Lightspeed Payments Availability Expands to New APAC and US Customer Locations

Rhea-AI Summary

Lightspeed Commerce expands its Payments service to include Australia and U.S. merchants, following its acquisition of Vend. This launch significantly increases the reach of Lightspeed Payments, now available to retail customers in several countries, enhancing their operational capabilities. The platform aims to streamline payment processing and integrate various sales channels, providing merchants with essential analytics and resources for transactions. With this development, Lightspeed enhances its competitive position in the global financial services market.

Positive

• Expansion of Lightspeed Payments to Australia and U.S. merchants boosts market presence.
• Integrates payment processing, enhancing operational efficiency for merchants.
• Tailors services for each market, addressing regional legal and tax concerns.

Negative

• None.

Lightspeed further grows financial services footprint following launches in NOAM and EMEA

MONTREAL, Nov. 2, 2021 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences, today announced the expansion of Lightspeed Payments in Australia and to U.S. merchants who joined via the acquisition of Vend, extending merchant reach for Lightspeed Payments across new geographies and products. Lightspeed Payments is a powerful and easy-to-use integrated payment processing solution that has transformed the way merchants run their businesses.

Lightspeed Payments is currently available to U.S. and Canadian retail customers, U.S. hospitality customers, and hospitality customers in the United Kingdom, France, Belgium, the Netherlands, Switzerland and Germany. As of today, Lightspeed Payments becomes available to tens of thousands of additional customer locations in Australia and the U.S., with additional retail customer locations in Australia and the United Kingdom coming by the end of the calendar year.

"Independent businesses throughout the world deserve the same tools and resources as big enterprises," said Lightspeed President JP Chauvet. "The global launch of Lightspeed Payments is just the beginning. Through the depth and breadth of our global commerce solutions and domain expertise, Lightspeed is in a favorable position to expand financial service solutions with stronger, more innovative customer experiences."

Lightspeed Payments is uniquely tailored for each global region and vertical, to ensure legal and tax concerns, languages, and consumer payment preferences are localized for each region.

As commerce becomes increasingly digital and consumer-driven, integrated payments are a cornerstone that connects systems and software to keep a business running smoothly. Lightspeed also provides merchants with a fully integrated omnichannel experience, reducing the typical friction of a third-party provider with a single solution for online, offline, and curbside or tableside payments. This integration allows merchants to process payments more efficiently and streamline their business operations all from a single commerce platform, with premium analytics, reporting, reconciliation and resources to win chargeback disputes and recover lost sales at no added cost.

Visit Lightspeed's website to learn more about Lightspeed Payments. 

About Lightspeed 
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com

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Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's 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 news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most

recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. 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 cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts:

Victoria Baker
NKPR
victoriab@nkpr.net

Cydoney Curran
NKPR
cydoney@nkpr.net

Lightspeed Media Relations
media@lightspeedhq.com

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SOURCE Lightspeed Commerce Inc.

FAQ

What new markets has Lightspeed Payments expanded to in November 2021?

Lightspeed Payments has expanded to Australia and U.S. merchants following the acquisition of Vend.

How does Lightspeed Payments benefit U.S. and Australian merchants?

Lightspeed Payments streamlines payment processing, providing an integrated solution for both online and offline sales.

What is the significance of Lightspeed Payments' expansion for LSPD stockholders?

The expansion enhances Lightspeed's market reach and operational capacity, potentially increasing revenue and shareholder value.

When was Lightspeed Payments launched in new regions?

The new expansion of Lightspeed Payments was announced on November 2, 2021.