arun120 / bobfinathon

OFFLINE PAYMENTS

What if payments can be made even if there is no network? Welcome to the new cashless economy.

Our idea takes the main focus on providing a secure medium to transact money even if there is no network.

How we do it ?

If voice calls are can be made

We use DTMF Tones that can be transfered data via voice calls to the central server.This gives you complete communication with the server so that amount can be transfer like you do in netbanking.

Security Features Provided 1. Mobile number verification 2. Password Authentication (same as that provided by netbanking)

Backlogs * Takes more time to transfer encrypted data

If nothing is available other than bare smartphone with no network connection

We use hotspot technologies to transfer amount just like sharing files with ShareIt.

Data Flow

User creates a local wallet -> Recharges it with cash(can be done when Internet is available) -> Transfer cash to another mobile(user) via hotspot to their local wallet -> cash transfer to bank account from wallet(can be done when Internet is available)

Backlogs

Money stored in local wallet is lost if Mobile is lost