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Payment Authorization

General concept · Payments, Clearing & Settlement · Wallets, Custody & Access · Last reviewed: September 2026

Payment authorization is the approval that permits a payment instruction or transfer to proceed under the rules of the relevant account, wallet, or payment system.

Explanation

In a self-custodial stablecoin wallet, authorization normally involves a valid digital signature or smart-contract permission. In a custodial service, the provider can authenticate the customer and execute the blockchain transaction on the customer's behalf. Programmable arrangements can also rely on preauthorized spending limits, multisignature approval, or rules that allow future payments within specified conditions.

Boundaries

Authorization approves the payment instruction. Authentication establishes that the person, device, or credential requesting the action is entitled to do so.

Why it matters

Authorization design determines who can move funds, what limits apply, and how recurring or automated stablecoin payments can operate safely.

Example

A user can sign a stablecoin transfer directly or grant a smart contract a limited allowance that permits later payments up to a specified amount.

Related terms

Sources

  1. Regulation of Crypto Assets. International Monetary Fund, IMF FinTech Note No. 2019/003, 2019. Institutional analysis
  2. Programmability in Payment and Settlement. International Monetary Fund, IMF Working Paper WP/24/177, 2024. Institutional research (authors' views)
  3. Joseph Bonneau, Andrew Miller, Jeremy Clark, Arvind Narayanan, Joshua A. Kroll, and Edward W. Felten. SoK: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies. IEEE, 2015 IEEE Symposium on Security and Privacy, pp. 104-121, 2015. doi:10.1109/SP.2015.14 Peer-reviewed research
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