Recurring workflows
Recurring payments are one of the most common workflows. Build true pull-based recurring payment workflows. Authorize once and pull payments based on the authorization schedule, simple and straightforward as it should be with no wrapping or deposit accounts needed, and works with both EOA and Smart Contract Accounts.
Challenge
Current blockchain infrastructure is push based and does not support automations necessary for pull payments natively. This forces sub optimal payment UX such as:
Payers need to manually push each payment on time, or risk disruptions to their business or service.
Payees get inconsistent payment timings, further affecting their own process.
Developers need to invest into recurring payment infrastructure to alleviate the pain.
Mutli-chain reality exacerbates this pain further.
Solution
Using authorizations and intent-based approach:
Everything from core payment workflows
Pull-based payments based on your desired recurrence factors. Payers authorize once.
Scheduling of payments at a certain time.
Notifications for each payment allowing you to execute any logic on your application.
Built-in fallback handling and dunning flow implementation.
Better clearing and execution benefits.
Recurring workflows are great for clearing
The unique level of information, predictability and advance noticed of recurring payments allows Paygrid to pre-clear them in advance, essentially getting you the best routing, execution prices and MEV capture/protection out of the box.
Use cases for recurring workflows
Use case: Subscriptions
One of the most common payment workflows everyone is familiar with, build products that allow subscriptions to be handled. Provide subscription billing products to your merchants, and a smooth and reliable pull payment mechanism for your payers. Whether you’re a SaaS or an online commerce, subscriptions with a high quality UX is bound to improve your conversion rates and value.
Benefits
For your merchants: Allow them to create any kind of subscription to their products.
For your payers: Authorize once to accept any subscription billing terms.
Support usage based subscription billing.
Fully extend chain abstracted payment benefits to both merchants and payers.
Subscriptions should be easy, painless, and predictable. No need to wrap any tokens, pre-fund any accounts and other workarounds. Clearing and chain abstracted payments extend the benefits even further giving you the ultimate bedrock to build powerful financial applications.
Use case: Lending and borrowing repayments (PayFi)
Lending protocols and application users face high friction managing repayments across different chains and assets. Current infrastructure forces borrowers to manually handle complex cross-chain operations to make their payments on time.
Benefits
Automate recurring repayments with single authorization for any schedule (eg instant, weekly, monthly).
High priority of payment clearing reliability to avoid liquidation or interest costs
Meet borrowers at their point of liquidity
Protect repayments from negative MEV exploitation
Optimize gas costs through batching and clearing
Enable cross-chain repayments without complexity
Support flexible asset choices for repayment reducing overall operational overhead.
Use case: Salary payments
Every finance team and business knows the overhead that can be involved in this. Build applications that allow your users to automate all this pain away.
Benefits
Batch payments: Significantly reduce network and gas costs by batching them during on-chain execution.
Payment automations: Set it and forget it with scheduling.
Consistent end-user experience: Payees get paid at the same time according to the schedule.
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