Stripe + Loop

Integration time: 2 minutes

Overview

Companies can use Stripe’s frontend to collect crypto payments via Loop processing transactions on-chain on the backend, all with autopay natively enabled. This will save companies countless hours by not having to follow up with customers to collect payments, track down transaction hashes (metadata is immediately captured), and provide access to their end system.

One of the advantages of using Stripe as a central subscription management platform is that companies can use the exact same logic for managing their customers' subscriptions, regardless of whether their customers have chosen to pay with cash/credit cards or crypto and can leverage Stripe's coupon codes.

For example, if you’re using Stripe as your source of truth to provide access to your product for customers, you don't need to change anything. After going through the Loop checkout, the customer will be created in Stripe, and your workflow will function as intended to grant that customer access.

Getting started

Loop built a seamless integration for companies to get on-boarded in minutes. Our automated setup allows companies to provide Loop with Stripe API keys that are used to pass information between the two system.

For companies that prefer to sign their own transactions, or want to integrate custom flows for their use case that are beyond the scope of Loop's integration with Stripe, please reach out to us at [e-mail] for access to a guide on how to deploy a Loop/Stripe integration manually. Manual integration involves custom software development, but can suit more complex use cases.

To check out the automated integration in action and see more details on the setup process, you can check out our video series.

How it works

This overview assumes an automated set up.

Adding in products (subscriptions)

At integration, Loop will pull in any “products” already configured. Going forward as products are made in Stripe, they will automatically be created in Loop.

Collecting authorization

There are two ways to collect a customer's wallet authorization: (1) via a “payment link” that can be embedded in a "pay with crypto" button or sent directly to a customer or (2) via our checkout modal that can overlay on your custom checkout page.

Creating customers and invoicing them

Once a customer has successfully signed up to the subscription, we will create that customer in Stripe and create a “subscription” associating the customer and the product. If the customer already exists, we’ll create a new subscription for that customer.

When Stripe creates the invoice, we will pull this invoice into Loop and then collect the payment on-chain.

You will see a canceled payment on the customer page under "Payments". This is Stripe canceling its attempt to charge the payment method on file after it recognizes that a payment has been made outside of Stripe. Don't worry - this does not affect anything and is just Stripe's process for payments made outside of its system. Under the "Invoice" section, you will see an invoice marked "paid" and within the memo of the invoice, you will see a note that this invoice was “paid via LoopCrypto.”

When the transaction confirms on-chain, we will mark the payment as paid in Stripe and provide the metadata from Loop (e.g. transaction hash). You can download your transaction history in CSV format from the Loop dashboard.

Stripe only includes payments they collected in their revenue dashboard. Unfortunately this means payments marked as paid outside of Stripe - like these payments - will not be reflected in those numbers.

Stripe will then create the next invoice, and the loop (pun intended 😄) will start again.

Verifying receipt

As mentioned above, all of the transaction metadata (i.e. transaction hash, invoice number, receiving wallet, etc.) is available via the Loop dashboard and can be downloaded via CSV.

In terms of accounting, if you’re using Stripe for invoicing and tracking accounts receivables, you can track all your invoices in Stripe as usual, regardless of if the customer is paying in fiat or crypto. Separately, you can monitor the inflow of crypto to your balance sheet, which can be handled using Loop’s transactions page alongside crypto accounting solutions, such as Integral or Entendre Finance.