NCR continues to fill its shopping cart. Earlier this month, the company announced its acquisition of Freshop, a software developer for online order fulfillment in the grocery space, a vertical that NCR knows exceptionally well.
Now NCR looks to continue bulking up its payment chops by buying Cardtronics. In late 2018, NCR bought Jet Pay and its merchant payments platform. These moves accentuate NCR’s push into more added-value software and services for the retail, restaurant, and banking sectors.
The following excerpt from a ZDNet article reports more on the topic:
NCR said Monday that it’s buying Cardtronics in a deal valued at $2.5 billion. NCR, a predominate maker of ATMs and point-of-sale terminals, plans to use the deal to accelerate its as-a-service strategy and non-hardware revenue.
Cardtronics is a non-bank ATM operator and provider of managed services and payment processing for retailers and financial institutions. NCR said Cardtronic’s Allpoint retail-based, surcharge-free ATM network is highly complementary to NCR’s payments platform. The company also sees an opportunity to push further into the payments space via Cardtronics’ existing network and installed base.
“This transaction accelerates the NCR-as-a-Service strategy we laid out at Investor Day in December, further shifts NCR’s revenue mix to software, services and recurring revenue, and adds value for our customers,” said NCR chief executive Michael Hayford. “We have had a long-standing relationship with Cardtronics and its outstanding team. Its Allpoint network is highly complementary to NCR’s payments platform, and the combined company will be able to seamlessly connect retail and banking customers. Simply put, we are better together.”
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group