Soft Cash

Abstract

Our project Soft Cash is a financial application. Our idea behind this project is empty pocket except our phone. It aims to digitize everything in your pockets in coming years by collapsing all that paper, plastic and metal into one device: The Smartphone. Smartphone have replaced many other once-common tools, from GPS devices to handheld gaming consoles, point-and-shoot cameras, calendars, notebooks, newspapers and portable music players. Now they're conquering new territory, most notably the wallet. Our idea is of using the Smartphone as Cash bringing your wallet in one application, i.e. after shopping, you will receive receipt from merchant on your screen and pay bill through our application using our payment channel just like you do payment from your credit/debit cards .(Other payment facilities and features are included in our future scope). The Soft Cash is a Smartphone application which enables the users to carry out the payment process in secure manner after shopping. Soft Cash aims to protect merchants and consumers from fraud associated with credit card transactions. With confirmations messages from both merchant’s and consumer’s end, both the parties will be well informed by the transaction status on the right time, the time of the transaction. RSA session keys will be provided and kept in secret with all the parties using the soft cash service. The will help protect passwords and vital information on all ends of the system. Afterwards consumers can rate the merchant for future transactions and transactions of other parties. Products can be viewed from the merchant’s database by using the QR code reader technique. The merchants can create these QR code using the merchants’ application provided by soft cash.