SMART E-CASH CARD
ABSTRACT:
Everybody’s life is significantly influenced by money. Even technology coexists with other things. Carrying cash in wallets anytime we go out has become archaic and obsolete in this day of growing technology. Despite the availability of credit and debit cards, carrying cash is sometimes necessary. Since ancient times, there have been numerous changes in the form of money, from only coins to coins and notes to cards. It is a given that money will appear in a new form in the ensuing ages. The safety of money has always been a problem, despite the fact that it has assumed many different forms. We introduced the idea of “Digi-cash” to safeguard money while also facilitating ordinary transactions., which are accessible using a smart card (we named it E-Cash).
Keywords: digital cash, debit/ credit cards, e-cash
INTRODUCTION:
People no longer utilize paper money in major cities like Bangalore, Mumbai, etc. They conduct transactions using smart cards. E-cards are among the best ideas. It is nothing more than a card with a biometric sensor that verifies the original user’s fingerprint. It offers simple and flexible transaction alternatives so a user may carry out daily tasks without taking any risks whenever necessary. The card can be used without the use of any additional hardware.
To apply for this e-card, the user must first get in touch with their bank. The bank will save the applicant’s fingerprint along with the other necessary information after the application. The user is allowed to use the card for the transaction once the user data has been stored. For direct bank-to-bank transactions, the card will be designed to resemble a tiny mobile phone. Through the card in the card itself, the user can transfer or receive money.
Bluetooth connectivity, stand-alone applications, the cloud (database), touchscreen capabilities, and a smart chip are the fundamental technologies needed.
The registered mobile number is connected through Bluetooth to the smart card, allowing the smart card to access the account information with the registered number.
Utilizing a standalone application allows the smart card to operate within the required distance without the need for a mobile device, as well as working independently of the internet and other applications. A cloud (database) is used to store the user’s transactional information for future use.
The smart card can be used effectively and without any issues thanks to touchscreen functionality, which also makes it simpler for the user to conduct transactions in any setting and under any circumstance.
The user’s bank information is placed into the smart chip and utilized for transactions and checking the balance.
METHODOLOGIES
Biometric Sensors:
An alternative paradigm for personal authentication is offered by biometrics, which posits that each individual may be uniquely identified based on their biological traits. The automatic identification of a person using a behavioral or physiological feature is called biometrics. Every authentication system requires the user to complete the next two security procedures before they may utilize a service.
a. User digital identity authentication.
b. Being given permission to carry out the desired action.
The authentication of the user’s digital identity is classified into three following approaches.
a. Something that one knows b. Something that one has
c. Something that one is
The first and second approaches are used by the more widespread authentication systems to implement user recognition. Simple theft of the token or knowledge of the password is all it takes to breach these kinds of systems. These two methods necessitate that the user retains or carries along “something” that contains the information required for the authentication.
For our research, we will employ the fingerprint sensor, one of several biometric sensors.
FingerPrint:
A fingerprint is a friction ridge impression made by a human finger. On surfaces like polished stone, metal, or glass, they are simply deposited. Human fingerprints are the ideal long-term makers of human identity because they are intricate and distinctive, challenging to alter and remain constant over the course of an individual’s life.
How a fingerprint scanner works:
The most crucial stage of an automated fingerprint authentication system is fingerprint image acquisition. A live scan is a fingerprint sensor that takes a digital image of the fingerprint pattern. To create a unique biometric template that is stored and utilized for matching, the live scan is digitally processed.
We are using ultrasonic scanners, the most recent fingerprint technology utilized in smartphones, to strive for a superior outcome. The gear used in this instance consists of an ultrasonic transmitter and receiver for acquiring fingerprint details. On the finger that is placed on the scanner, an ultrasonic pulse is transmitted. Longer scanning times allow for the gathering of more depth information, which produces a 3D replica of the scanned fingerprint that is more accurate and detailed.
Bluetooth Technology:
We’re planning to employ Bluetooth technology to link our mobile phone with e-cash.
The basic premise of Bluetooth is the transmission and reception of data via radio waves. Every Bluetooth-enabled device contains a Bluetooth Adapter, which resembles a card. A Bluetooth adapter has a specific connection range.
Standalone Technology:
We used standalone technology to make effective use of the e-cash without mobile use.
A program that runs locally on the device and is self-contained is referred to as a standalone application. The program contains all of the logic, so neither an internet connection nor any additional services need to be installed. The device has the ability to locally store all of the data. The app can run without being connected to the internet.
as technology advances over time. Therefore, standalone desktop apps are developed using the electron platform.
Cloud computing: This technology uses the internet to store and manage data on remote servers, and then allows users to access that data online. It is used to store data (of transactional nature).
Each e-cash card will be associated with the provided mobile number for the bank account, allowing for the storage of every transaction made using the registered mobile number. This can limit the amount of corruption.
Existing systems:
Traditional cash:
About twenty-six percent of the world still uses cash for transactions Advantages:
1. Instant money in hand, except for taxes
2. There are no transaction fees with cash like there are with credit cards 3. Minimizes bookkeeping, which means less stress and less hassle.
Disadvantages:
-
- High chances of robbery.
- Frequent reps to the bank for the deposits must be made, which takes time and money.
Smart-card:
A smart card is a physical card that has an embedded integrated chip that acts as a security token. The chip on the smart card can be either microcontroller or an embedded memory chip. Smart cards are designed to be tamper-resistant and use encryption to provide protection for in-memory information. Those cards with microcontroller chips can perform on-card processing functions and can manipulate information in the chip’s memory.
Smart cards are used for a variety of applications, though most commonly used for credit cards and other payment cards.
Types of smart cards:
1. Contact smart cards
2. Contactless smart cards
3. Dual-interface cards
4. Hybrid smart cards
5. Memory smart cards
6. Microprocessor smart cards
Advantages :
1. People can spend money at any location and boosts sales
2. Accepting credit/debit cards increases cash flow.
3. Transactions are directly deposited directly to the bank account, no need to head to the bank.
Disadvantages:
1. Credit/debit can add another level of difficulty to bookkeeping
2. Accepting cards can add monthly expenses.
3. Cards do come with risks such as chargebacks and fraud.
4. Refunds on cards are not immediate. Many steps are involved in issuing refunds.
Proposed system:
Implementation:
Step 1: card registration
The user has to request the bank for enabling or to get an e-cash card from the bank, at the same has to register his fingerprint with the bank officials, then he is allowed to access the card.
Step 2: card transaction
Method-1
The transaction enabler must have a smart-chip reader in order to read the chip and retrieve card information. The user can then transact by inputting the pin or by validating with their fingerprint to continue the transaction.
Method-2
It is a direct bank-to-bank transaction, meaning that every detail is visible on the smart card screen. When a user needs to transfer money, he or she selects the transfer option and must first enter the recipient’s information. After entering a pin or providing a fingerprint for verification, the user can then transfer the funds to the beneficiary. Without complexity, all of this can be accomplished with just one card.
Use Case Diagram for using E-cash card
Conclusion:
Everything is at your fingertips in the ultra-modern, high-tech era. Despite having instant access to everything, the 21st century still belongs to the generation that uses currency. a step towards a cashless society that makes use of e-cash smart cards to make transactions quick and easy for regular people. Everything will be paid for with electronic funds in the next years, rendering obsolete the use of cash, credit/debit cards, and ATMs. With the help of our device, any transaction may be completed with a single touch and an e-cash card.
Future work:
By combining face recognition with a pin system, two-step authentication allows users to transact safely.
With a registered number, the cloud can be used to improve the storage approach and save user information without the need for bank participation.
The same camera can be used to scan QR codes and conduct transactions without a card reader, eliminating the need for a smart chip reader as it will be inserted for facial recognition.
Blockchain technology can be used to solve security issues by virtually preventing hackers from tracking user information. Because the user and bank will be connected via peers, the card’s security will be strengthened.
References:
- Stand-alone references – IBM
- Bluetooth technology references – IEEE https://ieeexplore.ieee.org/abstract/document/935183
- Biometric-based atm card – IEEE https://ieeexplore.ieee.org/abstract/document/9214287
- Smart atm card – IEEE https://ieeexplore.ieee.org/abstract/document/7830093
- Handbook of cloud computing by Borko Furht, Armando Escalante
- A mobile display driver IC embedding a capacitive touch screen control system https://ieeexplore.ieee.org/abstract/document/5434080
- Working with google pay/phone pay – https://en.wikipedia.org/wiki/Google_Pay
- “Google is combining Android Pay and Google Wallet into one service called Google Pay”. The Verge. Archived from the original on February 21, 2018. Retrieved February 20, 2018.
- “Pay with your smartwatch”. Google Pay Help. Google. Retrieved July 8, 2020.