Lightspeed POS Reviews & Complaints

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A Multifaceted POS Solution

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.

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.

Lightspeed POS Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 50+
Live Customer Support Yes
Most Common Complaint Poor Customer Service

Minimal Complaints

Despite over 50 negative reviews, there are no accusations of fraud or scams against Lightspeed POS.

Legal Matters

No class-action lawsuits or FTC complaints have been found against Mynt. Dissatisfied merchants can consider reporting concerns to relevant supervisory organizations.

Lightspeed POS Customer Support Options

Lightspeed POS offers extensive customer support, including a 24/7 dedicated phone line, email support, live chat, one-on-one sessions, webinars, a customer forum, and onboarding assistance. While this aligns with best merchant accounts for customer service, complaints about support quality persist.

Overall Assessment

Considering the moderate number of complaints, clean legal record, and comprehensive but mixed-reviewed support options, Lightspeed POS receives a “B” rating in this category.

Lightspeed POS Online Ratings

Here's How They Rate Online

Online Ratings Summary
Product & Service Complaints 8
Billing & Collection Complaints 1
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.

Low Complaint Record

Lightspeed POS is not accredited with the Better Business Bureau. As of this review, the company has a “D” rating with the BBB and has had 9 complaints filed against it since the company’s profile was opened in April or 2017. 8 of the complaints concern a problem with a product or a service while the remaining complaint addresses a billing or collection issue. The company does not have any informal reviews on its BBB profile. None of the complaints have been resolved, with 8 reaching a resolution that did not satisfy the merchants. 1 complaint was not answered by the company at all.

A “C” Performance Overall

Lightspeed’s low complaint volume surely doesn’t merit the “D” rating given to it by the BBB. We have adjusted that rating to a “C” overall. This rating is based on the fact that the company has not received any complaints and that it failed to even answer 1.  Merchants should be aware, however, that there are reasons to be skeptical of the BBB’s reviews.

Lightspeed POS Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Retail Swipe Rate 2.60% + $0.10
Retail Keyed-in Rate 2.60% + $0.30
Restaurant Swipe Rate 1.00% - 4.99%
Restaurant Keyed-in Rate 1.00% - 4.99%
e-Commerce Rate 2.60% + $0.30
Retail Fee $99+ Per Month
Restaurant Fee $69+ Per Month
e-Commerce Fee $59+ Per Month

Industry-Specific Rates and Fees

Lightspeed POS offers tailored pricing for different sectors: retail, restaurant, and e-commerce. Retail plans start at $99 per month for each register, including a swipe rate of 2.6% plus $0.10 and a keyed-in rate of 2.60% plus $0.30. Restaurant plans, priced from $69 per register, have varying fees and transaction rates depending on the size and sales volume of each establishment.

Virtual Terminal and Payment Gateway Pricing

Additionally, Lightspeed POS outlines pricing for its e-commerce services. The e-commerce plan starts at $59 per user account, with a transaction rate of 2.6% plus $0.30. This monthly fee encompasses several features, including import/export tools, personalized onboarding, a reporting dashboard, an app store, a return management system, and SEO optimization. It’s important to note that Lightspeed’s e-commerce solution is accessible only to merchants who also use the company’s retail services.

A “B” Overall

Lightspeed POS’s clear pricing structure and the breadth of services supported by its POS software contribute positively to its reputation. However, the limitation that prohibits operating a stand-alone e-commerce account is a significant factor in the company receiving a “B” rating in this category.

Lightspeed POS Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms Yes

Lightspeed POS Sales Tactics

Unlike some competitors, Lightspeed POS sells its hardware directly to merchants. Though its POS software is hosted on iPads and desktops, Lightspeed sells other hardware. Printers, cash drawers, barcode readers, and more are available for purchase directly on the company’s website.

In addition to selling directly to merchants, Lightspeed POS website also conveys that it does not employ independent resellers. The company does not have any public complaints regarding its sales practices.

No Misleading Pricing

To its credit, Lightspeed POS does not appear to list deceptive prices. The company explicitly lists its monthly fees and transaction rates directly on its website. Different monthly fees and rates apply depending on whether a merchant does its business in the retail, restaurant, or e-commerce industry.

Lightspeed’s policy of selling hardware directly to merchants is a definite plus. As is the fact that the company does not employ independent resellers, nor does it have any complaints regarding its in-house sales practices. Those factors, along with its transparent pricing are the reasons behind why we award Lightspeed POS an “A” in this category.

Our Lightspeed POS Review Summary

Our Final Thoughts

Lightspeed POS stands out primarily for its transparent pricing, which is clearly laid out for its retail, restaurant, and e-commerce plans. Retail and e-commerce rates are explicitly listed on the website, though the restaurant transaction rates remain variable. This transparency allows merchants to readily understand and evaluate their options.

However, Lightspeed POS falls short of being a budget-friendly option for online-only merchants since the e-commerce plan is exclusively available to those also using its retail POS services. Despite this limitation, the company’s straightforward pricing still enables merchants to effectively weigh Lightspeed’s costs against alternative POS solutions and make informed decisions.

Location and Ownership

Lightspeed POS is headquartered at 700 St-Antoine Est, Suite 300, Montreal, Quebec, Canada with its United States’ operations based at 111 8th Ave, Floor 16, New York, NY. Its acquiring bank is dependent upon which merchant account provider it relies upon for payment processing. JP Chauvet is the company’s president.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Lightspeed POS Treat You?

1 User Reviews

  • 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!

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