Lightspeed Payments is Lightspeed's integrated payment processor. With Lightspeed Payments, you can accept various payment methods directly within your Lightspeed Retail R Series, 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.
This article is separated into seven sections listed below.
- Account Management
- Hardware
- Processing Transactions
- Reporting
- Batching and Deposits
- Chargebacks
- PCI Compliance
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.
How do I sign up for Lightspeed Payments?
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.
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?
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.documents.retail@lightspeedhq.com.
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 Retail 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.
Hardware
What payment terminals are compatible with Lightspeed Payments?
Payment terminal compatibility depends on the country where you do business. 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:
- WisePOS E (US, Canada)
- WisePad 3 (Canada)
- Mobile Tap/Chipper 2xBT (US)
- Verifone MX915 (US)
- Verifone P400+ (US, Canada)
Can I user a mobile reader with Lightspeed Payments?
Yes. You can use the Mobile Tap card reader. View our Setting up Mobile Tap with Lightspeed Payments article to learn more.
Processing Transactions
What payment methods are accepted with Lightspeed Payments?
By default, most major credit cards are accepted and automatically enabled for use with Lightspeed Payments.
A customer was double-charged, what do i do?
If a customer was double-charged by mistake, you can refund one of the original transactions in the POS. If you believe a system error led to the duplicate charge, contact Lightspeed Support.
How do i process manual payments with Lightspeed Payments?
To process payments manually, follow instructions for manually processing credit cards 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.
Reporting
What kind of reporting is available with Lightspeed Payments?
In the merchant portal, you can find two reports available for Lightspeed Payments merchants:
- Payments 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.
- Payouts allows you to track when your transactions are processed and funded into your bank account.
How do i read my reports?
To understand how to read your Lightspeed Payment reports, visit our Transactions and Payouts report article.
Batching and Deposits
When do i receive funds from credit card transactions?
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.
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 our Preventing chargebacks article to learn more.
How can i update or change my bank account information?
To change the bank account associated with your Lightspeed Payments account, contact payments.documents.retail@lightspeedhq.com.
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 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.
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 our article Managing chargebacks.
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 our Understanding PCI compliance article.
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