Prarthana Money Pad

7/31/2019 Prarthana Money Pad

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A SEMINARREPORTON

MONEY-PAD

Prepared By:

Prarthana Fadia

(110433116021)

5th ITShantilal ShahEngineering College


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MONEY PADTHE FUTURE WALLET


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INTRODUCTIONThe 21st century will be paperless paper

currency and checks are gradually beingsubstituted by smartcards, digital cash and

instant transfers of funds.

The wallet of the future will hold less papercash, coins and magnetic stripe cards. It willhold instead Money pad containing Digitalcash and other financial information, updated perhaps Automatically by a PDA With asatellite communication link.


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CREDITCARDSDISADVANTAGES

Instant clearing of funds is not possible .

User is always under the pressure oflimits on purchase defined by the issuerof the card and also every transactioninvolves certain Charges.

Insecure transactions using fixedencryption.

The card has to be renewed once it is

expired.


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SMARTCARDSDISADVANTAGES

Insecure transactions usingfixed encryption.

Risk of data loss due to chip

failure.


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write protect Nah

Touch sensor

Outer cover

Magnetic disk

Space for read/write

Central hub

A money pad


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Operations of money pad

Process in request of money pad.

New user

Request formoney pad

Create fornew account

Money pad isissued

Database server

Enter an e-book

Creates the

details of thenew user and

his finger printrecord


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Technical implementation ofmoney pad

The money pad uses the Biometric Technology as thetechnique with which the security is provided.Biometric Technology are used to accurately identifyand verify an individuals identity.

The accuracy of any biometric system is measured intwo ways :

False Acceptable Rate where an imposter is

accepted as a match. False Rejection Rate where a legitimate match is

denied access.


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Applications of money pad Applicable in e-banks and in any kind of e-

transactions.

The money pad device is capable of carrying digi-cash and it is useful to perform any kind of e-

banking or any kind of e-transaction.

To perform remote transaction like e-payments, digi-cash transfer etc.,Useful to carry Digital cash..

The Money pad provides a secure means to carrydigi-cash.

It is applicable to any kinds of ecommerce

transactions.


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Applicable in daily life. It is useful in shopping, identification, telephone

services and licenses . It is applicable in daily life.


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Conclusions

The following three requirements are necessary;

1. Instant clearing of funds

2. Elimination of payment risk

3. Secure transactions using strong encryption

In future when internet is going to capture the worldthere is no requirement of any card or pad just a

small device which can recognize the finger print canbe attached at any place throughout the world.


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Thank You!

Prarthana Money Pad

Documents

Transcript of Prarthana Money Pad