Hardware Level Security in e-Wallet: Today’s Need

After demonetization in INDIA, eWallets are very actively participating for financial transactions in Indian economy. Very huge population in INDIA, today,is using eWallets. In one side, eWallets are providing very convenience in shopping and online transactions and on another side people are fearing for any online frauds because some eWallets are not following fraud proof security practices, they are using Software security practices like password only. Passwords can sometime be easy breakable or can be stolen online. Hardware level security in various e-Wallets, which are active in INDIA, can reduce these types of frauds. Through hardware level security the e-Wallet would be more secure and can be used freely without worry of fraud. To implement hardware level security measure, application developers have to code applications from scratch. Developers need to find a way so that recoding of application can be avoided.