Players in the payments space aren’t just going to sit around while Square gobbles up their market, nosiree. PayPal has their blue dongle; as of June, NCR (best known for making ATMs, airport kiosks, and the like) will have NCR Silver, its own device and software system allowing merchants to accept payments via iPad and iPhone.
It’s quite clear from this Fast Company piece that NCR is sweating bullets over Square. Reps from all rungs of NCR’s corporate ladder chimed in to voice their superiority to the startup. Here’s VP of speciality retail Christian Nahas:
Everyone would like to tout how big Square is–and they’ve done a good job making themselves relevant–but we processed more than $7 billion in transactions last year in [the POS] space. We think Square is a great solution if you’re a hobbyist.
Burn, you guys.
For the record, Square has reported they’re now processing $4 billion in payments annually. And it sounds like NCR wants to keep the lines of communication open: CEO William Nuti remarked to the magazine that, “Companies like Square and PayPal will probably end up being partners of ours,” though he didn’t elaborate and Square didn’t comment. Perhaps NCR wants to make a play for the hobbyist market?