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Banking machines are an electronic software and hardware complex that is designed to perform a wide range of operations (see below). The first ATMs appeared in 1971 in the city of Atlanta (USA). They were installed in the premises of bank branches and performed only one operation - the withdrawal of cash from a bank account within a certain limit. ATMs were powered by a dedicated debit card or general credit card.
Currently, the scale of use of ATMs, their placement and the range of operations have changed significantly. Among the main operations carried out by holders of bank cards, one can single out cash withdrawals, obtaining a statement of the state of a bank account, replenishing a current account with cash, repaying loans, making non-cash payments. ATMs are installed both in the premises of hotels, supermarkets, university buildings, train stations, and on the streets.
The use of automated teller machines allows banks to reduce operating costs for cash transactions, reduce the number of staff and reduce the need to open new branches. In addition, banks receive additional commission income by charging a fee from holders of bank cards of other issuing banks for using their ATM. To increase the efficiency of using ATMs, banks are uniting their networks and providing customers with the opportunity to use machines from different banks over large areas. In turn, ATMs are also more convenient for the bank's customers, as they reduce the need to travel to the bank for daily transactions.
Another type of automated payments - POS terminals (point of sale - POS). They are special electronic devices with the help of which the authorization of bank cards and the preparation of the corresponding settlement documents is carried out. The terminals allow you to pay for everyday purchases in shops, cafes, gas stations, etc. using a bank card. As a rule, most large retail outlets accept bank cards as payment for their products and, accordingly, are equipped with terminals.
Currently, the scale of use of ATMs, their placement and the range of operations have changed significantly. Among the main operations carried out by holders of bank cards, one can single out cash withdrawals, obtaining a statement of the state of a bank account, replenishing a current account with cash, repaying loans, making non-cash payments. ATMs are installed both in the premises of hotels, supermarkets, university buildings, train stations, and on the streets.
The use of automated teller machines allows banks to reduce operating costs for cash transactions, reduce the number of staff and reduce the need to open new branches. In addition, banks receive additional commission income by charging a fee from holders of bank cards of other issuing banks for using their ATM. To increase the efficiency of using ATMs, banks are uniting their networks and providing customers with the opportunity to use machines from different banks over large areas. In turn, ATMs are also more convenient for the bank's customers, as they reduce the need to travel to the bank for daily transactions.
Another type of automated payments - POS terminals (point of sale - POS). They are special electronic devices with the help of which the authorization of bank cards and the preparation of the corresponding settlement documents is carried out. The terminals allow you to pay for everyday purchases in shops, cafes, gas stations, etc. using a bank card. As a rule, most large retail outlets accept bank cards as payment for their products and, accordingly, are equipped with terminals.
