forthcoming centuries will not be
“cashless”, but the currency will indeed be
“paperless”. Thus money in the forthcoming
centuries will be different from the money of
the current century.
as everything is getting under the
shadow of “e” today, the paper currency and
cheques are being substituted by credit
cards, smart cards and e-cash.
wallet of the future will hold less paper
cash and coins.
will hold instead “MONEY PAD”, containing
digital cash and other financial information
updated automatically by a PDA.
advancements in electronic money gather
pace, we need a secure transaction system.
like “Biometrics Technology”
provide a form of security to the transactions.
technology is used to develop an e-cash
handling system similar to credit cards and
system, called as Money Pad, recognizes
the finger prints of the user and decides
whether the user is an authorized person or
means “life measurement” but
the term is associated with the use of unique
physiological and behavioral characteristics
for uniquely recognizing an individual.
1. E-CASH: cash stored electronically and used
to make online electronic payments.
2. HAND CASH: cash paid in the form of notes
known as digital wallet.
just like a physical wallet
as a method for storing various forms
of electronic money.
internet users with a convenient way
to store and use online shopping information.
track of our billing and shipping
information so that it can be entered with one
click at participating sites.
include Visa e-wallets, MBNA ewallets etc.
of the present system
made today in all of the world’s
banking systems are handled electronically
through a series of interbank computer
Cards and Smartcards are used to
devices that allow the customer to
make purchases within certain guaranteed
limits defined by the issuer of the card.
clearing of funds is not possible.
is always under the pressure of limits on
purchase defined by the issuer of the card
and also every transaction involves certain
Insecure transactions using fixed encryption.
card has to be renewed once it gets
a credit card except that it has a
microchip embedded within it.
Microchip stores information and performs
transactions using fixed encryption.
of data loss due to chip failure.
is a plastic card that provides the card
holder electronic access to his/her bank
be used an alternative payment method
to cash when making purchases.
over come the above drawbacks of credit
cards and smart cards, we present a medium
of exchange to carry digital cash wherever
man wants, which we name as “Money Pad”.
pad is one such medium of exchange
which aims to provide
secure means of
pad is a biometric system ,similar to a
credit card or a smart card, just like a floppy
It consists of a touch sensor and magnetic
disk as its peripherals .
sensor is used to record the fingerprint
of the user while the magnetic disk, which
has the read and write permission, is used to
hold the authentication details of the
user, bank code as well as digital-cash.
1.Visit a nearby bank with e-banking facility.
2.Create an account with some balance.
3.Give necessary details along with finger
prints which are stored in base server.
4.User is given bank code & account number
along with money pad
The Money Pad consists of stored information
like account number, bank code and the
user’s finger print.
Process of issuing money pad:
Enter an e-bank
Creates the details
of the new user and
his finger print
Money pad is
USING MONEY PAD:
1.Place your finger on the touch sensor & then
on the finger print reader.
2.Enter bank code & account number to enter
into e-bank services.
3.If a finger print match occurs, the reader
knows that he/she is an authorized user and
allows for further transactions.
USING MONEY PAD(CONTD…)
4.If not then the reader comes to know that the
user is unauthorized and a provision can be
made so that the digital-cash present in the
money pad is e-mailed back to the
authorized account holder using the user
details present in the money pad.
Transaction using money pad:
Info . collected in passed to the
server for verification
Cannot access: cash is emailed to
cleaning of funds.
the insecure ways of carrying money.
be used by a common man.
nuisance of renewing.
The accuracy of any biometric system is
measured in two ways:
1.False Acceptance Rate – where an impostor is
accepted as a match.
2.False Rejection Rate – where a legitimate
match is denied access.
the automated method of verifying a match
between two human fingerprints.
is a biometric system, which authenticates
whether the user is an authorized person or
involves the user placing his finger over a
glass plate, which presides over a highresolution change coupled camera.
image captured is compared to that in
the systems database and decides the user
finger print reader can be used for this
in e-banks and in any kind of etransaction.
be used to carry out remote transactions.
to carry Digital cash.
in m-commerce transactions.
in daily life.
a digital currency system to attain
following three requirements are necessary:
1. Instant clearing of funds
2.Elimination of payment risk
3.Secure transaction using strong encryption.
the Money Pad aims to satisfy the above
conditions there is no doubt that in near
future it will be widely recommended for use.
at present we may use finger print
reader to access the digital-cash, in the near
future the device can be automated into
mobile phones, watches, hand held devices
as well as WAP devices.