Currency notes, coins, ATMs will soon end: Future Age Solutions

Future Age Solutions (FAS), a Singapore-based disruptive products innovation startup, is about to launch an innovative product called Digital Wallet, a payment device enabling peer-to-peer payments that work without internet, reaching even the remotest areas of the world.The Digital Wallet will eliminate or minimise the need for worldwide printing of currency notes, minting of coins, ATMs, and internet-based phone payment options. In addition, worldwide counterfeit currency business will come to an end, according to Vinod Khillan, Vice President of FAS.On an average, 10 per cent of the world economy is transacted in cash mainly for small payments through physical wallets. The idea of this invention is to replace the physical wallets with Digital Wallet.Digital Wallet, a handheld slim and tiny biometric device that works on fingerprint authentication, makes payments or transactions highly safe and secure in encrypted mode. Moreover, the total isolated private network, encrypted ...

from Markets https://ift.tt/2PfDLoi