Cashless System
Since the supply of paper money there are no transparent records of the transaction. We know paper notes are less durable, and it is not always wise to carry cash around specially where we live, it can be lost, theft or misused. We got this inspiration while taking a survey where we got to k
2025-06-28 16:30:45 - Adil Khan
Cashless System
Project Area of Specialization Internet of ThingsProject SummarySince the supply of paper money there are no transparent records of the transaction. We know paper notes are less durable, and it is not always wise to carry cash around specially where we live, it can be lost, theft or misused.
We got this inspiration while taking a survey where we got to know every student has the same problem regardless of the university they are in, some of the common problems were:
Students are having difficulty in managing paper money, not having enough money at the right time and usually parents have to give away the money several times, which cater the problem of imbalance finance issues.
Students can easily pay online for lunches, at print shop and other expenses.
The initiative offers students the option of making a variety of school payments - including lunch money, stationary purpose and for issuing books - via a simple and convenient online.
Our project will make transactions within institute easily and fluently, which is reliable using fin-tech protocols. Through this, students will be able to pay for every single services within the institute using their App. Students can recharge their account from financial department through paying the cash against the roll number.
The account holder can also avail facilities if he or she have zero balance in the account so up to -500 rupees can be utilized for the transaction keeping transparency over every transaction.
Students not only can pay to cafeteria but can also pay their dues and fine, upcoming events, transfer funds to their fellows. Additionally, we will be using Collaborative Filtering technique to provide valuable information to our users i.e. recommendation on most popular food/books/events.
Students can also view their payment history on their App. Moreover, for every transaction student will receive message/bill, which will be verified by them before payment.
This type of work are implemented in other institutes including IOBM and LUMS, the only feature they have is semester, transport and hostel fees (these services in LUMS is linked with bank). Whereas transaction through our system is linked with finance department of institute. Through our system students can easily pay for cafeteria, stationary shop, library etc. (moreover will be added on the requirement basis) and can transfer funds to their fellows.
Payments are being done manually up-till now. This project will give benefit to students as well to universities and different institutes to automate the system which makes all the transaction more reliable and secure.
Project ObjectivesOur project aims to optimize the flow of cash through digitizing the paper money to e-wallet and maintain true records against transaction within institute with the help of using Fintech Technology and virtual account against student roll number. Moreover, recommendation will be provided based on user’s preference to create value for our users.
Our project will cover and the expected outcome will be:
Web Development, which include HTML and CSS for interactive GUI, and for backend we will be using client, server, databases.
Desktop based development for different modules, for example POS System for Cafeteria.
Mobile Application Development where we use Android based application for the payment purpose and to order a product, to manage their account transactions and for verification purpose.
Through Data Analytics and Algorithm, it will provide valuable recommendation to our users.
Digital Transaction of bills and logs for account payable and receivable.
Introducing infrastructure component that provide faster and more accurate transaction with true record.
For every transaction, verify receipt generated through the mobile application over the internet for security purpose.
Mobile and web app would provide appropriate set of functions like most recommended books in the library, most popular or food of the month, best events in university etc.
The method for cashless purpose include:
Select merchant of particular service available on the application and place order against the specified product or service.
After confirming the order account will be updated of both merchant and buyer with the valid records for account receivable and account payable.
Notification will be appeared on merchant’s screen and the order will be start processing.
Following are the algorithms that can be used for analytic purpose:
Collaborative Filtered Technique Algorithms.
Python, Django framework or PHP for Web Application.
Fintech Protocols for transaction and security.
Mobile Application.
Through this project some of the benefits that will be provided are:
Payments can be done electronically to any merchant (i.e. Cafeteria, Stationary shop or library) from the user’s account.
History of transactions will be maintained which can be viewed by a user.
Users can share/transfer funds to their fellows via app.
Payment of Fines and dues can also be done.
Without even physically be appeared at cafeteria shop order can be placed anytime online.
The App will recommend the most trending food/book for the user also the individual recommendation will be given according to user’s preference.
Deposited money can also be utilized for recharging printing quota.
Project scope can be broaden depending upon the services provided within the institutes but can be set for larger scale by adding more facilities. This can include course fees, transport, hostel fees etc. Payment for these services can be made digitally. Students can also avail the discount and promotion opportunities for the catering of any event.
Additionally, it is a complete ecosystem where students, teachers and employees will be benefited by fetching common trends from different universities, retrieving common information as well.
Technical Details of Final DeliverableThrough this, students will most likely pay for each and every administrations inside the foundation utilizing their App. Students can energize their record from budgetary/financial office/department through paying the money against the roll number.
The record holder can likewise benefit offices on the off chance that the individual in question have zero parity in the record so up to - 500 rupees can be used for the exchange keeping transparency over each exchange.
Students not exclusively can pay to cafeteria yet can likewise pay their duty and fine, up and coming occasions, exchange assets to their colleagues. Moreover, we will utilize Collaborative Filtering procedure to give significant data to our clients for example proposal on most famous food/books/occasions.
Students can likewise see their installment history on their App. In addition, for each exchange understudy will get message/charge, which will be confirmed by them before installment.
Digital Transaction of bills and logs for account payable and receivable.
Introducing infrastructure component that provide faster and more accurate transaction with true record.
For every transaction, verify receipt generated through the mobile application over the internet for security purpose.
Mobile and web app would provide appropriate set of functions like most recommended books in the library, most popular or food of the month, best events in university etc.