Diebold Inc. has introduced a new mobile-enabled self-checkout concept that the company hopes to bring to different retail segments, including grocery stores. 

The company said in a press release that the new concept combines the core capabilities of the ATM with the convenience of contactless mobile payments and self-checkout.

As they shop in-store, customers use their mobile device to scan items they want to purchase. When ready to check out, the customer simply taps their phone at the self-checkout unit to pay for the scanned items.

Payment is transacted in one of two ways: via card information preloaded to the retailer's app within the mobile wallet; or with cash inserted into the checkout terminal. The customer can also obtain cash back through the terminal, which can function as an ATM.

Diebold said that the 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," said Frank Natoli, Diebold executive vice president of self-service technology. "Our omnichannel expertise has enabled us to reimagine the use of our fast, secure ATM technology to power the new, mobile-enabled self-checkout."