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[Category : - ELECTRONICS- HUMAN NECESSITIES- Indentification and payment methods]
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1 My invention is about universal ATM card which is based on FPGA. And the idea is to combine all the bank's ATM card to single ATM card.
2 It will solve many problems like in India there is 120 crore people about 20 crore people are having ATM cards of different banks assuming minimum average value of 3 ATM cards to each person equivalent to 60 crore,mean 60 crore ATM is getting charged 100 INR separately as a various taxes in a year.
This universal ATM card will save that extra amount to be paid yearly by 60 crore mean 60 multiply by 100 = 6000 crore yearly,That is going as Taxes from People.
3 It will provide comfort to user for caring only one ATM card without paying full taxes while journey.
4 FPGA is more secure than existing system.
5 some time your wallet is getting theft and there is 5 ATM cards you need to call every bank for blocking card so if you have this universal ATM card you have to only block this Master card.
6 It will also reduces corruption by direct monitoring of all the accounts under universal ATM card by Income tax department.
7 All the existing facilities can be utilize with this Universal ATM card.
8 The main benefit is people will feel free and save money while carrying only single ATM card in place of multiple for different banks.

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Page created at 2020-08-05 21:03:09, Patent Auction Time.