Managing recurring payments for subscriptions, memberships, and other periodic expenses is often cumbersome, requiring constant tracking, manual payments, or reliance on centralized providers. Traditional subscription services can come with high fees, lack transparency, and limit control over funds. In addition, they don’t offer a way to use multiple currencies seamlessly, nor are they typically designed for decentralized or blockchain-based economies, where users may want full ownership over their payments without intermediaries.

The Solution:
This project, payzLoop, simplifies and automates recurring payments on the blockchain, allowing users to set up custom payment schedules with enhanced control and transparency. Users can fund a smart contract to automate payments to specified recipients at intervals they choose—weekly, monthly, or yearly. It eliminates the need to manually track due dates and ensures that each payment is made on time, every time, directly from the user’s wallet. The smart contract also supports automatic token conversions, allowing users to fund payments in one token and recipients to receive them in another.

With payzLoop, users get:

Control Over Funds: Funds remain secure in the smart contract, where users can withdraw any unused amount at any time.
Cost Savings: Low transaction fees associated with blockchain networks mean less cost compared to traditional payment processors.
Increased Security and Privacy: Blockchain technology provides robust security through smart contracts, while funds are fully under the user’s control—eliminating the need for third-party intermediaries.
Flexibility Across Currencies: Users can fund subscriptions in one cryptocurrency and have the recipient receive in another, supporting multi-token and cross-platform compatibility.