Survey on Bank Note Recognition for Smart Transaction

Abstract

The usage and existential dependence on banknote withdrawals have increased worldwide. It is actually, to an extent, impossible to perform any transactions without withdrawal of banknotes. The usage of ATM to transact this money has increased worldwide since the last decade too. Though the usage of ATMs’ has significantly increased, it is fairly impossible for the visually challenged to perform ATM transactions without the help of a third-party. Most of the problems arise when the visually challenged request for help or are uncertain of what they do. So, to prevent any security breaches or issues like that, an optical based banknote recognition system can be used. With the help of the system, image recognition can be performed to extract banknote features and Optical Character Recognition can be performed to identify the amount entered, thus, making the entire transaction process easy.