History of ATMs
ATMs were first called automated teller machines. John Shepherd Barron installed the first cash machine in London in 1967 inspired by chocolate bar vending machines.
Key Developments in ATMs
ATMs provide banking services without bank employees with advantages of accessibility and convenience. More complex ATMs accept deposits, payments, transfers, and provide account information often requiring an account at the ATM’s bank.
Global Impact of ATMs
In 1902, Citibank India opened with over 700 ATMs in 31 cities. America’s first ATM opened on September 2, 1969 in New York, dispensing cash with John Shepherd Barron, Donald Wetzel, and Do Duc Cuong as ATM inventors. Connectivity helps ATMs transmit data and support advertising. Without reliable connectivity, ATMs won’t operate effectively for service and proper functioning. Cash is still widely used, so ATMs will likely continue evolving potentially to Automated Thinking Machines, available anywhere.