15-11-2012, 05:47 PM
How Do ATMs Work?
[attachment=39689]
History …
A mechanical cash dispenser, arguably an ATM, was developed and built by Luther George Simjian and installed 1939 in New York by the City Bank of New York, but removed after 6 months due to the lack of customer acceptance.
Thereafter, the history of ATMs paused for over 25 years, until De La Rue developed the first electronic ATM, which was installed first in Enfield Town in North London on June 27, 1967 by Barclays Bank. This instance of the invention is credited to John Shepherd-Barron, although Luther George Simjian registered patents in New York, USA in the 1930s and Donald Wetzel and two other engineers from Docutel registered a patent on June 4, 1973. Shepherd-Barron was awarded an OBE in the 2005 New Year's Honours List
Financial network and ATM
- Logical connection : interbank networks
( PLUS, Cirrus, South Africa’s SASWITCH, Hong
Kong’s JETCO, Philippines’ Expressnt …)
- Physical connection :
- dial-up modem over telephone line
- leased line
Alternative Uses
- Deposit currency recognition, acceptance, recycling
- Updating passbooks
- Loading monetary value into prepaid card
- Ticket purchase
- Purchasing postal stamps
- Lottery ticket purchase
- Advertising
- …
New Technologies
- Biometrics
- Cheque / cash acceptation
- Barcode scanning
- On–demand printing of item value
- Display additional media such as phone card
- Co–ordination of ATMs with mobile phone
- Customer – specific advertising
[attachment=39689]
History …
A mechanical cash dispenser, arguably an ATM, was developed and built by Luther George Simjian and installed 1939 in New York by the City Bank of New York, but removed after 6 months due to the lack of customer acceptance.
Thereafter, the history of ATMs paused for over 25 years, until De La Rue developed the first electronic ATM, which was installed first in Enfield Town in North London on June 27, 1967 by Barclays Bank. This instance of the invention is credited to John Shepherd-Barron, although Luther George Simjian registered patents in New York, USA in the 1930s and Donald Wetzel and two other engineers from Docutel registered a patent on June 4, 1973. Shepherd-Barron was awarded an OBE in the 2005 New Year's Honours List
Financial network and ATM
- Logical connection : interbank networks
( PLUS, Cirrus, South Africa’s SASWITCH, Hong
Kong’s JETCO, Philippines’ Expressnt …)
- Physical connection :
- dial-up modem over telephone line
- leased line
Alternative Uses
- Deposit currency recognition, acceptance, recycling
- Updating passbooks
- Loading monetary value into prepaid card
- Ticket purchase
- Purchasing postal stamps
- Lottery ticket purchase
- Advertising
- …
New Technologies
- Biometrics
- Cheque / cash acceptation
- Barcode scanning
- On–demand printing of item value
- Display additional media such as phone card
- Co–ordination of ATMs with mobile phone
- Customer – specific advertising