An Automated Teller Machine (ATM) works through a combination of hardware and software components, enabling users to perform financial transactions. Here's a simplified overview:
Hardware Components👇
1. User Interface (UI): Keyboard, display, and card reader.
2. Card Reader: Reads magnetic stripe or chip-enabled cards.
3. PIN Pad: Encrypts and verifies user PIN.
4. Cash Dispenser: Dispenses cash.
5. Printer: Prints receipts.
6. Communication Module: Connects to bank's network.
Software Components👇
1. ATM Operating System: Manages hardware interactions.
2. Transaction Processing Software: Handles user requests.
3. Banking Application: Interfaces with bank's core system.
Transaction Process👇
1. User inserts card and enters PIN.
2. ATM verifies PIN and authenticates card.
3. User selects transaction (e.g., withdrawal, deposit, balance inquiry).
4. ATM communicates with bank's core system to verify account details.
5. Bank authorizes or declines transaction.
6. ATM dispenses cash or prints receipt.
Communication Flow👇
1. ATM sends transaction request to bank's server.
2. Server verifies account details and transaction.
3. Server responds with approval or decline.
4. ATM receives response and processes transaction.
Security Features👇
1. Encryption: Protects user data.
2. Secure Socket Layer (SSL) / Transport Layer Security (TLS): Secures communication.
3. PIN encryption: Protects user PIN.
4. Anti-skimming devices: Prevent card skimming.
Types of ATM👇
1. Basic ATM: Dispenses cash, checks balance.
2. Advanced ATM: Deposits, transfers, pays bills.
3. Smart ATM: Integrates with mobile banking, offers personalized services.
Future of ATMs👇
1. Contactless transactions
2. Biometric authentication (e.g., facial recognition)
3. Integration with cryptocurrencies
4. Enhanced security measures
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