First Data, the eCommerce company, and payments hardware giant NCR Corp. are now partners in a strategic agreement, the two companies said on Monday (Nov. 16). Financial terms remain undisclosed.
Under the terms of the pact, First Data will become a preferred provider of payment card acceptance, cybersecurity and payment processing solutions to NCR’s customers across the petroleum, convenience store and grocery industries. NCR, in turn, will become a preferred provider of ATM hardware and services to the 4,000 financial institutions across First Data’s client roster.
In addition, the two companies will pursue co-development of integrated commerce technology geared toward U.S. merchant companies who are also clients.
In a statement by Bill Nuti, chairman and CEO of NCR, the executive said: “As respective leaders in payments and consumer transaction technologies across multiple industries, First Data and NCR are uniquely positioned to add customer value through a holistic consumer experience from the initiation of a transaction to its completion. We believe this new relationship will help drive revenue growth, reduce costs and improve security for our customers. As payment security continues to drive decision-making among CIOs and CTOs, NCR and First Data’s unique payment security software will create a winning combination for retailers.”
The partnership will also develop a payments security infrastructure that will include the First Data TransArmor Data Protection solution, which will be integrated with NCR’s Epsilon and Connected Payments Gateway. The latter is a routing technology that is delivered through a Software-as-a-Service configuration. TransArmor provides encryption and tokenization security across each stage of the transaction. There also will be an agreement in place for providing enterprise licenses for NCR CxBanking software, including APTRA applications and NCR Kalpana, the companies said in their joint release.
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