Timeline of ATM Manufacturers
With changing technologies and advancement, ATMs have contributed quite a bit in helping customers gain access to cash. These machines have been a part of the American landscape since the 1970s. ATM manufacturers have played a big role in this progress. Luther George Simjian invented the first ATM machine and coined the concept of hole-in the-wall banking in the late 1930s. His invention allowed people to draw money from the machine without even having the need to visit the bank. Initially people showed no interest in the ATM and the idea was not successful. John Shepherd-Barron proposed his ideas at a conference in Miami, Florida. In 1967, he invented an ATM in a Barclays’ Bank in London.
James Goodfellow of Scotland holds the earliest patent date of 1966 for a modern ATM. His machine consisted of a readable encrypted card and a numerical keypad. Goodfellow’s machines were installed in the United States in the 1960’s and 1970’s.
Don Wetzel, along with Tom Barnes and George Chastain, designed an ATM. It took five million dollars to develop the ATM. The first Don Wetzel ATM was installed in a New York based Chemical Bank. John D White invented the first free-standing ATM machine equipment. His ATM was first installed at the Rockville Center. Jairus Larson invented the first online ATM machine communicating with the bank’s network. These early ATM inventors have provided strong guidelines to the present day manufactures. By following their footsteps, companies are now providing fast, reliable and high-tech ATM machines.