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Evidence from the Patent Record on the Development of Cash Dispensing Technology


  • Batiz-Lazo, Bernardo
  • Reid, Robert J. K.


There are but a handful of systematic studies on the history of automated teller machines (ATMs) yet all fail to address the issue of paternity while perpetrating ‘common wisdom’ beliefs. This article looks at the birth of currency dispensing equipment, the immediate predecessor to the ATM. At the simplest level, at least four separate instance of innovation can reasonably claim to be the origin of the concept. However, the question as to who invented it is less illuminating than an understanding of the process of innovation itself and how these competing families developed into the modern conception of an ATM. Our research supports the view of user-driven innovation as surviving business records and oral histories tell of close involvement of bank staff in establishing requirements and choosing amongst alternative solutions in the implementation of first generation technology. This case thus shows greater understanding in the user’s role in shaping and directing technological development.

Suggested Citation

  • Batiz-Lazo, Bernardo & Reid, Robert J. K., 2008. "Evidence from the Patent Record on the Development of Cash Dispensing Technology," MPRA Paper 9461, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:9461

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    References listed on IDEAS

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    6. Abdul F. M. Shamsuddin, 1994. "Economic Determinants of Foreign Direct Investment in Less Developed Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 33(1), pages 41-51.
    7. Root, Franklin R & Ahmed, Ahmed A, 1979. "Empirical Determinants of Manufacturing Direct Foreign Investment in Developing Countries," Economic Development and Cultural Change, University of Chicago Press, vol. 27(4), pages 751-767, July.
    8. Singh, Harinder & Kwang W. Jun, 1995. "Some new evidence on determinants of foreign direct investment in developing countries," Policy Research Working Paper Series 1531, The World Bank.
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    Cited by:

    1. Ljubica Nedelkoska, 2010. "Occupations at risk: The task content and job stability," Jena Economic Research Papers 2010-050, Friedrich-Schiller-University Jena.

    More about this item


    Cash dispensers (ATMs); History; Financial data processing; Patents; Research and development; User interfaces;

    JEL classification:

    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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