AU2021106789A4 - A money transfer methodology using coloured input plate and body heat fluctuation. - Google Patents

Abstract

: A money transfer methodology using colored input plate and body heat fluctuation This invention describes a method of money transfer using the body heat fluctuation caused using colour coding on a plate representing digital number is used for transaction of money by being connected to body heat sensing device capable to identify the change in heat based on the color being touched on the plate an deciphering it to the virtual bank liked to the system for receiving the command and to make the necessary transaction of the money using a ciphered color embossed plate with the bank account details of the individual with a digit embossed digit keys to enter password, a heat sensing device to identify the heat fluctuation in the human body based on the color which is being touched and an analysis and computing mechanism that deciphers the color detected into the digits which is provided to the virtual wallet system designed to manage the money transaction. SIGNATORY Dr Sachin Rajendra Suryawanshi Sheet 1 of 2 APPLICANT Dr Sachin Rajendra Suryawanshi +- __ 2 A/C No. 02 *009 FIGURE - 1: COLORED INPUT PLATE Signatory Dr Sachin Rajendra Suryawanshi

Description

Sheet 1 of 2

APPLICANT Dr Sachin Rajendra Suryawanshi

+-

__ 2

A/C No.

02

*009

FIGURE - 1: COLORED INPUT PLATE

Signatory

Dr Sachin Rajendra Suryawanshi

TITLE A money transfer methodology using colored input plate and body heat fluctuation

FIELD OF THE INVENTION AND USE OF INVENTION

[0001] This is an invention made in the field of computer by linking the software solution with the banking sector for the simplification of the money transfer procedure.

[0002] In this exemplary method instead of manual entry of account data, a color detection method is explored by touch using which the data can be transferred to the application installed in the computing device wirelessly which is connected to the financial institution from where the money transfer will be made wirelessly either through offline or online mode.

PRIOR ART AND PROBLEM TO BE SOLVED

[0003] Today the banking sectors provide lots of flexibility. The banking sector has adopted online services for easy transactions and data management. People can conveniently transfer or retrieve money from any corner of the world. Even for this simple transfer the person is required to manually enter the entire bank details of the other person for which the bank verifies and authenticates the details and it makes the transaction if they are correct, in case of any typo error the entire details needs to be manually provided again which is tiresome.

[0004] This above mentioned problem has been solved in this invention by using the method of color detection method using touch for money transfer. Our body produces different heat intensity based on the color touched by us. So by using the same concept a method is created where colors are used instead of numbers and by using touch the account details is transferred due to the body heat to the application installed in the computing device attached to the body. Due to this method the hacks of manually typing of data can be resolved.

THE OBJECTIVE OF THE INVENTION:

[0005] During the starting phase of research in the field of banking it was observed that although multiple facilities are being provided by the banking sectors, the tiring method of manually entering the transaction details has not been changed. The user has to enter the complete detail of the transferring account. In this case the factor of human error effects the transaction. This process needs a lot of patience as the data needs to be entered carefully. If there is an error the transaction gets deleted and the user has to type the data again.

[0006] The principle objective of this invention is to change the methodology of money transfer using color detection technique. Here an application is built which needs to be installed in the user's computing device which is connected to the financial institution. For this methodology to work color embossed plates is built which will be used to provide the information on the receiving account. By using the simple colored input plate the user will be able to transfer the money. The further objective of this invention is the use of heat fluctuation which is generated in the body due to the change in color. When the color changes in the plate the application in the computing device will detect the change in heat and will detect the color which will further link the color to the numbers it is synced with and the Virtual payment gateway will do the necessary for the transfer to the plate holder's account.

SUMMARY OF THE INVENTION

[0007] Simple, easy, cost effective money transfer is possible using this method. Here, a simple color embossed plate is designed which contained color coded details of a person's bank account and the customer using a mere touch of the fingers can transfer the amount to the other person's account. Here the heat fluctuation due to the change in color is detected by the application which works as an interface between the user and the financial institute. The application decodes the color detected into the number synced with the color which is then authenticated by the virtual bank to proceed with the amount transfer process.

DETAILED DESCRIPTION OF THE INVENTION

[0008] In today's world communication services have expanded their boundaries, providing us with easier life styles. Online services' collaboration with banking has created a huge impact on the working and living patterns of the society as it is easier to transfer money, to purchase anything if you have the internet service on your appliance.

[0009] There are 2 ways to transfer money either by physically depositing it to the other person's account or by manually entering all the data and then transferring it offline. The tiresome procedure with this methodology is the manual data entry of the recipient's bank details. Even with all the technologies in the word the data demands to be typed manually. So to simplify the procedure and to remove the procedure of typing the account data this method is designed where a color plate is designed which contains the account number of the recipient, a mechanism to only finger touch and enter the amount and the password by the sender for the transfer. For the working of this method the components required are the color embossed input plate. This plate is provided by the intermediate virtual payment gateway to the recipient, which works as an interface between the financial institution and the sender/receiver. This plate can be made of any material, including iron, steel, plastic, and others. The plate is embossed with a color code to initiate the transaction, the account number to which the money is to be transferred and 10 digit color synced portion to enter the amount and the authentication password. It also contains a confirmation key touching which the notification is sent that the amount is entered or the password is complete.

[0010] The next component is the application of the virtual bank, which needs to be installed into any computing device through which the transfer of money is to be made. This application is specifically designed to detect the heat fluctuations in the body due to the color change and to decipher the color code into numeric. The application built, can be installed into any computing device without a barrier of the technology used by the phone i.e. android, IOS etc. even older OS like Java using technology appliance can also function well using this application. This creates unanimity among the user, i.e. any person a farmer to a millionaire; a student to a corporate person can use this invention for the money transaction.

[0011] The following module is the virtual bank, which stores the data of the users using this flexibility. At the time of application installation the user is asked to provide all the YC details required to open a bank account, including name, address, phone number, PAN number. The account identification information and customer identification information provided by the customer are typically used to locate records (e.g., customer account information) in the banking system associated with the customer's bank account as the virtual bank is associated with the actual financial institution. The authentication procedures used can be of multiple type based on the usage of the application, including a personal identification number (PIN), a pass code, biometric information (e.g., voice authentication, a fingerprint, and/or a retina scans), or an answer to a security question. This authentication information may be used to authenticate the identity of the customer (e.g., determine that the authentication information is associated with the account) and determine that the customer has authority to access the banking account. The virtual bank is used as a wallet by the user to make the transfer to the recipient's account. The virtual bank communicates with the bank for the wallet transaction when the user of the application commands for the same using the app.

[0012] The working of this system is exemplary and novel. Here the plate that is made of color embossment is used by the recipient at the centers using which the sender can transfer the required amount the receivers account. The basic rule for this methodology to work is that the sender and receiver should be linked with the virtual bank for the transaction to take place. The transfer of money can take lace using the general method of typing the detail in the application installed in the computing device created by the virtual bank, but a secondary simple method invented for easy transfer of money is by using the plate provided by the virtual bank to the recipient. For the user to transfer the money to the recipients account the simple procedure to be done is to touch the color embossed on the plate. The plate has no electronic circuit or microprocessor attached to it to send the color code to the application. The working mechanism behind this method is as follows. An application is provided by the virtual bank for all its users, which is installed in all the computing device using which the user does the transaction. The application has been built so that when the user touches the plate it receives notification to transfer the money from the virtual payment gateway.

[0013] It is a known phenomenon that in our body, heat fluctuates depending on the color type touched by us. This fundamental law is used for the amount transfer. When the color on the plate is touched by the user the heat fluctuation generated in the body is detected by the application installed in the computing device attached/kept near the user's body which later deciphers it to the numbers linked with the color type to proceed for the transaction. When the next color is selected after a duration gap again the body heat fluctuates, which is then detected by the application and the decoding of the color to number continues. Once the application has received the command to start the transfer procedure, it will first wait for the account number which will be a color code of a sequence of different color based on the cipher of numbers provided by the virtual system. After the account number is received, the application will wait for the user to touch the confirmation color code to indicate the completion of the sequence. After the account number is properly received the application waits for the amount that needs to be transferred. On the plate all the 10 digits will be color coded and instead of just digits, 10 colors will be displayed as shown in Figure 1. User can select the number, but the touch will sense the color and the application will function according to the color detection theory. The last functionality is to enter the password by using the same numeric color display using which the digit for the amount was provided. After the completion of entering each sequence of data , the confirmation key needs to be touched to notify the completion of the sequence.

[0014] A sequence of color can be provided using the numeric color pad on the colored input plate, which the sender can touch and enter the authentication code that will be expected by the application after the absolute account transfer data has been received. This is a method used for dual authentication. Here as authentication is done using color type instead of digits, it provides a better level of substantiation while transferring the data.

[0015] The application provided by the virtual system contains all the details of the users who are using the app to transfer the amount from the account synced with the application. While installing the application user is required to provide all the details that have been provided by the bank to sync the same with the virtual bank. Only then can the application use this method to transmit the amount from the financial institution to the wallet of virtual bank. The commencement procedure used before the transfer is used to activate the application which is pre-installed in the computing device. It is mandatory that the device is close to the user's body as the vacillation in heat needs to be sensed by the instrument which will further notify the application. This application has the mechanism to sense the heat fluctuation and to decipher the color code into numeric data that is coded by a backhand of the application. The application after translating the cipher of color into numeric data transfers the details to the virtual system for authentication, once the virtual bank approves of the received data it notifies the application and the application indicates the user of the debited amount from the account. In case of failure of the transfer due to any reason including insufficient money, wrong password the user will be notified of the same. The colors used in the colored input plate shown in Figure - 1 is just as an example to illustrate the working. This can be varied as per the implementation of this method into the system.

[0016] This methodology can even work if the transfer is to be done between 2 applications. Even the user can use the photograph of the plate to make the transaction in case the sender is using the computing device directly instead of touch method. The application can transfer the data to the virtual bank using offline or online mode of service. The offline transaction is done by using either GSM or CDMA service and for online Internet is used.

[0017] The virtual bank is the link between the user and the financial institution. The user who wants to use the facility of online and offline mode of money transfer using the color detection method, mandatorily needs an account with the virtual bank. When the application is installed by the user , all the KYC details like account number, name , phone number , PAN number along with the device identification details, all are stored in the virtual bank, which the virtual bank gets authenticated from the financial institution in which the user has an account. Once the financial institution approves and confirms the details provided an account is set b the virtual bank and an approval to use the wallet is sent to the application. The user can transfer the required amount from the financial institution to the wallet of the virtual system. The user can later use the money from the wallet to transfer or pay for the necessity either offline or online. For every successful transaction the application will be notified. For every transaction between the app and the virtual system and the virtual system and financial institute the app user will be notified for every successful and non successful transaction.

[0018] All with the transfer facilities between the virtual system and the financial institution the user will be provided with additional security features associated with network security. For example, a user may be fearful of the repercussions associated with transmitting sensitive information across an insecure network connection. The user may then specify that they prefer for the system to not connect with the financial institution when the device is utilizing an inconfident network connection. In some embodiments, in response to determining the device is currently utilizing an insecure network connection, the system may determine an association cannot be established between the device and a device associated with the financial institution.

[0019] The system may notify the user of a successfully processed transaction request. The notification may additionally comprise a confirmation of the processed transaction that has been provided by the financial institution. Alternatively, the system may notify the user of an unsuccessfully processed transaction request. The notification may comprise additional information indicating one or more reasons as to why thefinancial institution was unable to process the transaction request. In some embodiments, the financial institution may request the user to edit the transaction request and resubmit it for processing.

[0020] So here the mobile device is provided with a provision to do the money transfer using an application which is capable enough to detect the heat fluctuation sensed by the mobile device due to color change from the colored input plate and decipher the color code to the numeric data synced with it , along with a feature wherein the application is configured to automatically transfer the data when in online mode and when the online connection is not available the application will store the data in the mobile device check the availability of the GSM/CDMA service and complete the transfer using offline mode with the virtual bank.

[0021] For all the offline and online transactions happening between the application and the virtual bank, once the records associated with the customer's account are located, an association is made between the identity of the device and the account. In response to authenticating the identity of the user, electronically receive, at the device via the application, a transaction request from the user. In response to the received request to submit the transaction request for processing the transaction from the virtual payment gateway to the user, determine whether a network connection is established between the device and the device associated with the virtual bank or not; store the one or more authentication credentials received from the user locally on the mobile device; repeatedly, over time, the application will attempt to detect whether or not the network connection is available. In response to detecting that the network connection is available, with the established network connection between the device and the virtual bank a successful money transfer is achieved.

[0022] The virtual bank will be synced with multiple financial institutes for the successful implementation of this method. For the purposes of this invention, a "financial institution" may be defined as any organization, entity, or the like in the business of moving, investing, or lending money, dealing in financial instruments, or providing financial services. This may include commercial banks, thrifts, federal and state savings banks, savings and loan associations, credit unions, investment companies, insurance companies and the like. The "user" may be a customer (e.g., an account holder ) or a person who has an account (e.g., banking account, credit account, or the like) at the entity) or potential customer

.

[0023] All the details that have been provided for authentication helps the user to protect against monetary losses in case the device is lost or stolen. Multiple authentications can be used and in case false authentication is provided multiple times the application will ask the security question that was initially entered at the time of installation before the application locking the entire system for security reasons. If false data are provided the application will shut down the application along with the device and will send a notification to the email ID register to this application to indicate the infiltration. This will safeguard the application along with the device from being mishandled.

FIGURE DESCRIPTION

[0024] The accompanying drawings, which are incorporated in and constitute a part of this disclosure, illustrate an exemplary embodiment and, together with the description, serve to explain the disclosed embodiment. In the figures, the left and rightmost digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the figures to reference like features and components. Some embodiments of the system and methods of an embodiment of the present subject matter are now described, by way of example only, and concerning the accompanying figures, in which:

[0025] Figure - 1 illustrates a Colored Input Plate consisting of Recepient's Plate embossed with account transfer parameters (1), Transfer initiation command color code (2), Color code for account number (3), Digits color coded for the detection (4), Acknowledgement key color code (5)

[0026] Figure - 2 shows the flow chart describing the functioning of the system.

WE CLAIMS:

1. A method of money transfer using the body heat fluctuation caused using colour coding on a plate representing digital number is used for transaction of money by being connected to body heat sensing device capable to identify the change in heat based on the color being touched on the plate an deciphering it to the virtual bank liked to the system for receiving the command and to make the necessary transaction of the money consisting of ; A Ciphered color embossed plate with the bank account details of the individual with a digit embossed digit keys to enter password; A heat sensing device to identify the heat fluctuation in the human body based on the color which is being touched; An analysis and computing mechanism that deciphers the color detected into the digits which is provided to the virtual wallet system designed to manage the money transaction. 2. The method as claimed in claim - 1, it has a ciphered color embossed plate designed with bank account details of the individual user that is touched to obtain the heat fluctuation in the user's body and each user will have a unique plate to perform the transaction online or offline. 3. The method as claimed in claim - 1, consist of a heat sensing device attached to the user capable to identifying the modulation in the heat to decipher the color coding into the numerical data required by the Virtual wallet for the transaction.

SIGNATURE

Dr Sachin Rajendra Suryawanshi

Š‡‡–1‘ˆ2

Dr Sachin Rajendra Suryawanshi

1 2021106789

2

A/C No. 3

ͳ ʹ ͵ 4 Ͷ ͷ ͸ ͹ ͺ ͻ

5 * Ͳ #

FIGURE – 1 : COLORED INPUT PLATE

Signatory

Dr Sachin Rajendra Suryawanshi

Š‡‡–2‘ˆ2

Dr Sachin Rajendra Suryawanshi A

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Signatory

Dr Sachin Rajendra Suryawanshi