One of the most convenient technologies of our time, ATMs have a surprisingly rich history that most would never think of while withdrawing cash or depositing checks. This infographic goes back to the humble beginnings of the ATM, which was born in New York when a man named Luther George Simjian developed the bankograph in 1962. Over the decades and across three continents, the technology continued to evolve, bringing with it innovations like the personal identification number (PIN), optical card readers and more. And the technology continues to evolve. In fact, a manufacturer in Poland released the first biometric ATM in 2010!
As the technology continues to improve, the demand for ATMs continues to increase. The machines can now be found on six continents, and the total number of ATMs around the world is projected to approach 4 million by 2017. The ever increasing popularity of ATMs has also increased the demand for cash in Europe as well as the US, and despite the emergence of alternative forms of payment, including mobile payments, that demand is expected to keep increasing well into the future.
If you liked this infographic, be sure to read Cash Box: The Invention and Globalization of the ATM by Tom Harper and Bernardo Batiz-Lazo. The book is being released at ATMIA’s 14th annual US conference and goes into much more detail about the development of ATMs and how they have affected the way people do business.