To get started, you'll need to download the Lopay app on your smartphone or tablet from the AppStore or PlayStore. Once downloaded, open the app, select 'Register', and enter your details. You will then need to tick the box to accept the terms and select 'Continue' to create your Lopay account.
Once you've created your account you will be guided through onboarding to verify your identity and configure your account.
Tap the 'Complete setup' banner on your app homepage. You will then be guided through the following sections:
1) Business details
Select your business type and then choose the category/industry from the list available that best matches your business.
Enter the following details (as relevant) about your business:
Legal Entity Name - if your business is registered, you must enter the name exactly as it is registered, otherwise we may not be able to verify your account
Business / Trading Name - this is how you want to identify your business
TIN number - if relevant
Statement Descriptor - this is how your business will show on you customers' bank statement. It is critical that it enables your customer to easily recognise the transaction to reduce disputes/chargebacks.
Then select 'Save and continue' to progress.
2) Identity verification
Here you will be asked for more details about your business and the business owners.
Enter the following details (as relevant) about your business:
Business website - If you don't have a business website or social media presence, select 'no url?' just below and enter a description of your business in the box that appears.
Enter the personal details requested - these details must be the personal details of an Owner (+25%) of the business. Please note:
Home address - this must be your personal address, not your business address, otherwise we may not be able to verify your account
Identity verification - this has to be done via the app as a live selfie is required - we therefore cannot accept identity documents sent through email. You will need photo ID, such as your driving licence or passport.
If you get an error when trying to take a selfie, please ensure the Lopay app has access your camera. To do this, go to your Phone Settings, then Apps, then select Lopay and your primary web browser (e.g. Chrome) to ensure Camera is 'Allowed'.
3) Bank Account
Select Bank account to add the account where you want the funds in your Lopay account to be sent. You can choose from 2 ways to connect your bank account:
1) 'Open banking'
2) 'Manually add account'
To connect via Open banking, simply select your bank from the list shown and follow the steps in the app to connect your account.
Alternatively, select 'Manually add account' and enter your bank details such as your account number and sort code.
Once complete your Lopay payouts will be sent to the bank account you have connected.
Please note: Multiple bank accounts can be added later via the 'More' screen in the app. You will need to confirm the addition of a bank account via your email.
4) Account type
At Lopay, you control what you pay and when you get paid. Choose from the accounts below and change at any time. Please see our accounts comparison for full details.
Instant to Bank - Your earnings will automatically payout to your connected bank. Payouts are immediate 24 hours a day, 7 days a week, including bank holidays.
Standard - You control the weekday that your Lopay balance automatically pays out and you get instant access to your funds via your free Expense & Reward Card.
Essential - Your Lopay balance will automatically payout to your bank every Thursday. Your earnings are also instantly available to spend via your free Expense & Reward Card.
5) Payment methods
You will then be shown the different ways you can take a payment and you can order a device if you need one:
Our Business Terminal is a standalone device ideal for static businesses. Enter the charge on its touchscreen and the customer taps, swipes or inserts their card to pay. A dock is also available to secure the device to the countertop if required.
Our Card Reader is a smaller, Bluetooth device that's great for taking payments on the go. Enter the charge via the connected smartphone/tablet and the customer can then tap or inserts their card to pay.
Tap to Pay effectively turns your smartphone into a card reader so your don't need additional hardware.
To start taking payments, simply open the 'Charge' tab (2nd icon at the bottom of the app) and enter an amount. Select 'Charge' and then how you wish to take a the payment.
You can also now add a referral code if you have one - simply select the 'More' screen in the app and then 'Redeem a code'. For more details click here.
Please note: You should never pass your Lopay account on to someone else. The account owner who completed identity verification is liable for any disputes / chargebacks incurred by payments taken through your account.
For any further questions or help, please email us at [email protected].