Building on Diebold's omni-channel expertise in the financial services industry, the new concept combines the core capabilities of the automated teller machine (ATM) with the convenience of contactless mobile payments and self-checkout. With in-store mobile payments expected to reach $118 billion by 2018, consumer acceptance of digital wallets and mobile payments continues to blur the line between the banking and retail consumer experience.

Introducing simplicity to the in-store shopping experience, the new concept enables consumers to scan items they want to purchase while shopping in-store via their mobile device. Once a consumer is ready to pay, they simply tap their phone at the self-checkout unit to pay for the items when exiting. Payment is made via preloaded card information found in the consumers' mobile wallet within the retailer's mobile app or cash inserted into the terminal. Cash-back can also be offered through the checkout terminal, which can function as an ATM. This process eliminates traditional checkout lines and increases consumer loyalty through the use of stored-value cards, mobile marketing campaigns and membership rewards programs.

"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," said Frank Natoli, Diebold executive vice president, self-service technology. "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."