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PREMIER
PREMIER
UNIVERCITY
UNIVERCITY
INTRODUCTION OF ATM
INTRODUCTION OF ATM
An ATM (automatic or automated teller
An ATM (automatic or automated teller
machine) is a computerized machine
machine) is a computerized machine
designed to dispense cash to bank
designed to dispense cash to bank
customers without need of human
customers without need of human
interaction. The ATM can also take
interaction. The ATM can also take
deposits, transfer money between bank
deposits, transfer money between bank
accounts and provide other basic financial
accounts and provide other basic financial
services.
services.
HISTORY
HISTORY
\ue000The first mechanical cash dispense was
The first mechanical cash dispense was
developed and built by Luther george simjian and
developed and built by Luther george simjian and
installed in 1939 in New York, city bank of
installed in 1939 in New York, city bank of
NewYork.
NewYork.
\ue000Thereafter the history of ATMs for ever 25 years,
Thereafter the history of ATMs for ever 25 years,
De La Rue developed the first electronic ATM,
De La Rue developed the first electronic ATM,
which was installed first in Enfield Town in North
which was installed first in Enfield Town in North
London, United Kingdom on 27 June 1967 by
London, United Kingdom on 27 June 1967 by
Barclays Bank.
Barclays Bank.
\ue000The idea of a PIN stored on the card was
The idea of a PIN stored on the card was
developed by the British engineer James
developed by the British engineer James
Goodfellow in 1965. British actor Reg Varney
Goodfellow in 1965. British actor Reg Varney
using the world\u2019s ATM in 1967. The system was
using the world\u2019s ATM in 1967. The system was
developed by Da La Rue.
developed by Da La Rue.
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