You were asked to Bind when setting up your LoopPay devices. Bind links your Accessory with your account and the App.
It builds the secure connection between them. Your LoopPay device cannot transmit a payment until it is bound to your account and at least one payment card has been swiped into the device. That single card will become your default payment card for Button Pay but you can also open the card and tap on its image to Tap to Pay.
When you swipe more payment cards, you have the option of making any of them your default card.
Erase or Unbind does the opposite of bind; it erases or unbinds all information stored on the device.
If you go to either Fob Settings or Accessory Settings (Card, CardCase,ChargeCase) you'll see a screen like this:
Note the Status is "bound". And the button below is "Unbind/Erase".
If your device were unbound, it would be noted here.
For more information on Bind, check out Settings Menu.
When your device is bound and connected, it's ready for payment.