October 30, 2012, 9:43 AM

LightSpeed and Braintree Announce Partnership Agreement

A first for the retail industry, this new Monthly Maintenance Plan, is designed to help retailers manage their overall cost structure, with a level of flexibility that frees up cash flow.

MONTREAL, Canada, October 22, 2012 – LightSpeed, a leading software company that helps retailers reinvent in-store shopping, and Braintree, the fastest growing payments platform for online and mobile commerce, today announced a partnership agreement to launch a flexible monthly payment option for retailers. A first for the retail industry, this new Monthly Maintenance Plan, is designed to help retailers manage their overall cost structure, with a level of flexibility that frees up cash flow.

“After an exhaustive search for the right partner to launch this new initiative, Braintree stood out as the obvious choice due to its unmatched capabilities in next-generation commerce,” said Dax Dasilva, founder and CEO of LightSpeed. “We have been amazed by Braintree’s professionalism, and by the company’s ability to integrate its payment platform truly at the speed of light.”

Pricing for the Monthly Maintenance Plan will be $40 per month for the first User, and $20 per month for each additional User. The new plan is available to all customers that renew their Support Subscriptions. For more information on the Monthly Maintenance Plan, visit www.lightspeedretail.com.

“We are thrilled to partner with LightSpeed, and introduce payment options to theirclient base in a flexible and seamless manner,” said Bill Ready, CEO of Braintree. “By enabling monthly billing, we hope to allow LightSpeed to continue to deepen its relationship with retailers around the globe.”

About LightSpeed

LightSpeed™, led by founder and CEO Dax Dasilva, is committed to its mission of fusing innovation, technology and design to produce the mostcompelling retail business solution on any Apple platform and help retailers attain their business aspirations.  Founded in 2005 and based in Montreal and Ottawa, the LightSpeed team specializes in building next-generation retail software systems that offer business ownerspowerful, intuitive retail tools for Mac and iOS.  With financial backing from Accel Partners, LightSpeed helps retailers and product brands engage with the iGeneration shopper. For more information, please visit LightSpeed’s web site at www.lightspeedretail.com.

About Braintree

Braintree helps online and mobile businesses process credit card payments by providing a merchant account, payment gateway, recurring billing and credit card storage. The company is disrupting the payments industry by providing elegant tools for developers coupled with white-glove support. Founded in 2007, Braintree works with the world's most discerning online merchants, including LivingSocial, 37signals, Airbnb, OpenTable, Animoto and GitHub. The company is processingmore than $4 billion in annual credit card volume from more than 2,000 merchants. Braintree was profitably bootstrapped for four years before accepting a $34 million investment from Accel Partners in 2011. Braintree ranked 47th in the 2011 Inc. 500. Visit us at www.braintreepayments.com and on Twitter @braintree.

 

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