CHAMELI DEVI SCHOOL OF

ENGINEERING
SEMINAR ON : MONEY PAD, THE FUTURE WALLET

SUBMITTED TO: SUBMITTED BY:

PROF.JASWANT MANDLOI ASHITA JAIN
COMPUTER SCIENCE DEPARTMENT 0832CS091027
 Table Of Contents
Abstract
Key words
Introduction
Technical Details
How To Use Money Pad?
Why Use Money Pad?
Fields Of Application
Conclusion
Acknowledgement
 ABSTARCT
Just as fiat money replaced specie-backed paper currencies,
electronically initiated debits and credits will become the
dominant payment modes, creating the potential for private
money to compete with government-issued currencies.
 Just as every thing is getting under the shadow of “e” today
we have paper currency being replaced by electronic money
or e-cash.
 The Money Pad introduced here uses the biometrics
technology for Finger Print recognition. 
Thus providing a form of security to the ever-lasting
transaction currency of the future“e-cas h”
 KEY WORDS
1. MONEY PAD - A form of credit card or smart card similar to floppy
disk, which is introduced to provide, secure e-cash transactions.

2. DIGITAL MONEY OR e-CASH -  they refer to any of the various

methods that allow a person to purchase goods or services by
transmitting anumber from one Computer to another

3.  BIOMETRICS TECHNOLOGY - Technology used to accurately identify

and verify an individual’s identity.

4. FINGER PRINT READER – A machine with read/write head capable of

reading the information stored in the Money Pad.

5. FLOAT – The transaction in terms of digi-cash, which takes zero-

sumgain, is called float
 
 INTRODUCTION
  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.
 There is nothing inherent in the technology that makes it less protective
of privacy and individual rights. Advancement’s likeBiometrics
Technology has made individual privacy even more secure.
 The e-cash handling system is a device that facilitates secure currency
transactions. We call it as Money Pad which recognises Finger Print’s of
the user and decides weather the user is a authorised person or not.
  Every time the user wants to access the Money Pad he has to make an
impression of his finger, which will
be sensed and matched with the one in the hard disk.

TECHNICAL DETAILS
 Basic Of The Present System:
1.Credit Card

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”.

 Money pad is one such medium of exchange, which aims to provide

secure means of currency exchange. It’s a means that carries
digital cash,as paper cash is going to extinct. “In order to use
this money pad it is necessary to have at least one e-bank in
every city”.
 Money pad is a biometric system similar to a credit card or a smart
card just like a floppy disk. It consists of a touch
sensor and magnetic disk as its peripherals .
 Touch sensor is used to record the fingerprint of the user. Magnetic
disk, which has the read and write permission is used to hold the
authentication details of the user, bank code as well as digi-cash.
The bank code and account number of the owner of this money pad
is present on the label.
How To Use 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

NOTE : The Money Pad consists of stored

information like account number, bank code (from
where he has purchased this money pad)
and his fingerprint.
Transaction Using Money Pad :
1.Place your finger on the touch sensor & then
on the finger print reader.
2.Enter bank code & account number to enter
into e-bank services.
3. If a finger print match occurs the reader
knows that he is a authorised user and
allows for further transactions.
If not then the reader comes to know that the
user is unauthorised and a provision can be
made so that the digicash present in the
Money Pad is e-mailed back to the
authorised accountholder using theuser
details present in the Money Pad.
 WHY USE MONEY PAD?
Instant cleaning of funds.
Avoids insecure ways of carrying money.
Provides strong security.
Can be used by a common man.
Avoids nuisance of renewing.
FIELDS OF APPLICATIONS
Applicable in e-banks  and in any kind of e-
transaction.
 Can be used to carry out remote
transactions.
Useful to carry Digital cash.
 Utilization of personal data in filling order
forms.
 Applicable in m-commerce transactions.
Applicable in daily life.
 CONCLUSION
For a digital currency system to attain widespread recognition
and use the
following three requirements are necessary:
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions
there is no doubt that in near future it will be widely
recommended for use.

Once the Money Pad is implemented it has a wide scope.

Though at
present we may use finger print reader to access the digi-
cash in the near future the device can be automated into
Mobile phone, Watches, Hand held devises, as well as WAP
devices. 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 recognise the finger print can be attached
at any place throughout the world. Thus requiring no device
to carry money, just a man is required to access digi-cash
and proving “Man As Money”. At last since Thumb
Impression is going to provide a strong base for security in
the future we can predict that “History Repeats”
 ACKNOWLEDGEMENT
The satisfaction and euphoria that accompanies the successful
completion of any task, would be incomplete without the
mention of the people who made it possible, whose constant
guidance, support and encouragement crown all the efforts
with success.

I wish to express my sincere gratitude to Dr. CNS Murthy,

Dean,
CDSE and Prof. P. Lakkadwala, H. O. D Computer Science
Department for their kind permission to utilise the resources
of the department. My sincere thanks & Prof. Jaswant Mandloi,
Lecturer, Computer Science Department, for having consented
to be the guide, and for his valuable guidance and support
during the preparation of this presentation. Last but not the
least I would like to thank my family and friends who have
been a constant source of inspiration.