ATM Inventor Dies

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ATM Inventor Dies

Indian born Scotsman John Shepherd-Barron, who invented the world's first ATM has passed away at the age of 84 after a brief illness.

ATMs changed the way the world went about doing their banking transactions. And the man credited with being the inventor of the world's first automated cash machine, John Shepherd-Barron, died in northern Scotland's Raigmore Hospital after a short illness. He was 84. Shepherd-Barron came up with the idea of an ATM when he was once locked outside his bank and could not complete the transaction he came there for. He thought about the cash dispenser by being inspired with the chocolate vending machines.

This is what he had to say in an interview with the BBC a couple of years back - "It struck me there must be a way I could get my own money, anywhere in the world or the UK. I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash." Due to his idea and effort, Barclays PLC installed the world's first ATM in London on June 27, 1967. And as of today, according to the ATM Industry Association, around the world there are a little less than 2 million ATMs. In 2004, in recognition to his contribution towards the banking industry, he was awarded the Officers of the Order of the British Empire (OBE).

The machine Shepherd-Barron invented was a little different as compared to those of today. In those days there were no ATM cards. Special checks with chemical codes were needed to be placed in a drawer of the machine, after entering a personal identification number (PIN). Another drawer containing a £10 note would then pop open, and the customer could collect the money. Shepherd-Barron had initially planned to introduce 6 digit PINs, but his wife Caroline complained that 6 digits was too difficult to remember, and that he should make do with a 4 digit PIN. Shepherd-Barron told the BBC, "Over the kitchen table, she said she could only remember four figures, so because of her, four figures became the world standard."

Though not with us now in flesh and blood, Shepherd-Barron will be remembered forever, thanks to his invention of the ATM, the machine which revolutionized the way banking is done the world over.

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