Wincor Nixdorf and Aisino establish joint venture to co-market IT solutions for banks and retailers in China
Aisino Corporation, a Chinese company that specializes in intelligent anti-forgery tax control systems, EFT POS solutions, financial IC cards, bill receipt printing solutions and public IT security solutions, has established a joint venture (JV) with Wincor Nixdorf in China to develop, produce and market IT solutions for banking and retail companies in China. The JV is strategically positioned to primarily tap the sizeable banking business in the country by offering solutions that meet Chinese banking regulations. Aisino, which currently employs more than 20,000 people in China and earns annual revenues of USD 3.2 billion, holds a majority interest of 51 percent in the joint venture.
Operating under the name Aisino Wincor, the JV will offer banks and retailers an extensive range of hardware, software and services. The JV’s comprehensive portfolio comprises POS systems and self-checkout solutions for the retail segment as well as self-service solutions for the banking segment. Banking solutions include ATMs, cash recycling systems and the software necessary to operate the systems. The JV’s portfolio will also extend to offering the banking segment end-to-end services that help customers manage their self-service networks. These professional and managed services range from deployment and project management to life-cycle maintenance.
“Thanks to the partnership with Aisino, we will improve our position in this strategically important market. We will also be able to help Chinese banks and retailers to become more efficient and profitable by offering them innovative solutions,” said Eckard Heidloff, President and Chief Executive Officer of Wincor Nixdorf.
“We look forward to a successful future with Wincor Nixdorf, an internationally recognized leading provider of IT solutions for both the banking and retail industries," stated Mr. Shi Yang, CEO of the Aisino Group.
The joint venture will commence operations after relevant approval granted by the authority and is headquartered in Shanghai.