> For the complete documentation index, see [llms.txt](https://docs.loopit.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.loopit.co/billing/payments/overview.md).

# Overview

Loopit currently supports the following payment providers and methods

| Provider     | Supported methods                  | Planned to support                |
| ------------ | ---------------------------------- | --------------------------------- |
| Stripe       | Visa, Mastercard, American Express | ACH, Bank transfer, Direct debits |
| Adyen        | Visa, Mastercard, American Express |                                   |
| Off platform | Cash, card, bank transfer          |                                   |

### Multiple providers

You can connect multiple providers to your workspace.  This allows you to use both off platform and other providers at the same time.  Different currencies can be configured to use different providers e.g. USD on Stripe, AUD on Adyen.

### Payment holds

Loopit supports the ability to take payment holds for deposits.  Holds on a card are typically used for security deposits.  You can configure any deposit charge on an invoice to be a payment hold instead of a capture.  Holds can be configured to be held up to a maximum of 7 days (\*5 days for Visa) which is typically the point a card provider, e.g. Mastercard/American Express, will automatically release the hold and the funds back to the card holder.  See [here](https://docs.stripe.com/payments/place-a-hold-on-a-payment-method#authorization-validity-windows) for Stripes hold periods.

{% hint style="danger" %}
Keep in mind holds are not guaranteed to be able to be captured - a card owner or issuer can reverse a hold at any point in time meaning you cannot capture the funds.
{% endhint %}

### Key dates and information

#### Payment status

<table><thead><tr><th width="200">Status</th><th>Meaning</th></tr></thead><tbody><tr><td>Initiated</td><td>Payment authorisation has started.  All payments have this status and quickly transition to another status.</td></tr><tr><td>Processing</td><td>Payment is being processed.  Cards are near real time, some methods like ACH and direct debits can be in this status for a number of days whilst the banks process the payment.</td></tr><tr><td>Success</td><td>Payment has been captured and the amount successfully taken</td></tr><tr><td>Failed</td><td>Payment has failed, a failure reason is available</td></tr><tr><td>Cancelled</td><td>Payment has been cancelled by a user or the bank e.g. direct debit</td></tr><tr><td>Held</td><td>Payment authorisation has occurred but the amount has not been captured.  Funds are typically available for capturing.</td></tr></tbody></table>

#### Payment success date

Date when the payment was successfully processed.

#### Payment failed at

Date the payment failed

#### Payment failure reason

If a payment has failed, the reason why it failed.

#### Timezone

All payment dates are stored in UTC.  Visually within the app the dates are shown relative to the owner of the payment, either the company or person timezone.  This ensures when communicating with a customer the dates are relative to the customer.