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 works without Internet, reaching even the remotest areas of the world.
The Digital Wallets will eliminate or minimize the needs of 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, says Vinod Khillan, Vice President FAS.
On an average, 10% 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 by Digital Wallets.
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 intercommunication and total isolation from Internet connectivity makes the digital wallet extremely safe, secure and immune to hacking and data theft.
The Digital Wallet functions on proprietary systems like processor, operating system, Unique Embedded Text Script and payment processing software application inventions by an Indian origin inventor and founder of FAS, Raj Tore.
The Digital Wallet is a currency specific product which will cover all 180 legal tender currencies of the world within the geographic territories of the currencies. FAS’s US subsidiary corporation, Digital Cash Inc, will setup worldwide currency specific subsidiaries to enable Digital Wallets’ transactions.
The Digital Wallets will start rolling out in stages worldwide starting 2019.
ABOUT Future Age
Future Age IT solutions is a products innovation, research and development company committed to find innovative solutions to solve global problems. FAS focus is to make user friendly products considering multi-lingual human population spread across the earth.
It has a vision to create futuristic solutions to bring every management of service automated and accessible anywhere, anytime by humans with a mission to transform ourselves into an unique source of global eSolutions reaching and benefiting every human in every country on this planet.