e-wallet (The future of cards)

Presented by B.Rushendra Kumar (07BP1A0440)

Introduction :
With the advent of computers many technologies are taking

this world by a surprise. These include Embedded Systems (ES), Artificial Intelligence (AI), Neural Networks (NN), Fuzzy Logic, Bluetooth and many more are upcoming. This topic deals with Embedded Systems in a new perspective.
Using the basic concept of ES, an idea for changing the future

of Cards (Banking, Petro, Health etc.) is proposed in this topic. To interpret this idea, it is first needed to know the advantages & disadvantages of todays traditional cards.

Traditional cards:
Advantages : Ease of Mobility Ease of use Disadvantages: Easy duplication No memory to hold the current balance Limited lifetime Limited acceptance And the list goes on.

Smart card technology:

Keeping those advantages & disadvantages in view, the

Smart Technology is introduced to develop a new class of cards. This stream of Smart Technology can be termed as Smart Card Technology (SCT). This smart card has a microprocessor or memory chip embedded in it that, when coupled with a reader, has the processing power to serve many different applications. Such cards can be referred to as e-Wallet (electronic Wallet).

About e-Wallet:
The main objective of e-Wallet is to

make paperless money transaction easier. The electronic wallet (eWallet) is just like a leather wallet as it does the same, in terms of e-cash. In todays life where monetary value and security both, go hand in hand, it is difficult to satisfy customers using the routine cards. The main idea behind this topic is to bring in a cheaper, more versatile and much more easily usable kind of a card.

Salient features of e-Wallet:

More than 40 years of Polarity reversal indicator

data retention Firewall encrypted security logic Compatible with many supporting hardware. No separate card reader is required to access our card

is pre-built in our card. Reusability of our card is unlimited. Multiple card features are incorporated in the same card. External complexities are less

Card Designing:
Application Specific Integrated Circuit:

Most of the home friendly electronic oriented products works on custom specified integrated circuit chips like electric oven, cellular phones, washing machines etc. Following this global trend we are using FIELD PROGRAMABLE GATE ARRAY (FPGA) belonging to the family of APPLICATION SPECIFIC INTEGRATED CIRCUIT

Internal Architecture of FPGA:

Internal blocks of FPGA IC are: Embedded micro controller Crypto coprocessor Random Word Generator On chip security power management Access control
Flash ROM/ROM EEPROM RAM Serial interface RF Interface Internal 16 bit

address/data bus

Features of e-Wallet:
Refillable Infinite lifetime Current balance can be stored and read User authentication is provided Universal access Maximum possible cash Cannot be duplicated

Advantages of e-Wallet:
Ease of use: Withdraw or deposit value by telephone No signature required Immediate payment In the future, access points may include mobile phones Accessibility and convenience: Cash machines and telephones give more access points to funds in bank account Available 24 hours / 365 days Cash machines and telephones cannot run out of electronic cash Flexibility: Transfer value by telephone Pay person to person For low or high values Multi-currency capability No age limit, so suitable for all the family Safety and control: Spend only what you have Read your balance Load value at home Lock your card or wallet Keep track of what you have spent and where Customer is traceable if a lost card is found

Conclusion:
With all the above mentioned features it is definite that the future of cards is definitely e-Wallets. Besides credit cards, this e-Wallet can also be extended into the following fields, namely: Sim card *Petro card Credit card *Health card Insurance card *Access card ATM *Tele voicecard 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).