Mobile POS provider LightSpeed has announced LightSpeed Payments, a new payments platform coming this fall in partnership with Element Payment Services, a Vantiv company. With LightSpeed Payments, retailers will no longer need to deal with a third party to begin accepting credit and debit cards or access critical information about financials. Additionally, LightSpeed will offer a transparent flat-rate pricing model and support for Apple Pay.

“Payments is the next step in our plan to make it possible for retailers to manage their entire business within LightSpeed,” said LightSpeed CEO Dax Dasilva. “By combining the point-of-sale with payment processing, LightSpeed will be able to offer retailers an end-to-end experience superior to anything in the market. This partnership eliminates the time-consuming task of reconciling between two different systems and will surface information inside of LightSpeed that will allow retailers to make better informed decisions.”

LightSpeed also has announced that it closed $35 million in new funding led by Canadian investment firm, iNovia Capital, and previous investor, Accel Partners. This is LightSpeed’s second round of funding, bringing total capital raised to $65 million.

According to the company, its technology is used by more than 20,000 retailers in more than 30 countries. The company processes more than $7.5 billion in transactions annually.