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[Changes in 5 decades of ATM operation]

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Simple machines like ATMs give us money. Do you know where and how it started? What caused so many changes in the banking sector? ATMs originated in the UK. But some facts suggest that it first started in the United States in 1969. But two years earlier, the machine had been installed in London.
In 1967, an ATM was set up at a Barclays Bank branch in London. Since the inception of the ATM, there have been many changes in the machine, what are those changes? Let’s discuss here.
ATMs at Barclays Bank in London were called de la Rue automatic cash systems or DAX. This ATM was built by the team of John Shepherd Barron. In this, a paper check had to be inserted for the transaction. This paper was given by the cashier of the bank. The paper was marked carbon 14 so that the machine could read it. The symbol also had paper security, which was later converted to a six-digit PIN number. These were the ATMs started in London.
Card launch – After using ATMs in London, Speech and Midland Bank built a machine. This machine used tokens and cards instead of vouchers. A magnetic stripe was used on the back of this card. The card also uses magnetism to prevent exposure to carbon 14.
The beginning of the code-keeping system – in 1965, the idea of ​​putting a PIN on the card was being considered. It was also used. After that, the card became popular in the 1970s, but on September 2, 1969, the modern card was first used in the United States.
The New York machine is considered to be the first modern ATM. The feature of this card was that when a customer put a card with a special code in the ATM machine, only a certain amount came out of it at a time. It is said that the development of this machine was not an easy task, it took hard work and research.
Microprocessor-based machines In the 70’s, machines based on microprocessors began to be built. Then became the hardware security module. This module became known as Atala Box. It was a security system that contained coded PINs and ATM messages.
In this machine, after the customer enters the code, the code is converted and delivered to the cashier. From this the machine also knows the customer’s account number, the same process works in modern ATMs. Efforts to coordinate with ATMs began in 1979.
In 2012, the Royal Bank of Scotland introduced an arrangement whereby customers could withdraw money using 6 digits without using their card. Everest Bank was the first ATM in Nepal to be launched. The bank first opened an ATM at Tribhuvan Airport in 2005.
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