ATM and Shopping in One: Diebold Introduces Contactless Payment Checkout

With a major foothold in the ATM hardware and software market, Diebold is taking that experience to the retail commerce world with the introduction of a new contactless checkout concept. A self-service checkout terminal, the product is enabled for contactless Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to meet rising in-store mobile payments which they estimate will reach $118 billion by 2018. In addition, the product includes ATM cash withdrawal features that can be initiated with mobile devices.

The product is available to transact purchases through a retailer’s mobile app as well as with cash. As such, Diebold is counting on the product finding interest among retailers that are using mobile payment apps and incentive programs to increase customer loyalty for their shopping.

The use of contactless payments and a combined shopping and ATM experiences occurs as Diebold has been developing and testing solutions that Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term new technologies. In October of 2015, in conjunction with Citi, Diebold introduced an ATM machine that uses retina scanning for user verification.

Commenting on the current offering, Frank Natoli, EVP of Self-Service Technology at Diebold, stated: “As a proven leader in delivering financial service solutions to top retailers, we see many similarities between the worlds of banking and retail. Our omni-channel expertise has enabled us to reimagine the use of our fast, secure ATM technology to power the new, mobile-enabled self-checkout. A convergence of the ATM, self-checkout and mobile would not only deliver speed and convenience to consumers, but also standardizes all cash handling into a single automated experience."