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  2. 2. Table Of Contents  Abstract  Important terms  Introduction to MoneyPad  Technical Details  How To Use?  Why To Use?  Application  Conclusion  Reference MoneyPad by Kalpesh Dusane 2
  3. 3. ABSTRACT  Replaced paper currencies, electronically.  Initiated debits and credits will become the dominant payment modes, creating the potential for private money to compete with government-issued currencies.  Just as every thing is getting under the shadow of “e” today we have paper currency being replaced by electronic money or e-cash. MoneyPad by Kalpesh Dusane 3
  4. 4.  The Money Pad introduced here uses the biometrics technology for Finger Print recognition.  Thus providing a form of security to the ever- lasting transaction currency of the future “e- cash” ABSTRACT MoneyPad by Kalpesh Dusane 4
  5. 5. Important Terms to know about…  MONEY PAD - A form of credit card or smart card similar to floppy disk, which is introduced to provide, secure e-cash transactions.  DIGITAL MONEY OR e-CASH – They refer to any of the various methods that allow a person to purchase services by transmitting a NUMBER from one Computer to another.  BIOMETRICS TECHNOLOGY - Technology used to accurately identify and verify an individual’s identity.  FINGER PRINT READER – A machine with read/write head capable of reading the information stored in the Money Pad. MoneyPad by Kalpesh Dusane 5
  6. 6.  The wallet of the future will hold  less paper cash  coins  magnetic stripe cards.  It will hold Money Pad containing digital cash and other financial information, updated perhaps automatically by a PDA with a satellite communication link. INTRODUCTION MoneyPad by Kalpesh Dusane 6
  7. 7.  Money Pad recognizes Finger Print’s of the user and decides whether the user is a authorized or not.  Biometrics Technology has made individual privacy even more secure. INTRODUCTION MoneyPad by Kalpesh Dusane 7
  8. 8. Present Systems:- Fig. Present systems for transactions MoneyPad by Kalpesh Dusane 8
  9. 9. Present Systems:- Credit/Debit cards Smart Cards MoneyPad by Kalpesh Dusane 9
  10. 10. Credit Card They are payment devices that allows the consumer to make purchase within guarantied limits as defined by the issuer of card. Disadvantages- 1. Instant clearing of funds is not possible . 2. User is always under the pressure of limits on purchase defined by the issuer of the card and also every transaction involves certain Charges. 3. Insecure transactions using fixed encryption. 4. The card has to be renewed once it is expired. MoneyPad by Kalpesh Dusane 10
  11. 11. Smart Card Holds upto 8000 bytes of information Disadvantages: 1. Insecure transactions using fixed encryption. 2. Risk of data loss due to chip failure. MoneyPad by Kalpesh Dusane 11
  12. 12. New Approach To over come the above drawbacks of credit cards and smart cards a medium of exchange to carry digital cash wherever man wants, which was named as “Money Pad”. MoneyPad by Kalpesh Dusane 12
  13. 13. Fig. MoneyPAD device MoneyPad by Kalpesh Dusane 13
  14. 14. 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. General info. Of users Finger print reader Money pad Database server E-bank Cannot access cash is emailed to owner’s account Info collected in passed to the server for verification Authorised Unauthorised MoneyPad by Kalpesh Dusane 14
  15. 15. Technical implementation of Money Pad  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 :  False Acceptable Rate : where an imposter is accepted as a match.  False Rejection Rate : where a legitimate match is denied access. MoneyPad by Kalpesh Dusane 15
  16. 16.  New User : 1. Visit a nearby bank with e-banking facility. 2. Create an account with some balance. 3. Give necessary details along with finger prints. 4. User is given bank code & account number along with Money Pad Operations of Money Pad MoneyPad by Kalpesh Dusane 16
  17. 17. WHY USE MONEY PAD?  Instant cleaning of funds.  Avoids insecure ways of carrying money.  Provides strong security.  Can be used by a common man. MoneyPad by Kalpesh Dusane 17
  18. 18. FIELDS OF APPLICATIONS  Applicable in e-banks and in any kind of e- transaction.  Useful to carry Digital cash.  Utilization of personal data in filling order forms.  Applicable in m-commerce transactions. MoneyPad by Kalpesh Dusane 18
  19. 19. 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. MoneyPad by Kalpesh Dusane 19
  20. 20. • International Journal of Information Technology and Treands, Vol. III, Issue I, Year 2012 , ISSN-0976 – 9706 • "A Global Overview Of Digital Wallet Technologies". University of Toronto. May 28, 2011. Retrieved March 23, 2013. • "Smart (phone) money" Financial Post. Retrieved May 1, 2011 Clark, Sarah. • "NTT Docomo to take Japanese mobile wallet global". NFC World. Retrieved March 23, 2013. Murphy, David. • "Dunhill Wallet Uses Biometrics". PC Magazine. Retrieved March 23, 2013. OLIVAREZ-GILES, Nathan (April 17, 2012). • "Sprint’s Galaxy Nexus: Can a Second Google Wallet Phone Ignite Mobile Payments?". Wired. Retrieved March 23, 2013. • "Dial M for money". The Economist. June 30, 2007. Retrieved March 23, 2013. "PayPass Adoption Study". MasterCard Advisors. Retrieved March 23, 2013. MoneyPad by Kalpesh Dusane 20
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