28-08-2014, 12:07 PM
E-Wallet – THE FUTURE OF CARDS
[attachment=67226]
Abstract:
Using the basic concepts of Embedded Systems, an idea for changing the future of Cards (Banking, Petro, Health, Televoice, etc.) is proposed in this paper. Requirement of a special card reader, limited lifetime, acceptance being the main disadvantages of today’s traditional cards, led to the design of e-Wallet. The main objective of e-Wallet is to make paperless money transaction easier. The main idea behind this paper is to bring in a cheaper, more versatile and much more easily usable kind of a card. Using this e-Wallet the transaction procedure can be as simple as: the customer goes to the point of sale (POS), does the purchasing and when it comes to the payment, the customer submits his e-Wallet to vender.
who connects it to his terminal (PC).The vender displays the billing information to the customer who finalizes it. The amount in the e-Wallet is updated Wallet) being as low as the price of a pizza. There are ample enhancements to this application from credit cards to televoice cards. Unlike traditional cards which are application oriented, all the applications’ software can be embedded into this e-Wallet which accordingly. Later at periodic intervals, the vender intimates the bank (in case of credit cards) which transfers the amount from the customer’(s) account to his. The advantages of e-Wallet are its ease of use (doesn’t require a separate card reader), ease of maintenance, flexibility, safety, being the primary ones. The designing of the card is similar to any other embedded card. The designing cost of the card (e- provides multi-functionality.
[attachment=67226]
Abstract:
Using the basic concepts of Embedded Systems, an idea for changing the future of Cards (Banking, Petro, Health, Televoice, etc.) is proposed in this paper. Requirement of a special card reader, limited lifetime, acceptance being the main disadvantages of today’s traditional cards, led to the design of e-Wallet. The main objective of e-Wallet is to make paperless money transaction easier. The main idea behind this paper is to bring in a cheaper, more versatile and much more easily usable kind of a card. Using this e-Wallet the transaction procedure can be as simple as: the customer goes to the point of sale (POS), does the purchasing and when it comes to the payment, the customer submits his e-Wallet to vender.
who connects it to his terminal (PC).The vender displays the billing information to the customer who finalizes it. The amount in the e-Wallet is updated Wallet) being as low as the price of a pizza. There are ample enhancements to this application from credit cards to televoice cards. Unlike traditional cards which are application oriented, all the applications’ software can be embedded into this e-Wallet which accordingly. Later at periodic intervals, the vender intimates the bank (in case of credit cards) which transfers the amount from the customer’(s) account to his. The advantages of e-Wallet are its ease of use (doesn’t require a separate card reader), ease of maintenance, flexibility, safety, being the primary ones. The designing of the card is similar to any other embedded card. The designing cost of the card (e- provides multi-functionality.