Diebold Nixdorf has collaborated with Mastercard to deliver a new end-to-end managed payments service for the banking and retail industries.

The new solution, aiming to transform channel operations, will leverage Diebold Nixdorf expertise in omni-channel innovation and consumer transactions along with Mastercard’s processing services and global network capability.

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To be delivered through an ‘as a Service’ model, the solution will enable banks to reduce legacy infrastructure challenges by using Mastercard’s network switching and data/fraud analytics capabilities.

Furthermore, it will enable the financial institutions and retailers to implement new solutions and technologies smoothly.

In future, the implementation of the new solution will also enable retailers to introduce new payment types and banks to launch new products and services.

Initially, the service will be made available in the Asia Pacific region for the banking clients followed by retail clients.

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Diebold Nixdorf senior vice-president of services Olaf Heyden said: “Banks and retailers recognise that the core to success is the ability to better understand, connect and deliver differentiating services to consumers.

“To achieve this they must have laser focus on their core business; that can only come with having peace of mind in a secure, managed and future-ready channel.

“This exciting new partnership with Mastercard will deliver exactly that.”

Last month, both the parties entered into a partnership to trial two ATM service channels, namely, Mastercard Cash Pick-Up and Cardless ATM powered by Mastercard.