Moneypad- The future wallet
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Transcript of Moneypad- The future wallet
Government Polytechnic Pune(An Autonomous Institute of Government of Maharashtra)
Presenting
MONEY PADPresented By
Shubham Kolapkar
8149163269MONEY PAD BY SHUBHAM
KOLAPKAR
MONEY PAD BY SHUBHAM KOLAPKAR
Contents Introduction Present System Architecture Technical Details Transaction using Money Pad Applications Advantages & Disadvantages Conclusion
MONEY PAD BY SHUBHAM KOLAPKAR
1.Introduction Money Pad is a e-cash handling system that recognises Finger
Print’s of the user and decides weather the user is a authorised person or not.
MONEY PAD BY SHUBHAM KOLAPKAR
2.Present System
Credit Cards
Smart Cards
MONEY PAD BY SHUBHAM KOLAPKAR
• Disadvantages of Credit card & Smart Card
Risk of data loss due to chip failure.
Insecure transaction using fixed encryption.
Limitations on the purchase by the issuer of card.
Transaction involves certain charges.
Card has to be renewed once it is expired.
MONEY PAD BY SHUBHAM KOLAPKAR
3.Architecture
MONEY PAD BY SHUBHAM KOLAPKAR
• Structure of Money Pad
MONEY PAD BY SHUBHAM KOLAPKAR
4.Technical Details
Money pad uses the Biometric Technology for recognizing finger print of the user.
Biometric technology is defined as automated methods of identifying or authenticating the identity of a living person based on unique physiological or behavioural characteristics.
MONEY PAD BY SHUBHAM KOLAPKAR
Biometric identifiers are categorized as:-
Physiological Characteristics
Behavioral Characteristics
MONEY PAD BY SHUBHAM KOLAPKAR
• How It Works
1. Capture
2. Extraction
3. Comparison
4. Matching
MONEY PAD BY SHUBHAM KOLAPKAR
Money Pad Reader
MONEY PAD BY SHUBHAM KOLAPKAR
5.Transaction Using Money Pad
MONEY PAD BY SHUBHAM KOLAPKAR
• In Case of Accident
If any problem arrives the transmission means forward it to the Money Pad Management unit.
Then money pad management unit supplies temporary data.
The temporary data writes this to a memory of one of the temporary Money Pad devices stored in the medium storage means.
MONEY PAD BY SHUBHAM KOLAPKAR
6.Applications Applicable in e-banks.
Applicable in any kind of online transaction.
Useful to carry Digital cash.
Useful for digital cash transfer.
Applicable in daily life.
MONEY PAD BY SHUBHAM KOLAPKAR
7.Advantages Highly secure
No need to carry physical wallet
Replace passwords
Instant clearings of funds
MONEY PAD BY SHUBHAM KOLAPKAR
• Disadvantages
There should at least one e-bank in city
Unable to use for hard workers & old age person
MONEY PAD BY SHUBHAM KOLAPKAR
8.Conclusion The following three requirements are necessary i. Instant clearing of fundsii. Elimination of payment riskiii. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions, there is no doubt that in future it will be widely recommended for use.
MONEY PAD BY SHUBHAM KOLAPKAR
Any Queries ?
MONEY PAD BY SHUBHAM KOLAPKAR
Thank You...!!