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Lightspeed Payments application FAQs

Completing the application for Lightspeed Payments swiftly and accurately ensures you can start processing transactions sooner rather than later. Once the Lightspeed Payments team has received, reviewed, and approved your application, your hardware will be sent to you. Therefore, it’s crucial to ensure your application is complete and accompanied by any relevant supporting documentation. To help make the process as smooth as possible, we’ve answered some of the most frequently asked questions.

Why have I received a PCI compliance email?

The payment card industry data security standards (PCI DSS) were established by the PCI Security Standards Council (SSC) to protect cardholder data. All of the hardware and software that Lightspeed Payments provides is PCI compliant. However, there are certain steps you'll need to take to make sure you are handling sensitive card information responsibly. Please head to our About PCI compliance page for more information on the requirements and Lightspeed’s policy.

You must complete the PCI screening questions to complete your Lightspeed Payments application.

How long does it take to process the Payments application?

Once you have completed your digital Payments application form (which takes 5-10 minutes), your application will join the processing queue with our underwriting team. Generally, applications are assessed within two business days, but this can vary depending on the volume of the assessments in the queue. If the application form is filled in correctly and with all necessary documentation, you can expect to receive immediate approval. However, if the underwriting team requires further information or documentation, they will reach out to you with further instructions. If your application is considered urgent (opening in 2-5 business days, for example) we can flag this as a priority.

How do I know if my application has been successful?

Once approved, you will receive a conditional approval email from us. Once you are conditionally approved, we will then organize for your payment terminals to be shipped to your nominated address.

What do I need to complete the application?

To ensure you have all the necessary documentation and information required for your application, please ensure you have the following:

  • All individuals who own 25% or more of the business must be listed on the application. We require copies of valid IDs (in color, front and back) dated within the last 12 months for each listed owner on the application. These copies must be uploaded to the application form.
  • Your business banking document with your business entity name, bank logo, and BSB and account number. The first page of your bank statement is preferred.
  • If your ABN is linked to a trust, please also provide a signed copy of your trust deed, as we may validate the ownership details.
  • Proof of trade of the business being tied to the trading address. This can be in the form of a signed copy of the lease, a supplier invoice, a utility bill, an insurance certificate, and/or social media that shows the address.

Failure to provide the required documentation will result in your application being rejected.

When will I receive the Payments terminals?

Once Underwriting has approved your application, your Payments terminals will be shipped to the designated shipping address. You can expect to receive them within 3-5 business days. You will be sent a tracking/shipping link by email which you can use to check on the progress of your shipment.

You must complete the PCI screening questions to complete your Lightspeed Payments application.

What's next?

Once you've received your terminals, you can start Setting up Lightspeed Payments. You can also learn more about Getting paid with Lightspeed Payments

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