One-time payments
Loop allows companies to collect one-time payments and deliver a simple and efficient payment experience that saves days of manual reconciliation work.
Collecting one time payments in crypto is time consuming because it is very manual - you have to send a one-off invoice manually, wait for it to get paid, then track down the transaction hash and finally deliver the product. Loop enables companies to automate this entire process in 3 easy steps. These steps can be completed via our dashboard (no-code) or via our SDK / API calls.
Create a one-time payment
Collect authorization
Invoice (i.e. schedule payment)
Optional: Set up webhook notifications
You can read about how Loop helped Assure DeFi collect one-time payments at scale here.
No code
1. Create a one-time payment
On the company dashboard, navigate to the "one-time" page, and click add a new one-time payment button. When creating a one-time payment, you are able to select which tokens you want to accept by network, and you can elect to enable auto-invoicing (recommended), among other fields.
Once a one-time payment is added, the payment will be included in the table and a checkout page will automatically be generated.
2. Collecting authorization
Loop provides a custom checkout page for each one-time payment. This page can be sent directly to the end customer via email, telegram, included in an externally generated invoice or it can be embedded directly on your site in a "pay with crypto" button.
3. Invoice
If you chose auto-invoicing, Loop will automatically generate the transfer request for the one-time payment based on the item's payment frequency and amount specified. There's no need to do anything.
If you chose to manually invoice, you can generate an invoice (called a transfer requests) on our company dashboard via the invoice button on the Customers page. Here you can type in the details of the invoice and schedule the payment. This option is best for companies who may have changing payment amounts and dates and thus require flexibility in scheduling a payment.
That's it! You just got paid.
You can find all the details of the payment on the transactions page and download as a CSV.
Optional (webhooks)
Loop uses webhooks to notify you of events. You can ingest these events into your application or your can have them go to Slack, Airtable or Discord to be notified immediately of a payment.
The AgreementSignedUp event lets you know that a wallet provided authorization to be billed - it does not mean you have been paid yet, but it does indicate the user has set an allowance for payments.
The TransferProcessed event is the payment notification and indicates funds have been sent to the receiving wallet.
Using webhooks to granting access to your system
You can use the wallet address, email or a reference ID provided in either of these events to map to users in your system to provide access to your system.
Even with immediate invoicing, there will be a delay between the webhook events, as the transaction must be confirmed on-chain. Companies can decide to grant access based on the AgreementSignedUp event and take action if you do not hear about the TransferProcessed event within a certain amount of time, (e.g. show a warning, etc.). We built Loop to be flexible, so companies can decide how "aggressive" they want to be about payment confirmation.
There are a few reasons why the TransferProcessed event would not occur:
The wallet does not have enough balance to cover the payment
The wallet does not have enough token allowance to cover the payment
The transaction is stuck in the mempool
Loop's relay network is down
Wallet amount and balance information can be found on our company dashboard for all active subscribers if you are troubleshooting a late payment.
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