Renewal payments

When a new invoice is finalized in Stripe and the due date (including the time) has passed, Loop will attempt to collect on that invoice. Loop will attempt every 10 minutes to process the payment until the auto-cancellation window is hit.

Additionally, Loop sends a series of emails to the customer before and after a payment is due.

Details on how Stripe works

When a subscription renews, Stripe will create a draft invoice; this is the only state that you can edit an invoice in Stripe. Unless you explicitly disable it, invoices you create in Stripe ​automatically finalize ~1 hour before the payment is due. Invoices you create with the Stripe API, however, ​​won’t automatically finalize.

Loop will only collect on invoices that are finalized; however, we pull in draft invoices from Stripe to Loop so that you can see your upcoming invoices and easily check a customer's allowance / balance before the invoice is due. These invoices are marked with a "DRAFT" tag. Note, these invoices are also viewable by end customers in the Customer Portal.

If you cancel a draft invoice in Stripe, it will also cancel in Loop.

Lastly, Loop sends emails to remind customers about payments. We will include these draft invoices in those notifications, and mark them as drafts, so customers have time to manage their balance / allowance.