e-wallet (The future of cards)

Vikram Dahiya

INTRODUCTION

What are Traditional cards??????

Advantages : Ease of Mobility Ease of useDisadvantages: Easy duplication No memory to hold the current

balance Limited lifetime Limited acceptanceAnd the list goes on………….

About e-Wallet:

The electronic wallet (e-Wallet) is just like a leather wallet as it does the same, in terms of e-cash.

Salient features of e-Wallet:More than 40 years of

data retentionFirewall encrypted

security logicCompatible with many

supporting hardware.No separate card reader is

required to access our card

Polarity reversal indicator 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

Example for transaction:

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 Accessibility and convenience Flexibility Safety and control

e-Wallet is supported on the following platforms:

Windows® PC running Windows 7, Vista, or XP.

Apple® iPhone®, iPad™ and iPod® touch, 3.0 and higher.

RIM® BlackBerry® 4.2 and higher.

Windows Mobile® 6 and Windows Mobile 6.1 and 6.5 Classic, Standard

(non-touch) and

Professional (touch). Windows Mobile 6.5 devices are also known as

Windows phones.

NFC or Near Field Communication is a short range high frequency wireless communication technology.

A radio communication is established by touching the two phones or keeping them in a proximity of a few centimeters.

NFC is mainly aimed for mobile or handheld devices. NFC is an extension of Radio frequency identification or RFID technology. RFID is mainly used for tracking and identification by sending radio waves. NFC devices can be used in contactless payment systems, similar to those

currently used in credit cards and electronic ticket smartcards, and allow mobile payment to replace or supplement these systems.

For example, Google Wallet allows consumers to store credit card and store loyalty card information in a virtual wallet and then use an NFC-enabled device at terminals that also accept MasterCard PayPass transactions

In 2004, NFC Forum was formed by Nokia, Philips, Sony,to set standards for NFC . Every NFC enabled device will have “N-Mark” trademark ,developed by NFC Forum.

N MARK TRADEMARK

In 2006

First mobile phone( nokia 6131) with NFC released by NOKIA.

In 2010

First android phone SAMSUNG NEXUS S with NFC support released.

Near field communication is based on inductive-coupling.

NFC works using magnetic induction between two loop antennas located within each other's 'near field’.

operating frequency 13.56 MHz.data rate 106 kbit/s to 424 kbit/s.

NFC use an initiator and a target; the initiator actively generates an RF field that can power a passive target.

Initiator Device

Target

In Active mode, both devices with NFC chip generates an electromagnetic field and exchange data.

Two NFC enabled devices transfer-ring data in active mode

In Passive mode, there is only one active device and the other uses that field to exchange information.

A NFC-enabled mobile phone is paired with a RFID-tagged "smart poster"

Touch and Confirm Applications such as mobile payment where the

user has to confirm the interaction by entering a password or just accepting the transaction.

Thescreenshot from a mobile device showing the confirmation message.

High convenience to the user, because the data exchange is done by bringing two mobiles together.

Reduces cost of electronic issuance . Secure communication. No special software. No manual configuration and settings. No search and pair procedure.

In 2011, handset vendors released more than 40 NFC-enabled handsets. iOS mobile operating system does not support NFC. Google, on the other hand, includes NFC functionality in their Android mobile

operating system and provides a NFC payment service, Google Wallet. BlackBerry devices have also supported NFC using BlackBerry Tag on a number

of devices running BlackBerry OS 7.0 and greater. Mastercard has added further NFC support for PayPass for the Android and

BlackBerry platforms, enabling PayPass users to make payments using their Android or BlackBerry smartphones.

Microsoft added native NFC functionality in their mobile OS with Windows Phone 8, as well as the Windows 8 operating system. Microsoft provides the "Wallet hub" in Windows Phone 8 for NFC payment, and can integrate multiple NFC payment services within a single application.

QR Codes 2D barcode are Square bar codes, or QR codes are an easy way to inject info into mobile phone. This makes it easy to create communication such visit a website or copy useful text.

QR codes have been around since they were invented in 1994. Originally used to track products in warehouses, QR codes were designed to replace traditional (1D bar codes).

Traditional bar codes just represent numbers, which can be looked up in a database and translated into something meaningful. QR, or “Quick Response” bar codes were designed to contain the meaningful info right in the bar code

Online companies like PayPal, Amazon Payments and Google Wallet also have mobile options

◦ Generally, the process is :First Payment User registers, inputs their phone number, and the provider sends them an SMS

with a PIN User enters the received PIN, authenticating the number User inputs their credit card info or another payment method if necessary (not

necessary if the account has already been added) and validates payment

Subsequent payments The user re enters their PIN to authenticate and validates payment

Mobile pay is one of the most innovative ways for merchants to attract customers.

Although still in its relative infancy, mobile pay, which uses Google Wallet for its transactions, allows customers to purchase items from apples to zoo tickets at brick and mortar stores by using an Android app.

Google WalletGoogle Wallet

Getting established with Google Wallet is simple, particularly for merchants who already accept contactless payments; otherwise a terminal must be ISO 18092 or 14443 compliant.

It’s a free app for Android phones.Free coupons are available from several sites.Prepaid offers are also available from Google Offers Hub.Both savings and checkout are easier and faster for the customer.

Google Wallet is designed to work with all retailers, networks, banks and carriers.Merchants attract a more upscale customer base.No network connection is required for the customer.Cutting-edge security measures provide the ultimate safeguards for the customer.

http://www.nfc-forum.org http://www.gemalto.com/nfc.html http://www. whatis.techtarget.com/nfc.html http://www. asia.cnet.com/near field

communication.html www.radio-electronics.com/info/wireless/nfc/

nfc_overview.php http://www.controleng.com/index.asp?

layout=article& articleid=CA6289218&spacedesc=latest

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