Lightspeed Payments is Lightspeed's integrated payment processor. With Lightspeed Payments, you can accept various payment methods directly within your Lightspeed K-Series POS, including credit and debit cards and contactless payments. Lightspeed Payments also provides features and services like integrated reporting and chargeback management. Lightspeed Payments is designed to simplify payment processing and streamline the checkout experience for your customers.

Account management

• Lightspeed Payments is a payment processor designed for Lightspeed POS. Unlike other payment processors, Lightspeed Payments integrates with Lightspeed POS, allowing you to manage your business and transactions in one seamless Lightspeed experience.

• Before you can process card payments with Lightspeed Payments, you will need to submit an application. Contact our Sales team to receive a link to the application via email. Lightspeed's underwriting team is legally required to collect certain information about your business and follow due process before we can approve your application and set up your account with Lightspeed Payments.

• No. Lightspeed Payments does not integrate with any other payment processor or POS system.

• 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 Sales Account Manager. If you want to change the bank account associated with your Lightspeed Payments account, contact payments.resolution@lightspeedhq.com with the following information:

  • Your legal name
  • DBA Name (the operating name of your business)
  • Your Lightspeed POS account ID
  • Phone number
  • A copy of a voided check or signed bank letter confirming the business account name, account number, and routing number.
    • The business account name on the check must match the legal entity/DBA provided in your Lightspeed Payments application.
    • We cannot accept starter checks as they do not confirm the account name.
    • Without a copy of a voided check or signed bank letter, we cannot make any changes to your account.

• To provide industry-leading support and technology and keep your business running smoothly, we now require merchants to use Lightspeed Payments. Merchants using non-Lightspeed Payments solutions will be charged a monthly third-party processing fee. To avoid this transaction fee, submit a Lightspeed Payments application to switch from your current processor before the end of your notice period. If you have any questions about these changes, contact your Sales Account Manager.

• For assistance with troubleshooting or questions about Lightspeed Payments, contact Lightspeed Support via chat or phone.

• In the event that you need to cancel your contract with Lightspeed Payments, please contact your Sales Account Manager.

Hardware

• Payment terminal compatibility depends on the country where you do business. View our Setting up Lightspeed Payments article to learn more. Lightspeed Payments payment terminals must be obtained from Lightspeed directly. Payment terminals purchased through third-party vendors are not supported. The following terminals are compatible with Lightspeed Payments:

  • Verifone e280
  • Verifone e285
  • Verifone P400
  • Castles S1F2
  • Verifone V400m

• Yes, you can use the Mobile Tap Card reader. View our Setting up Mobile Tap with Lightspeed Payments article to learn more.

Processing transactions

• By default, most major credit cards are accepted and automatically enabled for use with Lightspeed Payments. However, some third-party apps and payment types may require activation. Read our Enabling optional payment methods for Lightspeed Payments article to learn more.

• If a customer was double-charged by mistake, you can refund one of the original transactions in the POS by editing or voiding the receipt. If you believe a system error led to the duplicate charge, contact Lightspeed Support.

• Surcharging with Lightspeed Payments is in beta in Canada and the US and is only available to select accounts. To inquire about eligibility, contact your Sales Account Manager. Read our Surcharging with Lightspeed Payments article to learn more.

• Once you've set up your payment terminal for standalone payments, you can initiate a payment by entering the value of the transaction on the terminal, then handing it to your customer to complete the transaction. To learn more, view our Standalone payments article.

• To begin accepting manual entry payments, you must first enable the Lightspeed Payments - Adyen Manual Keyed Entry payment method in your Lightspeed Back Office. Once the payment method is enabled, you can process manual entry payments by following these instructions:

  1. From the Order screen, add all items and discounts to the sale.

  2. Tap Pay.

  3. Tap the Lightspeed Payments Manual Entry payment type.

  4. Enter the credit card number and expiration date on the terminal and complete the transaction.

• Once a refund to a customer's credit card has been initiated, the cardholder can expect their funds to settle into their account in 2-7 business days, depending on their bank's policies. 

Reporting

• There are two reports available for Lightspeed Payments merchants:

  • Payment Transactions report - The Payment Transactions report provides an overview of all payment transactions made with Lightspeed Payments. Users can search for transactions by date, the last four digits of the card number, or payment ID.
  • Settlements report - The Settlements report allows you to track when your transactions are processed and funded into your bank account.

  You can also use reporting automation to generate and send daily Lightspeed Payments reports directly to your email. Read our Automated reporting with Lightspeed Payments article to learn more.

• To understand how to read your Lightspeed Payment reports, visit the following articles: Understanding the Payment Transactions report and the Understanding the Settlements report.

Batching and deposits

• In general, settlements are deposited into your bank account two business days after the original transaction. However, a number of circumstances can affect this timeline. For more information on deposits, see our Getting paid article.

• If you suspect a fraudulent transaction was processed in your store, immediately contact Lightspeed Support. While preventing fraudulent transactions is not always possible, we recommend taking proper precautions. Read our Preventing chargebacks article to learn more.

• To change the bank account associated with your Lightspeed Payments account, contact payments.resolution@lightspeedhq.com with the following information:

  • Your legal name
  • DBA Name (the operating name of your business)
  • Your Lightspeed POS account ID
  • Phone number
  • A copy of a voided check or signed bank letter confirming the business account name, account number, and routing number.
  • The business account name on the check must match the legal entity/DBA provided in your Lightspeed Payments application.
  • We cannot accept starter checks as they do not confirm the account name.
  • Without a copy of a voided check or signed bank letter, we cannot make any changes to your account.

   

Chargebacks

• A chargeback occurs when a cardholder disputes a debit or credit card transaction on their account and the cardholder's bank reverses the transaction. Once a customer opens a dispute, the disputed funds and a chargeback fee are immediately debited from the merchant’s account. For more information, see our Guide to the chargeback process article.

• Once a cardholder has opened a dispute, our Lightspeed Payments team will reach out to you via email to discuss your next steps. To dispute the chargeback, you will need to provide evidence that the charge is legitimate. Our Lightspeed Payments team will walk you through the chargeback process.

• Chargebacks are a normal part of credit card processing, and it is difficult to avoid them entirely. However, maintaining PCI compliance and taking preventive measures in your daily business practices can significantly reduce the number of chargebacks you receive. For a list of preventive measures you can take to reduce customer disputes, see our article on Preventing chargebacks.

• If a dispute is opened against you, the Lightspeed Payments team will contact you via email to discuss your next steps. You can choose to dispute or accept the chargeback. For more information on managing chargebacks, see our Managing chargebacks article.

Miscellaneous

• The hardware and software provided by Lightspeed Payments is PCI compliant. However, you will need to take some steps to ensure you handle sensitive card information securely. For more information about PCI compliance and protecting customer payment information, see our Understanding PCI compliance article.