As SMBs navigate a new retail landscape permanently altered by COVID-19, technology adoption is pivotal to business success. In light of this, Lightspeed (NYSE: LSPD) (TSX: LSPD) has announced new features to help its customers with the continued digital transformation of their businesses.
The new tools offer increased mobility when processing transactions, more options for viewing business insights and will better support SMBs as they continue to adjust to consumer behaviour. Lightspeed has introduced business-empowering features for in-store POS and eCommerce, including Mobile Tap supporting curbside pick-up and contactless payment, Digital Wallet and Analytics Core.
Developing technology to adapt to the future of commerce
“Our priority as we look to the future of retail is to enable our customers to adapt quickly to the dramatic and rapid changes in consumer behaviour over the past few months,” said Dax Dasilva, Founder and CEO of Lightspeed. “The SMBs that Lightspeed powers are innovating quickly because they are equipped with tools that help them remain agile, stay connected with their customers, and future-proof their businesses.”
The digital overhaul forced by COVID-19 has become the new normal, with consumer trends showing that eCommerce will remain crucial as SMBs adopt tactics to elevate the digital experience for their customers. Lightspeed’s new solutions enhance the omnichannel shopping experience, enable greater multi-location efficiencies, and offer opportunities for improved productivity for Lightspeed retailers.
Mobile Tap for curbside pick-up and contactless payment
Lightspeed merchants in the U.S. using Lightspeed Payments will now be able to process transactions with just a tap, anywhere in-store or curbside, offering greater flexibility in situations of social distancing.
The Mobile Tap hardware connects through Bluetooth, essentially turning an iPad into a contactless mobile payments terminal. Payments are processed securely with the integration of end-to-end encryption technology.
Digital Wallet for eCommerce
Optimized for mobile, the introduction of Digital Wallet in North America supports faster eCommerce conversion and supports a plethora of payment methods globally, including Google Pay™ and Apple Pay®.
With 21% of U.S. eCommerce shoppers abandoning their cart at checkout due to a lengthy or complicated process, this secure and seamless one-click eCommerce checkout experience is part of the answer to improved conversion online.
Analytics Core for retail insights
Through this new module, users will have access to a variety of business dashboards and insights on sales, inventory and employee performance, enabling retailers to make data-driven decisions about the future. Analytics Core will be released globally and is the perfect entry point to Lightspeed’s existing retail analytics suite.
While it was integral for retailers to have an online presence during pandemic shutdowns, it has become clear that their digital presence and strategies will remain crucial. Retailers who utilize these tactics, combined with a deep understanding of their customers will come out ahead.