Lightspeed Payments is Lightspeed's integrated payment processor. With Lightspeed Payments, you can accept various payment methods with Lightspeed eCom (C-Series). 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
- What is Lightspeed Payments?
Lightspeed Payments is a payment processor designed for Lightspeed. Unlike other payment processors, Lightspeed Payments integrates with Lightspeed eCom, allowing you to manage your business and transactions in one seamless Lightspeed experience.
- How do I sign up for Lightspeed Payments?
Before you can process card payments with Lightspeed Payments, you will need to submit an application. We are 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.
- Can I use Lightspeed Payments with my existing payment processor?
No. Lightspeed Payments does not integrate with any other payment processor or POS system.
- How can I change my Lightspeed Payments account information?
You can edit your bank account and business information in the Financial Services tab of your account by navigating to Financial Services > Settings.
- Is Lightspeed Payments mandatory? What are gateway fees?
To provide industry-leading support and technology and keep your business running smoothly, we’re unifying Lightspeed POS systems and Lightspeed Payments. Merchants using non-Lightspeed Payments solutions will be charged a monthly third-party processing fee. To avoid this processing 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.
- How can I get help with Lightspeed Payments?
For assistance with troubleshooting or questions about Lightspeed Payments, contact Lightspeed Support via chat or phone.
- How can I cancel my Lightspeed Payments account?
In the event that you need to cancel your contract with Lightspeed Payments, please contact your Sales Account Manager.
Transactions and reporting
- What payment methods are accepted with Lightspeed Payments?
By default, most major credit cards are accepted and automatically enabled for use with Lightspeed Payments.
- How long does a credit card refund take to process?
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.
- What kind of reporting is available with Lightspeed Payments?
Merchants using Lightspeed Payments can access their payment reports via the Lightspeed Payments Finance portal in Back Office. Learn more in our Reporting with Lightspeed Payments article.
Batching and deposits
- When do I receive funds from credit card transactions?
In general, settlements are deposited into your bank account one business day after the original transaction. However, a number of circumstances can affect this timeline. For more information on deposits, see our Getting paid article.
- How do I dispute a transaction or report fraud?
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 Preventing chargebacks (Retail article) to learn more.
- How can I update or change my bank account information?
To edit your bank account information, navigate to the Financial Services tab of your account to add a new bank account.
Chargebacks
- What is a chargeback?
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 (Retail article).
- How do I dispute a chargeback?
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.
- How do I prevent chargebacks?
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 (Retail article).
- How do I manage 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 Managing chargebacks (Retail article).
PCI compliance
- What security measures are in place to protect my customer's payment information?
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 Understanding PCI compliance.
Downloading 1099-K tax documents
US only
- What is a 1099-K form?
The 1099-K is a tax document that all businesses in the US are required to submit to the IRS annually. It outlines payment transactions for the year.
- Where can I find my 1099-K form in Retail POS?
If you misplace or don't receive the 1099-K document that is mailed to you, you can download an identical copy through Financial Services:
- Navigate to Finance > Lightspeed Payments.
- Click the Documents tab.
- Click Download beside the document you require.
The document will download to your computer.
- The information on my form is incorrect. What do I do?
You should visit the IRS website for information about changing information on a 1099-K to understand potential implications this could have. Lightspeed Support may be able to assist in correcting some information but there may be limitations to what Support can change.