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    Inventor of ATM is No More

    Posted In World - By NitiN Kumar Jain On Friday, May 21st, 2010 With 0 Comments
      



    John Shepherd-Barron, inventor of ATM (Automated Teller Machine) has died after a short illness at the age of 84.ATM world  Inventor of ATM is No More

    An Automated Teller Machine as is explained by wikipedia is:

    a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller. On most modern ATMs, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip, that contains a unique card number and some security information such as an expiration date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN).

    shepherd barron atm world  Inventor of ATM is No More The first cash dispensing machine was installed at Barclays Enfield branch in London June 27, 1967.

    The businessman, who worked for a printing firm at the time, came up with the concept of a self-service cash dispenser in 1965 while lying in the bath after getting to his bank too late to withdraw money.

    “It struck me that there must be a way I could get my own money, anywhere in the world or the United Kingdom. I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash,” he had said in a 2007 interview.

    Reg Varney, a star that time, became the first person to withdraw cash from ATM.

     world  Inventor of ATM is No More

    NitiN Kumar Jain

    Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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