As fintechs like Stripe and Square close in on NCR's traditional businesses, the technology company is adding scale in southeastern markets through a purchase of Midwest POS Solutions.
Midwest POS Solutions has offices in Kentucky and Indiana, a 75-year history, and a client base of more than 1,000 restaurants in the region. NCR says it will retain those offices and Midwest POS' management team and staff. Financial terms of the deal were not disclosed.
NCR also has experience with Midwest POS. The company was among the first to offer Aloha, NCR's restaurant technology system, which NCR reports is used by about 75,000 restaurants globally.
Along with traditional rival Diebold Nixdorf, NCR faces fierce competition from relatively smaller merchant acquiring technology companies such as Square, Stripe, PayPal and Adyen. These companies are quickly adding services beyond payments, incrementally approaching the breadth of NCR and Diebold Nixdorf.
NCR's response has been an executive reorganization and other acquisitions, such as a $184 million purchase of JetPay, a 2018 deal that added remote software and payment technology to NCR's existing point of sale business.
