Money Pad, The Future Wallet

[manojmali]

1. An electronic wallet management system which manages an electronic wallet devices holding monetary data, comprising: backup condition testing means for testing predefined backup conditions to determine whether to make a backup, when the electronic wallet device communicates with any other device to transfer monetary data; backup data sending means for sending out a predetermined set of backup data collected from the electronic wallet device, when said backup condition testing means has determined to make a backup; backup data management means for receiving the backup data from said backup data sending means and saving the received backup data into a backup database; receiving means for receiving an accident report concerning an electronic wallet device; and temporary electronic wallet issuing means, responsive to the accident report received by said receiving means, for calculating elapsed time between the last backup operation and the reception of the accident report, and issuing a temporary electronic wallet device with a limited valid period and a credit limit that is determined according to the elapsed time.

2. The electronic wallet management system according to claim 1, wherein: the predefined backup conditions include a condition about the number of monetary data transfers; and said backup condition testing means determines to make a backup if the number of monetary data transfers has reached the number specified in the condition.

3. The electronic wallet management system according to claim 1, wherein: the predetermined backup conditions include a condition about a time interval of backup operations; and said backup condition testing means determines to make a backup if the elapsed time since the last backup operation exceeds the time interval.

4. The electronic wallet management system according to claim 1, wherein: the predetermined backup conditions include a condition about an account to/from which the monetary data may be transferred; and said backup condition testing means determines to make a backup if the monetary data is to be transferred to/from the account specified in the condition.

5. The electronic wallet management system according to claim 1, wherein: the predetermined backup conditions include a condition about the amount of money to be transferred; and said backup condition testing means determines to make a backup if the monetary data to be transferred exceeds the amount specified in the condition.

6. An electronic wallet management system which manages an electronic wallet devices holding monetary data, comprising: receiving means for receiving an accident report concerning an electronic wallet device; and temporary electronic wallet issuing means, responsive to the accident report received by said receiving means, for calculating elapsed time between the last backup operation and the reception of the accident report, and issuing a temporary electronic wallet device that can be used within a limited valid period and a credit limit determined according to the elapsed time.

7. The electronic wallet management system according to claim 6, further comprising reclaiming means for reclaiming the electronic wallet device when the accident report received by said receiving means describes the electronic wallet device was broken down.

8. An electronic wallet management unit which manages an electronic wallet device, comprising: temporary electronic wallet data producing means, responsive to an accident report received from a terminal station, for calculating elapsed time between the last backup operation for an issued electronic wallet device and the reception of the accident report, compiling temporary electronic wallet data having a limited valid period and a credit limit that is determined according to the elapsed time, and sending the temporary electronic wallet data back to the terminal station.

9. A method for managing an electronic wallet device, comprising the steps of: receiving an accident report concerning an electronic wallet device; calculating, in response to the accident report received, elapsed time between a last backup operation and the reception of the accident report; and issuing a temporary electronic wallet device that can be used within a limited valid period and a credit limit determined according to the elapsed time.

10. A computer-readable medium storing an electronic wallet management program which controls an electronic wallet management unit, the program causing a computer to perform the steps of: calculating, in response to an accident report about an electronic wallet device, elapsed time between a last backup operation for the electronic wallet device and the reception of the accident report; compiling temporary electronic wallet data having a limited valid period and a credit limit that is determined according to the elapsed time; and sending the temporary electronic wallet data for use in issuance of a temporary electronic wallet device.

Description:
BACKGROUND OF THE INVENTION

1) Field of the Invention

The present invention relates to an electronic wallet management system which controls electronic wallet devices for monetary data transfer, an electronic wallet device itself, an electronic wallet management unit, a terminal station therefor, as well as to a storage medium containing an electronic wallet managing program. More particularly, the present invention relates to an electronic wallet management system which deals with the loss or failure of electronic wallet devices, as well as to an electronic wallet device, an electronic wallet management unit, and a terminal station designed therefor. The present invention also relates to a storage medium containing an electronic wallet managing program for realizing the system.

2) Description of the Related Art

Electronic wallet devices carry electronic money. People use them to make payment electronically, without using real money. Electronic wallet provides various advantages over cash, one of which is that payment can be made more promptly because there is no need to give or receive the change.

People may, however, lose their electronic wallet devices at times. The loss of electronic wallet devices may be handled variously, depending on their device type. For example, in the case of prepaid type devices, which can be used without user authentication, there is no way for the loser to have his/her electronic wallet reissued. This means that the loser would not be able to recover the electronic money at all, unless he/she discovers the very device that is missing. In contrast to this, such electronic wallet devices that require user authentication can be reissued at their respective issuing financial institutions when they are lost. In this case, the monetary data remaining in the lost electronic wallet will eventually be carried over to the reissued device, thus allowing the owner to use it without problems.

Reissuing of such an electronic wallet, however, consumes a long time. Specifically, those that require later settlement, like securities, may take a few months to be reissued. Another such example is banking cards, which manage monetary data not directly, but only through the customers' bank accounts. It takes a couple of weeks for the loser to get such a banking card reissued. What is worse is that the customer cannot spend his/her own money during the time he/she waits for the delivery of a reissued electronic wallet. Those problems in connection with the loss of electronic wallets are also true in another situation where the customer's electronic wallet device is broken down.
SUMMARY OF THE INVENTION

Taking the above into consideration, an object of the present invention to provide an electronic wallet management system which eliminates the inconvenience that one may encounter when his/her electronic wallet is lost or broken down.

It is another object of the present invention to provide an electronic wallet device which minimizes the inconvenience that one may encounter when it is lost or broken down.

It is still another object of the present invention to provide an electronic wallet management unit which minimizes the inconvenience that one may encounter when his/her electronic wallet device is lost or broken down.

It is yet another object of the present invention to provide a terminal station which minimizes the inconvenience that one may encounter when it is lost or broken down.

It is a further object of the present invention to provide a storage medium containing an electronic wallet management program which minimizes the inconvenience that one may encounter when his/her electronic wallet device is lost or broken down.

To accomplish the above objects, according to the present invention, there is provided an electronic wallet management system which manages an electronic wallet devices holding monetary data. This system comprises the following elements: backup condition testing means for testing predefined backup conditions to determine whether to make a backup, when the electronic wallet device communicates with any other device to transfer monetary data; backup data sending means for sending out a predetermined set of backup data collected from the electronic wallet device, when the backup condition testing means has determined to make a backup; and backup data management means for receiving the backup data from the backup data sending means and saving the received backup data into a backup database.

The proposed electronic wallet management system operates as follows. Each time an electronic wallet device is used, the backup condition testing means tests whether any of the predefined backup conditions is met. If any condition is met, the backup data sending means sends a predetermined set of backup data. By the backup data management means, this backup data is saved into a backup database. In this way, the proposed system automatically saves backup information when a relevant backup condition is met, thus making it possible to promptly reissue an alternative electronic wallet device when the customer lost his/her own device.

The present invention also provides an electronic wallet device which transfers monetary data. This electronic wallet device comprises the following elements: backup condition testing means for testing predefined backup conditions to determine whether to make a backup, when the electronic wallet device communicates with any other device to transfer monetary data; and backup data sending means for sending out a predetermined set of backup data collected from the electronic wallet device, when the backup condition testing means has determined to make a backup.

The proposed electronic wallet device operates as follows. Each time a transfer of funds occurs, the backup condition testing means tests whether any of the predefined backup conditions is met. If any condition is met, the backup data sending means sends a predetermined set of backup data. By storing such backup data, an electronic wallet management unit can promptly reissue an alternative electronic wallet device when a customer lost his/her own electronic wallet device.

Further, the present invention provides an electronic wallet management unit which manages an electronic wallet device, comprising temporary electronic wallet data producing means, responsive to an accident report received from a terminal station, for calculating elapsed time between the last backup operation for an issued electronic wallet device and the reception of the accident report, compiling temporary electronic wallet data having a limited valid period and a credit limit that is determined according to the elapsed time, and sending the temporary electronic wallet data back to the terminal station.

The proposed electronic wallet management unit operates as follows. When an accident report is received from a terminal station, the temporary electronic wallet data producing means outputs temporary electronic wallet data having a limited valid period and a credit limit that is determined according to the elapsed time since the last backup operation. A temporary electronic wallet device containing such temporary electronic wallet data can be issued to the customer for the sake of his/her convenience, with a minimum risk at the issuer side.

In addition, the present invention provides a terminal station coupled to an electronic wallet management unit. This terminal station comprises the following elements: medium storage means for storing a plurality of temporary electronic wallet devices in stock for future issuance; receiving means for receiving the accident report concerning an electronic wallet device; transmission means for forwarding the received accident report to the electronic wallet management unit; temporary electronic wallet data writing means for writing the temporary electronic wallet data to a memory of one of the temporary electronic wallet devices stored in the medium storage means, the temporary electronic wallet data being supplied from the electronic wallet management unit in response to the forwarded accident report; and temporary electronic wallet device releasing means for releasing the temporary electronic wallet device containing the temporary electronic wallet data.

The proposed terminal station operates as follows. When an accident report concerning an electronic wallet device arrives at the receiving means, the transmission means forwards it to the electronic wallet management unit. The electronic wallet management unit then supplies temporary electronic wallet data. The temporary electronic wallet data writing means writes this temporary electronic wallet data to a memory of one of the temporary electronic wallet devices stored in the medium storage means. Then the temporary electronic wallet device releasing means releases the temporary electronic wallet device containing the temporary electronic wallet data. In this way, the customer can receive a temporary electronic wallet device by entering an accident report to the station, which eliminates his/her inconvenience for the time being.

Moreover, the present invention provides a computer-readable medium storing an electronic wallet management program which manages an electronic wallet device holding monetary data. This program causes a computer to function as: backup condition testing means for testing predefined backup conditions to determine whether to make a backup, when the electronic wallet device communicates with any other device to transfer monetary data; backup data sending means for sending out a predetermined set of backup data collected from the electronic wallet device, when said backup condition testing means has determined to make a backup; and backup data management means for receiving the backup data from said backup data sending means and saving the received backup data into a backup database.

When the stored electronic wallet management program is executed on a computer, the computer will function as: backup condition testing means for testing predefined backup conditions to determine whether to make a backup, when the electronic wallet device communicates with any other device to transfer monetary data; backup data sending means for sending out a predetermined set of backup data collected from the electronic wallet device, when said backup condition testing means has determined to make a backup; and backup data management means for receiving the backup data from said backup data sending means and saving the received backup data into a backup database.

The above and other objects, features and advantages of the present invention will become apparent from the following description when taken in conjunction with the accompanying drawings which illustrate preferred embodiment of the present invention by way of example.

[minu88]

"Money in the twenty-first century will surely prove to be as different from the money of the present century as our money is from that of the previous century. Just as fiat money replaced species-backed paper currencies, electronic debits and credits will be converted In the dominant modes of payment, creating the potential for private money to compete with government-issued coins. "Just as every thing is getting under the shadow of" e "today we have paper money that is replaced by electronic money or e -cash.Hardly one day It happens without some mention in the financial press of new developments in "electronic money". In the emerging field of e-commerce, new buzzwords like smart cards, online banking, digital cash and electronic checks are used to discuss money. These are some of the difficult questions to answer, but here is a solution, which provides a way of securing these modes of currency exchange using biometric technology. The Money Pad introduced here uses biometric technology for fingerprint recognition. Money Pad is a form of credit card or smart card, which we call it.

Each time the user wants to access the Money Pad you have to make an impression of your fingers that will be scanned and paired with the hard disk of the database server. If the fingerprint matches that of the user, you will be allowed to access and use the Pad otherwise the Money Pad is not accessible. Thus, provide a form of security to the transaction currency of the future of the future "e-cash." Money Pad - A form of credit card or smart card similar to the diskette, which is introduced to provide, transactions and -Secure cash.

Despite the increased flexibility, relationship based cards are based on credit and settlement occurs at the end of the billing cycle. There is still a need for a financial instrument to replace cash. To meet this need, banks, credit card companies and even government institutions are rushing to introduce "electronic purses", portfolio-sized smart cards embedded with programmable microchips that store sums of money for people to use instead of Money for everything, To make photocopies, to pay the rates of the meter.

The electronic wallet works as follows.

After the wallet is loaded with cash, at an ATM or by using a special inexpensive phone, it can be used to pay, for example, sweets in a vending machine equipped with a card reader. The vending machine just needs to verify that a card is authentic and there is enough money available for a candy bar. In a second, the value of the purchase is deducted from the banker on the card and added to an e-box in the vending machine.

The remaining balance on the card is displayed on the vending machine or can be checked at an ATM or with a balance reading device. Electronic tickets virtually eliminates the search for changes or small bills in a busy shop or toll-hour, and waiting for a purchase of credit card to be approved. This allows customers to pay for travel and calls with a prepaid card that "remembers" every transaction.

And when the balance of an electronic bag is exhausted, the bag can be recharged with more money. As for the seller, receipts can be collected periodically in person - or, more likely, over the phone and transferred to a bank account. While technology has been available for a decade, the cards have been relatively expensive, from $ 5 to $ 10. Today cards cost $ 1, and special phones that consumers could install at home to recharge the cards themselves Projects that cost as little as $ 50. A simple card reader would cost a merchant less than $ 200.

[Er.Ritesh]

Money Pad, The Future Wallet
Introduction
The Money Pad introduced here uses the biometrics technology for Finger Print recognition.
Money Pad is a form of credit card or smartcard, which we name so.
Every time the user wants to access the Money Pad he has to make an impression of his fingers which will be scanned and matched with the one in the hard disk of data base server.
If the finger print matches with the user's he will be allowed to access and use the Pad other wise the Money Pad is not accessible
Credit Card
Credit cards are payment devices that allow the consumer to make purchases within certain guaranteed limits as defined by the issuer of the card.
To use a credit card in most cases it is sufficient to present the merchant with the card number and the cardholder's name and expiration date of the card.
These data can be conveniently transmitted over the Internet.
Furthermore, credit cards process funds by electronic means.
Electronic Purses and Debit Cards
Despite the increasing flexibility, relationship-based cards are credit based and settlement occurs at the end of the billing cycle.
There remains a need for a financial instrument to replace cash.
To meet this need, banks, credit card companies, and even government institutions are racing to introduce "electronic purses," wallet-sized smart cards embedded with programmable microchips that store sums of money for people to use instead of cash for everything from buying food, to making photocopies, to paying subway fares.
Money Pad
Money pad is a biometric system similar to a credit card or a smart card just like a floppy disk.
It consists of a touch sensor and magnetic disk as its peripherals.
Touch sensor is used to record the fingerprint of the user. Magnetic disk, which has the read and write permission is used to hold the authentication details of the user, bank code as well as digi-cash.
The bank code and account number of the owner of this money pad is present on the label.
Why use Money pad?
Instant clearing of funds
Avoids the insecure way of carrying money
Provides strong security
Can be meet by a common man
Avoids the nuisance of renewing
Technical Implementation
The Money Pad uses the Biometric Technology as the technique with which the security is provided.
Biometric Technology are used to accurately identify and verify an individuals identity.
This involves identifying his physiological and behavioural characteristics.
Biometrics in general refers to the study of biological characteristics.
With reference to computer security, it refers to authentication techniques using biological characteristics that are measurable or identifiable and unique to an individual
Fields Of Application
Applicable in e-banks and in any kind of e-transactions
Can be used to carry out remote transactions
Useful to carry Digital cash
Utilization of personal data in filling order forms
Applicable in m-commerce transactions
Applicable in daily life
Conclusion
For a digital currency system to attain widespread recognition and use the following three requirements are necessary:
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions there is no doubt that in near future it will be widely recommended for use .

[shameer]

Definition

"Money in the 21st century will surely prove to be as different from the money of the current century as our money is from that of the previous century. Just as fiat money replaced specie-backed paper currencies, electronically initiated debits and credits will become the dominant payment modes, creating the potential for private money to compete
with government-issued currencies." Just as every thing is getting under the shadow of "e" today we have paper currency being replaced by electronic money or e-cash.

Hardly a day goes by without some mention in the financial press of new developments in "electronic money". In the emerging field of electronic commerce, novel buzzwords like smartcards, online banking, digital cash, and electronic checks are being used to discuss money. But how are these brand-new forms of payment secure? And most importantly, which of these emerging secure electronic money technologies will survive into the next century?

These are some of the tough questions to answer but here's a solution, which provides a form of security to these modes of currency exchange using the "Biometrics Technology". The Money Pad introduced here uses the biometrics technology for Finger Print recognition. Money Pad is a form of credit card or smartcard, which we name so.

Every time the user wants to access the Money Pad he has to make an impression of his fingers which will be scanned and matched with the one in the hard disk of data base server. If the finger print matches with the user's he will be allowed to access and use the Pad other wise the Money Pad is not accessible. Thus providing a form of security to the ever-lasting transaction currency of the future "e-cash".

Money Pad - A form of credit card or smart card similar to floppy disk, which is
introduced to provide, secure e-cash transactions.

[hareshghoniya]

[attachment=15326]
Money Pad, The Future Wallet
Keywords
Introduction
Biometrics.
Security.
Finger Print recognition.
Forms.
Accessing.
Authorization.
E-cash.
E-cheque.
Credit and Debit Card
Definition
Providing details.
Transactions over Internet.
Processing.
Smartcards
Electronic Purses
Flexibility.
Relation ship based cards.
Financial instrument.
Wallet-sized smart cards useful in
Buying food,
To making photocopies,
To paying subway fares.
Money Pad
Floppy disk.
Consists of peripherals like:
A touch sensor and
Magnetic disk as its peripherals.
Details of the owner.
Transactions.
Why use Money pad?
Instant clearing of funds
Avoids the insecure way of carrying money
Provides strong security
Can be meet by a common man
Avoids the nuisance of renewing
Design of the system
Fields Of Application
Applicable in e-banks and in any kind of e-transactions
Can be used to carry out remote transactions
Useful to carry Digital cash
Utilization of personal data in filling order forms
Applicable in m-commerce transactions
Applicable in daily life
Conclusion
For a digital currency system to attain widespread recognition and use the following three requirements are necessary:
1. Instant clearing of funds
2. Elimination of payment risk
3. Secure transactions using strong encryption
Since the Money Pad aims to satisfy the above conditions there is no doubt that in near future it will be widely recommended for use .

[dinesh rajwade]

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[srav.kum.1010]

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[rinkal]

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