moneypadthefuturewallet

1. A seminar report
on
Money-Pad
By –Leelakh Sachdev

2. MONEY PAD
The Future Wallet

3. 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.

4. Credit cards
disadvantages
• Instant clearing of funds is not possible .
• User is always under the pressure of limits
on purchase defined by the issuer of the card
and also every transaction involves certain
Charges.
• Insecure transactions using fixed encryption.
• The card has to be renewed once it is
expired.

5. • Insecure transactions
using fixedencryption.
• Risk of data loss due
to chip failure.
Smart cards
disadvantages

6. Operations of money pad
Process in request of money pad.
New user
Request for
money pad
Create for
new account
Money pad is
issued
Database server
Enter an e-book
Creates the details of the
new user and his finger
print record

7. 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.
Finger print
reader
Money pad
Database server
E-
book
Cannot access cash is emailed to
owner’s account
General info. Of users
Info.collected in passed to
the server for verification
Authorised
Unauthorised

8. 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.

9. Applications of money pad
• Applicable in e-banks and in any kind of e-transactions.
• The 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.
• 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.
• It is applicable to any kinds of ecommerce transactions.

10. Applicable in daily life.
• It is useful in shopping,
identification, telephone
services and licenses . It is
applicable in daily life.

11. Conclusions
• The following three requirements are necessary;
1. Instant clearing of funds
2. Elimination of payment risk
3. 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.

12. Thank you
Any Queries