ID Based Encryption in Modern Cryptography

Now a days, ATM is used for money transaction for the convenience of the user by providing round the clock 24*7 services in financial transaction. Bank provides the Debit or Credit card to its user along with particular PIN number (which is only known by the Bank and User). Sometimes, user's card may be stolen by someone and this person can access all confidential information as Credit card number, Card holder name, Expiry date and CVV number through which he/she can complete fake transaction. In this paper, we introduced the biometric encryption of "EYE RETINA" to enhance the security over the wireless and unreliable network as internet. In this method user can authorizeasthird person his/her behalf to make the transaction using Debit or Credit card. In proposed method, third person can also perform financial transaction by providing his/her eye retina for the authorization & identification purpose.