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NCR Announces Technology Wins (revised)

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Innovative mobile technology from NCR Corporation (NCR - Free Report) will be deployed by Spinx Company to make shopping easier for convenience store shoppers. As a result, both fueling and shopping at the Spinx chain of convenience stores is expected to get easier.

This shopping app allows shoppers to select the amount of gas they want to refill and pay for it through their smartphone. Moreover, this will take care of Spinx’s brand image, while matching its colors and guidelines.

In addition to this, NCR has won a deal from the U.K.-based “Nationwide Building Society” which has responded to the demand for more secure banking services, by deploying the NCR Skimming Protection Solution.

This is expected to help lower the losses from card skimming, which is one of the major challenges in the U.K. retail banking sector. The losses in the U.K. alone from skimming increased 13.0% to a level of £265 million in 2012.

Using this technology, banks can safeguard the interest of the customers and will also have full control over credit card transactions, creating an interactive environment where customers can perform risk free online or offline transactions and thereby, cut losses.

Although NCR already holds a leadership position in the ATM and POS market, Diebold Corp. (DBD) offers tough competition. Apart from this, NCR is making considerable efforts to spread its wings in the Asian and other African markets. The Asia-Pacific region, the Middle East and Africa are the areas where the company is witnessing strong growth.

NCR is continues to score wins in the ATM and self-service kiosk segments, making the most of the growth potential in these markets. It is also diversifying into other markets. Though stiff competition in ATM space, European exposure and high debt burden are concerns, we are optimistic on the stock given continuous product launches and synergies from acquisitions.

NCR Corp. has a Zacks Rank #2 (Buy). Other stocks in the technology industry that are currently performing well and have good visibility include Concurrent Computer Corp. (CCUR), having a Zacks Rank #2 (Buy) and Advent Software Inc. (ADVS), having a Zacks Rank #1 (Strong Buy).

(We are reissuing this article to correct a mistake. The original article, issued yesterday, June 12, 2013, should no longer be relied upon.)

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