NCR & First Data to Co-Develop Integrated Tech Solutions
DULUTH, Ga. — First Data Corp. and NCR Corp. entered into a strategic commercial agreement, whereby First Data will be a preferred provider of cybersecurity and payment processing solutions to NCR's customers in the convenience, petroleum and grocery industries.
Specifically, First Data and NCR will collaborate to develop a payment security infrastructure that includes First Data’s TransArmor Data Protection integrated with NCR's Epsilon and Connected Payments Gateway, designed to provide a secure routing technology delivered as a software-as-a-service solution.
“We are focused on partnering with NCR to bring integrated technology solutions, including payment acceptance, security, business intelligence and digital gift card software, to clients in the petroleum, grocery and convenience store industries,” said Guy Chiarello, president of First Data. ”Merchants around the world are concerned with cybersecurity and data protection, and our collaboration with NCR enables us to offer best-in-class security to a broad range of businesses through our TransArmor solution.”
Also as part of the agreement, NCR will be a preferred provider of ATM hardware and services to First Data’s client base of more than 4,000 financial institutions. In addition, the companies will pursue co-development of integrated commerce technology solutions for U.S. merchant clients.
“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,” said Bill Nuti, chairman and CEO of NCR. “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 [chief information officers] and CTOs [chief technology officers], NCR and First Data’s unique payment security software will create a winning combination for retailers.”
Terms of the transaction were not released.
Duluth-based NCR recently announced it received an investment of $820 million from Blackstone Group in the form of perpetual convertible preferred shares. NCR will use the investment to help fund a repurchase via a self-tender of up to $1 billion of its common stock. NCR offers software, hardware and a portfolio of other services.
First Data Corp. is a global provider of commerce-enabling technology and solutions, serving approximately 6 million business locations and 4,000 financial institutions in 118 countries.