Lightspeed extends integrated payments capabilities

Lightspeed POS is extending new payments capabilities within its business management tools for small businesses and restaurant merchants in the U.S. and Canada.

In delivering the integrated payments for hospitality merchants, Montreal-based Lightspeed is now supporting clients using Lightspeed Payments with multiple payment processing options, onboarding and hardware from partner Stripe.

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

Lightspeed Payments, which launched for small businesses in the U.S. last year and extends to the restaurant vertical this year, provides users access to end-to-end customer service and technology to improve the client checkout experience. Operating from one system of record, Lightspeed says merchants across North America can leverage the suite of modules to operate manage a business and accept payments from a single backend.

The payments software and commerce platform will include transparent pricing and standard rates for card-present, card-not-present and keyed-in transactions, a faster checkout process, financial reporting and cash flow tracking.

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

Lightspeed reports supporting more than 74,000 customer locations in more than 100 countries globally with its cloud-based commerce services. Lightspeed clients process more than $14.5 billion in transactions annually.

The rollout of the integrated payment capabilities targets U.S. restaurants and Canadian retail locations in the spring of 2020, and Canadian restaurants later in the year.

“Lightspeed Payments is extraordinarily easy to use and has modernized the way we run our business,” Sarah Barton, owner of client Label Boutique, said in the release. “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."

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