Make your STUPID EV charger SMART and SAVE MONEY 🔋🔌🚗

Am testing a cable from a company called OHME its a very clever cable. It has a smart box connected to it with an inbuilt simcard. This allows it to turn any electric car charger, 3 pin socket or commando socket into a SMART charger. One way this can SAVE you money is allowing it to work with your energy provider for example octopus have a deal called Agile Octopus which has half an hour readings from your smart meter but there price also changes every half an hour meaning if your charger can turn off and on the charging when its cheap your save MONEY!

Ohme Cable will be for sale from octopus for a HUGE discount making it the cheapest 3 pin granny cable on the market, however this can work with any untethered EVSE charger or tethered if your willing to pay an electrician to hard wire it to your existing system.

This system is also able to talk to the cars API system at current it can do BMW, Tesla and Nissan however they are working to get the API for the Renault Zoe. Working with the API allows you and them to set the charge rate to stop at a given percentage.

My Personal Fav bit of the cable is to charge when it is GREEN, this lets you tell the cable you want to charge during LOW co2 on the grid meaning if your already a 100% green customer your also not creating extra demand on the grid meaning no coal needs to be fired up!

They also have plans in the future to see what your smart meter is exporting to the grid on solar energy and then tell your charger “hey the solar panels are exporting” this will then turn your charge rate up to match export.
Order an Ohme today at
or more info at

🐙🔌 £50 credit
💻 Check OUT EV’s Nick website list of recommended companies and products.
👕☕ Fancy an EV Nick Mug or TShirt

Channel all about Electric cars and battery powered devices, I seek to educate my self and you the audience every week with info i know from working within the car trade and information I learn being part of the Renault Zoe Owners Club

💸 Thanks to Leo Clarke, Glenn Hodnett, Benedikt Klees, Ian Hamilton and Victor Fitzpatrick for supporting the channel via patron!
————— Setup —————
📷 Shot in 4k Ultra HD
Filmed on a DJI Osmo + buy from amazon –

🎙Audio – Rode VideoMicro get it from amazon
ZoomH6 audio interface Thanks to Ecoplugg for the purchase of this if you need a charge point installing please give them a call and say “EV Nick” sent me.
Lapel Mic
Wireless Mic

💚 I use TubeBuddy Sign up with my link its a great product if you create content for Youtube


Portable chargers anyone? Unboxing and variety. Apple business ethics, decisions, money and greed


Mobile Phone Repair Tips To Help Your Save Money

For many people, getting your phone fixed or repaired is a very costly move. And so, whenever they get a cracked phone’s screen, dropped their phone in the toilet or their battery is no longer working, they usually just opt to buy a new one. However, having your phone fixed or repaired is actually not that costly only if you know the right thing to do.

Consumers have plenty of misconceptions which may either be grounded on some truth or are simply untrue. Specialists in mobile phone repair share some tips below on how to save money for your mobile phone repair.

In most cases, there is still a high chance that your phone can be repaired. So instead of actually buying a new one, just have it checked first so you will know your options. You can actually have your phone fixed. You can buy parts online and watch or read tutorials. But one key thing that you have to understand is that repairing a mobile device requires some technical skills and lots of patience.

Sometimes, it is more cost-effective to bring your device to a trained professional rather than experiment with your device. You can save time, money and effort, and expect better results. Additionally, premium brands have limited one-year warranties. And if your device is accidentally damaged, it is highly likely that the warranty has already been voided. Simply put, if you bring your device to a third party shop, you don’t have to worry about voiding the warranty because it already is.

And compared to service providers who will convince you to buy a new device, third party shops will try to do their best to repair your phone first before recommending to you to buy a new one. So you can really rely on their skills and knowledgeable before you are advised to buy a new mobile phone.

The cost of repairing your phone will depend on where you bring it as well as the damage your phone has. But if you consider the convenience and guaranteed results, in most circumstances, you are paying a small price to give your device a new lease on life. A lot of people underestimate the value of their devices. They forget the fact that when you sign a contract with a carrier, the carrier subsidizes the device. So if you think that phone repair cost is too pricey, know the real value of your phone first.

Lastly, there are some third party repair shops which have earned dubious reputations, however, there are also mobile repair shops, majority of them actually, are honest and provide quality service to their customers.


How to Recondition a Battery – Save Money, Save the Planet

Battery reconditioning is big business these days and it is only going to get bigger. Batteries are an environmental hazard containing many dangerous chemicals and many people not disposing of them properly.

While our society becomes more and more dependent of battery power year after year millions of old batteries are thrown away. However you don’t have to throw them away, in fact you can recondition them and bring the life back into any battery and reuse it over and over again.

First however many people have a misconception that recharging and reconditioning a battery is the same thing. They aren’t, when you recharge a battery you simply are adding a charge to the battery for a period of time, the more you do this the less they work to their full capacity and need to be charged more often.

When you recondition a battery you are restoring the battery back to its full capabilities. There are many methods around that can help recondition batteries depending on the type of battery you have.

There are companies out there that offer a reconditioning service or you can learn to do it yourself. To do it yourself is not difficult with the right tools and equipment however you should have a good understanding of the different types of batteries and how they should be handled before attempting any reconditioning.

One method to help recondition batteries that some people suggest is to put them in a freezer for 24 hours and then recharge them again. If you have a lead-acid battery these often will go a crystalline form if old or left to discharge for a long time, in this case you can get a specialized battery charger that shots a high current though the battery causing the crystalline to turn back into lead and sulfuric acid and bring the life back into the battery.

Some people have even created a home business out of reconditioning old batteries that they get for free and sell for a profit.


Beat the Printer Scheme and Save a Ton of Money on Ink or Toner

Before you buy another printer, make sure you read this article. The printing manufacturers actually do not make any money on the printer itself. Instead, the real profits are made on the ink and toner. In general, the cheaper the printer, the more you will get gouged when it comes to replacing cartridges. But this is not always the case. The high end printer manufacturers are ready and willing to jump deep into your pocketbook. And if you let them, they will stay there for very long time.

The Microchip Scheme

The primary way in which the printing companies gouge your pocketbook is by placing a small microchip on the ink or toner cartridge. The cartridge will stop working when you print a fixed number of pages (usually around 5,000) even if you have plenty of supply remaining. Sometimes the chips are also programmed to stop working after a fixed period of time (eg, six months) regardless of how many pages you have printed. The chips are usually patented so as to guarantee that you will always buy a new cartridge from the original manufacturer.

Just to illustrate how expensive it can be to buy the wrong printer, here is a personal example. I fell for HP's marketing scheme and bought a "low cost" HP 1500 Color Laser Jet two years ago for $ 499.00. I just checked with and the cost of replacing all the toner cartridges and drum including tax (free shipping) is $ 597.33.

Is there a way around this?

Yes! If you do not have a chip on the cartridge then you can simply look on the internet and find a refill kit. This will work quite well. However, as a general rule, printing quality will decrease after approximately five refills.

If you have a microchip on your cartridge, there are a couple of options. First, with many cartridges you will be able to find a "chip reset" kit on the internet. Buying ink or toner and a chip reset kit is usually much cheaper than replacing the cartridge. You will be able to use the reset kit over and over again, so it will pay for itself. If you can not find a reset kit for your cartridge, you can probably find a replacement chip. The microchips are usually glued on the side of the cartridge, so you can just pry off the old chip and glue on a new one.

The "Nuclear Option"

I saved the best for last! If this works, it is your best option, but you might have to do a little bit of internet research on your specific printer. What the printing companies do not want you to know is that there is usually a way to configure your printer so that you are able to reset the chip memory. In some cases, you can completely disable the printer's use of the chip. Getting back to my HP 1500 Color LaserJet, I was able to do this by holding down the big green button for 20 seconds when the power is turned on. On this printer, this causes what is known as a "hard reset" of all internal memory settings. Whereas I should have been forced to replace all of my toner and the drum, I have now been printing for months in normal operation without a glitch and with no error messages!

Unfortunately, there is no guarantee that you will be able to reset, replace, or bypass the microchip on your printer's cartridge. Every year, it sees that the printer manufacturers become more and more skilled at preventing you from taking charge of your machine. However, now you are armed with a little bit of knowledge – and knowledge is power. The next time your printer runs out of ink or toner, do not be so eager to go out and buy a new cartridge. Remember, if there is a way around it, you can find it! The personal satisfaction you get in saving money and beating them at their own game will put a little bit of excitement in what might have been a depressing and costly situation.

Copyright 2006


What's Your Money Secret?

You're hiding something …

That secret recording, your secret recipe, your secret crush, or your secret talent! Everyone has a secret. Even in money matters. In fact, only a few people would really know your actual money records, spending habits, or financial history – and for sure there are one or two financial matters that you have been keeping to yourself … unknown even to your life partner. You probably had a spending or credit memory you've been wanting to forget; Unfortunately, for money matters 'past is past' does not really apply strictly.

When was the last time you asked your partner about his spending history or give him or her feedback about his or her appetite money habits? Probably a long time ago if not never. According to the book Get Financially Naked, How to Talk Money with your Honey by Manisha Thakor and Sharon Kedar, money is one of top causes of arguments in marriages, top reasons for divorce, and top drivers for general life stress. Generally, men have fairly different spending habits vs women – and I'm sure a lot of women would agree, with their heads nodding. It is usually from illogical and tactless spending behavior and money habits that most of our financial mishaps or failures root, typically giving birth to financial secrets.

But what are the common money matters we keep from people around us, even to our partners. Here's an interesting list of the money secrets based from our interviews.

Closed Card

You were probably young, and wild, and free back then when spending through a credit card was hyped. It started when you've established quite an impressive credit or salary record enough for you to qualify for a credit card. Whether you applied for it, or it was just delivered straight to your house or office address, this ultra-powerful plastic card was once on the hand of the wrong person – you! Thinking it was a bottomless gift from the skies, you've probably made uncontrolled and unnecessary purchases. Just amazing! In the beginning, the bills look really small, and they do not even move a fingernail. But time and persistent bad habits are not the best of friends. After making payments, your credit card bills do not seem to be affected, and they just continue to be tougher than you were back when you're almightily spending. Then, powerless, these card bills take over your regular spending habits and your usual utility bills have then multiplied with the card company's contribution to the pie.

Needless to say, a good chunk of credit card users who have lost control over their expenses and have been overpowered by the plastics have sunk into the deep irresponsible card usage trap, resulting to debts with continuously growing interest rates and penalty charges. A few have been trying to forget this sad experience, but I bet they never did.

Midnight Purchases

This pertains to your purchases which are unknown to others even to your better half, probably because it was purely unnecessary, irrational, illogical, or even illegal. For instance, boys and husbands purchase gems, diamonds, and / or steam for their online games – while some may be unfamiliar with these, guys, especially gamers, would know these and would have probably had the experience purchasing them at some point in time to advance in whatever game they play. Of course, these can be considered unnecessary, especially when you are in a tight budget. Extravagant shoes or bags which you do not really wear or use could also belong to this section.

Deadly Debt Cycle

Have you ever borrowed money or applied for a loan to pay another loan or a credit card bill? Of course, you have! With or from a relative, a friend, a neighbor, or an actual financial institution, you could have attempted to resolve debts through borrowing once again. Going for consolidation of debt through a cash loan is not a bad route at all, by the way. But in essence, if not properly calculated and assessed, your consolidation attempt could lead to more difficult circumstances and further financial struggles.

The short-term sporadic survival within the debt cycle is certainly relieving, but may also just be keeping you in the gloomy zone longer than you should have, had you executed enough effort to pull yourself out of this financially disastrous situation. There are institutions out there who can help – but a trusted friend or family member can absolutely help you make the first step in ending the cycle, through their support and your sincere efforts.

Bamboo Bank

Heard about our kababayan who made a piggy bank out of a bamboo tube? In case you do not know the end of the story, all the paper denominations were destroyed by weevils. The insects almost powderized all the cash inside the bamboo coinbank. Good thing he was able to salvage a few and had those replaced in a government institution with the help of a television program team.

Many of us have a secret piggy bank slot or spot at home or in our cars. Be it in the window, under the bed mattress, somewhere in the kitchen, or any place where no one would probably guess money would be placed in. Unfortunately, in many occasions too, we tend to forget where the actual spot was. Sounds family? But beyond forgetting the actual spot where your money was placed, these money sitting somewhere and not saved in the bank or used in any type of investment, are considered underutilized and may actually come out with a diminished value later, partly influenced by inflation and other factors. Your five thousand pesos today might only retain 98% of its purchasing power in the future. Frozen money does not really aid in the economy as well, without circulating in the communities.

But do not get me wrong – short term saving in piggy banks is good and the habit is definitely encouraged, but saving in banks and investing are particularly better options, especially long term.

Awareness is golden, and so it is highly recommended that you realize your money secrets, revisit your purposes, and review the impact of those to you, your life, and your family and friends. Reveal these secrets to your dearest friend or spouse to seek for support or help. Remember, in many major decisions in life affecting people around you, your financial standing, capability, and habits are of importance. Without facts on actual state, yours or other people's decision may be pessimistically impacted. The truth hurts, but it will set you free. And with freedom comes peace, and peace contributes to better decision-making.

Secrets do not necessarily mean problems. They just have to surface not just to our conscious mind, but to our finnishly literate self, as well, to be improved or be addressed in the right manner – because, again, in money matters, 'past is past' does not always apply.

For questions or comments regarding this article, please email .

Tags: , ,

TOP 5 Portable Chargers Value For Money In 2020

TOP 5 Portable Chargers Value For Money In 2020

Please Subscribe Us:

1. Anker PowerCore –

2. Jackery Pop Portable Charger –

3. id America LED Portable Charger –

4. Letv 13400mAh Portable Super Power Bank –

5. Aukey power bank –

Aliexpress Global:

If you found this video valuable, give it a like.
If you know someone who needs to see it, share it.
Leave a comment below with your thoughts.
Disclaimer: The footage in this video was created as promotional/educational material. If you are the creator or owner of the footage and have reservations please notify us via YouTube comments or email and we will accommodate you.


How to Make Money Online: Using the Internet to Quit Your Job

Being employed can be frustrating if you feel like you are at a dead end job or you just don’t like what you’re doing.

Having to deal with the constant demands and feeling like you’re not appreciated for your good deeds or hard work.

Heading to work every morning only to be frustrated by the constant load and wear and tear can really get frustrating.

There are many people who have quit their jobs to end up leading comfortable stress-free lives because they took the time to step outside of their comfort zone and seek other sources of income on the internet.

While there are numerous ways to making money online today I wanted to discuss various ways you can begin with your own online business.

Discussed below are five common ways of how to make money online.

Become a Freelancer

One of the fastest and easiest ways is to become a freelancer.

The web has made life simple; everything is now a click away.

There is always someone somewhere in need of a professional service.

You can quit your job, use the internet to not only do what you enjoy, but also charge others for it.

You don’t have to be trained in some areas, if you have a talent in design, you can easily offer design services to clients through the internet, get paid and smile all the way to the bank.

The freedom that being independent brings can be life changing; you choose your own hours, clients, and when you want to take a break.

It gets better; all this while you can opt to do it in the safety and comfort of your home.

Start a eCommerce Business

eCommerce is gradually replacing the conventional way of buying and selling items.

People are too busy to head to the shopping malls anymore or just enjoy the convenience of shopping from home.

Online shopping is a multi-billion dollar yearly business you can tap into.

This is another way of how to make money online because you can offer to fill the gap between the product, demand and supply.

It is simple; get the customer, have the payment done online and arrange delivery of the goods.

You can deliver anything today to any part of the world.

You don’t however have to think global; how about trying something local, even in your neighborhood.

Use the internet to find the need and offer a solution, it can be as simple as finding a better way for people to buy groceries.

Try Out Internet Marketing

If you don’t have a product to sell, you can opt to sell other people’s items and earn a commission through affiliate marketing.

There are many affiliate marketing programs on the web that anyone can join for a chance to generate leads or sell for a piece of the profit.

In most cases, such programs are very flexible, allowing you to work at your own pace.

If you are out searching on how to make money online, this is a highly recommended starting point.

There are many other internet marketing solutions you can use to make a few extra bucks like PPC, ClickBank, Email Marketing, and MLM to name some things.

Teach Online

Everyone can be a teacher, but if you are a good teacher, the world is hungry for knowledge.

Do you know a foreign language, say Chinese?

You can offer to teach English to non native speakers.

There are many “how to” queries people check on the search engines daily that you can capitalize on if you are conversant with the subject.

If you work in a bakery, quit your job and use the internet to teach how to bake, for example.

The bottom line is; the internet offers an ocean of opportunities to all.

There are no special entry fees or requirements.

Just a deep desire to succeed and the will to never quit.

Constantly learn, grow, and apply the techniques you learn daily to get your business to where you want to be.

There are many ways you can use the internet to earn a few extra bucks or to sustain a job free lifestyle for your own convenience.

Get started today.

Best Wishes!


Top 10 Best Fastest Wireless Chargers for iOS and Android Value For Money

Top 10 Best Fastest Wireless Chargers for iOS and Android Value For Money

Best Wireless Charger List:
1. RAVPower’s Wireless Charging Pad

Amazon US:

2. Anker PowerWave Wireless Charging

Amazon US:

3. Samsung Galaxy Wireless Charger

Amazon US:

4. Blitzwolf wireless charger
Amazon US:

5. Belkin BOOST?UP™ Qi Wireless Charger
Amazon US:

6. CHOETECH Wireless Charger
Amazon US:

7. Nillkin Fast Wireless Charging Stand
Amazon US:

8. Plux Wireless Charging Stand
Amazon US:

9. iON Wireless Fast Charging Pad
Amazon US:

10. AUKEY LC-Q4 Wireless Fast Charger
Amazon US:

Amazon UK:

Amazon CA:

Disclaimer: The footage in this video was created as promotional/educational material. If you are the creator or owner of the footage and have reservations please notify us via youtube comments or email and we will accommodate you.


Study on Electronic Money


Commerce reiterates all the activities surrounding the purchase or sale of goods or services. As we step into the next century, the Internet promises to bring unpredictable change in the society. Spanning the entire globe, crossing all boundaries, the net has redefined the methods of communication work, study, education, interaction, Entertainment, Health, Trade and commerce. There are some activities in commerce such as marketing, sales, payment, fulfillment, customer service etc.

Electronic commerce is the application of communication and information sharing technologies among trading partners to the aim of business objectives. Electronic Commerce is associated with the buying and selling of information, products and services via computer networks.

Electronic Commerce is a new way of conducting managing and executing business transactions using computer and telecommunications networks. Electronic Commerce reiterates the paperless exchange of business information using EDI (Electronic Data Interchange), Electronic Mail, EFT (Electronic Funds Transfer) and other networks based technologies. Electronic Commerce applications started in the early 1970s, with such innovations as EFT.

Objectives Of The Study:

Purpose of the study is to diagnose the state of efficiency in itself and trace out the factors responsible for lower or higher efficiency in discharging various operation and activities of analysis in Electronic Money security.

1. To review rational and motives underlying term lending agencies in the present day complex mechanism of Electronic Money.

2. To analyze the institutional and organizational constraints hampering efficiency, efficiency and effectiveness of Electronic Money.

3. To assess their quality performance through structural analysis.

4. To examine the impact of new business policies and liberalization on these Electronic Money.

5. To study and analyze the security of Electronic Money transaction.

6. To suggest possible remedies for these institutions to halt their present declination trends.

7. To suggest the techniques for lending to higher growth of Electronic Money security.

Advantages Of Electronic Money:

Digital cash will allow for the immediate transfer of funds from an individual's personal account to a businesses account, without any actual paper transfer of money. This offers a great convenience to many people and businesses alike.

Banks can offer many services wheree a customer can transfer funds, purchase stocks, and offer a variety of other services without having to handle the physical cash or checks. Customers do not have to wait in lines, and this provides a lower hassle environment.

Disadvantages Of Electronic Money:

Although there are many benefits to digital cash, there are also many significant disadvantages. These include fraud, failure of technology, possible tracking of individuals and the loss of human interaction. It is very common that almost all systems have drawbacks. However, the question that needs to be asked is whether the advantages of using the system overpass the disadvantages.

Fraud over digital cash has been a pressing issue in recent years. Hacking into bank accounts and the illegal retirement of banking records has led to a widespread invasion of privacy, and has promoted identity theft.

There is also a pressing issue in regards to the technology involved in digital cash. Power failures, loss of records, undependable software often cause a major setback in promoting the technology.

Fraud over digital cash has been a pressing issue in recent year. Hacking into bank accounts and illegal retirement of banking records has led to a wide spread invasion of privacy and has promoted identity theft.

Power failures, loss of records and undependable software often cause a major set back in promoting the technology.

Frame Work Of Electronic Commerce:

Many people things Electronic Commerce is just having a web site, but Electronic Commerce is much more than that. There are dozens of applications of Electronic Commerce such as home banking, shopping in online stores andalls, buying stocks, finding a job, conducting an auction and collaborating electronically on research and development projects.

To execute these applications, it is necessary to have supporting information and organizational infrastructure and system.

Electronic Commerce applications are supported by infrastructures and their implementation is dependent on four major areas such as


2.public policy

3.technical standards

4.protocols and organizations

Peoples – Buyers, sellers, intermediaries, services etc.

public policy – Taxes, legal, and privacy issues, domain names.

technical standards – For documents, securities, and network protocols.

Organizations – Partners, competitors, associations, Govt. services.

There are some other area of ​​Electronic Commerce infrastructure such as

1.Common business services infrastructure – security smart cards / authentication, Electronic Payment, directories / catalogs.

2.Messaging and information distribution infrastructure – EDI, Electronic Mail, HTTP.

3.Multimedia content and network publishing infrastructure – HTML, Java, WWW, VRML.

4.Network infrastructure – Telecom, cable, TV, wireless, Internet, WAN, MAN, LAN, Intranet, Extranet.

5.Interfacing infrastructure – To databases, customers and applications.

Electronic Money System Model:

The e-money system is a mechanism that facilitates payments – generally of limited value – in which e-money can be considered as an electronic surrogate for coins and banknotes. The e-money system is described on the basis of a model with a set of sub-systems through which electronic value (EV) is transferred, under the responsibility of a System Supervisor who monitors the security of EV creation, EV extinguishment and EV circulation within the system.

The three main elements which make up our e-money system model are EV, EV circulation between sub-systems and supervision. Put together, these elements measure the core of the e-money system model. The notions of transactions, compensation, EV life cycle and actors then complete this model.

EV is a monetary value represented by a claim on an EV Issuer, which is:

– stored on an electronic device;

– issued on receipt of funds for an amount not less in value than the monetary value issued;

– accepted as a means of payment by undertakings other than the issuer.

The EV circulation starts with a first phase called EV creation, and ends with a final phase called EV extinguishment.

This model does not imply any restriction on the number of sub-systems that form an e-money system.

Transactions On The Internet:

All the transactions on the internet take place using the customer's personal computer and the seller's web server. Customers use a web browser to place on order with the merchant and specify their mode of payment. In the case of an online transaction the customer has the option of paying by credit card or smart card the customers can also to pay using electronic cash or a digital cheque. The software on the seller's server has to verify the order and has to settle the transaction by receiving authorization for the transfer of funds from a bank or the credit and acquirer. It is possible that the applications on the customer's, merchant's and bank's are not the same. The interaction across this step is achieved using a gateway, which is a link between applications.

The gateway allows for protocol conversion and communicates with the bank using the bank's private network or the internet. Gateway, more specifically common gateway interface (CGI) is a specification for communicating data between an information server, for example server, and other application. CGI is used where the web server needs to send or receive data from another application, such as database. A CGI script is a program that negotiates the movement of data between the web server and an outside application. It typically passes data, filled in by the user in an HTML form, from the web server to a database.

Payment System:

In any business transaction, the customer and merchant enter into an agreement. According to this agreement the merchant supplies the goods and services that the customer requests for while the customer transfers funds to the merchant in lien for the goods received. Thus the payment is the most important part in the sales cycle.

The general requirements of payment system's are-

(1) Confidentiality – the user expects a secure system of payment.

(2) Authentication – A method to verify the buyer's identity before payment is authorized.

(3) Integrity – It ensuring that information will not be accidently or maliciously altered or destroyed during transmission.

(4) Authorization – It allows the merchant to determine if the buyer actually has funds to pay for the purchase. The merchant verifies that the customer's bank account has sufficient balance to honor the cheque amount.

(5) Privacy – There may be situations where both the customer and merchant would want to ensure the privacy of sale. example – a business conducting research might not the details of its purchases.

Types Of Electronic Payments:

The various methods that have been developed for making payments on the internet are electronic versions of the traditional payment systems that we use everyday. In our daily life we ​​use cash, credit cards or checks to make payments. All these systems are digitally incorporated on the web as e-cash, electronic checks and credit cards.

(1) Credit Card:

Credit cards are the most popular payment method for cyberspace customer shopping today.

(a) The card holder- A customer or a corporate purchaser who uses credit cards to pay merchants.

(b) The merchant- the entity that accepts credit cards and offers goods or services in exchange for payments.

(c) The card issuer- A financial institution that establishes accounts for cardholders and issues credit cards.

(d) The acquirer- A financial institution that establishes an accounts for merchants and acquires the vouchers of authorized sales slips.

(2) Electronic Wallet Or Digital Wallet:

Secure electronic transaction (SET) protocol was initially designed by visa and master card in 1997. SET protocol meets the four security requirements for EC as SSL does: authentication, encryption, integrity and non-repudiation. In addition, SET defines the message format, certificate format, and procedure of message exchange. The role of payment gateway is to connect the internet and proprietary networks of banks. Each participant entity needs its own certificates. To keep the consumer's certificate in his or her personal computer or IC card, software called the electronic wallet or digital wallet.

(3) Debit Card:

It is also known as check card, is a card that authorizes the EFT. EFT, designed to transfer a certain amount of money from one account to another. The customer's terminal can be automatic teller machine (ATM), PC, or telephone terminals. When we use a debit card, the amount is immediately deducted from our checking or savings accounts. The debit card allows us to spend only what is in our bank account.

Advantages Of Using Debit Card:

1.Obtaining a debit card is much easier than obtaining a credit card.

2.Using a debit card instead of writing checks saves you from showing personal identification.

3.Using a debit card frees we are carrying cash, travelers checks or a check book.

4.Marchants accepts debit cards more read more than checks.

(4) Smart Cards:

At present we carry many plastic cards such as credit cards, debit cards, charge cards, diving licenses, health insurance cards, employee or student identification cards and other.

Now for a moment if we think that all these cards are replaced by a single plastic card carrying all the information of the dozen or fifty cards. Not only dose it lighten our load, it makes identification and purchasing easer for us. Credit, debit and charge cards currently store limited information about us in a magnetic stripe. And unlike a smart card, a credit card dose not contain cash – it only contains a number of an account that can be charged.

A smart card can store hundred times more information than a magnetic striped plastic card. A smart contains private user information such as financial facts, private encryption key, account information, credit cards numbers, health insurance information and so on. The current generation of smart cards includes IC chips with programmable functions.

(5) Closed Vs Open Electronic Cash System:

Electronic cash system can be either closed or open.

A closed system implies that the cash value in the IC card can only be recharged from a banks accounts, and the used money, which was collected in the memory of the IC card readers will be transferred to the receivers bank account. The direct transfer between IC cards is prohibited.

In open system allows direct transfer of money value between IC cards. Because Govt. are afraid of the risk of lost traceability money laundering.


Nowadays the traditional bills and coins are giving way to the electronic money. With the wide spread of Internet this transformation is inevitable. It is obvious that digital cash is the future of exchange mechanism. It will certainly condense many of the prevailing inconveniences such as carrying large amount of cash and will resolve many of the in-security issues experienced today. The electronic money would not only be quicker and cheaper but also more robust and easy to authenticate. People would not be apprehensive in using it as it will respect their privacy and will allow even small merchants to carry out the business all over the world. The digital cash will also reduce the cost of transferring the money internationally, which is quite expensive at present. The electronic money will not replace the traditional form of transaction completely but will facilitate it surely.