LQpay is a healthcare-focused payment technology company that provides integrated credit card and digital payment processing for medical, dental, and veterinary practices. The descriptor “LQ MERCHANT DEPOSIT” typically refers to funds LQpay is depositing into a merchant’s bank account, not a consumer purchase charge.
Fort Lauderdale / Plantation, Florida, United States
LQpay is a financial technology company specializing in payment solutions for healthcare providers, including medical, dental, and veterinary practices. Its platform integrates with existing practice management and EMR/EHR systems to handle in-office card payments, text‑to‑pay links, card‑on‑file, recurring payment plans, compliant surcharging, and automated posting of payments back into patient accounts. By focusing on healthcare workflows, LQpay aims to improve collections, shorten payment cycles, and reduce administrative burden for practices.([cbinsights.com](https://www.cbinsights.com/company/lqpay?utm_source=openai))
On bank statements, an entry labeled “LQ MERCHANT DEPOSIT” most often represents a payout or deposit initiated by LQpay into a business’s bank account, aggregating card or digital payments that were processed through its system. In other words, this line usually reflects money being credited to a merchant (such as a clinic or practice) rather than a consumer‑side purchase. For a practice, you would see these deposits in your business checking account, not as charges on a card; they correspond to batches of patient payments settled through LQpay’s processing services.
If you’re reconciling your books and have questions about an “LQ MERCHANT DEPOSIT” entry, the best approach is to log into your LQpay portal and review daily or batch settlement reports, which show which individual patient transactions rolled up into each deposit. You can also match the date and amount of the bank deposit to LQpay’s reports. If something doesn’t reconcile, contact LQpay support by phone or email so they can review the specific deposit ID and provide a breakdown of transactions. Practices should also confirm that their bank account details in the LQpay portal match the account where deposits are landing to avoid confusion when reviewing statements.([lqpay.ai](https://www.lqpay.ai/support/?utm_source=openai))
Bank Statement Variations
1 known variations
These are the raw merchant codes that appear on bank and credit card statements that we've identified as belonging to LQpay.
What does an “LQ MERCHANT DEPOSIT” entry on my bank statement mean?
An “LQ MERCHANT DEPOSIT” entry generally indicates that LQpay has deposited funds into your business bank account for card or digital payments processed through its platform. It is typically a batch settlement of multiple patient or client payments rather than a single transaction, and usually appears as a credit in your checking account rather than a debit on a credit card.
How can I see which transactions are included in an LQpay merchant deposit?
Log in to your LQpay web portal and pull the settlement or deposit report for the date in question. Those reports list each underlying transaction—patient name, amount, and time—that was grouped into a given deposit. You can then match the total report amount to the exact “LQ MERCHANT DEPOSIT” amount shown on your bank statement.
Why doesn’t the LQpay deposit amount match any single patient payment?
LQpay commonly batches multiple transactions together before sending a single deposit to your bank. For example, all payments processed during a certain cut‑off window (such as that business day) may be grouped into one “LQ MERCHANT DEPOSIT,” so the total will usually be the sum of many smaller patient charges minus any applicable fees, rather than one stand‑alone transaction.
How quickly are LQpay deposits made after patient payments are processed?
Funding times can vary by your specific agreement and banking setup, but LQpay generally sends deposits on a regular settlement schedule (for example, next‑day or within a couple of business days after transactions are captured). To confirm your exact funding cadence, review your merchant agreement or contact LQpay support for details on your account’s funding schedule.([lqpay.ai](https://www.lqpay.ai/support/?utm_source=openai))
Who do I contact if an LQpay merchant deposit amount looks incorrect or is missing?
If a deposit amount doesn’t reconcile with your internal records, first verify transaction totals in your LQpay portal for the relevant date range. If it still looks off or a deposit appears missing, contact LQpay support at their listed support phone number or at contact@lqpay.ai, providing the bank deposit date, amount, and any reference numbers so they can trace the batch and provide a detailed breakdown.([lqpay.ai](https://www.lqpay.ai/contact/?utm_source=openai))
Can LQpay place authorization holds or pending amounts that affect my practice’s bank account?
On the merchant side, LQpay primarily handles captured patient payments and subsequent deposits to your account; holds and reserves, if any, would be defined in your merchant processing agreement (for instance, risk reserves or delayed funding in certain scenarios). If you suspect funds are being held or a deposit was adjusted, you should review your agreement and then contact LQpay to clarify whether a reserve, adjustment, or fee impacted the payout amount.([tandc.luqra.com](https://tandc.luqra.com/?utm_source=openai))
How do I reconcile LQpay deposits with my accounting or practice management system?
Use the LQpay settlement or deposit reports as your source of truth. For each “LQ MERCHANT DEPOSIT” on your bank statement, locate the corresponding batch in LQpay, confirm the total, and then record a single deposit entry in your accounting system that is supported by a detailed list of patient payments from the LQpay report. Many practices also export LQpay reports to CSV/Excel and import or attach them as documentation in their accounting or PM software for easier month‑end reconciliation.([lqpay.ai](https://www.lqpay.ai/support/?utm_source=openai))
Is LQpay the merchant that charged my personal credit card if I see its name on my card statement?
Typically, no. LQpay is a payment processor for healthcare practices, so consumers more often see the name of the medical, dental, or veterinary provider that actually rendered services. If you do see an LQ‑branded descriptor on a personal card, it usually indicates that your provider used LQpay to process the transaction; the underlying merchant is still the clinic or practice itself. If you don’t recognize the charge, contact the healthcare provider first, and then your card issuer if you suspect fraud.
This merchant is in the Financial Services category