E –Purse system

Many Successful e-purse schemes have been implemented in close communities including college campuses, clubs, hotels, food malls, shopping complex and massive transportation services. It could be applied to fast food outlets, Laundromats, photocopy machines, fax services and vending machines. Generally speaking, debit and prepaid cards for small value payments will soon be common when more merchants accept this payment scheme.
 

The future of smart cards in electronic commerce is not just in payment cards, but also, loyalty cards, airline tickets and other value added cards. Customers ‘preferences, bonus and other information could be kept in the card. Companies could then obtain  their customers’ preferences and shopping histories for planning moe customer oriented marketing stratergies. The card could also be personalized to hold the cardholder’s profile . In this way , companies could become more competitive in attracting customers.

In the future , the smart card would be used for payment in different aspects . they could be used for both bankcard and prepaid debit card fuctions . furthermore , because the smart card is easily portable , it could be used for both online and offline payment.

In the area of electronic commerce, smart cards can be used for storing and protecting a numbers of keys. With the use of smart card for payment, security risk could be reduced as each transaction is considered an individual event. Furthermore, even if a particular smart card is hacked, the user account will still be safe.

Together with the use of pin number, biometric and visual verification smart cards can prevent unauthorized access and user’s privacy and security could be achieved.

The smart card system application system software simple administration of the smart cards electronic purse. The member details are easily maintained on the system with the ability to add a member onto the system, edit and existing members information and delete a member from the system . members are maintained in categories where, among other things the category determines the credit limit and access privileges for the member . Clicking one button will initialize a smart card for a member . If lost , a smart card can be hot listed . A new card can be issued by clicking a button and the members current balance will be automatically transferred. Funds can be added or removed from the card by simply showing the card to the reader clicking on the transaction type (Credit, Debit) entering an amount clicking “write to card” . A statement can be printed detailing the members purchase history; transaction can be listed in detail or summary format by date and location. This software can be integrated with the existing system.

1. The Smart Card Terminal will be loaded with application module.

2. When a transaction is logged at the smart card terminal , the amount transacted is keyed in , the operator inserts the smart card and the terminal automatically checks for the balance on the cards , calculates the transaction amount on prevailing tariff and deducts the amount.

3. The closing balance is updated on the smart card.

4. Incase of availability of smart card terminal with printer , pronted receipts can also be provided.

5. Last 5 transactions are stored on the chip of the card .

6. All smart card terminals are connected to a centralized server via telephone , WLL, GSM, or broadband subject to availability of mode of communication .

7. All transactions are logged to the centralized server to keep records of transactions at various Smart Card Treminals.

8. Automatic software updates to Smart Card terminals can be done via Centralo Server.