• Hari. R
• D. Punitha

The study of a new form of payment that is both cashless and offline and yet tackles the problems of black money and is very secure, is what is introduced here. We can call this an open loop, stored value card system. The aim is not to replace cash or banks which we can never do. Every user is registered and given an NFC card, and a respective pin code. This card can be in any form like a credit card, or also simply a ring. This card performs the same role as a wallet performs to cash. The difference here is that this wallet is highly secure and money can be taken out only by the owner of the money. The money is stored inside the card in the form of an electronic record. We will store Rupee directly in the card. Money is transferred into the card from the bank, using an ATM like device that uses Internet connection. After the withdrawal, the amount is stored in the card locally (no database online). The transaction needs to have a third party (a POS device). This transaction would be both offline and cashless. The whole transaction also happens in a cryptographically secure way that there can be no hacking possible. The Internet is needed only for getting money from the bank (withdrawal). (abstract)

Offline payment, cashless payment, NFC payment (key words)

"Offline Rig - Offline and Cashless Payment ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 5, page no.9-11, May-2020, Available :http://www.jetir.org/papers/JETIRDV06003.pdf

"Offline Rig - Offline and Cashless Payment ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 5, page no. pp9-11, May-2020, Available at : http://www.jetir.org/papers/JETIRDV06003.pdf