E-Wallet card concept of Axis Bank

2. ABSTRACT
● Using the basic concept of
embedded systems, an idea
for changing the future of
cards (banking,health,petro
etc).
● Requirement of special card
reader,limited lifetime,
acceptance being the main
disadvantages of today's
traditional cards, led to the
design of e-wallet card.
● The main objective of e-
wallet card is to make
transaction paperless.

3. PROS AND CONS OF TODAY'S
CARDS
BASIC ADVANTAGES:
● Ease of mobility
● Ease of use
● DISADVANTAGES
● Easy duplication
● Requires a special card reader
● Networking problem
● Limited acceptibility

4. E-wallet Card or Virtual credit
card
-e-Wallet Card is an
electronic card which
works like a credit or
a debit card for
making secure online
payments towards a
merchant. It can be
created by all Axis
Bank internet banking
customers and also

5. FEATURES
● No need to give your original credit card or debit card
number when shopping online.
● Have the option of setting the limit of a minimum of Rs. 10
to a maximum of Rs. 50,000 in a single card depending
upon your usage per card.
● Valid only for the 48 hours of creation and hence the
chances of misuse is minimized.
● e-Wallet card can be used only for a single transaction.
Once used, the card gets blocked and can’t be used
again.
● e-Wallet card is accepted by all the merchants who accept
Visa cards online.

6. TRANSACTION PROCEDURE
● The terminal sends a messge for each
transaction to the e-wallet host
system,identifying the card number,issuer and
the amount. The host debit the float account of
the issuer and credit the merchant's account.
This typically takes place a few seconds per
transaction.
● Merchants can program their to automatically
do collections every day, week or month, or
when a specified value of transactions is
reached.

9. HOW TO USE IT
● For using the e-Wallet Card you will need to
have a Axis Bank Account with a proper debit
card and an internet banking login and
password. Once you have logged into your
Axis Bank Netbanking account just select the e-
Wallet Cards menu and create a new ewallet
card and set the limit of that card. The amount
will be transferred from your account. And after
that set a Verify By Visa Password for that
particular e-Wallet card. Finally enter the
transaction password and netsecure code to
confirm your creation of e wallet card.

10. After creating your Axis e-Wallet Card then visit
the online web portal or online shopping site
that you wish to shop and use your card for
purchase. Just select the products and go
through all the formalities and reach the
shopping cart where it asks for the card
information. Just enter the 16 digit e-wallet
card number, expiry date, name and finally the
CVV2 number. And finally enter the Verify By
Visa (VBV) password to confirm your order and
that’s it, you are done with your online shopping
using your one of the most secure and safe
card to use online.

11. ADVANTAGES
● Ease of use
● Accessibility and convenience
● Flexibility
● Safety and control
DISADVANTAGE
● User must download the wallet form and
software.

12. CONCLUSION
● With all the above mentioned features it is
definite that the future of cards is definitely e-
wallet.
● Beside credit cards,e-wallet can also be
extended into following fields, namely
● Sim-card
● Petro-card
● Credit-card
● health-card