Overview
Lightspeed POS offers point-of-sale (POS) and payment processing solutions for retail, restaurant, and eCommerce businesses. This article will review the features of Lightspeed POS, including its pricing structure, contract terms, and customer feedback. We will discuss the transparency of their fees, the quality of their customer support, and the overall satisfaction levels reported by their clients. By the end of this article, you will have a clear understanding of what Lightspeed POS provides and whether their services are suitable for your business's payment processing needs.
About Lightspeed POS
Lightspeed POS is an iPad and desktop-based POS solution that provides services to retail, restaurant, and e-commerce based merchant accounts, serving over 51,000 locations in around 100 countries worldwide. The company compartmentalizes its services between those different types of merchants, offering tailor-made solutions for each industry. The company relies on Vantiv, Cayan, and iZettle for payment processing but discloses its own rates and fees. In addition to payment processing solutions, Lightspeed's POS software also provides QuickBooks integrated accounting, scheduling, email marketing, and inventory management tools. Merchant reviews reflect that the company's platform is comprehensive while still being easy to use.
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An Expanding Operation
On May 30, 2019, Lightspeed POS announced its acquisition of Chronogolf, a cloud-based POS solution used to manage golf courses. The acquisition of the fellow Montreal-based POS solution will allow golf courses to streamline their services from everything to their clubhouse sales to other facilities on their premises, including restaurants.
On October 20, 2019, Lightspeed POS announced its acquisition of Konta Holdings Pty Ltd. The newly acquired company is a cloud-based POS solution that caters to small to mid-sized merchants in the hospitality industry. Kounta has a large presence in the Asian-Pacific market, serving over 7,000 locations across Australia and New Zealand. Its cloud-based POS solution is used by restaurants, cafes, bars, and boutique hotels. Kounta made $6.4 million during the 2018-2019 fiscal year.
Lightspeed's acquisition of Kounta will be completed through a cash/stock purchase for $35.3 million and the issuance of 306,290 shares of stock at a price of $25.05 per share. The disbursement of the stock will be paid out to employees through October 2021. The acquisition is at the core of Lightspeed's mission to serve small to mid-sized businesses.
Emilianon Dolores
I am thrilled with the Lightspeed POS system! It has truly revolutionized the way we manage our business. From the moment we implemented it, we noticed a significant improvement in our efficiency and customer service. The intuitive interface makes it easy for our staff to process transactions and manage inventory effortlessly. Plus, the robust reporting features help us make data-driven decisions to optimize our operations.
With Lightspeed POS, we’ve experienced seamless integration with our e-commerce platform, streamlining our online and in-store sales. The customer support team has been exceptional, promptly addressing any queries we had along the way.
Overall, Lightspeed POS has been a game-changer for our business, and I can’t imagine running it without this system. I wholeheartedly recommend it to any business looking to elevate their point of sale experience!