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same with you, we’re currently doing our thesis about the Local Currency Money Changer Machine. Card reader The card reader captures the account information stored on the magnetic stripe on the back of an ATM/debit or credit card. The more complex machines accept deposits, facilitate line-of-credit payments and transfers, and access account information.ATMs require consumers to use a plastic card—either a bank debit card or a credit card—to complete a transaction. Of course, for this to happen there should also be the availability of a host processor. Because it does the same work again and again like deposit money, withdraw money etc. This information is passed on to the host processor by the ATM machine.
If the host is owned by the bank only machines that work for that particular bank will be supported.Plz give the inner working of atm and its part detail.A complete record of each transaction made by a particular ATM machine is recorded each day and is kept as a journal. Of course, for this to happen there should also be the availability of a host processor. Most ATMs that are found in banks are multi-functional, while others that are offsite tend to be primarily or entirely designed for cash withdrawals.In many cases, banks and credit unions own ATMs. For that it gives output very fast. Do you have any idea how your bank money is received from any part of the country? The new ATM machine ADA standards required full compliance by the deadline date of March 15, 2012. The host processor checks these details with the authorized bank. An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Some extremely valid points! If you are an ATM Operator, an ATM company or a retail merchant operating one or many ATM machines, these new requirements will affect every active terminal in your ATM portfolio or retail location. These types of machines are preferred in places where the user volume is high.
Reg Varney using the first ATM in 1967 7. An Automated Teller Machine ATM is a safety-critical and real-time system that is highly complicated in design and implementation.
The Internet Service Provider (ISP) also plays an important role in this action. Basic units only allow customers to withdraw cash and receive updated account balances. However, individuals and businesses may also buy or lease ATMs on their own or through an ATM franchise.
Structure of ATM Card reader Keypad Speaker Display screen Receipt printer Cash dispenser 8. The host processor is necessary so that the ATM can connect and also communicate with the person requesting the cash. As there may be cases regarding a particular transaction going wrong, the account owner or also the bank officers have a right to see the transaction.