Plastic money use jumps 50% in FY0831 Mar, 2008, 0540 hrs IST,Paramita Chatterjee, TNN
According to Credit Card Management Consultancy - CCMC, there are about 25 million credit card holders in the country and the number is expected to grow significantly in 2008-09. However, 40% of the cards are still inactive as a large number of consumers have multiple cards, while they use only one or two actively.
Consumers in India spend an average of Rs 4,000 a month per card, which is significantly less when compared to other Asian nations like China, Japan and Thailand, the use of plastic money in India is gaining prominence and has started accelerating after holding on to steady growth for years
http://economictimes.indiatimes.com/News/Plastic_money_use_jumps_50_in_FY08/articleshow/2912746.cms
Monday, March 31, 2008
Lets look at the Paging Device
Paging Technology (from Wiki)
There are several protocols for Pager Technology, I will try to find out more about the ones adopted in Asia.
A brief description about one of the Alphanumeric Paging protocol....
Telocator Alphanumeric input Protocol [http://www.tap-ixo.info/how-tap-works.htm]was also known at PET and IXO protocol. This protocol was used for sending one way alphanumeric pages. Originally, devices like the IXO Device were used to send Alphanumeric Pages using TAP. Later, Motorola would create a similar device called the AlphaMate. TAP Protocol is still used today in the still existing one way paging customer base and also to send one way messages to cellphones. In 1996, RAM Mobile Data introduced extensions to TAP for two way paging over the Mobitex network.
The Future
"Recent developments in pager technology include the ability to transmit a limited number of pre-programmed responses back from the pager to the caller via radio signals. For example, this would allow the pager user to send a message of "buy" or "sell" in response to an urgent inquiry from his or her stockbroker. Two-way communication via pager is expected to expand in the near future"
Excerpt from - - http://www.madehow.com/Volume-2/Beeper.html
There are several protocols for Pager Technology, I will try to find out more about the ones adopted in Asia.
A brief description about one of the Alphanumeric Paging protocol....
Telocator Alphanumeric input Protocol [http://www.tap-ixo.info/how-tap-works.htm]was also known at PET and IXO protocol. This protocol was used for sending one way alphanumeric pages. Originally, devices like the IXO Device were used to send Alphanumeric Pages using TAP. Later, Motorola would create a similar device called the AlphaMate. TAP Protocol is still used today in the still existing one way paging customer base and also to send one way messages to cellphones. In 1996, RAM Mobile Data introduced extensions to TAP for two way paging over the Mobitex network.
The Future
"Recent developments in pager technology include the ability to transmit a limited number of pre-programmed responses back from the pager to the caller via radio signals. For example, this would allow the pager user to send a message of "buy" or "sell" in response to an urgent inquiry from his or her stockbroker. Two-way communication via pager is expected to expand in the near future"
Excerpt from - - http://www.madehow.com/Volume-2/Beeper.html
Wednesday, March 12, 2008
Tuesday, March 11, 2008
make the thing more secure !!
ID-1 - 85.60 × 53.98 mm
Color : variety
forms - many
yes I am talking of the credit card
how secure is this plastic money that the world carries ?
Whenever the card is swiped on the merchandise, whenever the details are put on the Internet, how much secure we are against fraud / skimming / phishing etc. etc.
the list just goes on !
Final road to security --
Lets introduce a paging device to empower the user of the card, the device which will be two way communication enabled (similar to a pager) small-size (that of a key chain) will establish a direct link between the customer and the bank from which the money is transacted.
whenever a transaction is attempted the bank sends the page to the device describing the transaction briefly eliciting a response from the user. On positive identification of the transaction (the user selects yes) and sends the signal back to the bank, the bank then continues the transaction, money being credited.
In event of an unidentified transaction, the user simply says no and declines it. The bank cancels the merchants request and further takes action to seize the culprit who initiated the fraudulent transaction.
Advantages of the above approach
1. the security is divided into two levels viz. card-level (cvv,cvv2) and the comm. device level (2 way communication btw bank and customer)
2. The card user is empowered and hence gathers faith.
3. Misuses reduced to zero.
4. In event of losing the card, the user is rest assured that the card is immune to fraud attacks.
5. Undue wastage of time, money and precious resources in legal hassles (both at the bank side and the side of creditcard user) are eliminated.
6. Potential Savings : Approx 80 million $ (global figure calculated annually) money scam via creditcard
The only disadvantage is the initial cost associated to setup a two way link between the bank and the credit card user.
... to be continued ...
Color : variety
forms - many
yes I am talking of the credit card
how secure is this plastic money that the world carries ?
Whenever the card is swiped on the merchandise, whenever the details are put on the Internet, how much secure we are against fraud / skimming / phishing etc. etc.
the list just goes on !
Final road to security --
Lets introduce a paging device to empower the user of the card, the device which will be two way communication enabled (similar to a pager) small-size (that of a key chain) will establish a direct link between the customer and the bank from which the money is transacted.
whenever a transaction is attempted the bank sends the page to the device describing the transaction briefly eliciting a response from the user. On positive identification of the transaction (the user selects yes) and sends the signal back to the bank, the bank then continues the transaction, money being credited.
In event of an unidentified transaction, the user simply says no and declines it. The bank cancels the merchants request and further takes action to seize the culprit who initiated the fraudulent transaction.
Advantages of the above approach
1. the security is divided into two levels viz. card-level (cvv,cvv2) and the comm. device level (2 way communication btw bank and customer)
2. The card user is empowered and hence gathers faith.
3. Misuses reduced to zero.
4. In event of losing the card, the user is rest assured that the card is immune to fraud attacks.
5. Undue wastage of time, money and precious resources in legal hassles (both at the bank side and the side of creditcard user) are eliminated.
6. Potential Savings : Approx 80 million $ (global figure calculated annually) money scam via creditcard
The only disadvantage is the initial cost associated to setup a two way link between the bank and the credit card user.
... to be continued ...
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