Stripe is the payment processor that Lumi uses if you have a US bank account. If your banking is not in the US, you'll receive payments from customers through Payoneer.
Lumi uses Stripe Connect to securely send funds from customers directly to your bank account. Stripe Connect is trusted by large marketplaces like Lyft, Shopify, Doordash, and Amazon.
Setting up a Stripe account is free and should only take 5-10 minutes, but you'll want to have a few pieces of information handy before you get started:
After logging in to Lumi, hover over or click on your avatar in the top right, then click Settings.
Click to the Payments tab, then click the button to Set up Stripe, and you'll be taken to the Stripe website.
If your company already has a Stripe account that you'd like to use for receiving payments from Lumi orders, you can login with that information. Otherwise, you'll need to create a new Stripe account.
After your account is created, you'll get an emergency backup code that you should save for future reference in case you have trouble accessing your account.
Tip: You can not go back to edit information, but you will have the opportunity to review and edit all the information you enter before completing the Stripe setup.
Next, you'll need to fill out various information about your business. This will take 5-10 minutes, and you'll need to have some specific information available:
Choose a business representative: Stripe is required to affiliate your account with a “beneficial owner” or “director.” This should be someone who has a manager or director, or executive role. You can read more about Stripe's beneficial owner definitions here.
To sign up for Stripe, you'll need the full name, email, job title, date of birth, and home address of your business representative.
Business and banking numbers:
To complete signup, review all of your information. If any of it is incorrect, you can edit it by clicking the little pencil to the right of that section.
When you've verified that all the information is correct, click "Submit," and you'll be taken back to Lumi. Now, your account setup is complete and you're ready to start accepting orders in Lumi!
In your inbox, you'll have an email to verify your contact information for your account. Click "Verify email address" in this email to complete the Stripe setup.
Finally, to accept bank payments from customers, accept Stripe's ACH Terms of Service by going to this page.