Promotional Terms & Conditions: Lightspeed Payments

Contract Buyout – Discount on Processing Fees

This promotion is available for new or existing Lightspeed customers based in the United States and Canada who have agreed to the Lightspeed Payments Platform Agreement with Lightspeed Commerce Inc. or  Lightspeed Payments USA Inc., as applicable (“Lightspeed”) for Lightspeed Payments (each, an “Eligible Customer“). Lightspeed, in its sole discretion, may discount Eligible Customers’ payment processing fees if they have been charged a termination fee by a third party payments solution provider, provided that such Eligible Customer: 

(i) executes an Order Form with Lightspeed for Lightspeed Payments; 

(ii) submits a merchant application and is approved by Lightspeed; 

(iii) processes transactions on Lightspeed Payments representing $25,000.00 in card volume or more (the “Processing Minimum”); and 

(iv) provides Lightspeed with documentation, in a manner acceptable to Lightspeed, evidencing the applicable cancellation fees charged to Eligible Customer by such third party payments solution provider (the “Documentation”). 

Lightspeed reserves the right to request additional Documentation. The Eligible Customer must submit the Documentation within 6 months of reaching the Processing Minimum after which this Promotion shall no longer be available. Eligibility for the promotion shall be at Lightspeed’s sole discretion. Limited time offer. Lightspeed may terminate this promotion or modify its terms at any time.

Free Hardware 

Apple products are excluded from this offer. Eligible Customers will be entitled to receive two payment terminals free of charge (each, a “Terminal”). The Terminals will be shipped to an Eligible Customer upon receipt by Lightspeed of a complete application for Lightspeed Payments.  Eligible Customers will be required to reimburse Lightspeed for the list price of the Terminals if Customer fails to Actively Process transactions with Lightspeed Payments. “Actively Process” shall mean the Eligible Customer processes bona fide transactions representing a minimum daily average of $100.00 in local currency transaction volume, as measured monthly. Fees for additional products and services may apply as identified on the Order Form. The hardware unit is not transferable or exchangeable and cannot be taken as cash. Delivery of the hardware is subject to availability on a first come, first serve basis.

“Meet or Beat” Processing Rates Policy

This policy is available only for (i) existing Lightspeed (and Lightspeed affiliates’) customers and (ii) first time Lightspeed Payments customers. Lightspeed’s “meet or beat” policy applies to processing fees only and does not include software or hardware costs. Merchants must provide Lightspeed at least three months of their most recent card processing statements. Lightspeed reserves the right to request additional card processing statements. Lightspeed will determine what processing rate is required to “meet or beat” merchant’s current processing rate by conducting a processing fee analysis that includes a discretionary review of merchant’s card profile volumes, card brand blends, associated processing fees, and other relevant factors. If Lightspeed concludes for any reason that it cannot “meet or beat” merchant’s current processing rates, merchant shall be exempt from migrating to Lightspeed Payments and paying transaction fees specified in section 5.4 of the Lightspeed Service Agreement. Approval subject to standard Lightspeed Payments underwriting and onboarding process. Limited time offer. Lightspeed may terminate this policy or modify its terms from time to time. For greater certainty, nothing in this policy amends or overrides Lightspeed’s right under the Lightspeed Services Agreement and/or Lightspeed Payments Platform Agreement (collectively with the Lightspeed Service Agreement, the “Agreement”) to amend the Agreement, including making changes to the fees and scope of the products.