Swiss lender PostFinance has signed an eight-year service agreement with Germany’s Diebold Nixdorf to upgrade its ATM network.

Under the terms of the agreement, Diebold Nixdorf will install and support a total of 820 ATMs and cash recycling systems.

The new systems will be equipped with barcode and NFC readers, enabling users to conduct contactless transactions using a smartphone instead of a bank card.

Additionally, new cash recycling systems will be installed which will enable customers to deposit cash and coins.

Diebold Nixdorf said that its monitoring software, which analyzes a wide range of status information collected from all the banks’ systems, will simplify service management and improve PostFinance’s ATM network availability.

PostFinance head of operations Peter Lacher said: “With the introduction of a new generation of self-service systems from Diebold Nixdorf, we are creating conditions that enable our customers to withdraw cash conveniently at Postomats in the future, including contactless withdrawals or those made with smartphones.”

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Diebold Nixdorf managing director for Europe, Middle East and Africa Christian Weisser said: “As the industry leader in contactless transactions, our comprehensive solutions are enabling PostFinance to bridge the physical and digital worlds of cash and provide truly connected commerce to its consumers.”