SimPay

Project Title

SimPay

Project Area of Specialization Computer ScienceProject 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 SystemCore Industry FinanceOther Industries IT Core Technology OthersOther TechnologiesSustainable Development Goals No Poverty, Good Health and Well-Being for People, Decent Work and Economic Growth, Industry, Innovation and InfrastructureRequired Resources

Item Name	Type	No. of Units	Per Unit Cost (in Rs)	Total (in Rs)
			Total in (Rs)	42000
Firebase and Hosting	Equipment	1	16000	16000
Internet	Miscellaneous	1	7000	7000
RAM	Equipment	1	14000	14000
API Usage	Equipment	1	5000	5000