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, has launched Lightspeed Payments for hospitality merchants in the United Kingdom and Europe.

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. 

Eliminating the need for a separate payments provider, the launch of Lightspeed’s integrated payments capabilities gives small and medium-sized businesses in the hospitality vertical access to the key functionalities made crucial by the global pandemic, including mobile and contactless payments, ahead of anticipated economic reopenings. 

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A study Lightspeed conducted in April with over 300 UK 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.

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. 

“This is a crucial time for small businesses where they need simplified solutions that save them time and money,” says Dax Dasilva, founder and CEO of Lightspeed. “This launch empowers our global customers to have more secure, faster transactions that give them richer data about their business. The United Kingdom has historically seen rapid adoption with new payments solutions, and we’re excited to add new capabilities and flexibility for those merchants.”

Key features of Lightspeed Payments include:

  • Frictionless, faster processing at competitive rates: No startup or hidden fees – transparent pricing for swipe, tap, or manual entry. 
  • Manage Your Business in One Place: With one source of data and one company to trust, hospitality operators can manage their businesses in one place with an integrated experience that manages your POS and payments.
  • Simplified Set-Up: Frictionless and fast process to get businesses transactional quickly and painlessly. 
  • Comprehensive reporting and robust analytics that interact directly with the POS: Save time and frustration, with no need to juggle reports and tools; all payments reports are at your fingertips in Lightspeed. Retain increased customer data with every swipe or tap. 
  • Enhanced Payment Security backed by a global network: EMV, tokenization and end-to-end encryption.
  • Operational support with chargebacks, fraud, and customer queries. 
  • Flexibility with a range of localized payment options.

As restaurants look ahead to the new future of hospitality, they’re increasingly adopting new technology to streamline their efforts and improve their operating costs. This new integration from Lightspeed eliminates the need for a separate payments service provider, which can be costly and difficult to manage.

The 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.

About Lightspeed

Lightspeed (NYSE and TSX: LSPD) powers complex small and medium-sized businesses with its cloud-based, omnichannel commerce platforms in over 100 countries. With smart, scalable and dependable point of sale systems, Lightspeed provides all-in-one solutions that drive innovation and digital transformation within the retail, hospitality, and golf industries. Its product suite enables SMBs to sell across channels, manage operations, engage with consumers, accept payments, and ultimately grow their business.

Headquartered in Montreal, Canada, Lightspeed is trusted by favorite local businesses worldwide, where communities go to shop and dine. Lightspeed has staff located in North America, Europe, and Australia.

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Tags : LightspeedTECHNOLOGY
Zoe Monk

The author Zoe Monk

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