Mr. J.P. Chauvet reports

LIGHTSPEED ANNOUNCES GLOBAL ROLLOUT OF ITS 'MEET OR BEAT PROMISE' AS PART OF ITS UNIFIED PAYMENTS & POS INITIATIVE

Lightspeed Commerce Inc. will meet or beat its existing third party payment processing rates when switching over to adopt its unified payments and POS (point of sale) platform, or else exempt customers from mandatory adoption of the platform and corresponding transaction fees. Previously this meet or beat promise was only available in North America.

In April, 2023, the company announced the launch of its unified Lightspeed Payments and POS platform, asking all eligible customers to sign up for its one cohesive and comprehensive product offering, which sees Lightspeed Payments embedded directly into their POS. This offering has been successfully rolled out in North America, and has started to launch in Europe, Australia and New Zealand.

"Now feels like the right time to roll out our meet or beat promise globally," explained J.D. Saint-Martin, president of Lightspeed. "We've heard great feedback from customers who see tangible benefits to their business by adopting Lightspeed Payments and POS. We've proven that we can offer better payment processing rates for the majority of merchants who switch. And we want to make sure that customers around the world can experience this too."

Since the launch, the company has seen overwhelmingly positive results from thousands of customers around the world who made the switch and are seeing the benefits that one unified suite of tools brings to their business. For example, Silo and Crate Brewery in London, U.K., has experienced a 10-per-cent revenue increase on its busiest days and saves three hours per week on reporting since adopting Lightspeed Payments. City Bird, a Detroit-based gift shop and gallery, saw, for each customer, an 80-per-cent reduction in checkout times.

"From the time we decided to switch to Lightspeed Payments to the time we were set up and ready to sell, it was less than 24 hours. Since then, we've saved so much time at checkout thanks to the fully integrated system. It's just so simple and user friendly," stated Tyan Parent, owner of Le Brande Groupe in Montreal, Canada. "I can now travel and still be connected to our data, make better informed decisions and correct mistakes from anywhere for all three stores, directly on my phone. We switched for the efficiencies, and that's been the biggest value, but as a bonus we're now paying less in fees too."

This highlights the ways in which Lightspeed Payments and POS is a single, powerful platform that streamlines operations, provides a seamless merchant experience and helps businesses scale. Additional indicators of success with unified Lightspeed Payments and POS customer adoption include the company's close rates remaining relatively consistent and customer churn in North America remaining within historical ranges, all for the quarter ended June 30, 2023.

"We also know that we're the ones asking our customers to make a change, and change is hard. But we are so confident in our offering that we want to lower as many barriers as possible for our merchants, so they can experience the same convenience, time savings and potential revenue growth that merchants have seen when they switch to Lightspeed Payments," said J.P. Chauvet, chief executive officer of Lightspeed. "That's why I'm so excited to announce our global rollout of our meet or beat promise: If we can't beat or at least match your current payment processing rate, we will not charge a monthly transaction fee for using a third party payments provider, and will not require you to adopt our payments platform."

In addition to this, the company is providing free payment terminals for each register, free on-site installation and contract buyouts to cover any early termination fees from existing processors. Eligible customers who switch to Lightspeed Payments will also unlock benefits such as:

• Powerful insights into how to optimize their business:
  • Embedding payment processing directly into the POS gives Lightspeed the power to unlock unique data and insights. The company serves those back to its customers through its advanced insights tool to help them make faster, smarter business decisions, like which meals drive the most repeat visitors and which categories are selling fastest.
• Streamlined bookkeeping and support:
  • No more multiple bills and multiple numbers to call for help. With one dedicated account manager, Lightspeed's customers benefit from streamlined operations and white glove support so their POS, hardware and payment needs are covered under one roof.
• Hassle-free reporting saves time, reduces risk of fraud and manual errors:
  • Customers will now have one consolidated reporting sheet in their hands, saving them hours of reconciliation per week. It also reduces the risk of errors, giving them more precise reporting and their staff fewer manual tasks to complete.
• Faster releases of product launches that will help businesses scale:
  • Lightspeed is investing its resources into new features, analytics and insights that will help customers grow their business, save them time and give them peace of mind. Investing efforts in a single payment offering has accelerated the speed of delivery and unlocked a variety of enhancements in the last quarter, including next day and instant payouts, tap to pay on iPhone, and enhancements to Lightspeed Capital.

Ultimately, adopting Unified Payments and POS means more time back for merchants to concentrate on improving the experience for their customers, and better data to drive business growth. Customers interested in taking advantage of Lightspeed's meet or beat promise can learn more by visiting the company's Lightspeed Retail or Lightspeed Restaurant websites, or reaching out to the company's support team at 1-844-799-5773.

Note:

1. Full details of Lightspeed's meet or beat policy are available on-line.
2. Payout timing depends on business type (retail or restaurant). Instant payouts available to United States customers only at the moment.

About Lightspeed Commerce Inc.

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Its cloud commerce solution transforms and unifies on-line and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

Founded in Montreal, Canada, in 2005, Lightspeed is dual listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

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