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Lightspeed Launches New Integrated Payment Capabilities in North America

Lightspeed POS (NYSE: LSPD) (TSX: LSPD) has announced the initial availability of Lightspeed Payments for hospitality merchants in the United States and retailers in Canada. 

Eliminating the need for a separate payments provider, new and existing Lightspeed customers will benefit from Lightspeed Payments’ direct integration with the commerce platform that saw its merchants growing faster than industry averages in 2019.

Bringing integrated payments technology to even more businesses

With Payments technology at their fingertips, even more SMBs now have access to true end-to-end customer service and sophisticated technology to improve their clients’ checkout experience. 

Operating from one system of record, merchants across North America can leverage the suite of modules that make up the Lightspeed platform to operate strategically from a single backend.

“Merchants are taking advantage of cloud technology to increasingly streamline operations and generate a tangible return on investment,” says Dax Dasilva, founder and CEO of Lightspeed. “Lightspeed Payments provides customers the simplicity they desire to optimize their time and grow their business.”

Key features of Lightspeed Payments include:

  • Transparent Pricing and Cost Certainty: No startup fees and credit card-agnostic standard rates for card-present transactions, card-not-present transactions and keyed-in transactions. 
  • Simplified Set-Up: Frictionless process to get businesses transactional quickly and painlessly. 
  • Fast and Secure Checkout Experience: Supports all major payment methods and processes refunds without having to ask the cardholder to present their card. PCI compliant solution that helps SMBs combat fraud risk with monitoring and payments experts readily available to help when needed. 
  • One Place to Manage the Business: With one source of data and one company to trust, SMBs can manage their businesses in one place, including financial reporting and cash flow tracking.

Lightspeed partners with Stripe to expand processing options for merchants

Now partnered with global payments processing platform Stripe, Lightspeed Payments offers merchants a variety of processing options to best suit their business. This partnership enables Lightspeed Payments to now offer a faster checkout experience, improved reporting, and sleek new hardware well-suited for ambitious omnichannel merchants.

“Lightspeed Payments is extraordinarily easy to use and has modernized the way we run our business,” says LABEL Boutique owner Sarah Barton. “Implementing a payments solution that was directly integrated with my point-of-sale system has eased the burden on my staff and led to a smoother customer experience. It’s a nice touch that Stripe’s modern terminals blend in with the carefully curated aesthetic of my brick-and-mortar shop.”

“Lightspeed has been simplifying business for retailers and restaurants for 15 years, and we’re excited to partner with them,” said John Collison, President and Co-founder of Stripe. “The fit and finish of Lightspeed’s new payment capabilities will delight their customers.”

Today’s announcement furthers Lightspeed’s commitment to the more than 74,000 customer locations it supports throughout the globe and extends the Lightspeed Payments beyond retail and outside of the United States, where the company has offered the solution since January 2019.

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