In this paper, we propose an efficient payment scheme for sustaining cooperation in finitely many times repeated Prisoner's Dilemma games. The scheme is part of a preplay arrangement that also defines the strategy that the two players should implement during the game. We consider two possibilities, namely, the limited retaliation strategy and the grim trigger strategy. Both strategies prescribe to play cooperatively, unless a defection is observed in which case both players switch to their noncooperative strategies, for an endogenously determined number of stages in the case of the limited retaliation strategy and until the end of the game in the case of the grim trigger strategy. We compare the results generated by the two strategies and determine the minimal number of stages needed to guarantee the existence of the payment scheme. We consider both discounted and undiscounted payoffs.