#Industry News
What is Automated Teller machine (ATM)?
What is Automated Teller machine (ATM)?
An automated teller machine (ATM) is a computerized telecommunications device that allows customers to conduct financial transactions in public places without the need for bank personnel. ATMs mainly have functions such as cash withdrawal, inquiry, and password change (there is no password change function across banks). It is an automated financial device that uses computer networks to realize high-speed transmission of transaction information and applies automatic control technology to process credit card transactions in real-time. At most modern ATMs, customers are identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip. Security is provided by customers entering a personal identification number (PIN). Using an ATM, customers can access their bank account to withdraw cash (or a credit card cash advance), check their account balance, and purchase mobile prepaid credits.
