Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Lightspeed and Stripe Partner to Launch New Payments Feature
Digital | Feb 6, 2020
The integration will launch Lightspeed Payments, a new one-stop shop for customer payments and financial reporting
Need to Know
- Montreal’s Lightspeed has announced a partnership with payments software company Stripe.
- Lightspeed will launch a new offering allowing for a more streamlined checkout process for retail and restaurant customers.
- Lightspeed’s stock has doubled since its IPO last spring and the company is now balancing plans for both for long-term growth and profit.
Montreal-based Lightspeed has announced a partnership with Stripe, extending payment options and allowing for a more streamlined checkout process for customers.
This integration will allow for the launch of Lightspeed Payments, which will eliminate the need for a separate payment provider for Lightspeed customers. Some of the perks of Lightspeed Payments include transparent pricing, a more simplified setup, faster checkout, and most significantly, one place for business owners to manage financial reporting and cash flow tracking.
In-depth Review:
Lightspeed is a cloud-based commerce platform (see Analysis) that provides a point of sale system for restaurants and retailers in over 100 countries around the world. Last spring, Lightspeed went public, raising more than $240 million for the company during the IPO.
Lightspeed’s partnership with Stripe, a widely-used transactions company that accepts payments and helps clients manage their businesses online, is expected to improve the payment experience for customers.
“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 [Stripe’s point of sale] and Connect [Stripe’s product for platform payments] is a powerful integrated solution in the market for ambitious platforms to facilitate payments for their merchants.”
Now, existing clients using Lightspeed Payments can expect shorter waits and a better experience for end customers. Plus, Stripe makes it possible for businesses to customize their payment software with their own branding.
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