Apple INC wants you to be a Human ATM

Way back in 2011, Apple filed a patent with US Patent Office, to patent an APP that can encourage human beings to exchange cash for an electronic credit in their account.

The concept works on the underlying principle that an ATM is not always easily accessible in most part of the country. It can be any country, India, or United Kingdom or U.S.A.

Human beings prefer to deal with other human beings rather than machines. This has well documented and bank customers are saying that they prefer to deal with humans rather than machines, for their daily banking activities.

One of the primary activities of any Bank is to enable its customers to withdraw physical cash from their accounts. Initially the cash disbursement activity was done Bank Tellers, but now it has been taken over by ATM (Automatic Teller Machines)

This Patent was stumbled upon by

One of the founders of this APP is Arjun Kapoor, NAND Flash Engineer with Apple INC.

The propose process flow is as under:

a)   The APPLE customer, logs into the “ad-hoc cash-dispensing network” APP and requests for  Rs500 (example).

b)   The APP delivers the request to prospective lenders in the same location.

c)   The prospective lenders intimate their willingness to lend the physical cash.

d)   On the first come first serve model, the match between the cash requestor and the cash lender is arranged.

e)   Both the parties meet at a common meeting place, and the cash is exchanged.

f)   Once the cash requestor conforms the receipt of the cash, the cash requestors account is debited and the cash lenders account is credited.

g)   Apart from the actual transaction, a service fee is also levied to the cash requestor.

Though the patent was filed in July 2011, only today it has appeared in the US Patents website.


Re-disseminated by Prashant N. Banker by daytime, Blogger by night.

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