Luther George Simjian invented the ATM around 1939. According to the Massachusetts Institute of Technology, "Simjian registered 20 patents related to the device and persuaded what is now Citicorp to give it a trial. After six months, the bank reported that there was little demand." It took another 30 years for the ATM to make its public debut, dispensing cash to customers at Chemical Bank in Rockville Center, New York. In 1972, Lloyds introduced the first computerized self-service automated teller machine. By the 1980s, ATMs became extremely popular because of their 24/7 availability. In 2010, the first biometric ATM was introduced in Poland.
ATMs are essentially computers that are connected to a central computer through a data network. They primarily enable people to make bank deposits and withdrawals, to transfer funds, and to check account balances electronically, sometimes in a location far away from their own banks. ATMs are also used to provide an increasing number of other services, such as employee information processing and distribution of government payments.
The number of ATMs throughout the world decreased from 3.24 million in 2018 to 3 million in 2022, according to RBR. The banking strategic research and consulting firm cited the popularity of mobile payments and branch closures as reasons behind the decline, which occurred in North America, Western Europe, Central and Eastern Europe, Asia-Pacific, and Latin America. The number of ATMS in the Middle East and Africa increased slightly. RBR forecast that the world's network of ATMs would continue declining, reaching 2.9 million in by the end of 2028.
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