Questions about LavuPay? Check out our FAQ below, learn more about LavuPay on the Lavu website, or contact us if your question doesn’t appear below.
1. What are the requirements to apply for LavuPay?
To apply for a LavuPay account, you’ll need to:
- Be 18 years or older;
- Have a valid social security number (not a taxpayer identification number);
- Have a legal US residential address within the 50 states or Puerto Rico (we may make exceptions for active US military personnel stationed abroad); and
- Be a US citizen, US permanent resident, or have a valid US visa.
2. Why do I have to complete the LavuPay application?
Completing this application gives us the information we need to set up your account properly.
3. What is the fee?
Please visit the pricing page on our website for the current transaction fee.
4. When do I get paid?
As with credit card processing when you batch out each night, your funds will be deposited daily into your account. (If you batch out after 9:30 EST, you will see funds in a 24-hour turnaround. Saturday and Sunday funds will come in on Monday.)
5. Whom is the application with?
The application is through our funding agents of Card Connect and Verifone. Card Connect supports the U.S., Mexico, and Canada, and the First Data entity owns it. Verifone supports only in the U.S. They ensure your privacy and security. Your information is sent to them, and they handle the funding of your account when you batch out each night.
6. Why do you need my social security number?
We need to ensure that you are the owner of your business, and we are depositing funds into the right account: yours.
7. Why is the application so long?
The length of the application serves three purposes: 1) to ensure your security, 2) to confirm that you are the owner of your business, and 3) to verify that funds will be deposited into the correct business banking account. These are the checks and balances we go through to make sure we protect you.
8. It says there’s a three-year contract. Can I cancel at any time?
Yes, there is no early termination fee if you choose to cancel. The contract is used to lock in your rates, in case Visa and Mastercard raise their rates in the next few years.
10. What are the terms and conditions?
11. Do I have to change my other processing accounts?
You don’t have to change your other processing accounts. This is for MenuDrive only. You can keep your other processing relationships.
12. Whom can I reach out to with questions regarding funds, chargebacks, and refunds?
We have a Tier 1 and Tier 2 support staff that operates around the clock. They will be able to answer your questions.
13. What parts of the application are mandatory?
Most of the application is required, although you can bypass some sections.
14. What funding agent will I be processing my payments through?
First Data is the funding agent that supports the technology enabling credit card processing transactions.