The Federal Reserve Monetary Providers just lately launched a 2025 funds report that discovered money accounted for 14% of all US shopper funds in 2024, whereas credit score and debit playing cards accounted for 65% of funds.
The report additionally discovered that U.S. shoppers made a median of 11 funds monthly with a cell phone in 2024, up from 4 funds since 2018—a rise of 175% in six years.
Whereas money funds are nonetheless comparatively frequent, latest information exhibits that buyers are repeatedly choosing completely different cost strategies in favor of money; a transfer that hasn’t gone unnoticed by enterprise homeowners.
Many companies, from retail to hospitality, are opting to overtake their cost expertise to supply a greater expertise for his or her clients whereas saving money and time for his or her enterprise.
That’s the place Lightspeed steps in.
Lightspeed’s unified level of sale (POS) and funds platform offers companies with all of the instruments they should run and develop their enterprise from one quick, versatile platform. With funds seamlessly embedded into the POS, companies can increase effectivity, eradicate guide entry, save time on reconciliations and lower your expenses that may be reinvested again into the enterprise.
To grasp precisely how Lightspeed has helped companies within the US and around the globe, we sat down with a variety of homeowners and managers to speak about how Lightspeed’s platform has helped them to scale and develop.
Let’s dive in.
Sensible tipping workflowsSaves time and ensures accuracySecure paymentsQuick and correct reconciliationSave on processing feesFinancial data in a single placeEliminates human error
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1. Sensible tipping workflows
South Bark Canine Wash elevated tipping income by 11% because of Lightspeed Funds.
The pet provides and dogwashing enterprise has been in operation for greater than twenty years in San Diego, California.
As a small enterprise competing in a busy area of interest, South Bark was caught utilizing a number of suppliers for his or her POS, funds and tipping wants—an inefficient setup that couldn’t final.
Lightspeed’s reporting capabilities have been what first drew the group to the platform, however the sensible tipping workflows meant they now not wanted a second cost processor to handle ideas. With built-in funds, there are fewer steps to taking ideas, making it a smoother expertise for each clients and workers.
“As a small enterprise, lots of people tip us on retail purchases. So with tipping by Lightspeed Funds, ideas have gone up about 11% with folks tipping on retail purchases, not simply grooming.”
2. Seamless, correct funds
As a busy cafe, St. Judes in Sydney, Australia, must shortly course of transactions to maintain queues quick and decrease buyer wait instances—each second saved or optimized means additional cash for his or her backside line.
With their previous cost system, the group was spending pointless time manually punching within the worth of every order into their cost terminal. Not solely was this time-consuming, however it was additionally liable to human error, creating variances.
With Lightspeed’s embedded cost system, Adam Celestino, proprietor of St. Judes, explains how the enterprise overcame these points.
“We’ve had Lightspeed funds now for a month, and it’s saved us double the time since you solely enter into Lightspeed, and growth, the funds are there for the client.”
“It’s all built-in by the POS system correctly now. So yeah, we’re saving heaps of time.”
Not solely has Lightspeed Funds saved time, however it additionally ensures accuracy, minimizing variances and making reconciliation a breeze for the group at St. Judes.
“Variances simply don’t exist anymore as a result of every little thing runs by the POS… It’s simply made it a lot simpler.”
“We get the studies each single day about what’s come by, and it’s simply introduced every little thing into one little bit of software program, one spot for us to see every little thing that we would like.”
3. Safe funds
Neal’s Yard is a distinguished cosmetics and skincare model within the UK. They carried out Lightspeed Funds throughout 40+ shops—a major endeavor with operational and safety considerations that Lightspeed’s unified resolution alleviated.
“We went out to the market with a protracted record of standards… and the one one which ticked all the bins was Lightspeed,” says Paul Stephens, Head of Knowledge & Know-how.
“Lightspeed Funds was an apparent selection for us due to the safety and the simplicity it offers, and the mixing with the system.”
“I at all times have a give attention to confidentiality, integrity, availability and ease as my core pillars, and so it simply made full sense to go along with Lightspeed funds as a result of it fulfils all of these standards.”
4. Fast and correct reconciliation
With three places within the Carolinas and Florida, Opulence of Southern Pines focuses on handpicking luxurious mattress and tub gadgets.
After years of utilizing an antiquated system, they upgraded to Lightspeed and skilled enhancements throughout their multi-store operations.
“Enterprise has grown since utilizing Lightspeed, as a result of Lightspeed has allowed my gross sales groups to spend extra time on the gross sales ground, giving clients that private consideration to supply a greater expertise within the retailer,” explains Tanda Jarest, Proprietor of Opulence of Southern Pines.
Certainly one of Tanda’s favorite issues about Lightspeed is how fast, simple and correct it’s to reconcile funds every month, which was a time-consuming activity.
Due to Lightspeed’s embedded funds, the method solely takes minutes, moderately than a complete day. Plus, with every little thing unified in a single system, there are not any errors or discrepancies of their income—making certain a clean and error-free monetary operation.
“Lightspeed Funds diminished errors by 100%. Earlier than Lightspeed Funds, I had 4 terminals, and I had 4 statements that needed to be reconciled each month. It was a complete total day course of. Now it takes ten minutes to reconcile every little thing.”
5. Save on processing charges
Metropolis Fowl is a curated present store with a give attention to merchandise that commemorate its hometown, Detroit, and was co-founded by sibling group Emily and Andy Linn.
With Lightspeed, the Metropolis Fowl group manages every little thing from funds to stock from one platform, giving them the liberty to promote wherever and innovate.
“We’ve used Lightspeed for greater than a decade, and there’s at all times been one thing extra that our enterprise may develop into with Lightspeed. It’s helped us discover new paths for the enterprise, discover new efficiencies and new methods to develop,” says Andy.
For Andy, the most effective issues about Lightspeed Funds is the cash they’ve managed to avoid wasting on cost processing.
“We love Lightspeed Funds,” feedback Andy. “We switched a few 12 months and a half in the past, and so they shaved about half a degree off of our cost processing price, which is large.”
However that’s not all. From the glossy {hardware} to the intuitive software program and reliability, Lightspeed Funds has had a huge effect on their operations.
“The {hardware} and software program are simply far superior to something we’ve used earlier than. The terminal is glossy and fashionable, and has all of the options we want,” says Andy.
“The software program is implausible and intuitive, and it’s nice the way it hyperlinks proper into Lightspeed. So if you wish to see funds that have been processed, you’ll be able to simply click on some buttons proper within the POS display on the iPad and see the cost because it comes by.”
“It’s very intuitive for all employees to make use of as wanted, and it really works nicely. We’ve additionally discovered prior to now, typically, different processors have downtime or a whole lot of bugs and a whole lot of points, and we actually haven’t seen that with Lightspeed Funds.”
6. All monetary data in a single place
Lively Child Co. is a multi-store retailer in Australia that sells on child put on and equipment. With enlargement entrance of thoughts, consolidating funds and gross sales reporting is the precedence for Emily Ciappara, Lively Child Co’s Accounts Supervisor. “The funds have been a lot simpler within the sense of every little thing’s type of simply multi functional; I don’t have to fret about my Afterpay account after which my ANZ account after which all of the completely different sorts of the way folks pays.”
Lightspeed’s unified method has additionally simplified their course of by bringing collectively their monetary data in a single place.
“It’s all simply performed collectively, so I don’t have to fret an excessive amount of about discovering data from completely different locations. It’s all inside Lightspeed, which is absolutely useful.”
Plus, with plans to open extra shops over the approaching years, Emily needed to make sure the administration group may perceive the numbers she reported.
“All the things tends to be fairly easy… After I steadiness the three shops on the finish of the month, I don’t have too many points,” says Emily. “It’s all inside Lightspeed, which is absolutely useful.”
7. Eliminates human error
Cubitt Home is a household of eight luxurious pubs, eating places and boutique resorts in London and every venue has its personal distinct character and a connection to the neighborhood.
After increasing from 5 places to eight within the area of a 12 months, Cubbit Home wanted a POS and funds platform that might be relied upon to scale with the enterprise.
“One of many key promoting factors of Lightspeed is that it permits us to function as 5 venues or 3,000–it’s scalable,” mentioned Marta Tokarz, Head of Beverage and Bar Operations.
With eight places to run, Cubitt Home couldn’t afford to waste time on guide work. That’s why Lightspeed Funds was the proper resolution for the pub group.
“Lightspeed Funds improves our shut of day by eliminating human error. Beforehand, you’d have to make use of all of your printouts from the day, all of the slips from PDQs and transactions to be able to match them and get readability. With Lightspeed, every little thing is in a single place,” Marta defined.
How can Lightspeed’s unified platform assist your enterprise thrive?
Lightspeed’s unified POS and funds platform affords a variety of advantages that assist formidable retail and hospitality companies increase effectivity and enhance their backside line.
Due to Lightspeed’s unified platform, companies can save time on day-to-day duties, guarantee fast and correct reconciliation, and supply a seamless cost expertise for purchasers. Plus, with all POS and cost data in a single place, companies can entry complete gross sales reporting to simplify their monetary operations.
With Lightspeed’s embedded funds, it’s now simpler than ever to streamline your processes, improve the client expertise, and give attention to scaling and development.
