The ubiquitous automated teller machine (ATM) is turning 50 this year. It was on June 27, 1967, that the first ATM was opened to the public at a Barclays branch in a suburb of London. Let’s go through few ATM statistics, the machine’s history. Who invented the ATM? While John Shepherd-Barron is commonly believed to have come up with the idea for the ATM, others have contested it. Other teams […]

Amid the big push being given to digital transactions post-demonetisation, NITI Aayog CEO Amitabh Kant today said cards, ATMs and Point-of-Sale (POS) machines would become redundant in the country by 2020. “….India is in the midst of huge huge disruption in the world of both financial technology and in terms of social innovation (there is) huge huge innovation and this disruption will enable India to leapfrog…,” he said. “…and by […]