What is money pad,define money pad ,their working ,uses?
Money Pad is a method developed by Tobias Wong for binding bills (usually of one or two dollar denominations) so that they can be easily carried around, and torn off the pad whenever needed for payment. Another type of Money Pad is a futuristic wallet that operates like a credit card or smartcard, automatically verifying the user’s identity before issuing cash debits: “Money in the 21st century will surely prove to be as different from the money of the current century as our money is from that of the previous century. Just as fiat money replaced specie-backed paper currencies, electronically initiated debits and credits will become the dominant payment modes, creating the potential for private money to compete with government-issued currencies.” Just as every thing is getting under the shadow of “e” today we have paper currency being replaced by electronic money or e-cash. Hardly a day goes by without some mention in the financial press of new developments in “electronic money.” In the
