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ATLANTA - InComm Payments has integrated NCR Atleos’ (NYSE:NATL) ReadyCode API to enable cardless cash withdrawals across more than 23,000 ATMs nationwide, according to a press release statement issued by the companies. According to InvestingPro data, Atleos maintains strong financial health with an EBITDA of $850 million and shows promising growth potential, as net income is expected to increase this year.
The partnership allows InComm Payments’ fintech and banking partners to offer their customers the ability to withdraw cash from ATMs without physical cards by using secure codes delivered through their existing applications. The service is available at ATMs inside retail locations across more than 40 states, covering over 70 of the top population centers in the U.S. With a market capitalization of $2.17 billion and trading at an EV/EBITDA ratio of 5.7x, Atleos appears undervalued according to InvestingPro’s Fair Value analysis.
"Atleos ReadyCode API offering provides an additional modality and channel for our money movement partners and their consumers to access cash in a self-service manner at ATMs located at some of the nation’s most convenient retailers," said John Houseal, VP of Product at InComm Payments.
The collaboration aims to bridge the gap between digital and physical financial services by providing consumers with more flexible transaction options. Ben Bregman, Senior Vice President of Global Network Solutions at Atleos, noted that the relationship will "provide additional use cases to drive utilization of the ATM for increasingly digital first providers beyond traditional financial institutions."
InComm Payments, a global payments technology provider, delivers payment solutions across various industries including retail, healthcare, and financial services. Atleos, which trades on the New York Stock Exchange under the ticker NATL, specializes in self-service financial access and operates one of the largest independently-owned ATM networks. Get deeper insights into Atleos’ financial performance and growth prospects with InvestingPro, which offers comprehensive analysis and additional ProTips for informed investment decisions.
In other recent news, NCR Atleos Corp has reported its Q1 2025 financial results, revealing a strong performance with earnings per share (EPS) of $0.64, marking a notable 56% increase from the previous year. The company generated $966 million in revenue, which fell short of the prior year’s constant currency basis, yet demonstrated robust operational efficiency with a 9% increase in adjusted EBITDA. Despite the revenue miss, the firm maintained its leadership in the ATM industry and expanded its Allpoint network through strategic partnerships, such as with 7-Eleven. Analyst firm DA Davidson reiterated its Buy rating for NCR Atleos, maintaining a price target of $60.00, citing optimism around self-service banking demand and the company’s progress in ATM-as-a-Service offerings. Additionally, Wedbush initiated coverage with an outperform rating, highlighting NCR Atleos’ strong free cash flow generation and potential to leverage its ATM installed base. The company is also focusing on debt reduction initiatives, which could lead to potential capital returns to shareholders. These developments reflect NCR Atleos’ strategic efforts in enhancing its service offerings and expanding its market presence.
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