ATM manufacturer NCR Corporation (NCR - Analyst Report) is soon to announce another innovation. The company said it is working with Jamba Juice (JMBA - Snapshot Report) and PayPal to launch a series of mobile solutions, which include Jamba Juice-branded iOS and Android mobile ordering and payment solutions.
This ordering facility is available at a few selected Jamba Juice locations that can be accessed by millions of customers through the PayPal app to place mobile orders and pay for it directly via their smartphone. This new technology has the capacity to integrate with the NCR Aloha point-of-sale (POS) platform. This new system is expected to improve the speed of service and enhance its efficiency to a considerable extent.
Moreover, NCR has secured another contract from the Conestoga Bank, which is in the process of expanding its interactive video banking program. This is one of the first financial institutions in the United States to implement the video banking technology.
Using this technology, the bank can connect the personal teller machines (PTMs) to the customers to a two-way video/audio conversation using the ATM unit. With this technology, the remote teller will have full control over the ATM unit, creating an interactive environment where the customers can perform the majority of bank transactions at 33% less time.
In the last couple of quarters, NCR has won several deals, which is a marked improvement for the company. The lack of investments by financial institutions led to lower order renewals, but the scenario has changed for the better in the last couple of months.
Although the ATM and POS market in the U.S. is in duopoly, NCR being the stronger player and Diebold Corp. (DBD - Snapshot Report) a close second, the company is making an effort to fully explore the Asian and other African markets. In order to secure more deals at regular intervals, the company is trying to get hold of additional market share in the Asia-Pacific region, the Middle East and Africa as they are deemed to see the strongest growth.
We are encouraged with the ATM order renewal rate of NCR. We believe that NCR Corp.’s commitment to protect the trust and integrity of the ATM channel has been inspiring banks and a host of other financial institutions to choose its services. As a result, some financial institutions and banks like Barclays Bank plc (BCS - Analyst Report) and UniCredit Bank, a subsidiary of Capitol Federal Financial Inc. (CFFN - Snapshot Report), have upgraded their ATMs with advanced NCR banking solutions.
Currently, NCR Corp. has a Zacks Rank #2 (Buy).