Electronic wallet with a touch screen and fingerprint scanner designed to protect all contents of the wallet in a highly secure manner.
Electronic wallet with a touch screen and fingerprint scanner designed to protect all contents of the wallet in a highly secure manner.
Electro-Wallet has been a project I have been working on for 3 years now. This is my first time designing something this spectacular. It all started on new years eve midnight 2011, when my friends and I were robbed and had our wallets taken. The robbery was not the bad part, the worst part was calling and cancelling my debit card and all my credit cards. Then I had to re-order them all which took about 2 weeks to get to me, my identification card took the longest because with an ID your option of doing things are very limited. So I came up with and idea to solve this issue, with E-Wallet all your personal cards and cash are completely safe. Its has a stainless steel body with a LED touchscreen, It has a cash storage compartment located on the back of the wallet. The wallet has fingerprint recognition technology for access to your cards and cash storage. E-Wallet has a built in tracker that tracks your wallet if its ever lost or stolen. Besides being THE FIRST OF ITS KIND E-Wallet has some AMAZING FEATURES that will surely grab your attention.
For the last 3 years i have been designing and perfecting this brilliant idea, now I am ready for the next step MANUFACTURING!
The project has been a work is progress from finalizing the drawings to getting the funds.Thanks to the help of some good credit I was able to get a loan and have a company called Invention Home help me build a 3D prototype and Patent my idea that was 8 months ago. I built a presentation with the 3D photos of my wallet and some of my sketches.
Now it is time for the next step manufacturing, In early April I attended a trade show in Orlando, FL. I have never seen so many manufacturing companies in one location. There I presented my Idea to multiple manufacturing companies, and I was able to find a company that can and will to build it for me Letsky Innovations. They have thoroughly reviewed my idea an ready to get started ASAP. Once the project is funded the estimated completion time will be 4 to 6 months for manufacturing the wallet granted there are no issues along the way. They are a team of very dedicated engineers and designers that are hardworking and ready to take on the project.
Now to tell you more about Electro-Wallet!
- Describe the purpose of the idea/invention by explaining who would use it and how?
- The purpose of Electro-Wallet is to provide safety and security to the people of the public. It is designed to be completely versatile, indestructible, and stylish. E-wallet would be useful to people in big cities or even small towns who carry everything in their wallets, like social security cards credit cards driver license or anything of value to them. These items are very valuable to their owners and in the wrong hands can ruin someone’s credit score, steal all their money, become a victim of identity theft or even worse ruin someone’s entire life. Electro-Wallet is made of stainless steel and completely durable and it is very light weight and easy to carry around with you. E-wallet is for everyone from a business man to gardener or a business woman to a cosmetologist. It’s stylish and durable easy to carry in pockets and purses or however you want to carry it.
- . Describe the problem that the idea/invention solves for the user and explain why it is necessary?
- The problem that Electro-Wallet solves is it provides a peace of mind to the public people. It prevents thieves from stealing your debit card and spending all your money or keeps you from becoming a victim of identity theft once stolen. I believe this is necessary because it will help our economy and keep our personal belongings safe if stolen. It is necessary because I think it will help bring down identity theft and senseless mugging crimes in our big and small town areas down to a record low. Once this product becomes popular it will have the world buzzing and have thieves thinking twice about mugging and trying to steal wallets. E-wallet will minimize these senseless crimes and keep our valuable cards safe.
- Explain what the idea/invention looks like:
- Electro-Wallet is completely 100% stainless steel and it has a built in touch screen that allows easy access to your wallets contents. E- Wallet is very light and can easy travel anywhere; it is 4 inches in length 3 inches in width and about ½ inch to ¾ inch thick. It has a built in card loader at the top so users can load all their personal cards, from credit cards, debit cards, social security cards, reward cards, medical cards identification cards, insurance cards and even business cards. It has a standard charger located at the bottom of the wallet for charging and syncing with the compatible devices. It has two led lights located at the top for easy viewing of the cards and also could be used as a flashlights where ever needed. Electro-Wallet also has a money storage located on the back of the wallet and can be accessed with your thumb print once setup, the compartment will hold about 6-10 bills and will slide down once opened. The power button is located on the right side at the top of the wallet, the card return button is located on the left side at the top of wallet and the led lights button is located on the left side at the top of wallet.
- Explain in detail how the idea/invention works:
- With Electro-Wallet you can load all your cards, checks or even social security cards and they will be completely protected from thieves, fire and even water. With its stainless steel body it is impossible to break into without your thumb print on the touch screen and your 4 digit pass-code. You can load your cards through a system I like to call the loading process; example, let’s just say the first card you want to load is your identification card, load the card into the wallet and the card is locked in an assigned and name location in the wallet; need another example just load your debit card into the wallet and it is locked in an assigned a name a location in the wallet. Just keep doing that until all your cards are loaded and has a specific location. To retrieve a card from the wallet simply press the power button and touch the screen with your thumb print and once into the wallet select the card you want to retrieve and press retrieve and your card exits from the top of wallet. This product is completely safe for children and elderly people; it has a built in tracking device which allows you to track where your wallet is through your smart phone, smart tablet, desktop computer, and any compatible device. If ever lost or stolen just check your compatible tracking device and call the local authorities to retrieve it with all your personal things untouched and completely safe.
- What makes your idea/invention unique or better than other products?
- What makes my idea unique is the fact that everyone wants something to make their lives easier and this idea will do just that. Now a days everyone has something electronically, a smartphone and smart pc even smart TV’s are taking over the market so why not have and electronic wallet that provides safety and security but most important style and call it Electro-Wallet. This product is unique because there are very few if any electric wallets on the market today and I think the world will be ready to see this product on the market, it will be a whole different level than any other wallet out there today. E-Wallet is a digital wallet that allows for safe carrying of your cards and money and cannot be accessed without your thumb print. Electro-Wallet will be the future of wallets one day; it will take the market by storm and have everyone wanting to buy this new stylish electrical wallet.
How does Electro-Wallet work?
- Provides both men and women with a fully secured electronic wallet.
- Features a fully-digital color touch screen in order to access all components of the wallet.
- Electro-Wallet is composed of 100% stainless steel.
- Utilizes a thumb fingerprint scanner in order to gain access to up to 20 different cards such as driver’s license, credit cards, and more.
- Includes a back compartment to hide and secure various amounts of cash.
- Ensures all valuable items carried within the wallet are safe until the user has need of them.
- Electro-Wallet has a built-in tracker, which allows for tracking of the device.
- E-Wallet has RFID blocking technology that protects against wireless identity theft an RFID skimming.
- This Device has a Mobile App which allows for secondary controlling of the wallet.
- Display & Touch Screen $44.00-$63.00
- Sensors $6.50
- Cameras $18.00
- Battery $4.50
- Wireless Radio $5.00
- Packaging $7.00
- Power Management $8.50
- Mechanical Parts $33.00-$41.00
- Processor $17.50
- Fingerprint Scanner $4.00
- Stainless Steel Sheets $6.40-$12.00(per sheet)
- Production $8.00
- Flash Memory & Ram $20.85
- Total price between $175-$215(per device minus software)
- Customer- The customers will benefit from this wallet because it stores their personal items securely until needed. This device is a novel and simple safeguard against identity theft and thievery. So your belongings are always safe and never out of sight, even if stolen, the thief can’t break into, thanks to its Stainless Steel body w/LED display Touch Screen and built in tracker.
- The Business- The biggest beneficiary is the licensee; this idea has potential to bring massive income and to really generate a buzz for a business name. The possibilities of this device are both market-expansive and technologically evolvable. Electro-Wallet is an innovative idea that can benefit a perspective license holder by providing a revenue stream for the company.
- The consumers need Electro-Wallet. It will keep their personal cards and cash safe while traveling, working and in public.
- Many wallets are stolen every year and the victims never see their wallets again or get their personal belongings back. That can change with Electro-Wallet. Imagine losing your wallet or getting it stolen and then being able to know its exact location and get it back!
- Revenue! This product will bring revenue and create a competitive edge over its opponents. Electro-Wallet provides much needed protection that smart phones, ordinary wallets, laptops, and other electronic devices.
- Electro-Wallet is the first of its kind!
- Just around the average cost of Smart Phones($337.00) and below the average cost of Smart Tablets($532.00)
- Electro-Wallet is a self-sufficient tool that can replace the function of antiquated wallets and purses.
Problems That Electro-Wallet Solves?
- Size- E-Wallet is very compact in size with the dimension 4in x 3in x 1/2in for the wallet with the cash storage.
- Versatility- E-Wallet can fit just about anywhere you would like it to go, in your back pocket, also your jacket pocket and for the ladies your purse or even your small handheld clutch. It’s very lightweight and capable of withstanding almost anything.
- Security- With a stainless steel body and an indestructible touchscreen with fingerprint access E-wallet is hands down the most secured wallet on the market. It also has a fingerprint access cash storage if you decide to choose that model. Only the owner of the wallet will be able to access it.
- Tracking- Loosing or getting your wallet stolen is very frustrating and costly. E-wallet has a built in tracker which allows for retrieving if lost or stolen by a thief. The wallet can be tracked via any smart device that has the downloaded app.
- RFID Blocking Technology- Electronically stealing people’s personal cards information and identity has become a reality no so we have to protect ourselves. With RFID blocking technology installed in the wallet you are safe from thieves.
- Organization- E-Wallet stores and organizes all your personal cards and cash within the wallet and can be accessed using the touchscreen. No more searching thru purses or ordinary wallets looking for a specific card to pay with or digging for cash.
Problem Solving Facts!
UK Life Assistance Firm CPP did a 5 year study on stolen or lost wallets and money lost from stolen or lost wallets
- Over the 5 year period 9 million wallets were either stolen or lost
- 1 in 5 were returned to the original owners, 55% without the original contents
- Over 75% will never see their wallets again
- Most people will spend more than 110 hours replacing debit, credit cards and item lost within the wallet
- Over $1,181,772,000 will be lost
- U.S Department Of Justice also did a study
- Credit card theft has gone up 31% in the last 3 years
- 4 million nearly half of ID theft victims occur from credit card theft
- Electronic pick pocketing has also risen in the last three years making more victims vulnerable to ID theft
- By 2016 projected 1 billion RFID enabled credit and debit cards will be issued to holders susceptible to pick pocket
- Victoria Police Chief Commissioner Ken Lay said “there were 11,000 more credit card deceptions than the previous year, chewing up and enormous amount of police resources”
- Queensland fraud and cyber-crime detective Brian Hay said “all a criminal needs is a little technical know-how and a $130 trip to the electronic store”
Electro-Wallet has many useful features that will come in handy and make using your wallet very simple and easy. Besides it being the first of its kind Electro-Wallets look is only the tip of the ice berg its features are the center point.
- Fingerprint Scan- Like most electronic devices manufactured in 2012+ it’s a new way of unlocking your device by simply scanning your finger print. Electro-Wallet does exactly the same thing, it has a built in thumb scanner located on the front and back for easy secure access to the contents in the wallet.
- Built in Tracking- Similar to a cell phones GPS system if your wallet is lost or stolen you have the ability to track it down and retrieve it or let the local authorities know it has been stolen so they can retrieve it.
- Phone App- This is great in case you need to change settings or if the screen of your wallet is damaged and you cannot access the wallet via the touchscreen. Or if your battery goes into critical mode and the LED screen is turned off to save power.
- Special Screens- Designed for quick access of your identification cards in case just showing them from the wallet screen is not evidence enough. Just swipe up on the screen when you’re in the viewing mode to retrieve ID card directly from viewing mode.
- Alert Mode-This mode can range from anything as simple as, letting you know when your phone and wallet are separating or when the balance on your credit card is getting high. Also you can set budget alerts in this mode ideal for when you are out and about so you will not over spend.
- Touch Technology- Allows the transfer of business cards electronically similar to Samsung’s S Beam. By simply touching Electro-Wallets you can transfer your business card to another peer and the business card stores in your wallet and vice versa.
- Bar-code Bar- When you want someone to have your business card and you have none on you just simply pull up your business card on your screen and it turns into a bar-code so anyone with a smart phone can scan it getting your business card electronically(ideal for going green).
- Deactivate Mode-This is an emergency mode to protect your belongings inside the wallet if lost or stolen, by simply going on your mobile app and activating deactivate mode. All this does is completely shut down Electro-Wallet until the owner themselves reactivates it. You will not be able to do anything with the wallet once it is in this mode great for stolen wallets so the thief cannot do anything with it.
- Lock Mode-This is great for those who over spend and spend when they are not supposed to. In this mode you can lock 1 or more cards for a certain period of time. This prevents you from retrieving that specific card from your wallet. This is good for unexpected mall trips and shopping, or a night out with the friends.
- NFC Payments- Easy at the counter payment without retrieving a card from your wallet just simply choose the card you want to pay with and touch the pad (you can choose which card via mobile app or the wallet itself). Similar to Androids NFC Payment system.
- Critical Mode- This mode keeps your wallet from completely dying by turning off the touchscreen to reserve power. This mode last 24 hours giving you plenty of enough time to charge. Once in this mode you will only be able to view and retrieve the cards via mobile app. Your cards are still retrievable from the wallet even though it is in this mode. This is ideal for someone who forgot to charge their wallet and has need of it for a busy day; this mode shuts down the wallet only allowing retrieving and returning of the cards everything else is done via the App.
- RFID Blocking Technology- This protects Electro-Wallet from someone trying to steal your info electronically. Blocking Radio frequency waves commonly known for stealing your personal data. Great all around feature to have on electronics that has your personal information.
Feel free to ask questions if you have any concerns or interest!
Here is a brief Timeline of some of the past and future events!
MEET THE INVENTOR!
Risks and challenges
The risk that I find with Electro-Wallet and it should be minimal is programming the software(which is what most of the money funded will be going towards building). I am very confident that the team I am working with is more the capable of handling the task. If there are any setbacks at worst it will most likely affect the delivery date of Electro-Wallet. If there are any setbacks we are more than capable of correcting them in a timely fashion, Letsky Innovation is more then confident there will be no problems that they cannot handle IF ANY.Learn about accountability on Kickstarter
- (32 days)