research papers on atm machines

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docxIMPACT OF AUTOMATED TELLER MACHINE AND EFFECTIVE OF TELLER ON BANK CUSTOMER’S SATISFACTION31 PagesUploaded byOlabode IbukunViews  connect to downloadREAD PAPERDownloadUploaded byOlabode IbukunLoading PreviewSorry, preview is currently unavailable. You can download the paper by clicking the button above.
Industry structure The economics of ATM deployment Conclusions References The automated teller machine (ATM) has become a part of everyday life. According to Dove Consulting (2004), there are approximately 371,000 ATMs in the United States that process 30 million transactions per day. Concurrent with the growing deployment of ATMs has been significant variation in the price of ATM services. In particular, the surcharge fee paid by consumers using an ATM that does not belong to their bank increased from zero in 1996 to an average of roughly .50 in 2003. These price increases have been met with opposition from community groups who argue that the price increases fall heaviest on disadvantaged segments of the population. Over the past several years, many municipalities have considered either capping surcharges or banning them altogether. The proliferation of ATMs and the pricing schemes that accompany them also have attracted a great deal of attention from research economists, because they shed light on how banks compete against each other in the current environment. By studying the pattern of entry of ATMs in certain markets we can gain insight into the potential welfare consequences of the lifting of artificial price controls. This Economic Letter reports on recent research on bank ATMs and ATM surcharges. Industry structure The ATM industry infrastructure consists of card-issuing banks, ATM machines, and a telecommunications network to process transactions (see Hayashi, Sullivan, and Weiner 2003). In the early stages of their deployment, ATM machines generally were owned and operated by banks, and the machines were physically located on the bank premises. By the 1990s, much of the growth in ATM deployment shifted to nonbank locations, such as convenience stores and grocery stores. Today, the majority of ATMs are located at sites other than banks. Moreover, many of.
It is your money and you want immediate and easy access to it. Can you imagine a time, way back in the 1970s, when people had to wait in line during a bank's limited hours to get money from their own accounts? The advent of the automated teller machine (ATM) changed the way consumers handle their money. The ATM also shows how technology can change traditional business and consumer practices. The evolution of the ATM reflects the technology of the time. As personal computers (PCs) and networks became more sophisticated, the ATM followed. The first ATMs were proprietary (i.e., the private property of a single individual or institution) and stand-alone (i.e., independent devices that did not connect to a network). These original ATMs were not PC-based; they did not have a PC processor or hard drive. They were based on a proprietary processing chip that was developed by the ATM manufacturer. Because the first generation of ATMs were stand-alone devices, they had to be updated each day with account balances from the host bank. The magnetic strip on the back of the bank card recorded the customer's activity for the day to maintain an accurate account balance between updates from the host. In the 1970s, the online network became part of the ATM. With a modem and phone line, the ATM could connect to the bank's computers to verify account balances. Banks realized they could reduce their hardware and expand their reach through shared networks (i.e., the once private networks of one bank communicated to another bank's network). Through the decade, these networks expanded regionally and later consolidated their interests into national networks, such as Cirrus and Plus. Inside most ATMs in the early twenty-first century are PCs with an Intel processor chip running IBM's OS/2 Warp operating system. Software and hardware developed by ATM manufacturers connects all of the.