Partnership between NCR, PayPal and S1
- NCR, PayPal and S1 are partnering to allow real-time P2P funds transfers at ATMs. This service will first be launched in the US to enable funds transfers to 60 countries.
- Once authenticated at the NCR ATM, the initiator enters the recipient’s phone number or his e-mail address as well as the amount he wished to transfer. This amount it immediately credited to the recipient’s PayPal account.
- As of Q1 2012, the service will be available with banks connected to S1 payment platform and using NCR Aptra Edge application.
- NCR has been very present these past months and is obviously expanding its development strategy through enhancing its ATM service offering.
- With this agreement, PayPal further improves its positioning and could enrich its customer basis (an active account is needed to receive the amount, enrolling is necessary). This service is intended for both individual customers and professional ones (or SMEs), enabling them to pay otherwise located providers. In April 2011, PayPal also partnered with Discover around the online P2P payment offer Money Messenger: there again, the recipient must have a PayPal account (See April 2011 Insight).
- This initiative prefigures the development of its physical POS offer: PayPal tries to provide for the acceptance of this solution through covering several means of payment and locations.