Design and implementation of a money transfer system

Description

Abstract Research has shown traditional money transfer systems are prone to attacks through falsified deposit slips and drafts, forgery of signatures, use of false cheques, theft of debit cards and so on. Also, a lot of transactions which are required to take place during the weekend or after banking hours cannot happen because banks do not open on weekends and do not attend to customers after hours. This system offers a platform independent of transferring money from one place to another at any time and on every day of the week. The main aim of this project is to improve on existing money transfer systems. To achieve this aim the use of CVC(card verification code) and randomly generated numbers on a token to provide a secure system for transferring money. This project is not just the development of standard software or just the implementation of a money transfer system but a portal that solves some issue when it comes to transferring of money, which in this case we focused on the security and the aspect of a friendly and simple system. After carefully considering and analyzing the need and challenges of the users, there was a conclusion that the portal, definitely not as large or comprehensive as already existing portals but it is an innovation that can perform the most desired activities of the user.