NCR Corporation has entered into a partnership agreement with Starbucks

NCR Corporation (NCR), a financial software and payment services provider for various business areas, has entered into a partnership agreement with the Starbucks Corporation (SBUX) restaurant chain. 

For NCR, this opens access to a large audience, and for investors, it is a positive signal of the demand for the NCR platform. In addition, NCR will provide digital services for Starbucks coffee shops in the EMEA region (Europe, Middle East, and Africa). The subject of the transaction is the services of the NCR platform for monitoring business processes in real-time, remote problem solving, reporting, and multilingual support for the operation of retail outlets. 

Against the background of the COVID-19 pandemic, many catering and hotel companies have launched programs to reduce administrative costs and create favorable conditions for the sale of NCR solutions designed for retail automation. Thus, NCR can expand its presence in the market, and the ideal situation is already visible in the reports. 

Last quarter, NCR’s revenue grew by 20% year on year to $1.9 billion. At the same time, revenue from the segment of solutions for the hotel business increased by 29% to $223 million. In addition, NCR has entered into a partnership agreement with the American retail chain Royal Farm, selling self-service solutions for more than 250 stores. Earlier, NCR expanded its long-term partnership with PenFed Credit Union, the second-largest federal credit union in the United States, gaining access to an audience of 2.4 million members and 1,200 ATMs. NCR is also entering new markets. 

So, in August, NCR acquired a software provider for the LibertyX cryptocurrency. At the auction on November 25, the NCR stock was worth $42.51.