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NCR Closes Purchase of Crypto Service LibertyX

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Enterprise technology provider NCR has completed its acquisition of crypto software maker LibertyX, the company said Thursday (January 13).

“LibertyX is a strong strategic fit for NCR as it accelerates NCR’s ability to quickly provide a complete digital currency solution to its customers, including the ability to buy and sell cryptocurrency, make cross-border transfers, and accept crypto payments via digital and physical means,” said NCR at Press release.

Read more: NCR to buy crypto ATM network

LibertyX’s digital currency solution works on ATMs, kiosks, and point-of-sale systems. After the acquisition, NCR will use its Pay360 platform to offer this same solution to banks, retailers and restaurants. Pay360 gives financial institutions a secure way to submit cash deposit/withdrawal transactions from mobile banking apps, websites and customer service centers.

Georgia-based NCR announced that it signed a definitive agreement to acquire LibertyX in August of last year.

“As consumer demand grows, our customers need a complete digital currency solution, including the ability to buy and sell cryptocurrency, make cross-border transfers and accept digital currency payments across digital and physical channels,” said Tim Vanderham, chief technology officer at NCR. the time. “The LibertyX solution will accelerate our ability to quickly bring these capabilities to market.”

Learn more: NCR’s LibertyX deal and the relationship between banking and Bitcoin

As PYMNTS reported in August, the deal gives NCR — through the LibertyX app — access to a fleet of 20,000 retail stores and 9,500 bitcoin distribution sites. LibertyX says users can buy up to $3,000 a day in bitcoin using their debit cards at ATMs, $500 a day at retail locations and $3,000 a day at cash kiosks.

Read more: NCR signs $2.5 billion acquisition of Cardtronics at $39 a share

Last year also saw NCR buy non-bank ATM operator Cardtronics for $2.5 billion in an all-cash deal.

“This transaction accelerates the NCR-as-a-service strategy we laid out at Investor Day in December, and transforms NCR’s revenue mix into software, services and recurring revenue, adding value for our customers,” said NCR President and CEO, Michael D. Hayford said then.

He added that the deal has its roots in NCR’s long relationship with Cardtronics, whose Allpoint network is “largely complementary to the NCR payments platform.”

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