Saturday , May 21, 2022

Lightspeed Leverages a Single Platform That Enables POS And E-Commerce Payment Channels

Lightspeed Commerce Inc. early Thursday announced the launch of Lightspeed Retail. The new platform, which pulls features from platforms of other companies the Montreal-based processor has acquired, combines point-of-sale, payments, and e-commerce solutions. 

The platform also leverages so-called headless commerce technology, which is an e-commerce architecture where front-end applications are decoupled from back-end commerce applications, making it possible for merchants to make changes to customer-facing apps without affecting their back-end apps. As a result, merchants can turn any Web site into an e-commerce site, regardless of the platform on which the site is built. In addition, merchants can create personalized experiences, use application programming interfaces to forge integrations with other technologies, and build new Web sites using self-service tools.

“Headless commerce enables our customers to blend the digital and physical worlds,” says Ana Wight, general manager, retail, for Lightspeed. “Retailers with an omnichannel presence tend to be more successful than those that don’t have one. We don’t see this as a POS platform, but a commerce platform in which POS is a core component.”

To support her point that omnichannel merchants tend to outperform non-omnichannel merchants in terms of sales, Wight points to data from Lightspeed’s “State of Retail 2022: Omnichannel” report. According to the report, which surveyed more than 7,200 retail owners, managers, operators, and customers globally, an average of 48% of global omnichannel merchants reported higher or significantly higher year-over-year revenues compared to just brick-and-mortar retail merchants and just e-commerce merchants.

As part of the new platform’s capabilities, merchants can sell and advertise products in digital sales channels consumers prefer, such as social-media platforms including Facebook, Instagram and TikTok, as well as marketplaces such as Google, Amazon, and eBay, according to Lightspeed.

Retailers can also customize their POS and back-office workflows to their specific needs and track performance with the Lightspeed Retail app, as well as manage inventory using a smart mobile device, Lightspeed says.

In addition, merchants can use the platform to manage their inventory across physical stores and their digital sales channels and create customized reports. The platform also supports analytics and loyalty functions that can be integrated across the merchant’s POS and retail systems.

“The way consumers want and need to shop is evolving,” Wight says. “If merchants can meet customers where they are, they can be more successful, grow faster, and do more with customers.”

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