Payin

A payin is a type of payment and is the movement of funds from a User to a Merchant. It can be for either a single one-time purchase or a subscription.

A payin is identified by the payinId in Loop and as an externalinvoiceID in the platform's system.

There are two ways to create a payin:

1. Using the Pay component which will show the customer the acceptedPaymentTypes a Merchant is willing to accept and create for you the customer, payment method, create the payment method approval transaction, and payin.
2. By API only. This requires you to construct your own onchain transaction. We provide sample code here.

Payment retries

Loop will attempt to process a payin every 3 minutes for 7 days.

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Payment Types & Payment Destinations

The acceptedPaymentTypes defines the networks and tokens a Merchant is willing to accept.

The payoutDesintation defines where the payment is sent.

The payment type is initially set when you create a merchant and can be updated using the payment types endpoint.