Post on 24-May-2015
description
Money Pad, The Future Wallet
By, V.Umesh Kumar
Keywords
Introduction Credit and Debit cards Smart cards Electronic purses Money pad Uses Design of the system Field of implementation Conclusion.
Introduction Biometrics. Security. Finger Print recognition. Forms. Accessing. Authorization. E-cash. E-cheque.
Credit and Debit Card
Definition`
Providing details.
Transactions over Internet.
Processing.
Smartcards Definition
Uses.
Memory.
Accessing.
Electronic Purses
Flexibility.
Relation ship based cards.
Financial instrument.
Wallet-sized smart cards useful in Buying food, To making photocopies, To paying subway fares.
Money Pad Floppy disk.
Consists of peripherals like: A touch sensor and Magnetic disk as its peripherals.
Details of the owner.
Transactions.
Why use Money pad? Instant clearing of funds
Avoids the insecure way of carrying money
Provides strong security
Can be meet by a common man
Avoids the nuisance of renewing
Design of the system
The accuracy of any biometric system is measured in two ways
• False Acceptance Rate — Where an impostor is accepted as a match
• False Rejection Rate — where a legitimate match is denied access
Fields Of Application Applicable in e-banks and in any kind of e-transactions
Can be used to carry out remote transactions
Useful to carry Digital cash
Utilization of personal data in filling order forms
Applicable in m-commerce transactions
Applicable in daily life
Conclusion For a digital currency system to attain widespread
recognition and use the following three requirements are necessary:
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions there is no doubt that in near future it will be widely recommended for use .
Thank You