Moneypad- the future wallet

Government Polytechnic Pune(An Autonomous Institute of Government of Maharashtra)

Seminar Presentation on

MONEY PAD Presented By Guided By

Prof. H. S. Pawar

Shubham S. Kolapkar

Contents Introduction Present System Architecture Technical Details Transaction using Money Pad Need of Money Pad Applications Advantages & Disadvantages Conclusion

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.

2.Present System

Credit Cards

Debit Cards

• Disadvantages of Credit card & Smart Card

Instant clearing of funds is not possible.

Limitations on the purchase by the issuer of card.

Transaction involves certain charges.

Card has to be renewed once it is expired.

3.Architecture

4.Technical Details

Money pad uses the Biometric Technology for money transactions.

Biometric technology is defined as automated methods of identifying or authenticating the identity of a living person based on unique physiological or behavioural characteristics.

• How It Works

1. Capture

2. Extraction

3. Comparison

4. Matching

5.Transaction Using Money Pad

6.Need Of Money Pad For Instant clearing of funds

To Avoids the insecure way of carrying money

To Provides strong security

To Avoids the nuisance of renewing

7.Applications Applicable in e-banks and in any kind of e-transactions.

Useful to carry Digital cash.

Utilization of personal data in filling order forms.

Applicable in m-commerce transaction.

Applicable in daily life.

• 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.

8.Advantages Highly secure

No need to carry physical wallet or cards.

Eliminates problem

Replace passwords

Instant clearings of funds

• Disadvantages

Extra sensor is required

There should at least one e-bank in city

9.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.

Any Queries ?