NCR , best know for its ATM’s and POS solutions, has announced a definitive agreement to acquire LibertyX, a cryptocurrency software provider, with a view to providing a complete digital currency solution for Banks, Retailers and Restaurants.
“Due to growing consumer demand, our customers require a complete digital currency solution, including the ability to buy and sell cryptocurrency, conduct cross-border remittance and accept digital currency payments across digital and physical channels,” said Tim Vanderham, Chief Technology Officer, NCR Corporation.
“The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”
The LibertyX digital currency solution runs on ATMs, kiosks and point-of-sale (POS) systems, partnering with independent ATM operators, like Cardtronics, who own and manage ATMs in the US at locations like convenience stores, pharmacies, and supermarkets.
Moving forward, NCR will offer the LibertyX capabilities as part of its solutions for banks, retailers and restaurants. NCR’s digital wallet and mobile applications will provide these capabilities across NCR’s physical and digital touchpoints.
“NCR is an industry leader in banking, retail and hospitality, and has a tremendous customer base across our growth markets,” said Chris Yim, co-founder & CEO, LibertyX.
“We look forward to offering NCR’s customers the ability to quickly and easily offer the digital payments and cryptocurrency capabilities consumers want, while significantly expanding the scope, scale and reach of our software.”
Financial terms of the transaction were not disclosed. The transaction is expected to close later this year. It is subject to customary closing conditions, including obtaining certain regulatory licensing consents and approvals.