SimPay

Pakistan?s banking and digital financial industry suffers from the constant burden of regressive regulatory policies and dated bureaucratic processes which have made it difficult to successfully introduce a simple and user-friendly mobile banking experience which doesn?t burden the everyday user to

Project Title

SimPay

Project Area of Specialization

Computer Science

Project Summary

Pakistan’s banking and digital financial industry suffers from the constant burden of regressive regulatory policies and dated bureaucratic processes which have made it difficult to successfully introduce a simple and user-friendly mobile banking experience which doesn’t burden the everyday user to perform day-to-day financial tasks. A simple task such as transferring funds to someone is so extensive that the user feels it’s better to just forgo doing it digitally and prefers to deal in cash.

This is not only negatively impacting the adoption of cashless financial innovations, but is also creating a heavy reliance on cash in the local economy which makes it harder to create a financial trail and thus paves way for crimes such as money laundering and tax evasion effectively reducing accountability of citizens.

SimPay aims to change this completely by introducing a digital banking user-experience on users’ mobile phones which is faster than cash-based transactions to ultimately get users into the habit of completing all their day-to-day financial requirements through digital means rather than cash and thus creating the environment and culture of accountability.

Project Objectives

To create an extremely simple and enriched experience for users when completing their day-to-day digital financial requirements by accumulating and integrating industry best practices and design patterns in a mobile application that users don’t feel burdened to use.

Project Implementation Method

The project will require the development of a mobile application which will initially be done on Android throughout the course of this project and will have a very simple user interface with a 1-minute sign up process which prioritizes the funds transfer functionality which will serve as the main point of access within the app.

An optional component of this project would be the development of a web interface to demonstrate the reporting and management functionalities of this application however since the primary purpose of this application is to demonstrate the simplified mobile app experience, this functionality will be considered later in the scope of this project.

The initial stage of development will cater to the creation of a user experience and user interface which will be prototyped after which the implementation of the prototype will be initiated.

Benefits of the Project

SimPay aims to create a financially inclusive economy by introducing a digital banking user-experience on users’ mobile phones which is faster than cash-based transactions to ultimately get users into the habit of completing all their day-to-day financial requirements through digital means rather than cash and thus creating the environment and culture of accountability.

Technical Details of Final Deliverable

- Web Portal: Built using MEAN Stack and hosted on Firebase.

1. Identity Verificiation of Users

2. Real-time Transaction Feed for Retail Users

- Android Mobile App: Built using Android Studio in JAVA and Firebase

• User Onboarding and Profile Management

• Identity Verification

• Add Money via Scratch Card

• Add Money via Debit Card* (dependent on approval of gateway)

• Transaction History

• Funds Transfer – SimPay User to SimPay User – Mobile Number

• Funds Transfer – Simpay User to SimPay User  - Scan QR Code

• Funds Transfer – SimPay User to SimPay User – Pay Nearby

• Pay Later – SimPay User to SimPay User – Mobile Number

• Pay Later – SimPay User to SimPay User – Scan QR Code

• Pay Later – SimPay User to SimPay User – Pay Nearby

• Web Interface - Authentication

• Web Interface – Scratch Card Generation

• Web Interface – Real Time Transaction Fetch for SimPay Users

Final Deliverable of the Project

Software System

Core Industry

Finance

Other Industries

IT

Core Technology

Others

Other Technologies

Sustainable Development Goals

No Poverty, Good Health and Well-Being for People, Decent Work and Economic Growth, Industry, Innovation and Infrastructure

Required Resources

If you need this project, please contact me on contact@adikhanofficial.com