NCR Corporation (NCR - Free Report) recently unveiled a mobile point-of-sale (POS) solution, Ring Up,to make payments and sale process easier for millions of U.S. micro businesses.
NCR Silver’s Ring Up provides micro merchants with a complete cloud-based POS system powered by Worldpay. Operating in over 40 countries, WorldPay a provider of merchant accounts offers payment gateways for all sizes of companies, fraud management, alternative payment methods and foreign exchange.
The software is compatible with Apple (AAPL - Free Report) iOS and Android mobile devices. Ring Up will make staff more mobile, simplify credit card payments and save floor space. This new system is also expected to improve the speed of service and enhance efficiency to a considerable extent.
Ring Up’s mobile payment platform accepts payments through mobile devices by easily swiping the card and allows customers to accrue/redeem their rewards with a single tap or scan. Moreover, the company’s application aidsbusinesses to better understand their customers and accordingly design marketing campaign, consequentlyproviding a boost to customer satisfaction and driving revenues.
The launch of Ring Up would help NCR capitalize on itsentry into the fast growing micro merchant category. More people are now opting for this mode of payment as it does not require any middle men, transaction fee or the need to disclose identity to complete the transaction.
The demand for NCR’s POS solution is increasing among retailers and restaurant owners as it facilitates the automation of bill payment and accounting. As a result, managers get ample time for customer interaction, leading to increased productivity.
We believe that using this technology, micro merchants can improve customer satisfaction to a considerable extent.
Scope in POS Market
According to Global Market Insights, the global market size for POS terminals will reach $103.52 billion by 2023. The report also statesthat POS terminals market size, which at the end of 2015 was 32 million units, will reach 126 million units by 2023, reflecting a CAGR of 18.3% through the period.
Another research firm stated that the global POS terminal market, valued at $42.14 billion in 2015, is anticipatedto reach $113.27 billion by 2024. Consequently, NCR with its varied offerings of POS terminals and solutions should be able to capitalize on these growth opportunities.
The stock has outperformed the industry in the past one year. NCR’s shares have returned 18.1%, compared with the industry’s decline of 12.2%.
NCR’s growing exposure in the ATM and self-service kiosk space is encouraging, given the tremendous prospects in the respective markets. Continuous product launches, growing popularity of its self-service offerings and synergies from acquisitions are the catalysts. Continuous deal wins also drive growth.
Nonetheless, softness in the ATM business in mature markets, competition from Diebold Inc. (DBD - Free Report) and HP Inc. (HPQ - Free Report) ,and a high debt burden remain concerns.
Currently, NCR caries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank(Strong Buy) stocks here.
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