The world’s
first Automated Teller Machine (ATM),a technology which brought transformation
in the way people obtain and use cash, on Tuesday clocked 50 years.
According to
the Mirror, the world’s first ATM was unveiled by Barclays at its Enfield
branch in North London on June 27 1967.
As a tribute
to the golden anniversary, Barclays transformed the ATM at its Enfield branch
into gold, added a commemorative plaque and placed a red carpet in front for
its users.
The original
ATM was the brainchild of Scottish inventor Shepherd-Barron, and was
commissioned by Barclays to create six cash dispensers, the first of which was
installed at Enfield.
English
actor Reg Varney, who starred in the British TV comedy show “On The Buses”, was
the first person to withdraw cash from the new machine.
The ATM was
designed to transform people’s ability to manage their finances by giving
customers access to cash outside bank branch opening hours.
Despite the
rise in other new technologies such as online and mobile banking, the ATM
remains popular 50 years on.
Now there
are an estimated three million cash machines across the globe with some 70,000
cash machines in the UK alone which dispensed 175 billion pounds in 2016.
This month
also marked 30 years since Barclays introduced the debit card to the UK, on
June 3 1987. (NAN)
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