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 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 your home address and SSN, as required by FINCEN. Lightspeed reserves the right to run a credit check if necessary.
  • 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 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:
      • • 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 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 your home address and date of birth, as required by FinTrac. Lightspeed reserves the right to run a credit check if necessary.
  • 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 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:
      • 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 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.

Applying for Lightspeed Payments with the self-service application

1. Login to your Retail POS using the Account Owner or other Admin user.
2. Navigate to Financial services > Lightspeed Payments.
3. In the Merchant Portal, click Activate payments.
   
4. Select the location or locations you wish to use Lightspeed Payments in.
   

   Merchants with a single business location will have their location chosen by default.

5. Click Activate Payments.
6. Fill in all required fields and click Save and continue. Repeat this step until the entire application has been completed
7. Review your application to ensure all information is correct and click Submit.

Your application(s) will be reviewed in the order they are received. Once accepted, you will be notified via email and in the Lightspeed Payments merchant portal.

For steps on setting up Lightspeed Payments, refer to our Setting up Lightspeed Payments guide. For more information on deposit schedules and payouts, refer to our Getting paid with Lightspeed Payments  guide.