ATM / ATM (ATM = Automatic Teller Machine)
A cash machine (cash dispenser, ATM, ATM = GA or GG abbreviated) is banks, savings banks, credit institutions or on places frequented by people such as airfield, train station or shopping mall set up technical facilities for cash. ATMs allow cash withdrawals of the customer in self-service and thus rationalizes cash transactions.
Cash machines are widely called ATM (Automated Teller Machine or Automatic Teller Machine). At ATMs, after entering a credit card or bank card in conjunction with a PIN / PIN, a bank customer can withdraw cash from their assigned checking or credit card account 24/7.
After the identification of the card and the authentication via PIN, the authorization of the desired transaction takes place. A central office for authorization decides electronically on the validity of the action.
To protect against abuse, the sums to be paid by the bank of the cardholder are usually u. Week limited. The payment is limited depending on the location bank per transaction. In many countries, the vending machine operators charge fees for payment transactions. In addition to cash dispensers, there are also self-service cash machines (cash deposit machines) and terminals, the functions such as bank statement printing, bank transfer, charging the Support electronic wallet. The ATM was still in front of the PC d. first computer terminal that has managed to make itself indispensable worldwide.
Story Of The ATM
American Don Wetzel had 1965 d. The idea for a cash dispenser when he had to wait in a queue at the cash desk of a money institution. As a result, he designed a machine that automated the cash payments by inserting a card and by entering a number combination. However, it took a while before this came to practical use.
Because when this first ATM generation came on the market, it was initially used by the financial institutions zozegerlich. The reasons for this were the technical design of the devices, the inadequate security and the limited capacity of the information on the card used.
All this allowed only a limited use of the cards for the customers. An improved ATM generation was offered at the beginning of the 70s. Here standardized plastic cards were used, with the required information in perforated form were on the cards.
Lock options were available in a restricted form. Only in U.S. did this generation of ATMs create a pool solution, which many American financial institutions joined.
Due to advances in hardware and software development, the third ATM generation brought the breakthrough. The development, which is not completed today, is based on the equipment of the plastic card with a magnetic stripe with uniform standards and specifications.No more is already d. fourth ATM generation in the market. On the one hand, it is still based on the magnetic strip and on the other hand already on the chip.
Today, many cash withdrawals cards – such as the American and Canadain cards (ATM and debit cards) – are equipped with an EMV-compatible chip.
In view of the planned realization of EMC specifications for all MasterCard and Visa products, it can be expected that in 5 years almost all cash reference cards will be equipped with a chip in addition to the current magnetic stripe (hybrid cards) and in the application of the technology The trend from magnetic stripe to chip is to be noted.By the chip technology, a function can be added to the cash dispensers: they are then not only the cash dispenser, but can also take charge of electronic purses.