Getting paid with Lightspeed Payments for Retail POS (S-Series)

What is deposited and when?

Payment processors, card providers, and banks charge fees for transferring funds. Lightspeed Payments deducts those fees for you. By the time the deposit hits your account, all fees have already been paid, so the money in your account is all yours.

The details of how your earnings reach you can change depending on the payment terminal you use.

On a regular business day, the card payments you accept before that day’s cutoff time are sent to Lightspeed Payments and the process of transferring funds begins.

The cutoff time for all transactions is based on your region:

• • US: 3 AM EST
• • Canada: 12 AM EST
• • Australia: 12 AM local time
• • UK, Netherlands, Belgium: 12 AM UTC

This transfer of funds generally takes about 1 business day, so if a transaction happens on Tuesday, you can expect to see that money in your account on Wednesday. No activity happens over the weekend, so Friday, Saturday, and Sunday transactions will all be deposited on Monday as a single deposit.

What is handled by my bank?

The final part of this process (placing the deposit into your account) is handled by your bank. When a settlement shows the Funded status, your bank has received the funds but may have not yet processed the deposit into your account. Most banks will process this deposit within the 1-business day schedule described above, but there may be exceptions, particularly with smaller banks during periods of high activity.

Speak with your bank for more information about their processing timelines or if you see a Funded status in your report with no corresponding deposit in your account.

Note: Regional bank holidays may delay your payout schedule. In these cases, funds are ready to deposit but will be delayed until the next available business day.

Viewing payouts in the Payouts tab

In the Lightspeed Payments merchant portal, the Payouts tab displays a list of all payouts.

1. In Retail POS (S-Series), navigate to Finance > Lightspeed Payments > Payouts tab.
2. You can filter by date and sort by Date created or Amount in ascending or descending order.
3. For more information about a specific payout, click the date and time hyperlink in the payout line item to view the Payout details report. The Payout details report gives you an in-depth view of the transactions in that payout, including:
   • Payout amount
   • Payout status
   • Date created
   • Bank account
   • Processor ID
   • A summary detailing:

   – Payments

   – Refunds

   – Fees

   

   The report includes an overview of the payout for each payment method, including:

   • Gross Amount
   • Fees
   • Returns

   • Net Amount

   

   You can also find a list of every transaction and adjustment included in this payout. To see more details for a specific transaction, click the Payment reference link to access the Payment details report.

   

Troubleshooting payout delays

You can see the current status of a payout in the Finance page of Retail POS (S-Series) under Lightspeed Payments > Payouts. Each payout will show one of the following statuses:

• • In progress: This payout is still being processed.
• • FUNDED: This payout has been sent to your bank.
• • Error: There was an error processing this payout.

Please note that some banks may delay processing times depending on their capacity during periods of high activity.

If you see a Funded status in your report with no corresponding deposit in your account, you will need to contact your bank directly to troubleshoot the delay.

What’s next?

• • Processing payments with Lightspeed Payments
• • Processing a refund with Lightspeed Payments