Overview
Loop Billing simplifies how your business collects payments from customers and partners. Instead of chasing overdue invoices or paying high card processing fees, you can automatically request and receive payments straight into your Loop account.
When you create a payment request, Loop securely manages the collection process — from sending the customer notification to pulling funds (with their consent) from their bank account on the scheduled payment date.
Funds are then deposited directly into your Loop account, making the process automated, transparent, and hassle-free.
How It Works
Add your customer (payor).
Go to the Request Payments section in your Loop dashboard.
Add the customer’s details, including:
Legal name
Contact email address
Create a payment request.
Enter key invoice details such as:
Invoice amount
Description or reference number
Scheduled payment date
Loop notifies your customer.
Loop sends a secure payment request to your customer on your behalf.
The message includes all invoice details and a secure link to provide payment consent.
Customer provides consent.
Your customer reviews the request and authorizes Loop to pull funds from their bank account.
They securely enter their bank information (ACH in the U.S. or EFT in Canada).
Funds are transferred automatically.
On the scheduled date, Loop debits the customer’s account and deposits the funds directly into your Loop account.
You’ll receive a confirmation once the payment is completed.
Benefits
Lower costs: Bank transfers are far cheaper than credit card payments.
Automated follow-up: No more manual chasing of overdue invoices.
Secure transfers: All payments are processed through trusted networks like ACH and EFT.
Simplified reconciliation: Funds settle directly into your Loop account, making bookkeeping easy.
Notes
Payment requests can only be made in supported currencies (e.g., CAD and USD).
Customers must provide explicit consent before any funds are debited.
Processing time depends on the payment network — typically 1–3 business days.
You can view all pending and completed requests in your Request Payments dashboard.
FAQs
Can I use Request Payment for international customers?
Currently, Request Payment supports domestic transfers in CAD and USD. International functionality may vary by region.
When will I receive the funds?
Funds are usually deposited into your Loop account within 1–3 business days after the scheduled payment date.
Does my customer need a Loop account?
No. Customers simply provide their banking details and consent through Loop’s secure link — no account setup required.
Are there fees for using Loop Billing?
Loop’s Request Payment feature avoids high credit card fees. Any applicable bank network fees are shown upfront.
Can I cancel or modify a payment request?
Yes. You can edit or cancel a pending request before the scheduled payment date from your dashboard.