Lightspeed (TSX: LSPD), the global point-of-sale and ecommerce platform, is partnering with Stripe to power in-store and online payments for retailers and restaurants in the US and Canada.
Powering retailers that grow over four times the industry average in the US, Lightspeed has integrated Stripe Connect and Stripe Terminal to extend payment capabilities for their customer base. This will make it easier for restaurants and retailers to get started accepting in-store payments and customize readers with their own unique branding, as well as reduce latency at the checkout.
“Stripe offers enterprise-grade infrastructure that puts our customers on the cutting edge of modern payments technology,” said Dax Dasilva, Founder and CEO of Lightspeed. “The combination of Terminal and Connect is a powerful integrated solution in the market for ambitious platforms to facilitate payments for their merchants.”
Lightspeed innovates with Stripe to elevate the payments experience for their customers
With Terminal (Stripe’s programmable point of sale) and Connect (Stripe’s product for platform payments), Lightspeed is simplifying the way restaurants and retailers can accept payments in-store and online. Stripe Connect powers fast and seamless onboarding for any business looking to quickly accept payments with Lightspeed, and Stripe Terminal makes in-store payment acceptance a simple plug-and-play experience.
Restaurants and retailers using Lightspeed will enjoy reduced latency at the checkout -- on average, businesses can expect readers to be around three times more responsive, meaning shorter queues and a better experience for end customers. Stripe makes it possible for Lightspeed and merchants on their platform to customize card readers with unique branding -- crucial for modern businesses with strong brand identities.
“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.”
Stripe helps Lightspeed move fast with enterprise-grade infrastructure
Stripe’s focus on developer experience and best-in-class APIs made it possible for Lightspeed to go live quickly within just three months. Once set up, Stripe Connect automates payouts and keeps Lightspeed out of the flow of funds, reducing the operational and regulatory burden of managing money movement at scale.
Lightspeed’s operations teams now use Stripe’s Sigma tool for reporting and reconciliation. With Stripe’s cloud-based infrastructure, Lightspeed also enjoys the associated benefits of world-class uptime, security and scalability.
“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.”