Before you can begin processing card payments with Lightspeed Payments, you will need to fill out an application. After speaking with our sales team, you'll receive a link to the application via email. Lightspeed's underwriting team is required by law to collect certain information about your business and to follow due process before we can approve your application and set up your account with Lightspeed Payments.

Once completed, the application lives in a secure portal and all information gathered is used for underwriting purposes only.

Information we are required to collect

The information we collect as part of your application will differ slightly from region to region due to the differences in local laws and governmental bodies.

• Required information in Australia

  In order to process your application as quickly as possible, it’s important that you provide accurate information. The information you'll be required to provide includes:

  • Document signer’s personal information: This will include their home address and date of birth. Lightspeed reserves the right to run a credit check if necessary. An identity document (such as a passport or driver’s license) may be required.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals. The exact rules vary by country, but beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company
    • Individuals who exercise significant control over your company
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • Legal Business Name: This is the name of the entity that you registered with the appropriate authorities (e.g. ASIC or ABRS)
    • If the entity is a Trust, we will also need to collect your trust document(s)
  • Tax ID and/or Registration number: Depending on your legal entity type, you may need to register for an ABN (Australian Business Number), an ACN (Australian Company Number), or a TFN (Tax File Number). 
  • Business address: We need to verify your business operating location.
  • Bank Account: A bank account associated with the legal entity name provided in the application is required. This is the account where your processed funds will be deposited. 
    • You will be required to upload an image (voided cheque, bank letter, bank statement or online banking environment) of your banking information. This image must have the following information visible:
      • Bank name & logo
      • BSB and Account Numbers
      • Business legal entity name

  New businesses may need to provide additional documents:

  • Proof of occupancy: For example, a lease agreement that proves you are opening at a specific address.
  • Proof of legitimacy: Something to show what type of business you are running. This could be a liquor license, food and beverage license, building permit, banking documents, or another legal document.

  Our underwriting team will reach out to you if they need further clarification or if anything is missing in your application.

• Required information in Canada

  In order to process your application as quickly as possible, it’s important that you provide accurate information. The information you'll be required to provide includes:

  • Document signer’s personal information: This will include their home address and date of birth, as required by FinTrac. Lightspeed reserves the right to run a credit check if necessary.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals. The exact rules vary by country, but beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company.
    • Individuals who exercise significant control over your company.
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • Legal Business Name: This is the Sole Proprietorship/LLC/Corporation name that you registered with the provincial or federal business registry. Your business needs to maintain a status of Active or In Good Standing.
  • Tax ID (business number): If you qualified for registration or voluntarily registered with the Canada Revenue Agency (CRA), you can provide your Tax ID. This has to match your legal business name under CRA records. If we can’t find your Tax ID in CRA records, you can also provide a copy of a CRA document with your business number on it.
  • 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.
    • You may be required to upload an image (voided cheque, bank letter, bank statement or online banking environment) of your banking information. This image must have the following information visible:
      • Business legal entity name or DBA name
      • Transit Number
      • Financial Institute Number
      • Account Number

  New businesses may need to provide additional documents:

  • Proof of occupancy: For example, a lease agreement that proves you are opening at a specific address.
  • Proof of legitimacy: Something to show what type of business you are running. This could be a liquor license, food and beverage license, building permit, banking document, or another legal document.

  Our underwriting team will reach out to you if they need further clarification or if anything is missing from your application.

• Required information in the UK

  In order to process your application as quickly as possible, it’s important that you provide accurate information. The information you'll be required to provide includes:

  • Document signer’s personal information: This will include their home address and date of birth. Lightspeed reserves the right to run a credit check if necessary. An identity document (such as a passport or national identity card) may be required.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals. The exact rules vary by country, but beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company.
    • Individuals who exercise significant control over your company.
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • Legal Business Name:
  • This is the name of the entity that you registered with the appropriate authorities (e.g. Companies House, Chamber of Commerce).
  • Tax ID and/or Registration Number: Depending on your jurisdiction, you may have either a tax ID or a registration number assigned to your business.
  • 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.
    • You may be required to upload an image (voided cheque, bank letter, bank statement, or online banking environment) of your banking information. This image must have the following information visible:
      • • Business legal entity name or DBA name
        • Routing number
        • Account number

  New businesses may need to provide additional documents:

  • Proof of occupancy: For example, a lease agreement that proves you are opening at a specific address.
  • Proof of legitimacy: Something to show what type of business you are running. This could be a liquor license, food and beverage license, building permit, banking document, or another legal document.

  Our underwriting team will reach out to you if they need further clarification or if anything is missing from your application.

• Required information in the United States

  In order to process your application as quickly as possible, it’s important that you provide accurate information. The information you'll be required to provide includes:

  • Document signer’s personal information: This will include their home address and SSN, as required by FINCEN. Lightspeed reserves the right to run a credit check if necessary.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals. The exact rules vary by country, but beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company.
    • Individuals who exercise significant control over your company.
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • 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.
    • You may be required to upload an image (voided cheque, bank letter, bank statement, or online banking environment) of your banking information. This image must have the following information visible:
      • • Business legal entity name or DBA name
        • Routing number
        • Account number

  New businesses may need to provide additional documents:

  • Proof of occupancy: For example, a lease agreement that proves you are opening at a specific address.
  • Proof of legitimacy: Something to show what type of business you are running. This could be a liquor license, food and beverage license, building permit, banking document, or another legal document.

  Our underwriting team will reach out to you if they need further clarification or if anything is missing from your application.

Making changes to an existing Lightspeed Payments account

To make changes to your legal business name or tax information, or in the event of ownership changes, you must complete a new Lightspeed Payments application. For more information, contact your Account Manager.

If you want to change the bank account associated with your Lightspeed Payments account or update your address, contact payments.resolution@lightspeedhq.com. The information required to make changes to your account will vary depending on the region you are in.

• Bank account changes

  Please email payments.resolution@lightspeedhq.com with the following:

  • Business legal entity name
  • DBA name
  • Lightspeed Retail ID
  • A copy of your bank statement or a photo of your online banking portal that confirms the following:
    
    • Business Name
    • Bank name and logo
    • BSB number
    • Bank Account number
      Note: The business account name on the document must match the legal entity/DBA provided in the Lightspeed Payments application.

  Address changes

  Please email payments.resolution@lightspeedhq.com with proof of the address tied to the business.

  Acceptable documentation includes:

  • Utility bill
  • Business license 
  • Leasing agreement

• Bank account changes

  Please email payments.resolution@lightspeedhq.com with the following:

  • Business legal entity name
  • DBA name
  • Lightspeed Retail ID
  • A photo of a pre-printed void check, a bank statement, a pre-authorized debit form, or a bank letter that confirms the following:
    
    • Business Name
    • Transit Number
    • Financial Institute Number
    • Bank Account number
      Note: The business account name on the document must match the legal entity/DBA provided in the Lightspeed Payments application.

  Address changes

  Please email payments.resolution@lightspeedhq.com with proof of the address tied to the business.

  Acceptable documentation includes:

  • Utility bill
  • Business license 
  • Leasing agreement

• Bank account changes

  Please email payments.resolution@lightspeedhq.com with the following:

  • Legal entity name
  • DBA name
  • Lightspeed Retail ID
  • A copy of your bank statement or a photo of your online banking portal that confirms the following:
    • Business name
    • Bank name and logo
    • Sort code and account number or full IBAN
      Note: The business account name on the document must match the legal entity/DBA provided in the Lightspeed Payments application.

  Address changes

  Please email payments.resolution@lightspeedhq.com with proof of the address tied to the business.

  Acceptable documentation includes:

  • Utility bill
  • Business license 
  • Leasing agreement

• Bank account changes

  Please email payments.resolution@lightspeedhq.com with the following:

  • Legal entity name
  • DBA name
  • Lightspeed Retail ID
  • A photo of a pre-printed void check or a bank letter signed by a named bank representative on bank letterhead paper that confirms the following on one page:  
    • The account number
    • Routing number
    • Business account holder information (or account name).
      Note: The business account name on the document must match the legal entity/DBA provided in the Lightspeed Payments application. We cannot accept starter checks as valid documentation as they do not confirm the account name.

  Address changes

  Please email payments.resolution@lightspeedhq.com with proof of the address tied to the business.

  Acceptable documentation includes:

  • Utility bill
  • Business license 
  • Leasing agreement