Waitrose Extends Collaboration with NCR Atleos, Expanding Cash Access

Rhea-AI Summary

NCR Atleos (NYSE: NATL) has secured a new five-year agreement to provide Cashzone Network ATMs in Waitrose supermarkets across the UK. The collaboration between Atleos and the John Lewis Partnership, Britain's largest employee-owned business, has successfully increased awareness of John Lewis Money products and improved cash accessibility for consumers. The partnership builds on their decade-long relationship, focusing on providing secure and convenient cash withdrawal services in store locations.

Positive

• Secured new five-year contract extension with major UK retailer
• Maintains strategic presence in premium retail locations
• Strengthens long-term revenue stream through extended partnership

Negative

• None.

Insights

Financial Services Analyst

The renewed five-year ATM service agreement between Waitrose and NCR Atleos demonstrates strategic value in retail banking partnerships. While specific financial terms aren't disclosed, this deal strengthens Atleos' position in the UK retail banking infrastructure market and provides steady, recurring revenue streams. The partnership with John Lewis Partnership, the UK's largest employee-owned business, gives Atleos premium placement in high-traffic retail locations.

The extension signals strong performance of existing installations and suggests healthy transaction volumes. For Atleos, these retail partnerships are important as they expand their self-service banking network while helping retailers drive foot traffic and provide essential financial services. The deal supports Atleos' business model of generating recurring revenue through long-term service contracts with major retailers.

ATLANTA--(BUSINESS WIRE)-- NCR Atleos Corporation (NYSE: NATL) (“Atleos”), a leader in expanding self-service financial access for financial institutions, retailers and consumers, today announced a new five-year agreement to provide Atleos’ Cashzone Network ATMs in the John Lewis Partnership’s Waitrose supermarkets across the UK.

The John Lewis Partnership owns and operates two of Britain's best-loved retail brands - John Lewis and Waitrose. Started as a radical experiment over a century ago, the Partnership is now the largest employee-owned business in the UK. The company and Atleos have built a successful relationship, with Atleos installing ATMs in premier Waitrose locations. This collaboration has resulted in increased awareness of the John Lewis Money products and easier access to cash for consumers.

“Atleos has been a trusted strategic teammate over the past decade. Brought together by our shared customer-first values, we have been able to innovate around cash access and provide customers with a simple, secure way to withdraw cash in store,” said Andy Piggott, Director of Credit and Banking at John Lewis Money.

“Consumers expect to be able to access cash and financial services at trusted retailers,” said Diego Navarrete, executive vice president, Global Sales for Atleos. “We are proud to team with leading retailers such as John Lewis Partnership to make this happen.”

About Atleos

Atleos (NYSE: NATL) is a leader in expanding self-service financial access, with industry-leading ATM expertise and experience, unrivalled operational scale including the largest independently-owned ATM network, always-on global services and constant innovation. Atleos improves operational efficiency for financial institutions, drives footfall for retailers and enables digital-first financial self-service experiences for consumers. Atleos is headquartered in Atlanta, Georgia, with approximately 20,000 employees globally.

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About the John Lewis Partnership

The John Lewis Partnership owns and operates two of Britain's best-loved retail brands - John Lewis and Waitrose. Started as a radical experiment over a century ago, the Partnership is now the largest employee-owned business in the UK, with around 74,000 employees who are all Partners in the business. The partnership is purpose-driven, existing to create a fairer and more sustainable future for our Partners, customers, suppliers and communities. Our Purpose not only inspires our principles, drives our decisions and acts as our guide to be a force for good, it steers us to do things differently and better - all in service of creating a happier world for everyone and everything we touch. We operate JohnLewis.com, Waitrose.com, 34 John Lewis shops and 329 Waitrose shops, including a growing number offering a selection of John Lewis products.

Waitrose has partnerships with Dobbies Garden Centres, Shell, Uber Eats and Deliveroo as well as supply agreements with Margiotta stores in Scotland and Alliance shops in Jersey. Outside of retail, John Lewis Financial Services continues to grow providing insurance, the Partnership credit card, foreign currency and investments, and is currently proposing to deliver 1,000 new rental homes across three local communities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241115691919/en/

Scott Sykes

NCR Atleos

scott.sykes@ncratleos.com

Source: NCR Atleos Corporation

FAQ

What is the duration of NCR Atleos' new agreement with Waitrose?

NCR Atleos (NATL) has signed a new five-year agreement with Waitrose to provide Cashzone Network ATMs in their supermarkets across the UK.

What services will NCR Atleos provide to Waitrose under the new contract?

NCR Atleos will provide Cashzone Network ATMs in Waitrose supermarkets, offering cash withdrawal services and supporting John Lewis Money products.

How long has NCR Atleos been partnering with the John Lewis Partnership?

NCR Atleos has been partnering with the John Lewis Partnership for over a decade as a strategic teammate.