Automated teller machine
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An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff.
ATMs are known by a variety of names, including automatic teller machines (ATM) in the United States
Using an ATM, customers can access their
According to the
History
The idea of out-of-hours cash distribution was first put into practice in Japan, the United Kingdom and Sweden.[14][15]
In 1960, Luther Simjian invented an automated deposit machine (accepting coins, cash and cheques) although it did not have cash dispensing features.[16] His US patent was first filed on 30 June 1960 and granted on 26 February 1963.[17] The roll-out of this machine, called Bankograph, was delayed by a couple of years, due in part to Simjian's Reflectone Electronics Inc. being acquired by Universal Match Corporation.[18] An experimental Bankograph was installed in New York City in 1961 by the City Bank of New York, but removed after six months due to the lack of customer acceptance.[19]
In 1962 Adrian Ashfield invented the idea of a card system to securely identify a user and control and monitor the dispensing of goods or services. This was granted UK Patent 959,713 in June 1964 and assigned to Kins Developments Limited.[20]
Invention
A Japanese device called the "Computer Loan Machine" supplied cash as a three-month loan at 5% p.a. after inserting a credit card. The device was operational in 1966.[21][22] However, little is known about the device.[14]
A cash machine was put into use by Barclays Bank, Enfield, in the United Kingdom, on 27 June 1967, which is recognized as the world's first ATM.[23][24][25] This machine was inaugurated by English actor Reg Varney.[26] This invention is credited to the engineering team led by John Shepherd-Barron of printing firm De La Rue,[27] who was awarded an OBE in the 2005 New Year Honours.[28][29] Transactions were initiated by inserting paper cheques issued by a teller or cashier, marked with carbon-14 for machine readability and security, which in a later model were matched with a four-digit personal identification number (PIN).[27][30] Shepherd-Barron stated "It struck me there must be a way I could get my own money, anywhere in the world or the UK. I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash."[27]
The Barclays–De La Rue machine (called De La Rue Automatic Cash System or DACS)
Both the DACS and MD2 accepted only a single-use token or voucher which was retained by the machine, while the Speytec worked with a card with a magnetic stripe at the back. They used principles including Carbon-14 and low-coercivity magnetism in order to make fraud more difficult.
The idea of a
Propagation
Devices designed by British (i.e. Chubb, De La Rue) and Swedish (i.e. Asea Meteor) manufacturers quickly spread out. For example, given its link with Barclays, Bank of Scotland deployed a DACS in 1968 under the 'Scotcash' brand.[36] Customers were given personal code numbers to activate the machines, similar to the modern PIN. They were also supplied with £10 vouchers. These were fed into the machine, and the corresponding amount debited from the customer's account.
A Chubb-made ATM appeared in Sydney in 1969. This was the first ATM installed in Australia. The machine only dispensed $25 at a time and the bank card itself would be mailed to the user after the bank had processed the withdrawal.
Asea Metior's Bancomat was the first ATM installed in Spain on 9 January 1969, in central Madrid by Banesto. This device dispensed 1,000 peseta bills (1 to 5 max). Each user had to introduce a security personal key using a combination of the ten numeric buttons.[37] In March of the same year an ad with the instructions to use the Bancomat was published in the same newspaper.[38]
In
Docutel in the United States
After looking firsthand at the experiences in Europe, in 1968 the ATM was pioneered in the U.S. by Donald Wetzel, who was a department head at a company called Docutel.[29] Docutel was a subsidiary of Recognition Equipment Inc of Dallas, Texas, which was producing optical scanning equipment and had instructed Docutel to explore automated baggage handling and automated gasoline pumps.[41]
On 2 September 1969,
By 1974, Docutel had acquired 70 percent of the U.S. market; but as a result of the early 1970s worldwide recession and its reliance on a single product line, Docutel lost its independence and was forced to merge with the U.S. subsidiary of Olivetti.[46]
In 1973, Wetzel was granted U.S. Patent # 3,761,682 Archived 5 September 2017 at the Wayback Machine; the application had been filed in October 1971. However, the U.S. patent record cites at least three previous applications from Docutel, all relevant to the development of the ATM and where Wetzel does not figure, namely US Patent # 3,662,343 Archived 5 September 2017 at the Wayback Machine, U.S. Patent # 3651976 Archived 5 September 2017 at the Wayback Machine and U.S. Patent # 3,68,569 Archived 5 September 2017 at the Wayback Machine. These patents are all credited to Kenneth S. Goldstein, MR Karecki, TR Barnes, GR Chastian and John D. White.
Further advances
In April 1971,
He founded
The IBM 2984 was a modern ATM and came into use at Lloyds Bank, High Street, Brentwood, Essex, the UK in December 1972. The IBM 2984 was designed at the request of
and TABS 9000 series, NCR 1780 and earlier NCR 770 series.The first switching system to enable shared automated teller machines between banks went into production operation on 3 February 1979, in Denver, Colorado, in an effort by Colorado National Bank of Denver and Kranzley and Company of Cherry Hill, New Jersey.[56]
In 2012, a new ATM at Royal Bank of Scotland allowed customers to withdraw cash up to £130 without a card by inputting a six-digit code requested through their smartphones.[57]
Location
ATMs can be placed at any location but are most often placed near or inside
ATMs may be on- and off-premises. On-premises ATMs are typically more advanced, multi-function machines that complement a bank branch's capabilities, and are thus more expensive. Off-premises machines are deployed by financial institutions where there is a simple need for cash, so they are generally cheaper single-function devices.
In the US, Canada and some
In recent times, countries like India and some countries in Africa are installing solar-powered ATMs in rural areas.[61]
The world's highest ATM is located at the Khunjerab Pass in Pakistan. Installed at an elevation of 4,693 metres (15,397 ft) by the National Bank of Pakistan, it is designed to work in temperatures as low as -40-degree Celsius.[62]
Financial networks
This section needs additional citations for verification. (June 2018) |
Most ATMs are connected to
.ATMs rely on the authorization of a financial transaction by the card issuer or other authorizing institution on a communications network. This is often performed through an ISO 8583 messaging system.
Many banks charge ATM usage fees. In some cases, these fees are charged solely to users who are not customers of the bank that operates the ATM; in other cases, they apply to all users.
In order to allow a more diverse range of devices to attach to their networks, some interbank networks have passed rules expanding the definition of an ATM to be a terminal that either has the vault within its footprint or utilises the vault or cash drawer within the merchant establishment, which allows for the use of a
ATMs typically connect directly to their host or
In addition to methods employed for transaction security and secrecy, all communications traffic between the ATM and the Transaction Processor may also be encrypted using methods such as
Global use
There are no hard international or government-compiled numbers totaling the complete number of ATMs in use worldwide. Estimates as of 2015[update] developed by
To simplify the analysis of ATM usage around the world, financial institutions generally divide the world into seven regions, based on the penetration rates, usage statistics, and features deployed. Four regions (USA, Canada, Europe, and Japan) have high numbers of ATMs per million people.[67][68] Despite the large number of ATMs, there is additional demand for machines in the Asia/Pacific area as well as in Latin America.[69][70] Macau may have the highest density of ATMs at 254 ATMs per 100,000 adults.[71]
With the uptake of cashless payment solutions in the late 2010s, ATM numbers and usage started to decline. This happened first in developed countries at a time when ATM number were still increasing in Asia and Africa. As of 2021[update], there had been a global decline in the number of ATMs in use, with the average dropping to 39 per 100,000 adults from a peak of 41 per 100,000 adults in 2020.[13][72]
Hardware
An ATM is typically made up of the following devices:
- CPU(to control the user interface and transaction devices)
- chip cardreader (to identify the customer)
- a touch tone or calculatorkeypad), manufactured as part of a secure enclosure
- Secure cryptoprocessor, generally within a secure enclosure
- Display (used by the customer for performing the transaction)
- Function key buttons (usually close to the display) or a touchscreen (used to select the various aspects of the transaction)
- Record printer (to provide the customer with a record of the transaction)
- Vault (to store the parts of the machinery requiring restricted access)
- Housing (for aesthetics and to attach signage to)
- Sensors and indicators
Due to heavier computing demands and the falling price of personal computer–like architectures, ATMs have moved away from custom hardware architectures using microcontrollers or application-specific integrated circuits and have adopted the hardware architecture of a personal computer, such as USB connections for peripherals, Ethernet and IP communications, and use personal computer operating systems.
Business owners often lease ATMs from service providers. However, based on the economies of scale, the price of equipment has dropped to the point where many business owners are simply paying for ATMs using a credit card.
New ADA voice and text-to-speech guidelines imposed in 2010, but required by March 2012[73] have forced many ATM owners to either upgrade non-compliant machines or dispose them if they are not upgradable, and purchase new compliant equipment. This has created an avenue for hackers and thieves to obtain ATM hardware at junkyards from improperly disposed decommissioned machines.[74]
The vault of an ATM is within the footprint of the device itself and is where items of value are kept. Scrip cash dispensers, which print a receipt or scrip instead of cash, do not incorporate a vault.
Mechanisms found inside the vault may include:
- Dispensing mechanism (to provide cash or other items of value)
- Deposit mechanism including a cheque processing module and bulk note acceptor (to allow the customer to make deposits)
- Security sensors (magnetic, thermal, seismic, gas)
- Locks (to control access to the contents of the vault)
- Journaling systems; many are electronic (a sealed flash memory device based on in-house standards) or a solid-state device (an actual printer) which accrues all records of activity including access timestamps, number of notes dispensed, etc. This is considered sensitive data and is secured in similar fashion to the cash as it is a similar liability.
ATM vaults are supplied by manufacturers in several grades. Factors influencing vault grade selection include cost, weight, regulatory requirements, ATM type, operator risk avoidance practices and internal volume requirements.
ATM manufacturers recommend that a vault be attached to the floor to prevent theft,[80] though there is a record of a theft conducted by tunnelling into an ATM floor.[81]
Software
With the migration to commodity Personal Computer hardware, standard commercial "off-the-shelf" operating systems and programming environments can be used inside of ATMs. Typical platforms previously used in ATM development include RMX or OS/2.
Today, the vast majority of ATMs worldwide use
.There is a computer industry security view that general public desktop operating systems have greater risks as operating systems for cash dispensing machines than other types of operating systems like (secure) real-time operating systems (RTOS). RISKS Digest has many articles about ATM operating system vulnerabilities.[83]
Linux is also finding some reception in the ATM marketplace. An example of this is Banrisul, the largest bank in the south of Brazil, which has replaced the MS-DOS operating systems in its ATMs with Linux. Banco do Brasil is also migrating ATMs to Linux. Indian-based Vortex Engineering is manufacturing ATMs that operate only with Linux. Common application layer transaction protocols, such as
With the move to a more standardised software base, financial institutions have been increasingly interested in the ability to pick and choose the application programs that drive their equipment.
While the perceived benefit of XFS is similar to the Java's "write once, run anywhere" mantra, often different ATM hardware vendors have different interpretations of the XFS standard. The result of these differences in interpretation means that ATM applications typically use a middleware to even out the differences among various platforms.
With the onset of Windows operating systems and XFS on ATMs, the software applications have the ability to become more intelligent. This has created a new breed of ATM applications commonly referred to as programmable applications. These types of applications allows for an entirely new host of applications in which the ATM terminal can do more than only communicate with the ATM switch. It is now empowered to connected to other content servers and video banking systems.
Notable ATM software that operates on XFS platforms include Triton PRISM,
With the move of ATMs to industry-standard computing environments, concern has risen about the integrity of the ATM's software stack.[85]
Impact on labor
The number of tellers in the United States increased from approximately 300,000 in 1970 to approximately 600,000 in 2010. A contributing factor may have been the introduction of automated teller machines. ATMs allow a branch to operate with fewer tellers, making it more economical for banks to open more branches, necessitating more tellers to staff those additional branches. Further automation and online banking, however, may reverse this increase resulting in a trend toward fewer bank teller positions. [3][86]
Security
Security, as it relates to ATMs, has several dimensions. ATMs also provide a practical demonstration of a number of security systems and concepts operating together and how various security concerns are addressed.
Physical
Early ATM security focused on making the terminals invulnerable to physical attack; they were effectively safes with dispenser mechanisms. A number of attacks resulted, with thieves attempting to steal entire machines by ram-raiding.[87] Since the late 1990s, criminal groups operating in Japan improved ram-raiding by stealing and using a truck loaded with heavy construction machinery to effectively demolish or uproot an entire ATM and any housing to steal its cash.
Another attack method, plofkraak, is to seal all openings of the ATM with silicone and fill the vault with a combustible gas or to place an explosive inside, attached, or near the machine. This gas or explosive is ignited and the vault is opened or distorted by the force of the resulting explosion and the criminals can break in.[88] This type of theft has occurred in the Netherlands, Belgium, France, Denmark, Germany, Australia,[89][90] and the United Kingdom.[91] These types of attacks can be prevented by a number of gas explosion prevention devices also known as gas suppression system. These systems use explosive gas detection sensor to detect explosive gas and to neutralise it by releasing a special explosion suppression chemical which changes the composition of the explosive gas and renders it ineffective.
Several attacks in the UK (at least one of which was successful) have involved digging a concealed tunnel under the ATM and cutting through the reinforced base to remove the money.[81]
Modern ATM physical security, per other modern money-handling security, concentrates on denying the use of the money inside the machine to a thief, by using different types of Intelligent Banknote Neutralisation Systems.
A common method is to simply rob the staff filling the machine with money. To avoid this, the schedule for filling them is kept secret, varying and random. The money is often kept in cassettes, which will dye the money if incorrectly opened.
Transactional secrecy and integrity
The security of ATM transactions relies mostly on the integrity of the secure
Encryption of personal information, required by law in many jurisdictions, is used to prevent fraud. Sensitive data in ATM transactions are usually
Customer identity integrity
There have also been a number of incidents of fraud by man-in-the-middle attacks, where criminals have attached fake keypads or card readers to existing machines. These have then been used to record customers' PINs and bank card information in order to gain unauthorised access to their accounts. Various ATM manufacturers have put in place countermeasures to protect the equipment they manufacture from these threats.[93][94]
Alternative methods to verify cardholder identities have been tested and deployed in some countries, such as finger and palm vein patterns,
Device operation integrity
Openings on the customer side of ATMs are often covered by mechanical shutters to prevent tampering with the mechanisms when they are not in use. Alarm sensors are placed inside ATMs and their servicing areas to alert their operators when doors have been opened by unauthorised personnel.
To protect against hackers, ATMs have a built-in firewall. Once the firewall has detected malicious attempts to break into the machine remotely, the firewall locks down the machine.
Rules are usually set by the government or ATM operating body that dictate what happens when integrity systems fail. Depending on the jurisdiction, a bank may or may not be liable when an attempt is made to dispense a customer's money from an ATM and the money either gets outside of the ATM's vault, or was exposed in a non-secure fashion, or they are unable to determine the state of the money after a failed transaction.[97] Customers often commented that it is difficult to recover money lost in this way, but this is often complicated by the policies regarding suspicious activities typical of the criminal element.[98]
Customer security
In some countries, multiple
Consultants of ATM operators assert that the issue of customer security should have more focus by the banking industry;[101] it has been suggested that efforts are now more concentrated on the preventive measure of deterrent legislation than on the problem of ongoing forced withdrawals.[102]
At least as far back as 30 July 1986, consultants of the industry have advised for the adoption of an emergency PIN system for ATMs, where the user is able to send a
In 1998, three towns outside Cleveland, Ohio, in response to an ATM crime wave, adopted legislation requiring that an emergency telephone number switch be installed at all outdoor ATMs within their jurisdiction. In the wake of a homicide in Sharon Hill, Pennsylvania, the city council passed an ATM security bill as well.
In China and elsewhere, many efforts to promote security have been made. On-premises ATMs are often located inside the bank's lobby, which may be accessible 24 hours a day. These lobbies have extensive security camera coverage, a courtesy telephone for consulting with the bank staff, and a security guard on the premises. Bank lobbies that are not guarded 24 hours a day may also have secure doors that can only be opened from outside by swiping the bank card against a wall-mounted scanner, allowing the bank to identify which card enters the building. Most ATMs will also display on-screen safety warnings and may also be fitted with convex mirrors above the display allowing the user to see what is happening behind them.
As of 2013, the only claim available about the extent of ATM-connected homicides is that they range from 500 to 1,000 per year in the US, covering only cases where the victim had an ATM card and the card was used by the killer after the known time of death.[110]
Jackpotting
The term jackpotting is used to describe one method criminals utilize to steal money from an ATM. The thieves gain physical access through a small hole drilled in the machine. They disconnect the existing hard drive and connect an external drive using an industrial endoscope. They then depress an internal button that reboots the device so that it is now under the control of the external drive. They can then have the ATM dispense all of its cash.[111]
Encryption
In recent years, many ATMs also encrypt the hard disk. This means that actually creating the software for
Uses
ATMs were originally developed as cash dispensers, and have evolved to provide many other bank-related functions:
- Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, income taxes, etc.)
- Printing or ordering bank statements
- Updating passbooks
- Cash advances
- Cheque Processing Module
- Paying (in full or partially) the credit balance on a card linked to a specific current account.
- Transferring money between linked accounts (such as transferring between accounts)
- Deposit currency recognition, acceptance, and recycling[112]
In some countries, especially those which benefit from a fully integrated cross-bank network (e.g.: Multibanco in Portugal), ATMs include many functions that are not directly related to the management of one's own bank account, such as:
- Loading monetary value into stored-value cards
- Adding pre-paid cell phone / mobile phonecredit.
- Purchasing
- Concert tickets
- Gold[113]
- Lottery tickets
- Movie tickets
- Postage stamps.
- Train tickets
- gift certificates.
- Donating to charities[114]
Increasingly, banks are seeking to use the ATM as a sales device to deliver pre approved loans and targeted advertising using products such as ITM (the Intelligent Teller Machine) from Aptra Relate from NCR.[115] ATMs can also act as an advertising channel for other companies.[116]*
However, several different ATM technologies have not yet reached worldwide acceptance, such as:
- Videoconferencing with human tellers, known as video tellers[117]
- Biometrics, where authorization of transactions is based on the scanning of a customer's fingerprint, iris, face, etc.[118][119][120]
- Cheque/cash Acceptance, where the machine accepts and recognises cheques and/or currency without using envelopesCheck 21legislation.
- Bar code scanning[122]
- On-demand printing of "items of value" (such as movie tickets, traveler's cheques, etc.)
- Dispensing additional media (such as phone cards)
- Co-ordination of ATMs with mobile phones[123]
- Integration with non-banking equipment[124][125]
- Games and promotional features[126]
- CRM through the ATM
Videoconferencing teller machines are currently referred to as Interactive Teller Machines. Benton Smith writes in the Idaho Business Review, "The software that allows interactive teller machines to function was created by a Salt Lake City-based company called uGenius, a producer of video banking software. NCR, a leading manufacturer of ATMs, acquired uGenius in 2013 and married its own ATM hardware with uGenius' video software."[127]
- Pharmacy dispensing units[128]
Reliability
Before an ATM is placed in a public place, it typically has undergone extensive testing with both
ATMs and the supporting electronic financial networks are generally very reliable, with industry benchmarks typically producing 98.25% customer availability for ATMs[131] and up to 99.999% availability for host systems that manage the networks of ATMs. If ATM networks do go out of service, customers could be left without the ability to make transactions until the beginning of their bank's next time of opening hours.
This said, not all errors are to the detriment of customers; there have been cases of machines giving out money without debiting the account, or giving out higher value notes as a result of incorrect denomination of banknote being loaded in the money cassettes.[132] The result of receiving too much money may be influenced by the card holder agreement in place between the customer and the bank.[133][134]
Errors that can occur may be
To aid in reliability, some ATMs print each transaction to a roll-paper journal that is stored inside the ATM, which allows its users and the related financial institutions to settle things based on the records in the journal in case there is a dispute. In some cases, transactions are posted to an electronic journal to remove the cost of supplying journal paper to the ATM and for more convenient searching of data.
Improper money checking can cause the possibility of a customer receiving counterfeit banknotes from an ATM. While bank personnel are generally trained better at spotting and removing counterfeit cash,[135][136] the resulting ATM money supplies used by banks provide no guarantee for proper banknotes, as the Federal Criminal Police Office of Germany has confirmed that there are regularly incidents of false banknotes having been dispensed through ATMs.[137] Some ATMs may be stocked and wholly owned by outside companies, which can further complicate this problem.
In India, whenever a transaction fails with an ATM due to network or technical issues and if the amount does not get dispensed in spite of the account being debited then the banks are supposed to return the debited amount to the customer within seven working days from the day of receipt of a complaint. Banks are also liable to pay the late fees in case of delay in repayment of funds post seven days.[139]
Fraud
As with any device containing objects of value, ATMs and the systems they depend on to function are the targets of fraud. Fraud against ATMs and people's attempts to use them takes several forms.
The first known instance of a fake ATM was installed at a shopping mall in Manchester, Connecticut, in 1993. By modifying the inner workings of a Fujitsu model 7020 ATM, a criminal gang known as the Bucklands Boys stole information from cards inserted into the machine by customers.[140]
WAVY-TV reported an incident in Virginia Beach in September 2006 where a hacker, who had probably obtained a factory-default administrator password for a filling station's white-label ATM, caused the unit to assume it was loaded with US$5 bills instead of $20s, enabling himself—and many subsequent customers—to walk away with four times the money withdrawn from their accounts.[141] This type of scam was featured on the TV series The Real Hustle.
ATM behaviour can change during what is called "stand-in" time, where the bank's cash dispensing network is unable to access databases that contain account information (possibly for database maintenance). In order to give customers access to cash, customers may be allowed to withdraw cash up to a certain amount that may be less than their usual daily withdrawal limit, but may still exceed the amount of available money in their accounts, which could result in fraud if the customers intentionally withdraw more money than they had in their accounts.[142]
Card fraud
In an attempt to prevent criminals from shoulder surfing the customer's personal identification number (PIN), some banks draw privacy areas on the floor.
For a low-tech form of fraud, the easiest is to simply steal a customer's card along with its PIN. A later variant of this approach is to trap the card inside of the ATM's card reader with a device often referred to as a Lebanese loop. When the customer gets frustrated by not getting the card back and walks away from the machine, the criminal is able to remove the card and withdraw cash from the customer's account, using the card and its PIN.
This type of fraud has spread globally. Although somewhat replaced in terms of volume by skimming incidents, a re-emergence of card trapping has been noticed in regions such as Europe, where EMV chip and PIN cards have increased in circulation.[143]
Another simple form of fraud involves attempting to get the customer's bank to issue a new card and its PIN and stealing them from their mail.[144]
By contrast, a newer high-tech method of operating, sometimes called card skimming or card cloning, involves the installation of a magnetic card reader over the real ATM's card slot and the use of a wireless surveillance camera or a modified digital camera or a false PIN keypad to observe the user's PIN. Card data is then cloned into a duplicate card and the criminal attempts a standard cash withdrawal. The availability of low-cost commodity wireless cameras, keypads, card readers, and card writers has made it a relatively simple form of fraud, with comparatively low risk to the fraudsters.[145]
In an attempt to stop these practices, countermeasures against card cloning have been developed by the banking industry, in particular by the use of
Card cloning and
The concept and various methods of copying the contents of an ATM card's magnetic stripe onto a duplicate card to access other people's financial information were well known in the hacking communities by late 1990.[148]
In 1996, Andrew Stone, a computer security consultant from Hampshire in the UK, was convicted of stealing more than £1 million by pointing high-definition video cameras at ATMs from a considerable distance and recording the card numbers, expiry dates, etc. from the embossed detail on the ATM cards along with video footage of the PINs being entered. After getting all the information from the videotapes, he was able to produce clone cards which not only allowed him to withdraw the full daily limit for each account, but also allowed him to sidestep withdrawal limits by using multiple copied cards. In court, it was shown that he could withdraw as much as £10,000 per hour by using this method. Stone was sentenced to five years and six months in prison.[149]
Related devices
A
A postal interactive kiosk may share many components of an ATM (including a vault), but it only dispenses items related to postage.[151][152]
A scrip cash dispenser or cashless ATM may have many components in common with an ATM, but it lacks the ability to dispense physical cash and consequently requires no vault. Instead, the customer requests a withdrawal transaction from the machine, which prints a receipt or scrip. The customer then takes this receipt to a nearby sales clerk, who then exchanges it for cash from the till.[153]
A teller assist unit (TAU) is distinct in that it is designed to be operated solely by trained personnel and not by the general public, does integrate directly into interbank networks, and usually is controlled by a computer that is not directly integrated into the overall construction of the unit.
A Web ATM is an online interface for ATM card banking that uses a smart card reader. All the usual ATM functions are available, except for withdrawing cash. Most banks in Taiwan provide these online services.[154][155]
See also
- ATM Industry Association (ATMIA)
- Automated cash handling
- Banknote counter
- Bitcoin ATM
- Cash register
- EFTPOS
- Electronic funds transfer
- Financial cryptography
- Key management
- Payroll
- Phantom withdrawal
- RAS syndrome
- Self service
- Teller system
- Verification and validation
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Further reading
- Ali, Peter Ifeanyichukwu. "Impact of automated teller machine on banking services delivery in Nigeria: a stakeholder analysis." Brazilian Journal of Education, Technology and Society 9.1 (2016): 64–72. online
- Bátiz-Lazo, Bernardo. Cash and Dash: How ATMs and Computers Changed Banking (Oxford University Press, 2018). online review
- Batiz-Lazo, Bernardo. "Emergence and evolution of ATM networks in the UK, 1967–2000." Business History 51.1 (2009): 1-27. online[permanent dead link]
- Batiz-Lazo, Bernardo, and Gustavo del Angel. The Dawn of the Plastic Jungle: The Introduction of the Credit Card in Europe and North America, 1950-1975 (Hoover Institution, 2016), abstract
- Bessen, J. Learning by Doing: The Real Connection between Innovation, Wages, and Wealth (Yale UP, 2015)
- Hota, Jyotiranjan, Saboohi Nasim, and Sasmita Mishra. "Drivers and Barriers to Adoption of Multivendor ATM Technology in India: Synthesis of Three Empirical Studies." Journal of Technology Management for Growing Economies 9.1 (2018): 89–102. online
- McDysan, David E., and Darren L. Spohn. ATM theory and applications (McGraw-Hill Professional, 1998).
- Mkpojiogu, Emmanuel OC, and A. Asuquo. "The user experience of ATM users in Nigeria: a systematic review of empirical papers." Journal of Research in National Development (2018). online Archived 18 May 2020 at the Wayback Machine
Primary sources
External links
- The Money Machines: an account of US cash machine history; by Ellen Florian, Fortune.com
- Automated teller machine at Curlie
- World Map and Chart of Automated Teller Machines per 100,000 Adults by Lebanese-economy-forum, World Bank data