NCR Corp. (NCR) announced that payment processing company Vantiv Inc. (VNTV) will be using its APTRA Edge software. Financial details of the deal were not divulged.
Ohio-based Vantiv has been in the business of payment processing for over 41 years. The company serves merchants (retail, restaurant, healthcare, supermarket, drug store) and financial institutions across the U.S. and processes more than 12.9 billion payment transactions and approximately $426 billion in volume annually. Currently, Vantiv supports more than 400,000 merchant locations and more than 12,000 automated teller machines (ATMs) in 46 states and 8 countries.
Vantiv, which has been using NCR’s APTRA Edge software for years, will now use it to support ATMs, which use multivendor software. The reason behind this is that APTRA Edge offers utmost flexibility regardless of the ATM manufacturer or switching provider. APTRA provides an open solution based on Microsoft Corp.’s (MSFT) Windows, enabling the financial institution to simultaneously offer self-service applications from different hosts and deliver these across hardware from multiple vendors.
Multivendor software enhances the efficiency of an ATM network and allows a financial institution to leverage its network for a competitive advantage. Multivendor software reduces costs, increases network efficiency and security at an ATM and thereby reduces supervision as well as maintenance costs. The benefits of such software are prompting financial institutions to move to a flexible multivendor environment.
With APTRA, Vantiv will be able to connect itself to non-NCR ATMs and grow its exposure in the financial services sector. This would also create an opportunity for NCR software solutions, which could attract more companies like Vantiv.
We remain highly positive about NCR’s broad exposure in the ATM space. According to a study published by Retail Banking Research, NCR has been the world's largest supplier of multi-vendor ATM middleware and applications for 25 consecutive yearsamidst stiff competition from Diebold Inc. (DBD) and Wincor Nixdorf.
Currently, NCR has a Zacks #4 Rank (short-term Hold rating), reflecting the impact of the charge under the Foreign Corrupt Practices Act.
More From Zacks.com
- Technology & Electronics
- financial institutions