The year 2017 is almost certain to be a milestone year for the ATM — not only because it marks the 50th anniversary of the first installed machine, but also because it heralds the beginning of the industry’s reinvention of the ATM as a next-gen banking device.
As a technology pioneer in the collective process of innovation that accelerated in the 1960s throughout Europe, America, and Japan, principal co-founder of the ATM, Shepherd-Barron, certainly deserved his Lifetime Achievement Award from ATMIA
The simple explanation he shared as to how he originally conceived of the ATM was, "if chocolates can be dispensed, then why can't cash?" The simple revolutionary idea behind the worldwide ATM industry is that cash is a physical product — like a chocolate bar — and should be dispensed automatically – anywhere, anytime.
We can see today that yes, cash dispensing via a machine works, big time. And let’s face it, cash is always going to be much more popular than chocolate bars. To put things into perspective, consider the production rate of ATMs since their inception in 1967 — 3 million machines manufactured in 50 years – this averages out to 60,000 per year – or roughly 165 ATMs every single day.
But 2017 isn't just about a proud history stretching out over half a century. Many underlying strengths and drivers of the future continue to propel the ATM industry towards 2040 and beyond, including:
Clearly the ATM isn’t going anywhere, but rather evolving. No matter what your ATM need is – for now or the future – at Debit Express we are always available to answer your questions! Please contact us