The Future of Payments: How Expanding Options Can Drive Your Business Forward

Introduction

Increasing demand for translations stems from companies striving to globalize, internationalize, and expand into new markets. Our AI translation tool serves this growing need by streamlining the translation process. As Web3 companies began approaching us for global expansion, another challenge emerged: the lack of crypto payment options.

Crypto subscription payments are rapidly becoming essential for businesses catering to blockchain-native industries. To remain accessible to crypto-native companies, we turned to Loop, a payment solution that not only supports crypto transactions but also integrates seamlessly with Stripe, extending support to regular credit card payments and traditional payment methods. In this blog, we will share why we made this decision, how it benefited our business, and the effortless process of enabling crypto payments with Loop.

Why We Wanted to Enable Crypto Payments

Expanding into the Web3 market means understanding its audience. Crypto-native businesses value flexibility and innovation, so offering traditional payment methods alone felt limiting. Here's why crypto payments became a priority:

Catering to Web3 Customers

Many Web3 companies are pushing boundaries by expanding to regions with emerging crypto adoption. These businesses often operate natively in cryptocurrency, so asking them to convert to fiat for subscription payments creates unnecessary friction.

Global Reach Without Currency Barriers

Crypto transcends borders, enabling customers to pay without dealing with currency conversions or hefty transaction fees. This is especially valuable for companies in regions with fluctuating fiat currencies or stringent banking regulations.

Competitive Differentiation

Supporting crypto payments allowed us to stand out by addressing the unique needs of Web3 companies. By accommodating their preferred payment method, we ensured our tool remained accessible and attractive to this growing customer base.

Why Loop's Stripe Integration Was a Game-Changer

Loop stood out because it didn't just enable crypto payments—it seamlessly integrated with our existing Stripe setup, while also supporting traditional payment methods like credit cards. Here's why that was important:

1. Simplified Billing Logic

Stripe already powers our subscription billing, with logic tied to the number of words translated each month. Rebuilding this system from scratch to support crypto or other payment methods would've been a monumental task. Loop directly leverages Stripe's infrastructure, so we didn't need to rethink our billing logic or create separate systems for crypto and fiat transactions. All we had to do was provide a Stripe API key and that's about it. Everything worked out of the box with our existing Stripe setup.

2. Unified Customer Management

With Stripe handling our customer data, we can track subscriptions, invoices, and payment statuses in one place. Loop's integration meant we could add crypto and alternative payment capabilities without creating separate workflows or databases for crypto-paying customers. This streamlined our operations and ensured we could offer the same quality of support to all customers.

3. All-in-One Checkout Experience

Using Loop's checkout page combined with Stripe provided a complete payment experience for both crypto and traditional payment methods, like credit cards, eliminating the need for us to develop separate UI components. Whether a customer pays with a wallet or a credit card, Loop handles it all seamlessly and redirects them back to our site, fully integrated with Stripe.

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The Setup Process: A Developer's Dream

Implementing a new payment method can often feel daunting, but Loop made it remarkably straightforward. Here's what the setup process looked like:

1. Setting Up Our Account

To start, all Loop needed from us were two key details:

• Our receiving wallet address for crypto payouts.
• Our Stripe API key, which allowed Loop to integrate directly with our existing Stripe setup.

This was all done in minutes, with no need for complex configurations or back-and-forth communication.

2. Integrating the Loop Checkout Page

Rather than embedding a widget, we opted to use the checkout redirect link for simplicity. With this method, users selecting "Pay with Crypto" during signup are redirected to a secure Loop-hosted payment page. Once the payment is complete, Loop redirects them back to our site, updating their subscription status in Stripe.

Here's why this flow worked perfectly for us:

• Ease of Use: We didn't need to design or host our own payment interface for either crypto or traditional payments.
• Quick Integration: All it took was replacing the Stripe checkout link with the Loop URL in our signup process.
• Secure and Scalable: The hosted page handles all payment complexities, from wallet connections to credit card transactions.

Other Considerations for Crypto Payments

Staying Aligned with Industry Trends

Accepting crypto payments isn't just about serving current customers—it's about future-proofing our business. As crypto adoption grows, having this infrastructure in place ensures our product remains relevant and accessible to a broader audience.

Monitoring Conversion Rates

One potential challenge is educating customers on the fluctuating value of cryptocurrencies. While crypto offers many benefits, ensuring pricing consistency in fiat terms is crucial. We've mitigated this by pegging subscription rates to fiat currencies, with Loop handling real-time conversion. Additionally, Loop enables stablecoin payments, which eliminates concerns about currency fluctuations altogether, providing customers with a seamless and predictable payment experience.

Conclusion: Why Loop Was the Perfect Fit

Enabling crypto subscription payments with Loop was one of the easiest and most impactful upgrades we've made to our product. By bridging the gap between Stripe and crypto, Loop allowed us to meet the unique needs of Web3 customers while still supporting traditional payment methods like credit cards—all with minimal development effort.

The Loop-hosted checkout page streamlined the entire experience for us. We didn't need to design a separate UI for crypto wallet payments or credit card transactions; Loop handled everything and ensured a secure, frictionless process for our customers.

If you're wondering how to accept crypto payments without overhauling your system, Loop offers an elegant solution. Whether you're running a subscription-based service or just want to attract a broader customer base, their seamless integration ensures you can expand payment options while keeping operations simple.

Are you ready to take your global business to the next level? Explore how crypto payments can open new markets for your company. Looking for an AI translation tool that's as adaptable as your business? Frenglish is here to help.