Setting Up Payments

Before your customers can pay invoices online, or before you can pay vendor bills by ACH from Peasy, you need to set up payment processing. This verifies your business and connects the bank accounts Peasy can use for payment activity.

How to Get There

Go to Configure > Payment Settings in the sidebar.

Getting Started

When payments are not set up yet, go to Configure > Payment Settings and select Set up payments. If you've started before, you'll see Continue Setup in Peasy instead, which picks up where you left off. Either way, you enter your business and bank details directly in Peasy.

The setup process walks you through a few steps:

Business verification — Provide your business details (legal name, address, tax ID). This is required by payment regulations.
Business activity — Estimate payment volume, average and maximum transaction amounts, customer mix, card acceptance mix, fulfillment timing, and refund policy.
Representative verification — Verify the identity of a business owner or authorized representative.
Bank account connection — Connect the bank account where you'd like to receive customer payments and the account you want to use for eligible ACH payments. This step is optional — use Skip to continue and link a bank account later.
Documents — Upload any requested processing or bank statements from the past three months. Seasonal businesses should use their three busiest months.

Your progress is saved automatically as you go — you'll see a brief Saving draft... and then Draft saved. If you close the setup form and come back, Peasy restores where you left off.

The verification process may take a short time to complete. You'll be notified when everything is approved and ready to go.

Business Activity Details

The Business Activity step helps our payment processor understand how payments will flow through your business. Enter average and maximum transaction amounts as whole dollars, not cents or decimals.

The customer-type and card-acceptance percentage fields must each add up to 100%. If less than 80% of card payments happen In person, Peasy also asks how customers get their purchase, when they get it, and what refund policy applies.

Fixing Setup Issues

If payment setup is incomplete or more information is needed, Peasy shows the action needed to continue.

Use Continue Setup in Peasy when more information is needed. Peasy opens the setup step that matches the missing item, such as business details, owners and control, bank account, or documents.
When Peasy lists the specific items still needed, each item has a Fix link that takes you straight to the step that resolves it, so you don't have to click through the whole flow.
Requested documents should be uploaded in Peasy first. If Peasy upload does not work, the Documents step includes a link to the payment processor's fallback form.
If terms need to be accepted, Peasy shows an Accept Terms action before setup can finish.

What Happens After Setup

Once payments are active:

Your invoice emails will include a Pay Now link
Customers can pay online using bank transfer or card
You can use Pay Bill to send ACH payments to vendors that have a bank destination on file
Funds are deposited to your connected bank account
Payment statuses update automatically on your invoices

Managing Account Details After Setup

After your payment account is created, use Account Settings > Manage Account Details in Configure > Payment Settings to review your payment account.

Some business profile fields may be locked after verification starts. You can still update customer support details, payment settings, and connected bank accounts from payment settings.

Common Questions

How long does bank account verification take? Most bank accounts are verified within 1-2 business days. During this time, you can still use Peasy normally, but online invoice collection and Pay Bill may stay blocked until verification completes.

Which banks are supported? Peasy's payment processor supports most US banks and credit unions. If instant bank linking isn't available for your bank, you may need to complete verification manually instead.

What are the fees for receiving payments? Fees can change over time. Your business pays the processing fee for invoice payments based on how the customer pays, such as card or ACH. Peasy shows current rates in Configure > Payment Settings, so check there for the latest pricing during setup.

Is my banking information secure? Yes. Sensitive details like your bank and tax information are sent directly to Moov, Peasy's licensed payment processor, and are not stored on Peasy's servers. Payments are processed securely using bank-level encryption.

Good to Know

Payment setup is a one-time process — once you're verified, you're good to go.
Your business information is verified securely and is not shared with your customers.
If you need to link or change a bank account, go to Configure > Payment Settings and use the bank accounts section.
If a verified business profile field is locked and you need to change it, contact support.
Vendors do not need a full Peasy account to receive a bill-payment request. If they need to add a bank, Peasy emails them a secure vendor portal link.
Payment processing is optional — you can still use Peasy for inventory, purchasing, and sales without setting up payments.

Payments Overview — How payments work in Peasy
Payment Methods — Bank transfer vs. card payments
Payment History and Ledger — Tracking your transactions