Bitcoin is one of many alternative payment methods for NCR Silver
small business merchants
DULUTH, Ga.--(BUSINESS WIRE)--Nov. 10, 2014--
The NCR
Silver™ cloud-based point-of-sale (POS) system for small businesses
such as retail shops, cafes and food trucks will offer merchants the
ability to accept bitcoins as payment.
Bitcoin support, which will be integrated with NCR Silver by the end of
2014, will be free to merchants. After registering with a bitcoin
processor, all merchants have to do is activate bitcoin as a payment
option in the POS back office within NCR Silver. Consumers, meanwhile,
pay using a mobile bitcoin “wallet” app which is available in either the
Apple App StoreSM or Google PlayTM store.
Bitcoin is an unregulated virtual currency. It is digitally
transferred from one user’s digital wallet to another without the need
for a third party. Unlike the Dollar or Euro, bitcoin is decentralized,
meaning no single authority or institution controls the Bitcoin network.
This added capability is part of NCR Small Business’ strategy to offer
integrated payment alternatives for small businesses and their customers.
Customer Mehul Patel, owner of Austin, TX-based Dominican
Joe coffee shop, was one of the first users of PayPal™ for NCR
Silver when it was launched. Patel says his independent business is
always looking for technologies that make lines move faster and engage
more early-adopter customers.
“It’s smart to be able to accept multiple payment options, as long
they’re easy to use,” Patel said. “That's one of the things I like about
PayPal, and of integration in general — no extra work. When you have
fully integrated payment alternatives, it makes customers and employees
happier. I view the recent availability of mobile payment options such
as bitcoin in the same light as the transition merchants made from cash
to card decades ago.”
The value of a bitcoin is determined by supply and demand. When bitcoin
demand increases, the price increases. When demand falls, the price
falls.
There were 1.2 million bitcoin wallets created by consumers in Q3 of
2014, representing 21 percent growth quarter-over-quarter, according to
Coindesk, which also forecasts 8 million total bitcoin wallets by the
end of 2014.
Reggie Kimble, NCR Small Business director of business development, said
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 said.
“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.
About NCR Corporation
NCR
Corporation (NYSE: NCR) is the global leader in consumer transaction
technologies, turning everyday interactions with businesses into
exceptional experiences. With its software, hardware, and portfolio of
services, NCR enables more than 485 million transactions daily across
retail, financial, travel, hospitality, telecom and technology, and
small business. NCR solutions run the everyday transactions that make
your life easier.
NCR is headquartered in Duluth, Georgia with approximately 29,000
employees and does business in 180 countries. NCR is a trademark of NCR
Corporation in the United States and other countries.
Website: www.ncr.com,
www.ncrsilver.com
Twitter:
@NCRCorporation,
@NCRSilver
Facebook:
NCR
Corp., NCRSilver
LinkedIn: NCR
Corporation
YouTube: ncrcorporation,
ncrsilverpos
Apple, iPhone, iPad and iPod touch are trademarks of Apple Inc.,
registered in the U.S. and other countries.
iOS is a trademark or registered trademark of Cisco in the U.S. and
other countries and is used under license.
Google Play is a trademark of Google Inc.
Source: NCR Corporation
Arketi Group
Jackie Parker, 404-929-0091, ext. 220
jparker@arketi.com
or
NCR
Corp.
Tim Henschel, 770-299-5100
tim.henschel@ncr.com