Briefing

Lightspeed expands payments service to six European markets

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The feature will initially be available to the point-of-sale technology company’s hospitality clients in the U.K., France, Belgium, the Netherlands, Germany and Switzerland. Retail stores will follow. Lightspeed charges merchants 2.6 per cent, plus a small flat fee per transaction, to use its processing service. (The Logic)

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Talking point: The Montreal-based firm has positioned payments as a key revenue growth driver since its March 2019 IPO, allowing the company to piggyback on its clients’ expanding sales. As of February 2021, the share of merchants’ gross transaction volume—a measure of total business via Lightspeed—going through the service was still “in the single-digit per cent range,” CEO Dax Dasilva said on Lightspeed’s third-quarter earnings call. Expanding outside North America will help improve that ratio—European and other international markets accounted for 41 per cent of stores, restaurants and golf courses using its technology at the turn of the year.