Lightspeed Payments is the simplest way to integrate your payment processing with Lightspeed Retail. Because Lightspeed Payments lives within Retail POS, this enables you to both run your business and manage your transactions all in one seamless Lightspeed experience.
The self-service application module is currently only available for US merchants. For all other applications, contact your sales representative to apply for Lightspeed Payments.
Required information to apply for Lightspeed Payments
In order to process your application as quickly as possible, it is important that you provide accurate information. The information you are required to provide includes:
- Document signer’s personal information: This includes your home address and SSN, as required by FINCEN. Lightspeed reserves the right to run a credit check if necessary.
- Legal Business Name: This is the Sole Proprietorship/LLC/Corporation name that you registered with the Secretary of State. Your business needs to maintain a status of Active or In Good Standing.
- Tax ID (FEIN): The Tax ID has to match your legal business name under IRS records. If we can’t find your Tax ID in IRS records, you can also provide your FEIN letter. This will be your SSN if you operate as a Sole Proprietorship.
- Business address: We need to verify your business operating location.
- Bank Account: A bank account associated with the Sole Proprietorship/LLC/Corporation name provided in the application is required. This is the account where your processed funds will be deposited.
In some cases, more information may be required to complete your application. The Lightspeed Payments Underwriting team will reach out to you if they need further clarification or if there is any information missing from your application.
Applying for Lightspeed Payments with the self-service application
- Login to your Retail POS using the Account Owner or other Admin user.
- Navigate to Setup > Payment types.
- In the Lightspeed Payments banner, click Set up Lightspeed Payments
- Select the Outlet you wish to use Lightspeed Payments in.
- Click Activate Payments
- Fill in all required fields and click Save and continue. Repeat this step until the entire application has been completed
- Review your application to ensure all information is correct and click Submit.
If you have multiple locations, repeat the application process for each outlet.
Your application will be reviewed in the order it was received. Once accepted, you will be notified via email and in the Lightspeed Payments Merchant Portal.
For steps on setting up Lightspeed Payments, refer to our Setting up the WisePOS E terminal with Lightspeed Payments for Retail POS (X-series) guide.
For more information on deposit schedules and payouts, refer to our Getting Paid with Lightspeed Payments for Retail POS (X-Series) guide.
Viewing the status of your Lightspeed Payments application
At every step of the application process, you can see the status of your application and what next steps you may need to take under Setup > Payments. Every status you see is for the application of a specific outlet. If you have multiple outlets, you can select View applications to see the status of all your outlets.
Here's an explanation of every status and the next steps they require.
Your application for Lightspeed Payments is incomplete
Here are the possible explanations and next steps:
- You haven't submitted an application yet. You can apply at any time by selecting Apply now.
- You submitted an application, but it couldn't be verified. You need to go back and enter the required information to verify your identity.
Your application for Lightspeed Payments is being reviewed
You submitted your application form, but you might need to provide additional information.
Your outlet is ready to set up Lightspeed Payments
Your application is conditionally or fully approved, but you need to set up your payment terminal.
Your outlet is ready to start accepting payments
You set up your payment terminal but haven't processed a transaction yet. We recommend running a few test transactions to make sure everything is running smoothly.
Your payout information is being reviewed
You can process transactions, but payouts are pending verification. You may need to confirm your banking details before sending your first payout.
Your outlet is processing with Lightspeed Payments
You're all set. Both Lightspeed Payments and payouts are enabled.
Your application for Lightspeed Payments was rejected
Based on the information you provided, we were unable to approve your application. Your Lightspeed Payments account was disabled, and any application processed until now will be refunded to your customer.