Inside Retail recently showcased Lightspeed as the forefront innovator transforming the retail landscape. In an exclusive interview, Andrew Fraser, Managing Director for Lightspeed APAC shared valuable insights on the growing importance of adopting a unified POS & payments platform to reduce human error, increase efficiency and satisfy customers.
Why is there a shift to embedded payments?
As the retail sector continues to evolve in leaps and bounds, Australian merchants are looking for new ways to gain a competitive edge.
Andrew highlights that using separate systems for POS and accepting payments can often lead to inaccurate data, missed sales and unhappy customers.
“When you’ve got separate systems, you get mistakes,” says Andrew.“That can be quite costly for a business in terms of the financial cost of keying errors on the payments terminal”.
“It also creates time issues, when every time you enter sales into separate terminals you get a duplication of effort for sales staff and for the customer. Then there’s a further time cost when payments aren’t automatically reconciled and synced to accounting”.
A unified platform empowers retailers with data-driven insights to propel their businesses forward.
Andrew shared with Inside Retail that the unified POS & payments solution is something any retailer operating a physical brick-and-mortar location will be able to benefit from; “It’s really those big things – hassle-free reporting, saving time, reducing manual errors – making it so easy to tie together in the store.”
Embedded payments are proving to give retailers the edge they need
Lightspeed Payments have already made an impact for early adopters. Skincare retailer White Earth has been using embedded payments to great effect, reducing instances of human error and providing a strong base for the business to expand.
“Using Lightspeed Payments is definitely improving accuracy,” says White Earth founder Liz Anderson. “It absolutely takes the error issue away and it also makes it seamless for the customer in store. We are looking at growing the business, so that is one issue that has resolved many of the smaller problems, so I can now focus on other areas of the business to grow.”
Lightspeed’s unified solution opens the door for retailers to accomplish more
As Lightspeed continues to innovate, retailers can now take advantage of the perks offered by an embedded payment system. That means:
- Retailers can stop chasing the banks and instead enjoy access to expert support 24/7
- Enjoy low rates and no terminal rental fees
- Use the latest payment terminals, free for all of their locations
It doesn’t stop there. With Lightspeed Payments, transaction fees are reinvested back into further developing other tools used in Lightspeed. “The key advantage of our platform is that by focusing on unified payments, our innovation and research spending can go into faster release of new product innovations,” says Andrew,
“We can double down on investment in the platform, adding features, analytics and insights so that we can save retailers time and give them more peace of mind. That means an even better experience for these store owners going forward.”
Ready to take advantage of embedded payments? Learn more about Lightspeed’s unified POS & payments platform.
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