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Stripe Inc. has notched money-transfer services as a customer category with MoneyGram’s adoption of the payment processor’s technology for its retail locations. Additionally, Lightspeed Commerce Inc. is selling Upserve, a hospitality point-of-sale platform it acquired in 2020.
Dallas-based MoneyGram International Inc., which went private in 2023, says it will use Stripe’s prowess to update point-of-sale technology at its global retail locations, which number 500,000, the company says.
This includes not only payment processing but Stripe POS terminals and other digital transaction methods, such as tap-to-pay, pay-by-link, and QR code-based payments. Known primarily as an online payment processor, Stripe delved into face-to-face transactions with the 2018 debut of the Stripe Terminal. MoneyGram did not disclose how many devices are involved.
A primary goal of the update is to provide MoneyGram’s cash-first customers with more ways to fund their transactions within the in-person experience they have come to trust, MoneyGram says. It will also help the money-transfer company’s agent with faster and more connected services, enabling each location to become part of a global digital network, it says.
“We’re evolving our retail network into a digitally connected ecosystem, enabling consumers to use their preferred way to pay, while empowering our agents to deliver a faster, more seamless experience,” Luke Tuttle, MoneyGram chief product and technology officer, says in a statement.
In related POS news, Montreal-based Lightspeed is selling hospitality POS platform Upserve for up to $81 million to Skyview Equity LLC. Lightspeed acquired Upserve in 2020.
Lightspeed says the divestiture is in line with its plan to streamline its portfolio and to concentrate on retail in North America and hospitality in Europe. It started making that transition in 2025.
Upserve, founded in 2009 as Swipely and rebranded as Upserve in 2016, launched its own POS terminal in 2018.
At the time of Lightspeed’s acquisition of Upserve, Lightspeed anticipated it would make it more competitive in the restaurant POS arena. It paid $430 million in stock and cash for Upserve.
