The autopay function is prevalent in TradFi - think about all instances where payments are automated, like your subscriptions , loan repayment, salaries, utilities payment, credit card repayment.
Having to manually approve such recurring payments would be a headache for you.
Today in the web3 space, projects having a subscription pricing model have a tough time automating these recurring payments if they want to be paid in crypto.
That’s because payments in crypto right now are push payments.
One company who wants to enable automatic recurring crypto payments, without locking up funds is Loop.
With Loop, you can embed a simple payment link on your application which allows your customers to pay their recurring subscriptions - with no code required.
On Episode 42, I spoke with Loop’s CEO & Co-Founder Eleni Steinman
Topics covered;
- Eleni’s background and how he got interested with blockchain (2:24)
- Difference between push and pull payments (4:55)
- How does Loop automate recurring payments (6:24)
- How to integrate Loop (11:24)
- How to allow recurring payments using Loop’s SDK & API (14:14)
- Integration with ChargeBee for crypto subscriptions (15:26)
- Usage based subscription model (17:55)
- Invoicing & receipts automatically generated with Loop (19:09)
- Joining Web3CFO Club and network with high profile web3 CFOs (21:46)
- Crypto2Fiat and Fiat2Crypto autopay with Loop (23:28)
- Run payroll without involving multi-sig wallet owners (25:09)
- Use cases for crypto autopay (29:00)
- Barriers for adoption for Loop (32:15)
- What is a token allowance (33:23)
- Roadmap & upcoming features (34:45)
- How can a protocol like Request Network build on top of Loop (36:24)
- How to reach out to Loop (37:20)
Brought to you by
Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations
👉 Join now for in person events and grow your network at theaccountantquits.com/web3cfo/
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Twitter: https://twitter.com/loopcrypto_xyz
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Twitter: https://twitter.com/EleniThinks
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The Accountant Quits Podcast