MONEY PAD - THE FUTURE WALLET

1. Money Pad – The Future Wallet
Name : LAMEES MOHAMMED ANEES
USN: 4BP19CS029
Year :2022-23
Under the guidance of Coordinator
Prof. JALALUDDEEN B.M
DEPT. OF CSE
Prof. NUBILA JALEEL
DEPT. OF CSE
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2. MONEY PAD
- THE FUTURE WALLET
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3. TABLE OF CONTENTS
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1. INTRODUCTION 7. WHY USE MONEY PAD
2. WHAT IS BIOMETRICS 8. TECHNOLOGY USED
3. LITERATURE SURVEY 9. FIELDS OF APPLICATION
4. CREDIT CARDS 10. FURTHER ENHANCEMENT
5. SMART CARDS 11. CONCLUSION
6. METHODOLOGY 12. REFERENCES

4. 1. INTRODUCTION
● Just as now everything that we use are using are under the shadow of “e”
today we have paper currency that is also being replaced by electronic
money or e- cash.
● The e-cash handling system is a device that facilitates secure currency
transactions. We call it as Money Pad which recognizes Finger Print’s of the
user and decides whether the user is a authorized person or not.
● Every time the user wants to access the Money Pad he has to make an
impression of his finger, which will be sensed and matched with the one in
the hard disk.
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5. 2. WHAT IS BIOMETRICS?
Biometric Technologies are defined as automated methods of identifying or
authenticating the identity of a living person based on unique physiological
or behavioral characteristics. Biometrics can provide very secure and
convenient authentication for an individual since they cannot be stolen or
forgotten and very difficult to forge.
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6. 3. LITERATURE SURVEY
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[1]. An Efficient Method for Securing
the e-payment System : Money Pad
In the emerging field of electronic commerce, novel buzzwords like
smart-card, online banking, digital cash and electronic cheques are
being used as money. But how are these brand called as the new
forms of a secure payment? And most importantly, which of these
newly emerging secure electronic money technologies will survive
into the next century? These are some of the tough questions that is to
answered but here’s a solution, that provide security to these modes of
currencies, and these modes of currencies are exchanged by using the
“Biometrics Technology”.
[2]. Role of e – banking services in the
banking sector
This research paid an attention through exploratory method to
recognize the issues acting as difficulties in the practice of the of
clientele on banking through technology. banking services offered
through internet and rework the acuity

7. 3. LITERATURE SURVEY(Contd..)
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[3]. Reasons for Non-Adoption of
Internet Banking: A Study with
Reference to Vellore District of Tamil
Nadu, India J. Ramola Premalatha1 &
N. Sundaram1
With the expansion of Internet usage, E -banking has
become one of the most revolutionized components of
today's economic growth. E-banking is a powerful value-
added tool to attract new customers and retain the existing
ones.

8. 4. CREDIT CARDS
Credit card is payment device that allow the consumer to make purchase within
guaranteed limit defined by the issuer of card. Processing of funds is done
electronically. The user insert he card into the card reader machine, the machine
asks secure information like password etc. for the verification of the user. After
providing the authentication the user is allowed to perform the transaction. As
credit card provides privacy and security it also has disadvantages:
● Clearing of funds instantly is not possible.
● Once the card is expired it has to be renewed.
● User has to pay additional charges to get the service from the bank thus it
always in under the pressure of limits
● Using fixed encryption transactions is insecure.
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9. 5. SMART CARDS
Smart cards have embedded with a microchip and it appears like a credit card, but it
store information and sometime even performs simple calculation. Payment value in
the form of currency value is stored in this chip and can be retrieved with specially
designed card reader. Common smartcard chips hold about 8,000 bytes of
information that can perform variety of functions. As credit card has disadvantages,
smart card also has disadvantages:
● Using fixed encryption transactions is insecure.
● Due to chip failure there is a risk of data loss.
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10. 6. METHODOLOGY
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Fig 1. Working of money pad
1. Money Pad
3. Database Server
2. Fingerprint
Information collected is passed to the
server for verification
4. Further Transaction
Authorized
Not Authorized
5. Message is sent to
owner’s account

11. 6. METHODOLOGY (Contd..)
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Identification
Fingerprint
sensor
Feature
Extraction
Database
Feature
Extraction
Matching
Fingerprint
sensor
ID number
Verification
output
Fig 2. Identifying and Verification process in Money Pad
along with Finger Print Record

12. 1. Money Pad
Money pad is secure medium of exchange for currency. It carries digital cash as paper cash will not
be there. Money pad contains biometric technology. It is similar to credit cards and smart cards just
like floppy disk. It consists of touch sensor and magnetic disk as its peripherals. Touch sensor
records the fingerprint of the user, and magnetic disk has read and write permission and also and
holds authentication details of user.
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6. METHODOLOGY (Contd..)
Fig 3. Operations on money pad

13. 2. HOW TO USE MONEY PAD
New User:
● With e-banking facility visit a nearby bank.
● With some balance create an account.
● Give important details along with fingerprints.
● Along with money pad user is given bank code and account number.
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6. METHODOLOGY (Contd..)

14. 3. Transaction using money pad
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6. METHODOLOGY (Contd..)
1. Money Pad 2. Fingerprint 3. Enter Bank Code
& Account number
4. Checks for authorization
5. If authorized allows further
transaction
6. If not authorized it will mailed
back to the owner’s account

15. 7. WHY USE MONEY PAD?
● Instant clearing of funds
● Avoids the Unsafe Way of Carrying
● Provide Strong Security
● Can be Meet by a Common
● Avoids the Issue of Renewing
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16. 8. TECHNOLOGY USED
● Biometrics comprises methods for uniquely recognizing human based upon
one or more intrinsic physical or behavioral traits.
● In Computer Science, biometrics is used as a form of identifying access
management and access control. It is also used to identify individuals in
groups that are under surveillance.
● Biometrics attempts to confirm an individuals claimed identity by comparing
a submitted sample to one or more previously enrolled templates.
● Closed set identification is the person known to exist in the database. Open
set identification is the person that is not existed in the database. System
determines if the person identification from the database.
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17. The accuracy of biometric system is measured in two ways:
● False Acceptance Rate – when an unauthorized subject is accepted as valid.
● False Rejection Rate – when an authorized subject is rejected by the
biometric system as unauthorized.
Biometric system contains fingerprint verification, which
authenticates whether the user is an authorized person or not. It has a glass plate
that involves the user to place his or her finger over it, which resides over a high-
resolution change coupled cameras. The image that is captured is compared to the
image in system database and decides the user authentication.
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8. TECHNOLOGY USED (Contd..)

18. 9. FIELD OF APPLICATIONS
● Applicable in any kind of e-banks and e-transaction.
● Can be used to carry out remote transaction.
● Useful to carry Digital Cash.
● Utilization of individual data in filling order forms
● Applicable in m-commerce transaction
● Applicable in daily life
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19. DEPARTMENT OF COMPUTER SCIENCE AND ENGINEERING 19
PROS CONS
Easy and fast
Portable
Flexible
Secured
Expensive
For security purpose it
uses fingerprint detection,
so if person’s finger gets
accidently cut or injured
the detection technique
will fail to match the
patterns.

20. 10. FURTHER ENHANCEMENT
● Understanding the disadvantage of the current working of money pad
that is the fingerprint scan, not so worthy for the disabled people.
● In the new version of Money Pad which is enhanced by me includes
retina scan instead of finger print.
● In current version finger print of the user is used in biometric system
and the disadvantage of it was that if the user doesn’t have the finger
so he/she can’t access the money pad.
● Now in the future the user that doesn’t have finger can also access
the money pad through retina scan.
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21. 11. CONCLUSION
● The following are three necessary requirements:
1. Instant clearing of funds.
2. Elimination of payment risk.
3. Using strong encryption there is a secure transaction.
● Since the money pad is able to satisfy the above requirements there will be no
doubt that in future it will be widely suggested for use.
● In future when the internet will capture the whole world. All the work will be
done through the internet then there will be no use of any card or pad, just a
small device which can detect the fingerprint will be attached at any place
throughout the world.
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22. 12. REFERENCES
1. An Efficient Method for Securing the e-payment System : Money Pad Swapnesh
Taterh1 1 Associate Professor, Amity Institute of Information Technology, Amity
University, Rajasthan, India. Email: staterh@jpr.amity.edu
2. Role of e – banking services in the banking sector, Ghobadian, A. (1994). ‘Service
quality
3. Reasons for Non-Adoption of Internet Banking: A Study with Reference to
Vellore District of Tamil Nadu, India J. Ramola Premalatha1 & N. Sundaram1
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23. THANK YOU !
Any queries?
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