NCR Completes Purchase of LibertyX Encryption Service

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Enterprise technology provider NCR has completed its acquisition of cryptocurrency software maker LibertyX, the company announced on Thursday (January 13th).

“LibertyX is a strong strategic fit for NCR as it accelerates NCR’s ability to quickly deliver a complete digital currency solution to its customers, including the ability to buy and sell cryptocurrency, make transfers cross-border funds and accept digital currency payments across digital and physical channels,” NCR said in a press release.

Read more: NCR to buy Crypto ATM network

LibertyX’s digital currency solution works on ATMs, kiosks and point-of-sale systems. Following the acquisition, NCR will use its Pay360 platform to offer this same solution to banks, retailers and restaurants. Pay360 offers financial institutions a secure way to offer withdrawal/withdrawal transactions from mobile banking apps, websites and customer service centers.

Georgia-based NCR announced that it signed a definitive agreement to acquire LibertyX in August of last year.

“Due to growing consumer demand, our customers need a complete digital currency solution, including the ability to buy and sell cryptocurrency, cross-border remittances, and accept digital currency payments over digital and physical channels, ”said Tim Vanderham, chief technology officer of NCR. the weather. “The LibertyX solution will accelerate our ability to quickly bring these features to market.”

Read more: NCR’s LibertyX deal and the banking-Bitcoin marriage

As PYMNTS reported in August, the deal gives NCR — through the LibertyX app — access to a fleet of 20,000 retail stores and 9,500 bitcoin distribution points. LibertyX says users can buy up to $ 3,000 a day in bitcoin using their debit cards at ATMs, $ 500 a day at point of sale and $ 3,000 at payment kiosks.

Read more: NCR reaches $2.5 billion acquisition deal for Cardtronics at $39 per share

Last year, NCR also bought non-bank ATM operator Cardtronics for $2.5 billion in an all-cash deal.

“This transaction accelerates the NCR-as-a-Service strategy we showcased at Investor Day in December, shifts NCR’s revenue mix further toward software, services and recurring revenue, and adds value for our customers, ”said Michael D., president and CEO of NCR. said Hayford then.

He added that the deal has its roots in NCR’s longstanding relationship with Cardtronics, whose premium-free Allpoint network is “very complementary to NCR’s payment platform.”

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

By the way: More than half of US consumers believe that biometric authentication methods are faster, more convenient and more reliable than passwords or PINs. So why do less than 10% use them? PYMNTS, in collaboration with Mitek, surveyed over 2,200 consumers to better define this perception in relation to the usage gap and identify ways companies can increase usage.

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