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ENGINEERING
SEMINAR ON : MONEY PAD, THE FUTURE WALLET
Disadvantages-
1. Instant clearing of funds is not possible .
2.User is always under the pressure of limits on
purchase defined by the issuer of the card and
also every transaction involves certain
Charges.
3.Insecure transactions using fixed encryption.
4.The card has to be renewed once it is expired.
2. Smart Card
Disadvantaged:
1.Insecure transactions using fixed
encryption.
2. Risk of data loss due to chip failure.
3. New Approach
To over come the above drawbacks of credit cards and smart cards
here we present
a medium of exchange to carry digital cash wherever man wants,
which we name as “Money Pad”.
New User :
1.Visit a nearby bank with e-banking facility.
2.Create an account with some balance.
3.Give necessary details along with finger prints.
4.User is given bank code & account number along
with money pad