Getting paid with Lightspeed Payments (beta)
After you set up Lightspeed Payments in your Ecwid store, you can start accepting payments from your customers. After the payment is processed, money will be transferred to your account.
When a customer pays with Lightspeed Payments, you will see the transaction information on the Finance page in your Ecwid admin. All payments will be automatically deposited into your bank account within 2 business days. When you get your first payout, it may take up to four business days.
The payout is the transaction amount, less associated fees. Lightspeed Payments has the lowest fees compared to other payment methods—2.6% + $.30 per online transaction.
To estimate the date you will receive the funds for a specific transaction, add two business days after the cutoff time. The cutoff time for all transactions is 11:59 PM EST. Transactions made on weekends and holidays are sent at the cutoff time of the following business day (i.e. Monday for weekends):
|Transaction date||Deposit date|
|Saturday and Sunday||→||Wednesday|
To get a better understanding on what’s going on with your finances, you can check the current payout status on the Finance page in your Ecwid admin. 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.