Accessing Payments in Stripe
Lightspeed Ordering's payment partner is Stripe. Stripe is certified to the highest industry standards (PCI DSS Level 1 compliant) and handles billions of payments each year. As part of your venue's setup you'll need to create a Stripe account on the Billing page on Lightspeed Ordering's Venue Manager in order to receive payments from customers.
At the end of each day, funds will be settled into your Stripe account minus the payment fees on the Billing page on Lightspeed Ordering's Venue Manager (These rates apply to each transaction - they're not aggregated). Read this guide for more information on payment schedules, delays and account restrictions.
What's In This Guide?
Please note that your first payout via Stripe can take up to 7 days from the time of payment. This delay allows Stripe to mitigate some of the risks inherent in providing credit services.
When a payment is first received in your Stripe account, it's initially reflected as a pending balance. These payments become available within 2 days. Check out the table below for more information on payouts.
|Day of Order (*UTC)||Day of Payout|
|Saturday - Monday||Wednesday|
What Does it Mean When Your Account's Restricted?
Regulators require Stripe to run verification checks on your account. These checks are designed to prevent abuse of financial systems and to protect businesses and end-users. More information can be found here on support.stripe.com/questions/know-your-customer-obligations.
Stripe triggers these checks and they're largely based on your transaction volume and the amount of information that has not been verified.
If there's a problem, your account can be restricted in certain ways. These include:
- Payments Being Disabled - Funds will still be settled into your Stripe account, however, they will not be paid into your bank account.
- Charges Being Disabled - Stripe disables your account's ability to process customer payments. You will still be able to process orders and funds will be routed to a holding account on Lightspeed Ordering for dispersal later on.
You will be notified on Stripe and on Lightspeed Ordering's Venue Manager. You will also receive an email and notice no subsequent deposits made by Stripe in your bank account.
To resolve these issues, you will need to complete verification with Stripe. If your account has charges disabled and you've completed verification with Stripe, please contact us so that we can arrange transfers to your bank account.
Frequently Asked Questions
How many businesses use Stripe?
Millions of businesses from startups to large enterprises use Stripe’s software and APIs to accept payments, send payouts and manage their businesses online.
What's Stripe's uptime?
Stripe's systems operate 99.9%+ of the time.