John Shepherd-Barron who is credited with inventing the world's first automatic cash machine / ATM, has died after a short illness. He was 84. Shepherd-Barron died peacefully in hospital in Inverness on Saturday. Shepherd-Barron once said that he came up with the idea of the cash machines after being locked out of his bank.
John Shepherd-Barron credited coming up with the of cash dispensers in 1965 while a bath after arriving at his bank 1 minute late on a Saturday afternoon.
He later was talking with the general manager of Barclays Bank and asked for 90 seconds to pitch his idea over a pink gin. This led to a follow up meeting and an order for 6 cash dispensers. The first machine was installed in north London on June 27, 1967.
While developing the machine, he also incorporated the idea of a 4-digit personal identification number (PIN). He initially was going to have 6-digits matching on an Army ID, but his wife Caroline suggested that it was easier to remember 4 digits....
Because magnetic stripe cards were not invented yet, he supported secure documents, mainly checks. Similar to paper currency in a chocolate vending machine.
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