Date: Sat, 25 May 2013 08:47:18 +0200
- C. Enrique Ortiz Mobility Weblog
The ATM is 40 years old, the demise of cash, and the future of payments
Photo source: BBC article The man who invented the cash machine
The Automated Teller Machine (ATM) is 40 years old.
"...ATM will be made redundant within the next three to five years by the demise of paper cash"
"I fervently believe that we will soon be swiping our mobile phones at till points (cash registers), even for small transactions to pay for goods and services."
...and that is music to my ears. As I embark into the waters of mobile commerce, digital money, and related with my new company eZee mobile, it is very exciting to see the visionaries and pioneers such as Mr. Shepherd-Baron validate our vision and mission.
I believe Mr. Shepherd-Baron's prediction and time frames are accurate. But I will add that the ATM won't be replaced by mobile wallets, yet, the mobile handset and ATMs will complement each other...