Download - Moneypad- the future wallet
Government Polytechnic Pune(An Autonomous Institute of Government of Maharashtra)
Seminar Presentation on
MONEY PAD Presented By Guided By
Prof. H. S. Pawar
Shubham S. Kolapkar
Contents Introduction Present System Architecture Technical Details Transaction using Money Pad Need of Money Pad Applications Advantages & Disadvantages Conclusion
1.Introduction Money Pad is a e-cash handling system that recognises Finger
Print’s of the user and decides weather the user is a authorised person or not.
2.Present System
Credit Cards
Debit Cards
• Disadvantages of Credit card & Smart Card
Instant clearing of funds is not possible.
Limitations on the purchase by the issuer of card.
Transaction involves certain charges.
Card has to be renewed once it is expired.
3.Architecture
4.Technical Details
Money pad uses the Biometric Technology for money transactions.
Biometric technology is defined as automated methods of identifying or authenticating the identity of a living person based on unique physiological or behavioural characteristics.
• How It Works
1. Capture
2. Extraction
3. Comparison
4. Matching
5.Transaction Using Money Pad
6.Need Of Money Pad For Instant clearing of funds
To Avoids the insecure way of carrying money
To Provides strong security
To Avoids the nuisance of renewing
7.Applications Applicable in e-banks and in any kind of e-transactions.
Useful to carry Digital cash.
Utilization of personal data in filling order forms.
Applicable in m-commerce transaction.
Applicable in daily life.
• In Case of Accident
If any problem arrives the transmission means forward it to the Money Pad Management unit.
Then money pad management unit supplies temporary data.
The temporary data writes this to a memory of one of the temporary Money Pad devices stored in the medium storage means.
8.Advantages Highly secure
No need to carry physical wallet or cards.
Eliminates problem
Replace passwords
Instant clearings of funds
• Disadvantages
Extra sensor is required
There should at least one e-bank in city
9.Conclusion The following three requirements are necessary i. Instant clearing of fundsii. Elimination of payment riskiii. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions, there is no doubt that in future it will be widely recommended for use.
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