1.1 Introduction
An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Much of today’s consumer activity depends upon plastic. Credit cards and debit cards are used to purchase products and services as well as to withdraw cash from Automated Teller Machines (ATMs). In order for a card transaction to be approved, the ATM, retailer, or food establishments must submit the request, and the bank that issued the card must authorize the purchase or cash withdrawal. Furthermore, this approval must be provided in real- time since the customer is waiting for it. A key problem is quickly identifying suspicious or fraudulent uses so that those transactions can be rejected and the card suspended. A card transaction is captured by such devices as a point of sale (POS) terminal in a store, a customer’s browser communicating with a website, or an ATM.
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitations of the Study and Definition of technical terms.
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