The invention of ATM (Automated Teller Machine) is amongst the most important inventions ever made.
In the present world, ATMs steered the banking into a new concept of self-service. According to the ATM Industry Association (ATMIA), there are now over 2.2 million ATM machines installed worldwide.
Using ATM, customers make a variety of transactions such as cash withdrawals, check balances, or credit mobile phones. Many experts believe that the first ATM was the creation of Luther Simjian, called Bankograph.
In 1967, John Shepherd-Barron came up with a bright idea of money vending machine, which was implemented a London bank called Barclays. Earlier machines used paper vouchers instead of plastic cards.
The customer entered an identification code and can draw a maximum of £10 at a time. Dallas Engineer Donald Wetzel devised the first automated banking machine in the U.S.