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FINANCIAL TRANSACTIONS WITH SMART WEARABLE CONTACT LENS

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Patent granted in India and pending in US Problem Statement: Currently most of the bank transactions are going through wireless mode. There are many devices are available in the current market such as Smart Ring, NFC cards etc… However people have to carry the device along with their regular things but without any additional device users can’t perform the financial transaction. Solution: The objective of this idea is to perform financial transactions at ATM’s or at POS without carrying any special device by the user and they can use their contact lens itself works as wireless financial transaction device How it works: This special contact lens is made up of the same material which are using as of today without compromising the quality or health standards. We have to embed small circuit in this contact lens with different sensors and chips that can support Wi-Fi, BT, storage space, processing and NFC technologies. The power supply can be generated while user blinks th...

IOT package/Parcel Tracking Device

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Patent is granted in India nd US Problem Statement: In the current world e-commerce is fast growing business however so many frauds are happening in this sector due to poor secure packages and non-real time package location tracking and delivery proof. My idea will resolve this problem with minimal reusable hardware and efforts. Solution: This idea can resolve the above problem by enabling digital security and real time tracking mechanism to the parcel. How it works: First we need to add small device (as shown in below figure) to the parcel (preferably on top). While preparing the parcel e-commerce operator will transfer the orderID and the Delivery OTP (is dynamically generated) to the device by the operator and at the same time the same delivery OTP will be sent to the customer (who purchased the item), So no one knows the delivery OTP except the device and the customer. Now the operator ties/attach the box with the digital IOT device which includes small keypad...

SMART WEARABLE RING BASED WIRELESS TRANSACTION SYSTEM AND METHOD

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PCT Application Number                     : Will update soon Indian Patent Application Number  : 201841015370 US Patent Application Number         : Will update soon  Problem Statement: Currently few financial institutions are already introduced smart NFC rings for bank customers to pay the bills at merchant sites however if user need to use the smart ring for multiple banks then customer has to wear multiple rings to do financial transactions also this device can only works at POS and billing counters but not at ATM centres to do our regular ATM transactions like cash withdrawals and deposits. If we lost the ring and if there is no second level of authentication such as PIN based or OTP based then it might be biggest threat to bank customers. One more disadvantage is most of the current smart rings are working as prepaid cards...

Counterfiet currency Rejection system in ATM

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Problem Statement: In recent days ATM’s are loaded with fake currency and the ATM’s are dispensing them to the customers without checking whether it is fake or genuine because of this act common people are losing their hard earned money and also there is no trace like which ATM dispensed the particular note. Solution/How it works:  First method: To overcome the above problem ATM should be fitted with special hardware i.e. fake currency detector to detect each currency note whether it is genuine or fake note. This fake currency detector can be fitted before dispensing mechanism or to each cash chest counters. So while getting the cash from cash chest this fake note detector will scan each currency note for its genuineness. If the note is fake then the note will be collected in the fake currency chest in the ATM itself and it will fetch new currency from the same denomination from the cash chest and scan again. If that note is genuine then it will collect in the ready to...

SIM-less Mobile Devices

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PCT Application Number                     : Will update soon Indian Patent Application Number  : 201841015108 US Patent Application Number         : Will update soon Problem Statement: Currently every mobile device will work only with SIM card either CDMA/GSM and there is a limitation with SIM slots in each mobile hence users can choose or use only limited networks in the single mobile device and there is no chance to increase the mobile networks without removing the old SIM card from the mobile device. Solution: The objective of this idea is to remove the SIM card concept and make the SIM-Less mobile phones. How it works: Each mobile phone is embedded with Mobile device ID which is unique (world-wide) and can’t be replaced or modified in any ways but can be read from the mobile device. The manufacturer generate the mobile d...