e-Wallet – THE FUTURE OF CARDS Paper Presentation On e-Wallet – THE FUTURE OF CARDS

CONTENTS: INTRODUCTION DISADVANTAGES OF GENERAL CARDS WHAT IS E-WALLET? TRANSACTION PROCEDURE CARD DESIGNING OPERATION FEATURES ADVANTAGES CONCLUSION

INTRODUCTION: E-WALLET Includes Embedded systems, artificial intelligence, Bluetooth & many more are upcoming. This paper deals with ES with new perspectives. ES can be viewed as combination of hardware and software components, in which the software is implanted into the hardware to do specific job. Basic concepts of ES is an idea for changing the future of cards(banking, petro , health etc.,)is proposed in this paper.

DISADVANTAGES OF GENERAL CARDS Easy duplication. Requires special card readers. Networking problems. Vulnerable to moisture , heat & dirt etc.

WHAT IS A E-WALLET? The E-WALLET is also called as Electronic wallet it is just like a Leather wallet . The main object of E-Wallet is to make Paperless money transaction easier. In today's life where monitory value and security both, go hand in hand, it is difficult to satisfy the customers using the routine cards. The main Idea behind this paper is to bring in a cheaper ,more versatile and much more easily usable kind of a card.

TRANSACTION PROCEDURE The e-wallet card holder goes to point of sale location where it accepted. Having chosen the goods he wishes to buy, he goes to the cash desk. The merchant calculates the total value &enter into the payment terminal using a keypad. The terminal displays the amount on a small screen facing the card holder, who confirms the amount by pressing on ‘ok’ button. In less than a second the value is transferred from the e-wallet to the terminal, remaining value is adjusted(off -line transaction). A message is displayed to both the cardholder the merchant saying that the payment has been accepted.

CARD DESINING Application of specific integrated circuit: Electronic oriented products works on specified integrated circuit chips like cellular phones , washing machines. Following this global trend we are using FPGA . Field program gate array(FPGA): FPGA is widely used in all consumer electronic devices because of its low cost and better reliability. This can be divided into two types 1)Custom designed IC 2)general purpose IC Custom designed IC: This FPGA’s are developed by user specification from wafer level and final output is obtained. Internal architecture of FPGA: Embedded microcontroller: It has encryption algorithm and dedicated logic is used here for secured measures such as personal identification number(PIN).

Crypto coprocessor: It is having similar to Embedded microcontroller but it has ROM to store the password used. By using crypto coprocessor the password in encrypted and stored and it cannot be hacked by hackers. Random word generator: It generates a random word which replace the password in the buffers and other terminals with a random word after the transaction over .It is also impossible to replicate the behaviour of the ASIC. On chip security management. Flash ROM/ROM. EEPROM. RAM. Serial interface. RF interface. Internal 16 bit address/data bus.

OPERATION Once the card is given the power supply all the units are activated. The password is sought and the password is sent. The first bit is chip select then the start bit, two opcode bits, 6-address bits & 16 data bits The dedicated embedded microcontroller looks after this process. Then the given password is sent to the RAM work space. The password (original password) after decryption by the crypto processor is sent to the RAM. Here the passwords are compared by the microcontroller. Only if the both the passwords are correct, the access control unit brings the flash ROM, EEPROM units of low impedance state. Otherwise the units are kept in high impedance state.

If the password is correct, then the MC fetches the instruction set in the FLASH ROM. The balance amount can be fetched from the EEPROM,through the Do pin of the serial interface. Balance amount is stored in the EEPROM through D1 pin of the SI. Once the transaction is over, the random word generates a random word and sends it to the terminal ends and other buffers where the original password is present. This protects the original password from being hacked by hackers.

FEATURES REFILLABLE. INFINITY LIFE TIME. CURRENT BALANCE CAN BE STORED AND READ. UNIVERSAL ACCESS & MAXIMUM POSSIBLE CASH CANNOT BE DUPLICATED.

ADVANTAGES Easy of use: Accessability & Convenience: Flexibility: With draw or deposit value by telephone. No sign is required. Accessability & Convenience: Available 24 hours/365 days. Flexibility: Transfer value by telephone. Pay person to person. Safety & control: Spend only what you have. Lock your card or wallet.

CONCLUSION With all the above mentioned features it is definite that the future of cards is definitely e-Wallet’s. Besides credit cards, this e-Wallet can also be extended into the following fields, namely: Sim – card Petro – card Credit – card Health – card Intelligent web – surfing card Insurance – card Access – card ATM Televoice card These are only the few to mention. Due to its ease of adaptability to its environment, this e-Wallet would certainly change the way people transact (monetary transactions).

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