event triggered when a payment transaction is completed and confirmed on the blockchain.

TransferId - Unique identifier for individual transfer transactions within Loop's system.

Treasury Wallet - Destination wallet address where merchant funds are collected after payment processing.

U

USDC (USD Coin) - Stablecoin pegged to the US Dollar, commonly supported across all Loop-compatible networks.

USDT (Tether) - Popular stablecoin supported by Loop for payments across multiple blockchain networks.

W

Wallet Authentication - Process of verifying wallet ownership through cryptographic signatures before adding as payment method.

Webhook - HTTP callback mechanism used by Loop to notify merchants of payment events and status changes.

White-Label - Service model where payment processors can rebrand and integrate Loop's Core APIs as their own solution.