mobile/digital wallet

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Page 1: Mobile/Digital Wallet
Page 2: Mobile/Digital Wallet

Mobile/Digital Wallet(eMoney)

Submitted By:

Muhammad Ashik IqbalM.Sc. in CSEID: [email protected]

http://ashikiqbal.blogspot.com

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SenderMobile

ePayment ePayment SystemSystem

ReceiverMobile

Bank PayPoint

Page 5: Mobile/Digital Wallet

1. Sender Mobile sends request to Transfer Money

2. System checks available balance in Sender’s A/C from that particular Bank

3. It transfers money from senders A/C to receivers A/C

4. After a successful money transfer it sends a confirmation notification (SMS/Email) to receiver

5. Money can be send and/or receive from PayPoints

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PayPoints act like ATM booths or branch of a bank eMoney can be send to any subscriber’s A/C from PayPoints Unbanked people can take the facility of PayPoint to send

money from rural area eMoney can be cashed from PayPoints

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Digital/Mobile Wallet System can help to reduce the Hard Cash flow in the country

Electronic payments can be done using this system Simple, hassle free, no hard cash security, faster,

cost effective.

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Already 23 Banks of Bangladesh are connected with VISA network

Currently VISA network is used for ATM and POS transactions

VISA connects nation-wide and globally and gives the facilities of ONLINE TRANSACTION

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There is no legal and government issues to implement.

Because the intra-bank transactions will be done within VISA network which is already permitted (ATM and POS)

Although Bangladesh Bank has signed and permitted the new transaction system of this Mobile/Digital Wallet

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Digital/Mobile Wallet system is going to implement using existing VISA and Mobile Network to connect all these 23 banks of Bangladesh within this year 2009 as pilot test project

After successful test, it will start from 2010

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