General FAQs

What is LocalPay?

LocalPay is a pay-by-bank solution that enables customers to pay retail merchants directly from their bank accounts.

• For Merchants: Faster settlement times and an alternative to high credit/debit card interchange fees.
• For Consumers: Instant discounts and local loyalty rewards.

Who can use LocalPay?

LocalPay is designed for both consumers and merchants:

• Merchants: Any business can sign up by entering their business details to start accepting direct bank payments.
• Consumers: Anyone can create an account in minutes using just their name and phone number.

What if my bank is not part of the LocalPay network?

Only one party in a transaction (either the merchant or the consumer) needs to belong to a LocalPay partner bank.

• If your bank isn't a partner yet, you can still sign up and transact, provided the counterparty's bank is a member.
• To help expand the network, ask your financial institution to contact us at contact@localpay.com.

Can I have both a Consumer account and a Merchant account?

Your LocalPay account is strictly tied to your mobile phone number, which serves as your unique login ID. A phone number can only be registered to one account type at a time. To operate both a consumer and a merchant account, you must register them using two distinct phone numbers.

Do I need to enter my routing and account numbers?

No. LocalPay integrates with Plaid to securely link your bank account using your institution's native online banking credentials.

• Your sensitive routing and account numbers are never exposed or stored.
• Once linked during registration, your account is saved for future use.
• You can manage or add multiple bank accounts at any time via the Stylus Icon on the homepage or under Settings > Manage Bank Accounts.