NCR to Buy Cryptocurrency Software
NCR Corp. has struck a deal to acquire LibertyX, a cryptocurrency software provider.
The deal is expected to help NCR offer its customers digital payments and cryptocurrency capabilities while expanding the scope and scale LibertyX's software.
The LibertyX digital currency solution runs on ATMs, kiosks and point-of-sale systems. LibertyX partners with independent ATM operators, like Cardtronics, who own and manage ATMs in the U.S. at c-stores 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.
“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. “The LibertyX solution will accelerate our ability to rapidly deliver these capabilities to the market.”
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.