Tuesday May 24, 2022

How ATMs were first created

Automated Teller Machines (ATMs) have played a significant role in the development of computer technology. They were the first potting facility to be served by laymen, at a time when people had no practical experience of using personal sweats.

ATMs were thus the first commercial facility to use encryption systems and were one of the first services that clients could use regardless of the bank’s one-hour hours. Therefore, the very first ATMs were included in the list of the 100 most important inventions of the 20th century.

The emergence of ATMs made it possible to invent wolves in the Second World wolves to break the Neptide ifers and the development of bomb atoms. In the 1950s, IBM, Hewlett-Packard, and Bull acquired computers for commercial use. Economic development in Europe and the United States after World War II widened the life of the population. The current bag thus increased the number of leading households and thus the operating costs of banks. The financial institutions therefore invested in the automation of banking operations, introduced central accounting systems, lines for automated processing, and therefore the introduction of ATMs was a logical continuation of this trend.

In 2002, there were more than 900,000 ATMs in the world, of which almost 780,000 were involved in the international payment systems MasterCard and VISA. Without these devices, banks and their clients cannot imagine their lives. Amerian and Anglian were responsible for their invention.

Decided 82 seconds

British banks claim that the idea of ​​в za ‹в konstrukce‹ construction zazen to pay the pension piel in 1965 Scot John Shepard Baron. Frustrating that the banks were only open between 10 a.m. and 3 p.m., and on Saturday morning, he described the pinnacle of the invention for the Smithsonian Institution in the United States. Shepard Baron worked for a British financial company. He presented the CEO of Barclays Bank with his idea of ​​a zazen that would pay his pension at any time. I handed it to me if they were giving me 90 seconds before the round. It only took 82 seconds for a colleague to mil.

The CEO immediately got excited about the ATM idea and wanted to buy one right away. But it took dark years, the necessary mechanisms and safety were not developed. The British secret service MI6 was given a security test. I bet with questions about the ampaskho box if you tried to break security when, and the other box if they could, Shepard Baron recalled. MI6 experts won both boxes of ampaskos, but confirmed that security systems could not be broken without knowledge of classified information.

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The first cash machine (cash machine, the word ATM was not used) Barclays Bank opened on June 27, 1967 under the name Barclayscash on The Town (Church Street). 20 in London’s Enfield district. This machine was made by Burroughs (now Bite de la Rue). The cash dispensers filled out one GBP 10 bill after inserting the hard card and entering the PIN. Clients used these vending machines as an emergency in cases where they did not have time to collect cash in the first hours of bank branches. Eventually, however, their use became a reimbursement for cash withdrawals at the box office.

The communication with the order at the first ATMs was handled by another tow, which displayed the operating instructions: Insert the card, Enter in the PIN, Remove the pension and Take your card. These ATMs belong to the so-called first generation and Amerian does not even hide them among ATMs at all.

Within a few years, banks in France, Vdsk and Hungary introduced the ATMs into operation. There were a number of problems with the ATM in Zurich. The main problem was that the ATM paid the pension itself. He was in the branch, which was located near the tram trolleys. He paid a pension if the tram passed us and sparks caused electromagnetic pulses. However, the problems were quickly eliminated and ATMs slowly began to enter Europe.

It is important to you that the turf was not completely safe. Fraudsters (mainly from Israel) uncovered encryption algorithms that recorded the password and PIN and began large-scale production of counterfeit ttk. Therefore, first-generation ATMs had to be quickly replaced by new technology developed at the second run of the American Bankers Association’s Atlantic Award.

American invention

Amerian is already looking for an ATM. Don Wetzel from Dallas wrote on his idea in 1967 during a queue in front of the St. Banks’ cash desk. Wetzel was Vice President of Full Product at Docutel, which was involved in the development of automatic luggage baggage at the airport. According to him, at that time it was not just about paying cash: We never considered ATM just a payoff. We wanted this process to carry out most of the operations that the treasurers put on the transfer of pensions between those, the order to the castle and the payment of cash pensions.

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At the ATM patent, Pihlenho, and in 1973, his colleague Tom Barnes, the company’s chief engineer for mechanics, George Chastain, an engineer and electronics developer, and Jack Gebhart are named after him. First, he saw the magnetic stripe later on the idea of ​​handcuffs instead of carded cards.

The first functional prototype of an ATM was put into operation in 1969 and its development of the Docutel company was almost 5 million dollars. The development was expensive because the company introduced plastic card technology with a magnetic stripe and a personal identification PIN and had to develop a number of new devices. The magnetic stripe was first used in the 1960s in the London Underground. The BART (Bay Area Rapid Transit) magnetic paper subscription system was introduced in the USA in the late 1960s. The value of the subscription was overwritten each time the card was used. At that time, the manufacturers of the first ATMs used different card and magnetic stripe technologies. It was unified by a standard of the American Bankers Association in 1972. Since the mid-1970s, only ATMs with magnetic sensors have been produced.

The magnetic strip of the card’s ATMs contained data to identify the client and the PIN was used for authentication. This created an ATM Card, which differed in magnetic stripe from the Charge Card, which was not used at the time. Masov introduced these ATM cards in 1970 to Citibank under the name CitiCard.

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Docutel technicians were able to automate the processing of information on cash withdrawals. Instead of five types of printer urns in the bank’s national system (as was the case with the first ATMs in the UK), they chose to be known in the MICR (Magnetic Ink Character Recognition) system, which has been used since the 1950s in drafting and other documents.

Anyone who was 9th from 1969 around the Chemical Bank branch at Rockville Center on Long Island in New York could see the ceremony. On that day, the first functional ATM in the USA was put into operation there (sometimes the first bank to be introduced by the City National Bank today is BankOne in Columbus, Ohio), which clients with a Master Charge card with a Docutel magnetic stripe could use.

The first ATMs were expensive, so slow, so the bag was sight to produce them at all without microelectronics. The instructions for the client did not show the screen, but with the inscriptions: Insert the card, Remove the pension. The banknotes were stored in suits of $ 25 each, which had to be completed. Suits with banknotes often got stuck.

In 1973, Docutel developed an ATM, which not only issued pensions, but thus accepted the help of suits for suits and enabled the transfer of pensions to those of the client. He called it Total Teller, but American banks did not accept the name and began to use the term Automated Teller Machine ATM for all ATMs.

Excerpts from the book
Pavla Juka: Encyclopedia of Payment Cards

1. dl: How to pay securely on the Internet?

Step 2: How did the river come about?

Step 3: How did the pensions come about?

4. dl: How banking originated

5th dl: When did the papyr pension arise?

6. dl: Pensions and echoes: when was the crown created?

7. dl: How are banknotes printed?

8. dl: Protection of banknotes against counterfeiting

9. dl: How and where the payment cards were created

10. dl: How payment cards were created-II

Debt 11: Who issued the first universal payment card

Debt 12: When did banks start issuing cards

13th dl: How MasterCard cards were created

14. dl: How the VISA cards were created

DL 15: The role of payment cards in Europe

16. dl: Payment cards in Europe and their arrests in R

DL 17: What caused the boom in payment cards

18. dl: Payment cards: magnetic stripe

19. dl: How to make cards


ryvek is from the bookEncyclopedia of payment cardsvydan nakladatelstvm City Publishing, who published publications in the FINANCE edition such as:
Make a investment, 2nd born ed
Investovn pro zatenky
Financial Mathematics Pro, 5.vydn

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