The document discusses the "Money Pad", a proposed future replacement for physical wallets. The Money Pad would store digital cash and financial information, updated wirelessly. It would eliminate the need for paper cash, coins, and cards. Transactions using the Money Pad and biometric fingerprint authentication would allow for secure, instant fund transfers. The Money Pad could revolutionize mobile commerce by facilitating remote digital payments.

1. MONEY PAD
-The future wallet
INTERNAL GUIDE- PRESENTED BY-
Mrs. S.L.SOWJANYA DEVI JAKERA PARVIN CHOUDHUDHURY
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2. 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.
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3. AGENDA
 Money pad
Comparison between smart card,
credit card & money pad
Design of money pad
 Operation of money pad
 Personal digital Assistance
 Biometrics Technology
 Finger Print Reader
 Float, Fiat money, specie
backed money
 Advantages & disadvantages
Applications
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4.  Credit Card :
Credit cards are payment devices that allow the consumer to
make purchases within guarantied limits as defined by the issuer of the
card.
Dis-advantages :
i. Instant clearing of fund is not possible.
ii. User is always under the pressure of limits on
iii. purchase defined by the issuer of the card and
iv. also every transaction involves certain charges.
v. Insecure transactions using fixed encryption.
vi. The card has to be renewed once it is expired.
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5.  Smart cards :
Common smart card chips typically holds about 8,000 bytes
of information.
Dis-advantages :
 Insecure transactions using fixed encryption.
 Risk of data loss due to chip failure.
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6. DESIGN
Operations of money pad:
 Design of the system :
 Process in request of money pad.
New user
Enter an e-book
Request for
money pad
Create new Creates the details of
account the new user and his
Database finger print record
Server
Money pad
is issued
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7. OPERATION OF MONEY PAD
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.
General information
of user Finger print Information collected in
Reader passed To the server for
verification.
Database
Server
Money pad
Unauthorize
d
Authorized
E-book Cannot access cash is e-
mail to owner’s account
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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.
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9.  Short for personal digital assistant, a handheld
device that combines computing, telephone/fax
Internet and networking features.
 This means that they also incorporated
handwriting recognition features. Some PDAs
can also react to voice input by using voice
recognition technologies..
 PDAs are also called palmtops, hand-held
computers and pocket computers.
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10.  Biometric Technology, Inc. staff has over 87 years of combined
experience in the design and implementation of biometric
systems and provides services to both users and vendors of
biometric identification systems.
 Biometrics technologies measure a particular set of a person's
vital statistics in order to determine identity.
 Types of Biometrics
1. Behavioral biometrics
2. Physical biometrics
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11.  Fingerprint recognition or fingerprint authentication refers
to the automated method of verifying a match between two
human fingerprints. Fingerprints are one of many forms of
biometrics used to identify individuals and verify their
identity. This article touches on two major classes of
algorithms (minutia and pattern) and four sensor designs
(optical, ultrasonic, passive capacitance, and active
capacitance).
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12.  float is duplicate money present in the banking
system during the time between a deposit being
made in the recipient's account and the money
being deducted from the sender's account. It
makes up the smallest part of the money supply.
 Float is also associated to the amount of
currency available to trade. Countries can
manipulate the worth of their currency by
restricting or expanding the amount of 'float'
available to trade.
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13.  Fiat money is money that derives its value from
government regulation or law. The term derives
from the Latin fiat, meaning "let it be done" or "it
shall be [money]
 Currency that a government has declared to be
legal tender, despite the fact that it has no
intrinsic value and is not backed by reserves.
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14.  Specie backed money is money distributed,
normally as paper money, that is assigned
value based on valuable minerals tied to the
paper money. The idea is that with specie
backed money, though the paper itself holds
no true value, it represents whatever mineral is
held in reserve, historically gold and silver.
Holders of the paper money could
theoretically exchange their bills for the gold
or silver that it represented.
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15. ADVANTAGES
 Highly secure
 No need to carry any physical wallet or cards.
 Can be used in remote area by using WPAN.
DISADVANTAGE
 Extra sensor is required
 no chances of accessing account in
emergency case also.
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16. 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.
 Can be used to carry out remote transactions
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.
 Utilization of personal data in filling order forms
The personal data stored in the money pad can be used to fill
order forms thus savings users time.
 Applicable in m-commerce transactions
It is applicable to any kinds of ecommerce transactions.
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17.  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.
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