Lightspeed POS Inc. has partnered with Stripe to provide advanced payments capabilities for retailers and restaurants in the U.S. and Canada, according to a company press release.
Lightspeed has integrated Stripe Connect and Stripe Terminal into its systems, which will help merchants get started with accepting payments faster and reduce latency during customer checkout.
“Stripe offers enterprise-grade infrastructure that puts our customers on the cutting edge of modern payments technology,” Dax Dasilva, founder and CEO of Lightspeed, said in a joint release from the companies. “The combination of Terminal and Connect is a powerful integrated solution in the market for ambitious platforms to facilitate payments for their merchants.”
Sources familiar with the company told Mobile Payments Today that getting verified on Lightspeed had been a burdensome process for sellers as well as platforms, for example the process of going through know your customer and anti money-laundering compliance checks.
Stripe handles compliance issues to make the process much faster and Stripe Connect is fully integrated with Stripe Terminal, which means merchants can get their card readers much faster.
Montreal-based Lightspeed has more than 70,000 customers.