Required information to apply for Lightspeed Payments

In order to process your application as quickly as possible, it is important that you provide accurate information. The information you are required to provide includes:

• 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.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company
    • Individuals who exercise significant control over your company
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • 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.
  • Beneficial Owners: We are required to capture the personal information of any individual that qualifies as a beneficial owner. Beneficial owners can include one or both of the following types of individuals:
    • Individuals who own 25% or more of your company
    • Individuals who exercise significant control over your company
      Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer.
  • 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

To apply for Lightspeed Payments, log in to each of the Lightspeed products you use and complete an application for each. It is best to apply in the order of Lightspeed Retail (R-Series) first, Lightspeed Golf second, and Lightspeed Restaurant (L-Series or K-Series) last.

After the first application, a new access code will be generated for each subsequent application. Use this code along with your email and business Tax ID to prefill information for the remaining applications.

Most applications are approved automatically within minutes. You will receive a notification if your application requires additional time to be reviewed.

If you are new to Lightspeed, look out for an email containing your login credentials or reach out to your Account Executive.
Please notify your Account Executive or Account Manager to order payment terminals after submitting your applications.

Applying for Lightspeed Payments for Retail (R-Series)

1. Log in to Lightspeed Retail (R-Series) as an owner or admin.
2. Navigate to Financial services > Lightspeed Payments.
3. Select the location you are applying for. You can apply for as many locations as you need to with one application.
4. Click Activate payments.

   

5. Enter your email address and click Continue.
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.

Applying for Lightspeed Golf Payments CNP

If you are currently processing payments through Stripe CNP, please notify your Account Manager before applying.

1. Log in to Lightspeed Golf as an owner or admin.
2. Navigate to Reports > Lightspeed Payments.
3. Enter your email address and click Continue.

   

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

Applying for Lightspeed Payments for Restaurant (L-Series or K-Series)

1. Log in to Lightspeed Restaurant as an owner or admin.
2. Navigate to Financial Services > Overview.
3. In the Lightspeed Payments banner, click Activate payments to begin your application.

   

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

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