Dive Brief:
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Montreal-based LightSpeed Retail Inc. will use a new round of funds from investment firms INovia Capital and Accel Partners Ltd. to expand its operations and integrate many of its systems into its own software.
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The $35 million infusion brings its total investment funding since 2012 to $65 million.
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LightSpeed will integrate its platform with Apple Pay as well, the company said.
Dive Insight:
Many observers have said for a while now that mobile payments are ready to take off. Now, apparently spurred in part by Apple’s recent introduction of its Near Field Communication-based app, that seems ready to finally come true. The infusion of capital to a company like LightSpeed demonstrates a certain level of confidence in the future of mobile payments. Ultimately, consumers will decide, but retailers can get ready.