Lightspeed launches Lightspeed Payments in United Kingdom and Europe in expansion of financial services
Lightspeed brings Lightspeed Payments to UK customers as 94% of UK-based merchants look to integrate payments to simplify and scale their businesses
Lightspeed, a leading provider of cloud-based, omnichannel commerce platforms, today announced the initial availability of Lightspeed Payments for hospitality merchants in the United Kingdom and Europe. Lightspeed’s integrated payments experience gives small and medium-sized businesses in the hospitality industry access to key functionalities made crucial by the global pandemic, including mobile and contactless payments, ahead of anticipated economic reopenings.
Lightspeed Payments will be rolled out to hospitality merchants in the United Kingdom, followed by retail. This will continue for Lightspeed merchants throughout France, Belgium, the Netherlands, Germany, and Switzerland. The United Kingdom is an underserved market when it comes to payments, especially in the hospitality sector, and Lightspeed is thrilled to support these businesses as they begin to re-open for full-capacity dining.
94% of UK SMBs See Financial Value of Integrated Payments
A study Lightspeed conducted with London’s OnePoll and over 300 small business owners found that:
- 94% said having integrated POS payments saves money and 79% believe it saves time.
- 83% are using mobile payments.
- 78% manage their financials on their own.
- 34% said they need more support preventing fraudulent payments, while 42% said they need more overall support with financial management.
“This is a crucial time for the small and medium-sized businesses we serve and they need simplified solutions that save them time and money,” says Dax Dasilva, founder and CEO of Lightspeed. “This launch empowers many of our global customers to generate faster, more secure transactions that give them richer data about their business. The United Kingdom has historically seen rapid adoption of new payments solutions and we are excited to add new capabilities and flexibility to the businesses that are the backbone of that economy.”
To integrate with local financial infrastructure, Lightspeed has partnered with the global payments platform Adyen in the United Kingdom and Europe to provide reliable, secure payment processing for customers.
Simplified Payments Provides Relief for SMBs
Lightspeed Payments proved to be essential for many North American businesses throughout the COVID-19 pandemic. Operating from a single system of record, merchants eliminate the inconvenience of a separate payments provider, gaining a globally-backed, secure platform.
LeAnna Brun runs Brunmillers Soapworks, a small retail business in Texas. While COVID-19 and recent ice storms wreaked havoc on her tourism-driven business, being able to run her shop online using both Lightspeed eCommerce and Lightspeed Payments has helped keep her business afloat.
“Lightspeed has made everything so much easier,” Brun said. “It keeps business moving and having an integrated system is really important. With Lightspeed Payments, I love checking my bank account in the morning. It’s the most painless part of my whole business. Being able to control inventory and payments for online sales and in-store from a single location is extremely valuable. It’s also important to me that my customers feel secure when checking out.”
Today’s announcement furthers Lightspeed’s commitment to the tens of thousands of customer locations it supports throughout the globe and extends Lightspeed Payments beyond North America, where the company has offered the solution since 2018.