Helpful Hints for Lightspeed Payments

ThomasFromPaymentsThomasFromPayments Member, Moderator, Lightspeed Staff Posts: 3 moderator

Lightspeed Payments offers your business a fully integrated merchant solution, for your credit and debit processing. However, there are many features in Lightspeed Payments, that may differ from the merchant solutions you have been accustomed to using with your business. This article will contain information on the unique features of Lightspeed Payments, as well as helpful hints for getting familiar with our merchant solution.

 We also recommend looking through our help page article, entitled Getting Started with Lightspeed Payments, for helpful resources for getting started.

Before getting set up with Lightspeed Payments

If you require assistance with your Lightspeed Payments application, our team is here to help you. Please send an email to [email protected], for further assistance. One of our representatives will follow up with your request, as soon as possible. You can also receive help on your application, from your account manager, here at Lightspeed.

Activating your Lightspeed Payments account

As Lightspeed Payments is fully integrated with your Lightspeed account, account activation is done completely on our end. Once your business has been approved for Lightspeed Payments, our technicians will work behind the scenes, to make sure your account is properly set up. This means that you will no longer be required to obtain and enter merchant credentials, for credit and debit processing. We will alert you once your account has been activated, so that you can connect your Lightspeed Payments hardware and set your payment gateway. Instructions for both the aforementioned steps are provided below.

Tying your bank account to Lightspeed Payments

When applying for Lightspeed Payments, we request banking information, so as to confirm the validity of incoming merchant applications. By default, this bank account will be the destination for batch deposits from Lightspeed Payments. If the bank account you included on the application is not the one you wish to use for deposits, please send your request to [email protected]. Please be sure to include either a void cheque, a transit authorization form (pre-authorized debit form for Canadian customers) or a signed bank letter. The documents need to include your routing number, account number, legal name, and billing address. Please note, the account you provide must allow for both deposits and withdrawals, for it to be valid.

Setting up your payment hardware

To get your Lightspeed Payments hardware set up, we recommend consulting our help page article, on Setting up your Lightspeed Payments hardware. Our Frontline Support team can also provide additional assistance, for getting set up. Contact information for our support teams can be found here.

Getting up the gateway

When your Lightspeed Payments service has been activated, your account will not be automatically set to our payments gateway. Therefore, payments made through Lightspeed will not automatically be set to process through Lightspeed Payments. In this case, you will need to go into your back end and activate Lightspeed Payments.

For instructions on setting your Retail account to Lightspeed Payments, please view this link.

For instructions on setting up your Restaurant account to Lightspeed Payments, please view this link.

Lightspeed Payments for eCommerce

If you have Lightspeed Payments set up for your Retail account, and need to activate it for your online store, please contact our Frontline Support team. The average turnaround time, for activating online and card-not-present payments, is 24 hours. We will alert you, once online payments become available. It is important to ensure you have store policies, such as shipping, refunds, privacy, and terms and conditions, published on your website. If your site does not have the aforementioned data clearly available, there could be delays in treating your request.

Getting Paid

Another unique feature of Lightspeed Payments is the manner in which funds are transferred to your bank account. Once you have accepted a payment, the funds will be held until batch out time, at end of day. From there, we will keep your money safe for an extra business day, before sending it to your bank account. Therefore, it will take two business days, for a payment to be deposited in your bank account. 

To help better understand this, we have more detailed information and visual aids, in our help page article on Getting Paid.

Processing Fees

With Lightspeed Payments, we apply fees to each settlement, before they are deposited into your account, so that you will not have to worry about them, at the end of the month. For this reason, your bank account deposits will not match up exactly with certain reports, within Lightspeed.

Balancing your books becomes easier, if you access our unique reports, which are only available to Lightspeed Payments users. For example, the Settlements report will show you how much was processed, what fees were applied, and how much is being deposited in your account. Moreover, this report will allow you to bring up individual settlements, so as to see which transactions were included. For more information, please view our article on Understanding the Settlement report.

We also provide a report which shows details on individual transactions. The Integrated Payments report will provide you with information regarding any transaction done through Lightspeed Payments, regardless of whether it was successful. Selecting each transaction will show you information, such as the card brand used, amount, time and date it was processed, and the last 4 digits of the card. More information on this report can be found in our article, on Understanding the Integrated Payments report.

Your fees are listed on the quote, which was provided when signing up for Lightspeed Payments. If you require the quote to be resent, please contact your account manager.


  • DeliveranceDeliverance Member Posts: 3

    FYI, there is no current way to reconcile the LS accounting data with the payment data because LS doesn't provide a report with enough detail. You'd have to manually click into every batch on the screen in LS to see what sales they tie out with. Until they can demonstrate there is a date range detailed report which can be exported I'd use a different processor who can actually give you a report about your money.

  • eddiesuarezeddiesuarez Member Posts: 10

    I'm having the same issue as deliverance. Impossible to reconcile daily sales and deposits.

  • theuboattheuboat Member Posts: 5

    Has Lightspeed Payments provided a customizable, date range report to be used for reconciliations yet?

  • pmjpmj Member Posts: 12

    The payment terminals available to Canadian LS users is only a wired terminal vs the wireless available in most other countries. Can someone please resolve this issue? LS is losing a lot of potential revenue from clients in cases where a wireless handheld one makes more sense operationally. Also, we should be able to enter cheque numbers and other reference numbers when entering payments in the enter payment screen. I understand that LS support has identified another work-around - please stop the non-sense in recommending workarounds and actually upgrade to application.

  • VD_LSVD_LS Administrator, Moderator, Lightspeed Staff Posts: 796 moderator

    Hey @pmj

    These are great enhancement requests, I recommend making a thread for this on the Feedback forum so it can be considered as such.


    If you have any further questions Please do not hesitate to contact LightSpeed support or check out our Support Page.

    All the best!


    Lightspeed Retail Support

    866-932-1801 ext. 2 (Toll-Free)

    514-907-1801 ext. 2 (Montreal)

  • RainflurryRainflurry Member Posts: 30

    @theuboat - There is a payout report (Reports>Lightspeed Payments>Payouts) that allows you to select a date range for reconciliations.

    Merchant fees are taken out as well the subsequent day's refunds prior to the deposit being made so it takes a little additional work to match them, but it's not a big deal. After a few reconciliations, it makes sense and goes quick. Prior to switching to LS Payments, I was used to reconciling payouts where the merchant fees were a separate transaction. That made reconciling a breeze. The more favorable LS Payments rates make it a fine trade-off for us.

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