The document discusses digital wallets, which allow users to make electronic payments by storing virtual versions of payment cards on their mobile phones. A digital wallet works by securely storing users' payment information and card details within a software component on their device. It aims to simplify online and in-person payments by automatically filling in payment details during transactions. The digital wallet offers advantages like consolidating multiple payment and loyalty cards in one place and helping users maximize rewards earned from purchases. However, challenges remain around securely storing digital cash and ensuring digital wallet systems are fast, easy to use, and accurate.

1. Digital Wallet Guided By: Ms. Madhusmita Sahu Dept. of Information Technology

3. What is a Digital Wallet?

4. How it works.

5. Characteristics

6. Peer to Peer Payments

7. Point of Sale TransactionsFriday, October 14, 2011 2 © Gyana Ranjan Swain

8. Vision In the past few thousand years, the way we pay has changed just three times—from coins, to paper money, to plastic cards. Now we’re on the brink of the next big shift. We now want to introduce the digital wallet, which contains the virtual versions of our existing plastic cards. Friday, October 14, 2011 3 © Gyana Ranjan Swain

10. Mobile phones can serve the purpose.Friday, October 14, 2011 4 © Gyana Ranjan Swain

12. How it works. Friday, October 14, 2011 6 © Gyana Ranjan Swain

13. Characteristics Extensible. Client-Driven. Symmetric. Generalized. Secured. Friday, October 14, 2011 7 © Gyana Ranjan Swain

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18. Passive RFID Tags.

19. Wireless Reader.

20. The Secure Elements.Friday, October 14, 2011 11 © Gyana Ranjan Swain

22. Advantages for e-commerce sites Upwards of 25% of online shoppers abandon their order due to frustration in filling in forms. (Graphic Arts Monthly, 1999) The digital wallet combats this problem by giving users the option to transfer their information securely and accurately. This simplified approach to completing transactions results in better usability and ultimately more utility for the customer. Friday, October 14, 2011 13 © Gyana Ranjan Swain

23. Digital Wallet vs. Real Wallet We can have two scenarios, Peer-to-Peer Mobile Payments. Point of sale card overload. Friday, October 14, 2011 14 © Gyana Ranjan Swain

24. Peer to peer mobile payments • Network access is not ubiquitous – Tunnels, underground, rain etc.• Infrastructure is expensive – Small operators will not pay for it• Infrastructure solutions are a dime a dozen. – No peer-to-peer solution yet! Friday, October 14, 2011 15 © Gyana Ranjan Swain

25. Technical Challenges • How do you store cash in a phone?– Digital cash requires a lot of support• How do you make it a secure process?– Any bugs in security dooms the entire thing.• How do you make it fast and usable?– Cash Is trivial to use – This is replacing cash! Friday, October 14, 2011 16 © Gyana Ranjan Swain

26. Success Criteria • Fast• Easy to Use• Accurate• Low Cognitive Load• Secure Friday, October 14, 2011 17 © Gyana Ranjan Swain

27. Point of sale card overload At the checkout counter at Best buy we have to choose the right combination to maximize our profit. Case Study: Suppose we have X products from Y departments totaling Z Rupees. And also have α payment cards, β reward cards or loyalty cards. Friday, October 14, 2011 18 © Gyana Ranjan Swain

28. Current Solutions • Guess• Pick a decent “good enough” solution – Not maximal• Perform detailed analysis – Fragile to change – Time consuming – Hard (Not novice friendly!) Friday, October 14, 2011 19 © Gyana Ranjan Swain

29. Digital Wallet’s Solution • Store all your card details in your phone• Place phone on reader at store• System matches store discounts with cards your have• Best results are displayed on a LCD display• Pick best option• Profit!!! Friday, October 14, 2011 20 © Gyana Ranjan Swain

30. What Users say.. ! – Speedy – Accurate–User Friendly – User need not have to keep any information. • Yes! U heard me right. Friday, October 14, 2011 21 © Gyana Ranjan Swain

31. Conclusion… Friday, October 14, 2011 22 © Gyana Ranjan Swain

32. References http://en.wikipedia.org/wiki/Digital_wallet http://www.webopedia.com/TERM/D/digital_wallet.html http://www.luminous-landscape.com/reviews/digital_wallet.shtml http://ecommerce.hostip.info/pages/330/Digital-Wallet-Technology.html http://www.guardian.co.uk/business/2011/may/26/google-unveils-digital-wallet/print http://www.technologyreview.in/printer_friendly_article.aspx?id=17355 http://www.ibtimes.com/art/services/print.php?articleid=154532 http://propid.ischool.utoronto.ca/digiwallet_overview/ http://www.google.com/wallet/how-it-works.html http://www.yuvaengineers.com/?p=275 http://readatech.com/2011/04/07/nfc-the-technology-that-redefines-contact-3580/ Friday, October 14, 2011 23 © Gyana Ranjan Swain

33. ANY QUESTIONS ?? Friday, October 14, 2011 24 © Gyana Ranjan Swain