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Lightspeed launches Lightspeed Payments in United Kingdom and Europe in expansion of tailored financial solutions

Global commerce leader brings key functionality to restaurateurs as 94% of polled UK-based SMBs look to integrate payments to simplify and scale their businesses

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MONTREALApril 6, 2021 /CNW Telbec/ – Lightspeed (NYSE: LSPD) (TSX: LSPD), 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 FranceBelgiumthe NetherlandsGermany 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.

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.”

Lightspeed Payments proved to be essential for many North American businesses during 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.

To learn more about Lightspeed Payments, please visit www.lightspeedhq.com.

About Lightspeed
Lightspeed (NYSE andTSX: 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 AmericaEurope, and Australia.

For more information, see www.lightspeedhq.com 
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SOURCE Lightspeed POS Inc.

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