The first ATM—dubbed a 'cash dispenser'—was installed in 1967 in London

ATMs drastically expanded access to checking accounts in the 1960s

The invention disrupted the local bank industry, allowing customers to access cash around the clock and when out of town. The innovation also reduced the headcount needed for bank services and created a new revenue stream via ATM fees for noncustomers. This 50-year anniversary retrospective revisits the cash kiosk.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

Key moments in fintech history include the transatlantic cable’s invention and E-Trade’s founding

Founded in 1982, E-Trade was the first-ever online brokerage, pioneering a method of investing that is common today. Its story is part of a timeline that the New York Times put together of key moments in early fintech history.

London bankers created the first clearinghouse to process checks in 1770

Until that time, each banker was required to bring that day's checks to every other bank for settlement. Perhaps understandably, the first place bankers opted to gather to clear and settle checks was a tavern known as the Five Bells. The innovation gave rise to what would become clearinghouses, key institutions that facilitate payments.

The first modern payday lending store opened in Tennessee

Check Into Cash Inc. is widely recognized as the first national payday lending company. Originally started by a preacher in Johnson City, it was later popularized by Allan Jones, who founded Check Into Cash in 1993. Jones has since donated a significant amount of money to the city. (Some users may experience a paywall.)

From bartering to banking, temples to electronic transactions, here’s banking has evolved significantly since ancient times

A few historical facts about banking (like that one day, not long ago, certificates of deposit were physical pieces of paper) may not surprise you. But did you know that the church was the original lender? And that Julius Caesar himself invented foreclosure?

American Express debuted its first charge card in 1958 to give travelers access to cash abroad

The original American Express charge card was made of purple paperboard and allowed customers to book travel. Unlike credit cards, the card's balance had to be entirely paid off each month. When the card first launched, 250,000 customers used it, and 17,500 companies had agreed to accept it.

The process of electronic funds transfer was approved in the US in 1978

An electronic funds transfer is the transfering of money from one bank account to another via computer-based systems. When it was first introduced, it was revolutionary. A video from 1980 aimed to explain the value of electronic funds transfer to consumers at the time.

In 2013, American Express became the first credit card company to open an airport lounge

American Express opened its first airport lounge, the Centurion, in Las Vegas more than a decade ago. Since then, not only has American Express increased the number of lounges it has in airports across the country, but other credit card companies have also opened lounges.

Meet Alphonse Desjardins, a credit union pioneer

The first credit union opened in Germany in 1864, but the bank alternative didn’t reach North America until 1901. That’s when Canadian journalist Alphonse Desjardins introduced the concept to his hometown with a starter 10-cent deposit. Desjardins helped launch the first US credit union just eight years later. This engaging timeline highlights Desjardins, his contributions to credit unions, and how the institutions have evolved over the last 100-plus years. Scroll through the timeline here.

The history of credit cards begins with the 'Fresno Drop.'

On a 1958 morning in Fresno, California, about 60,000 people woke up to find a strange rectangular piece of plastic on their doorstep without explanation. Those chosen for the "Fresno Drop" didn't know it yet, but Bank of America was behind the credit card delivery stunt.

The first commercially successful calculating machine—the arithmometer—was patented in 1820 but not mass-produced for over three decades, likely because its inventor was focused on his insurance business.

Antarctica has two adjacent ATMs installed by Wells Fargo in 1998 to serve the population of McMurdo Station, a research facility that houses up to 1,000 people and is run by the National Science Foundation as part of the US Antarctic Program.

The first compact cassette tape was introduced at IFA 1963

At IFA 1963 in Berlin, Philips introduced the compact cassette tape. This new standardized audio format replaced bulky reel-to-reel tape and would go on to dominate home recording and music listening for decades.

The Bank of America began as the Bank of Italy—one of the first US banks for the middle class—and loaned money to individuals to help rebuild after the 1906 San Francisco earthquake.

Hamilton founded what many regard as the first commercial bank in the United States

In 1784, Alexander Hamilton helped found the Bank of New York, which initially operated without a charter, financed early federal operations, provided what is considered the US government's first loan, and became the first stock traded on the New York Stock Exchange.

See a timeline of American Express' history

Since its founding in 1850, American Express has evolved from a mail delivery service to a multinational financial services company. Small additions to the company over time, such as taking money orders and inventing traveler's cheques, were key drivers of the company's transformation.

The term 'artificial intelligence' was coined in 1956

Dartmouth professor John McCarthy introduced the term during a summer workshop aimed at exploring how to make machines perform human-like tasks. Two years later, Perceptron Mark I became one of the first neural network machines.

A timeline of Wall Street's history

Wall Street's historical timeline starts with Wall Street getting its name in the 1600s and ends with details about the Occupy Wall Street movement in 2011.

A timeline of computer history

The earliest computers bear little resemblance to the computing devices that most people rely on today. This timeline graphic from the Computer History Museum tracks their evolution, from the early days of bulky mainframes that only experts generally used through to the personal computing revolution and on to the modern mobile era. Readers will learn important context ahead of the next major computing platform shift.

Bank of America helped establish Visa as a global credit card network business after it rolled out its first credit cards.

At the time, those credit cards were called "BankAmericards." Today, Bank of America owns less than a 2% share of Visa—many other banks (as well as institutional investors) help govern and profit from the network.

eCash paved the way for today’s popular crypto investments

Bitcoin is typically cited as the first decentralized cryptocurrency. But some argue that back in the 1990s, eCash was technically the first cryptocurrency, although it wasn't decentralized.

American Express is credited with inventing the traveler's check

In the 1890s, then American Express President James C. Fargo was frustrated that he couldn't get cash while traveling in Europe outside of major cities. Marcellus Berry, an American Express employee, came up with the idea of a traveler's "cheque": a prepaid check, similar to cash, that requires the signature of both the customer and the receiving institution to be valid. American Express never modernized the spelling of the word "cheque" and stopped providing them at the end of 2020.

American Express was the first company to offer 'gold' cards to borrowers

American Express began offering gold cards to affluent consumers in 1966. However, other credit card companies began offering similar, premium cards in the 1980s, which quickly became a status symbol for wealthy Americans.

The first smartwatch was made by Microsoft in 1994

Coproduced by Timex, the Timex DataLink 150 featured a small LCD screen and could transfer data to and from a Windows PC. Like the Windows XP Tablet that launched in 2002, the smartwatch did not sell well, and both products are considered to have been released before their time.

As technology evolved, so did Wall Street

Before the telephone was invented in the mid 1800s, people had to trade stocks in person. But once office telephones and computers became commonplace, banks and other financial institutions didn't necessarily need to have their headquarters near exchanges like Wall Street's New York Stock Exchange.

The world's first text message was sent on Dec. 3, 1992, when 22-year-old engineer Neil Papworth sent 'Merry Christmas' from a computer terminal.

CES debuted in 1967 amid a wave of miniaturization in at-home electronics

The rapid development of integrated circuits—the basis of computing power—in the 1960s catalyzed an industrial shift toward miniature devices, including pocket transistor radios, smaller TVs, and more. This first consumer electronics trade show (with a slate of 117 exhibitors and 17,000 attendees) sought to make everyday electronics accessible and portable. See a timeline of early consumer tech with photos.

A brief history of artificial intelligence

The concept of artificial intelligence and what it may mean for humanity has evolved as computer technologies have grown increasingly powerful through the decades. Beginning with the first (massive) computers in the 1940s, scientists have sought to make the machines as intelligent as humans. But it wasn't until computing power made exponential gains have computers begun to imitate human behavior.

View a timeline of 3D printing technology through 2019

The first working 3D printing device was invented in 1983 and utilized stereolithography, a process in which a laser triggers a chemical reaction that hardens liquid resin. Powder-based laser sintering technology was patented in 1987, with metal-based powders first being used for 3D printing in 1997.

The United States had a washing machine that cleaned dirty dollar bills

In the early 1900s, the US Treasury Department had a machine that washed and ironed old, soiled paper bills. The machine helped the Treasury save money by decreasing printing costs for new dollar bills, but had nothing to do with the modern understanding of money laundering.

Fintech relies on technology, not physical location, to serve financial customers

Most of the industry's prominent players were created since 2010, and are still in a growth phase. These institutions have broadly disrupted traditional banking and have pushed physical banking locations toward obsolescence.

How the US first installed an electronic fence along the southern border

The US Border Patrol's first automated surveillance system launched in 1970 with 177 ground sensors installed along a single section in California. The sensors had already been used in Vietnam, along the so-called McNamara Line, and were connected by radio transmitters to magnetic-tape computers. They were implemented to target people defined by law and deportable aliens.

The Mint’s first circulating coins were 11,178 copper cents

Congress authorized the first national mint in Philadelphia. The next year, the Mint delivered its first circulating coins, which were bigger than today’s quarters. This article shows more early US currency.

Visa Founder Dee Hock abruptly left the credit card company in 1984, saying his inner voice told him that business, power, and money are not what life is about.

A stock market timeline

The stock market has come a long way since the 1600s, when the first version of a stock exchange was created in Amsterdam. Mile markers along the way include everything from the Dow Jones Industrial Average's creation in 1896 to the stock market woes during the COVID-19 pandemic in 2020.

The world's first webcam was invented in the early 1990s by scientists at Cambridge Computer Laboratory to monitor a coffee pot for researchers working in different labs on various floors.

The first tattoo gun was based on an electric pen invented by Thomas Edison.

Hamilton created the First Bank of the United States

As Treasury secretary, Alexander Hamilton proposed the First Bank of the United States to stabilize national finances—serving as the government's fiscal agent, managing debt, and expanding credit through a public-private banking model.

Listen to a podcast episode from 1440's editor in chief that explains how a credit card transaction works behind the scenes.

When you buy even something as small as a $5 latte, a global relay between banks and networks like Visa and Mastercard is triggered. It all started with a 1958 campaign from Bank of America that jump-started the credit card revolution.

Visualize the 5,000-year history of consumer credit in one infographic

Consumer loans for agriculture were likely first used around 3500 BCE, but modern consumer credit took many more centuries to be established. England's credit reporting system, for instance, dates back to the early 1800s when a group of English tailors began swapping information about customers who failed to settle their debts.

Read about the history of gift cards

The first retailer to sell gift cards was Neiman Marcus, but Blockbuster popularized them by selling them via in-store displays in 1994. Starbucks then started selling gift cards that could be reloaded in 2001.

Leonard Thompson was the first human to receive an insulin injection for diabetes

In January 1922, the 14-year-old was the first person to receive an insulin injection to treat diabetes, just months after insulin was isolated in dogs and used to treat their induced diabetes. Thompson had an allergic response to an apparent impurity in the injection, but his second dose, 12 days later, was a success.

One of Apple's first computers sold for $375K at an auction

An operational Apple I, the first model of personal computer made by Apple, sold for $375K at an auction. The machine was first sold in 1976 and has a handwritten serial number by Steve Jobs himself. The auction, provided rare insight into the beginnings of the influential tech company.

In 1882, American Express began offering money orders to compete with the US Postal Service

Money orders were American Express' first move into financial services. USPS launched its money order service in 1864 as a way for Civil War soldiers to send money back home. Between the 1880s and 1920s, immigration into the United States surged;the American Express money order service gave immigrants a way to send money to family members living in other countries.

The concept of CDs dates back to the 1600s in Europe

Banks in the US started issuing CDs in the early 1800s as the banking system began to take shape following the Revolutionary War. The federal government did not formally insure CDs until the FDIC was formed in 1933.

Listen to the history of the first banner ad on the internet, which went live on Oct. 27, 1994, on HotWired.com and pioneered the modern concept of digital advertising.

Upgrade cost and compatibility issues have kept Microsoft's legacy systems alive

As of 2025, Windows XP and Windows NT continue to power ATMs and transit systems, while Deutsche Bahn's trains use Windows 3.11 for display systems. Microsoft's continued support for these operating systems helps it maintain its dominance in the business sector.

There's a myth that Al Capone coined the term 'money laundering,' or the process of disguising the criminal origins of illegally obtained money so it can be used without detection.

The British pound is the oldest currency still in use

Also known as the “pound sterling,” the British pound is more than 1,200 years old. It dates back to around 775 CE, but it didn’t become the official currency of England until the 12th century. One pound originally represented a pound of silver. The below graphic shows some of the other oldest currencies still in use today.