Without question, payments processing is consuming POS. And without hesitation, there are serious downsides in choosing a POS that only offers one payments processing option.
But, when done responsibly, there are great upsides in sourcing your POS and payments processing from the same provider. For evidence of that look at Lightspeed, a POS company that offers open processing options but recently launched their own payments “service”. While merchants don’t have to choose Lightspeed Payments, 40% of all new customers are. This blows away analyst expectations which prognosticated payments attach rates of 16%.
[…] heads of 99.9% of merchants, but there are some really useful insights that are unearthed when you pair the payment data with the merchant POS/operating system. Too bad most merchants are too dumb to understand why this […]