money pad ppt

April 12, 2023 Sample footer 1

Welcome

Money pad

To


Introduction:

The 21st century will be paperless paper currency and checks are gradually being substituted by smartcards, digital cash and instant transfers of funds. The wallet of the future will hold less paper cash, coins and magnetic stripe cards. It will hold instead Money pad containing Digital cash and other financial information, updated – perhaps Automatically by a PDA With a satellite communication link.


Key words : Money pad

Digital or electronic cash

Personal digital Assistance

Biometrics Technology

Finger Print Reader

Float

Fiat Money

Specie-Backed

Legitimate


Use the present system :

Credit Card : Credit cards are payment devices that allow the consumer

to make purchases within guarantied limits as defined by the issuer of the card.

Dis-advantages :

i. Instant clearing of fund is not possible.ii. User is always under the pressure of limits on iii. purchase defined by the issuer of the card andiv. also every transaction involves certain

charges.v. Insecure transactions using fixed encryption.vi. The card has to be renewed once it is expired.


Smart cards : Common smart card chips typically holds about 8,000 bytes of information.

Dis-advantages :

Insecure transactions using fixed encryption. Risk of data loss due to chip failure.

write protect Nah

Touch sensor

Outer cover

Magnetic disk

Space for read/write

Central hub

A money pad


Operations of money pad:

Design of the system :

Process in request of money pad.

Request for money pad

Create new

account

Money pad is issued

New user

Database

Server

Enter an e-book

Creates the details of the new user and his

finger print record


Transaction using money pad:

A user wants to use the money pad he has to place his finger on the touch sensor and then place it in a finger print reader. The reader will ask for bank code of the database. Then he can enter into his e-bank, After the reader will access the finger print.

Money pad

Finger print Reader

Database Server

E-book

Cannot access cash is e-mail to owner’s account

Authorized

Unauthorized

General information of user Information collected

in passed To the server for

verification.


Technical implementation of money pad:

False Acceptable Rate – where an imposter is accepted as a match. False Rejection Rate – where a legitimate match is denied access.

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

The accuracy of any biometric system is measured in two ways :


Applications of money pad:

Applicable in e-banks and in any kind of e-transactionsThe 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. Can be used to carry out remote transactions

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

The Money pad provides a secure means to carry digi-cash. Utilization of personal data in filling order forms

The personal data stored in the money pad can be used to fill order forms thus savings users time. Applicable in m-commerce transactions

It is applicable to any kinds of ecommerce transactions.


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

and licenses . It is applicable in daily life.

Conclusion:

The following three requirements are necessary:

1. Instant clearing of funds2. Elimination of payment risk3. Secure transactions using strong

encryption

In future when internet is going to capture the world there is no requirement of any card or pad just a small device which can recognize the finger print can be attached at any place throughout the world.


Thank you

money pad ppt

Economy & Finance

digital cash

paper cash

electronic cash

fiat money

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welcome money padmarch

personal digital assistance