Why is the authorization for more than the amount due today?

Companies use Loop Crypto to enable recurring subscription payments. By checking out via the Loop checkout pay, you are authorizing a specific amount of a token to be withdrawn from your wallet. This is known as setting an allowance. You can read more about this here.

For monthly subscriptions, companies will typically set a default of 13x the first payment amount. For example, if the monthly payment is $100, the authorization requested will be $1,300. This allows Loop to enable autopay. Next month, there is no new transaction to sign. Loop can use the authorization given to make your next month's payment of $100. This authorization is spent down over time. You can adjust your authorization at any time on Loop's customer portal.