Global ATM Banking: Casting the Net

Abstract

Twenty-five years of technological progress have transformed the way banking is done. Paychecks can be deposited, charitable contributions withdrawn, electronically. Customers can make cash withdrawals without ever seeing a human teller, at a machine their bank doesn’t own, perhaps even in a country where their bank has no office. These innovations have not only affected customer convenience, but have also changed the economic reference points for evaluating the efficiency of the electronic payments industry.