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, Peasy may show two setup options:

• Set Up with Moov — Opens Moov's guided verification experience.
• Set Up in Peasy — Opens Peasy's guided setup form for entering business and bank details directly in Peasy.

The setup process walks you through a few steps:

1. Business verification — Provide your business details (legal name, address, tax ID). This is required by payment regulations.
2. Representative verification — Verify the identity of a business owner or authorized representative.
3. 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.

Moov will ask for processing or bank statements from the past three months; seasonal businesses should use their three busiest months.

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

Fixing Setup Issues

If payment setup is incomplete or more information is needed, Peasy may show options such as Resolve with Moov, Fix in Peasy, or Open Resolution Form.

• Use Resolve with Moov or Open Resolution Form when Moov needs you to complete a hosted verification step, such as accepting terms or uploading requested documents.
• Use Fix in Peasy when the missing information can be reviewed or corrected directly in Peasy.

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 Moov 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. Peasy doesn't store your bank credentials. Payments are processed through a PCI-compliant payment processor, and your bank account is connected 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 Moov locks a verified business profile field that you need to change, 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.

Related

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