NCR Corporation NCR recently announced that its cloud-based point-of-sale (POS) system, NCR Silver, has been implemented by Waffle House, an iconic Southern restaurant brand. According to the company, Waffle House has rolled out the POS system at 1,400 corporate locations across the country.
The POS system has not only helped Waffle House modernize its restaurants, but also enhance customers’ experience by significantly reducing transaction time to 3 seconds from 14 seconds. Further, the 60-year old restaurant franchise has developed written and visual training materials for NCR Silver to help its staff learn it easily on their mobile devices. Once fully implemented, Waffle House believes the POS solution will maximize the effectiveness of its managers.
NCR Silver provides merchants with a complete cloud-based POS system compatible with mobile devices. In Dec 2014, the company integrated its NCR Silver with LevelUp to provide an alternative mobile payment option to small businesses, especially fast casual restaurants.
LevelUp’s mobile loyalty and payment platform has seen quite a success since it accepts payments through mobile devices and allows customers to accrue/redeem their rewards with a single tap or scan. Moreover, the company’s application helps businesses to better understand their customers and accordingly design their marketing campaign, thereby boosting customer satisfaction and driving revenues.
Furthermore, NCR Silver now supports bitcoin payment — a digital currency created in 2009. More people are now opting for this mode of payment as it does not require any middle men, transaction fee or the need to disclose identity to complete the transaction.
The demand for NCR Corporation’s POS solution is increasing among retailers and restaurant owners as it facilitates the automation of bill payment and accounting. As a result, managers get ample time for customer interaction, leading to increased productivity. NCR strengthened its position in the POS market through the acquisition of Radiant Systems in Aug 2011.
We believe that NCR Corporation’s growth in the ATM and self-service kiosk space is encouraging, given the tremendous growth prospects. Continued product launches, growing popularity of its self-service offerings and synergies from acquisitions are the other catalysts. We consider that NCR Corporation’s commitment to protect the trust and integrity of the ATM channel has led banks and a host of other financial institutions to choose its services.
However, similar offerings from the likes of Diebold Corp. DBD and International Business Machines Corp. IBM could create some pressure.
Currently, NCR has a Zacks Rank #4 (Sell). Investors may consider VASCO Data Security International Inc. VDSI, a better-ranked technology stock in the same space sporting a Zacks Rank #1 (Strong Buy).
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