NCR Corporation (NCR - Free Report) has recently won a five-year service agreement deal from People’s Bank of China (PBOC) Shanghai Automatic Clearing Center. As per the terms of the deal, NCR would be providing on-site technical support and maintenance services to Shanghai Automatic’s intra-city clearing systems, which ensures the timely completion of 100,000 checks per day.
The center is already using five NCR E1700 imaging transports for intra-city cheque clearing. This apart, the company is also using two units of NCR iTRANImageTrac III color imaging transports, which are used for check inward service for commercial banks and multi-size voucher processing.
NCR has been providing support to Shanghai Automatic since 2005. As per the terms of the agreement, NCR will provide technical support during the clearing hours. This apart, the company will provide 24-hour hardware replacement support.
The company’s products have positioned it better to win new deals. NCR’s products offer an array of benefits to end users and customers. This helps companies improve customer experience and facilitate their business process.
NCR is catering to companies across industries with its broad range of products. The company’s advanced POS solution, remotely accessible teller machines, automated ticket vending machines and restaurant operating machines have helped it attract more customers and generate additional revenue over the last few quarters.
However, similar offerings from Diebold Corp. (DBD - Free Report) could create some pressure on NCR’s market share.
Currently, NCR has a Zacks Rank #2 (Buy). Investors could also consider other technology stocks such as Orbotech Ltd. (ORBK - Free Report) and Faro Technologies Inc. (FARO - Free Report) both with a Zacks Rank #1 (Strong Buy).