NCR to offer bitcoin payments via iPOD POS; activates cash function at video ATM

NCR to offer bitcoin payments via iPOD POS; activates cash function at video ATM

NCR is to bring bitcoin payments to the high street by integrating support for the crypto-currency via its Silver iPOD point-of-sale device for small business owners.

Bitcoin support, which will be integrated with NCR Silver by the end of 2014, will be free to merchants. Merchants must first register with a bitcoin processor in order to activate the currency as a payment option. Consumers pay using a mobile bitcoin wallet app available in the Apple App Store or Google Play pages.

Reggie Kimble, NCR small business director of business development, says one of the biggest reasons why bitcoin integration was added was to offer merchants more flexibility.

“Gone are the days when cash and cards were the only payment options available to customers shopping at small businesses,” Kimble says. “Offering bitcoin as a payment alternative allows small businesses the flexibility they need to better serve their growing number of customers who prefer digital payment solutions.”

In recent months, NCR Silver has launched in-store PayPal payments and mobile pay ahead capability.

Separately, the vendor says it has also completed the software development and certification requirements to activate ATM transactions on its video teller machines. NCR worked with First Data Corporation to certify ATM transaction functionality on the Interactive Teller units at North Shore Bank, which serves eastern Wisconsin and northern Illinois.

Since introducing the technology in early 2013, NCR has sold the technology to 150 financial institutions around the world.

To date, Interactive Teller units were set to video teller-only mode, as NCR and financial institutions worked with payment networks such as First Data to certify dual ATM and video teller transactions. NCR says it is nearing certification with other providers to offer the same dual functionality.

North Shore Bank began offering video teller service earlier this year. The bank is making remote tellers available on the device seven days a week, for a total of 70 hours.

Susan Doyle, the bank’s senior vice president of retail banking, comments: “With the activation of ATM transactions, we’re able to maximise the value of our investment by keeping the ATM on even when our tellers are not available."

Comments: (2)

Hitesh Thakkar
Hitesh Thakkar - SME - Fintech startups (APAC and Africa) - India 10 November, 2014, 17:52Be the first to give this comment the thumbs up 0 likes

NCR leveraged on uGenius Video Teller Technology to be in par with competition.

I feel 50% of those 150 financial institutes were part of acquition deal :) but, certainly NCR kept its promise of taking the technology further to bring marriage of self services as well as Video teller.

Max Excell
Max Excell - GBGroup - Chester 11 November, 2014, 13:081 like 1 like

In essence, due to major innovations in mobile technology and the ever growing rise of internet consumption, mobile payments are certainly the future. Internet use via a mobile device accounts for 55% of the world’s consumption and in the words of Brain Tree’s CEO, Bill Ready, "Bitcoin can insert seamlessly in a digital wallet in a way that a plastic card can't."

This announcement is a great step forward in ensuring mass adoption, not just in the form of the larger well known merchants, but also the sole traders and SME’s, which could allow for individuals to purchase everyday necessities with their Bitcoins.