Lightspeed Payments rolls out to hotel merchants in five European markets
Expansion follows launch of integrated financial services in UK
MONTREAL, August 4, 2021 / CNW / – Speed of light (NYSE: LSPD) (TSX: LSPD), the one-stop shopping platform for merchants around the world to simplify, adapt and create great customer experiences, today announced the general availability of Lightspeed Payments for hotel traders in Germany, Swiss, France, Belgium and the Netherlands.
To deliver customized and localized financial solutions in each market, Lightspeed has partnered with a global payments platform Adyen to enable hospitality businesses to meet changing consumer demand with reliable and secure payment processing options.
Lightspeed Payments is currently available to retail businesses in Canada and United States as well as hotel traders in United States. In the coming months, there are plans to expand to serve Lightspeed merchants in the Asia Pacific Region,
including customers of the recent acquisition of Vend
. Expanding Lightspeed’s integrated financial services offerings to these new markets is a milestone for Lightspeed, as non-North American markets represent more than 40% of Lightspeed’s global customer locations.
Lightspeed Payments provides independent hospitality businesses with essential tools like mobile and contactless payments, enabling them to process payments faster and manage their businesses from a single platform. In an ever-changing, increasingly digital and consumer-centric hospitality market, in-app payments provide an advantage for successful restaurateurs.
“The hotel industry in Europe is bouncing back just in time for summer vacation and this is a critical time for the small and medium businesses we serve in this region, ”said Jona georgiou, Global Chief Payments Officer for Lightspeed. “This expansion enables our customers around the world to generate faster and more secure transactions that provide them with richer data about their business and meet the needs of their customers. “
Lightspeed survey data collected from small business owners and consumers in the UK and Europe, show that
94% of small business owners in the UK
believe that integrated payments come with significant costs
savings. New data also shows that more than half of French consumers now prefer to pay with a credit or debit card or make mobile payments, while 62% prefer contactless payments for their speed and health benefits. Likewise, a majority of German consumers have indicated that they believe independent businesses should be required to offer at least one electronic payment option in addition to cash payments, according to a representative study by the German digital association Bitkom.
“The COVID-19 health crisis has accelerated the use of contactless solutions, a necessary development but also a real asset that saves a lot of time. Lightspeed Payments combines convenience, transparency and cost reduction, ”said Maxime Barré, founder and owner of Michelin-starred French restaurant, La Belle Étoile. “Transparent transaction rates and the ability to immediately credit a customer’s account in the event of a cash error prompted us to make this choice.
Powering the businesses that are the backbone of the global economy, Lightspeed’s one-stop commerce platform helps merchants innovate to simplify, scale, and deliver great customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multi-channel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.
Founded in Montreal, Canada in 2005, Lightspeed traded on the New York Stock Exchange (NYSE: LSPD) and the Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in more than 100 countries.
For more information, see www.lightspeedhq.com.
This press release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are predictive in nature, depend on or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “has the” intention to “,” plan “,” estimate “,” estimate “or similar expressions concerning matters which are not historical facts. Such statements are based on the current expectations of Lightspeed management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors.A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this press release, including, between other factors, the risk factors identified in our most recent MD&A on Financial Position and Results of Operations, under “Risk Factors” in our p read recent Annual Information Form, and in our other filings with Canadian securities regulators and the United States Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are urged to carefully consider these and other factors when making decisions about Lightspeed subordinate voting shares and not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are not guarantees of future performance and, although the forward-looking statements are based on certain assumptions that Lightspeed considers to be reasonable, actual events and results could differ materially from those expressed or under- understood by forward-looking statements made by Lightspeed. Except as expressly required by applicable law, Lightspeed assumes no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Lightspeed POS Inc.