Enhanced AP Automation Solutions help Lightspeed customers offset costs, prevent fraud, and leverage rebates
PORTLAND, Ore. – December 1, 2022— Corpay, a FLEETCOR® (NYSE: FLT) brand and a global leader in business payments, is partnering with Lightspeed to offer enhanced opportunities in the payment processing space for Lightspeed dealers. Lightspeed has announced a new offering, ePay, powered by Corpay Payment Automation. By integrating with Corpay Payments Automation, Lightspeed dealers will now be able to pay vendors with a simple digital solution. ePay will help dealers to save time and money, outsources payment-fraud risk, and leverage rebates to offset costs to help turn AP departments into revenue generators.
“Managing payments and credit card processing is a significant time-consuming, daily task for our dealers,” says Kris Denos, VP of Lightspeed. “The cost to pay vendors by manually cutting and processing checks impacts a dealer’s bottom line. Through our partnership with Corpay, Lightspeed ePay will now provide seamless integration with an automated payment solution. Our solution will easily execute all payments into a single digital workflow, making AP payments easier and more cost-effective.”
Lightspeed develops, implements, and supports innovative Dealer Management Software (DMS) and data solutions that help increase profitability for their dealers. Lightspeed ePay, powered by Corpay Payment Automation, works to further enable comprehensive, automated B2B payments for dealerships. The solution helps AP teams to save time and money by consolidating vendor payments into a single workflow with a seamless Lightspeed integration.
- Efficiently execute all payments in a single digital workflow: Make virtual card, check, or ACH payments in a single payment run.
- Reduce AP costs: Pushing as many transactions to a virtual card or ACH means fewer checks and less printing and postage. No more wasted time printing, reprinting, and stuffing checks.
- Simplify the reconciliation process: Reduce the time needed to reconcile your payments with our automated reporting.
- ePay Rebates Provide Financial Incentives : Moving from paper checks to electronic payments provides significant cost savings. In addition, when Lightspeed dealers move to the Lightspeed ePay solution, they’ll also receive a monthly rebate on payments made by virtual credit cards, which is typically greater than the cost of the solution and creates new revenue streams for our dealers.
“Partnering with Lightspeed, we are thrilled to help businesses focused in the Powersports/ recreational vehicle industries,” says Pam Cichoke, Corpay’s VP of Automotive Sales. “By integrating Corpay’s Payments Automation into everyday activity, businesses gain new visibility into daily transactions, helping them to make real-time business decisions and ultimately provide them with a seamless and paperless payments process.”
Lightspeed is designed to provide Lightspeed’s channel of dealers a solution to help them manage business profitably by tracking and storing data from every department, then delivering information that allows them to make successful decisions. With integrated departments, user-friendly interfaces, and innovative functionality Lightspeed equips dealers to find new revenue opportunities, eliminate unnecessary costs, and bring in more customers.
This latest integration between Corpay and Lightspeed will streamline dealers’ vendor payment and back-end processes to support profitability and allow them to focus on what they do best: serving their customers.
