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Virtual Money Transaction. BUET- Octavian Deliberators : Hasan Habibul Latif Sheikh Al Amin. Scenario 1. I am in a bus and Forget to bring my wallet My wallet is lost and taken buy a mugger The bus conductor will insult or throw me out if I don’t pay the money. Scenario 2.

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virtual money transaction

Virtual Money Transaction

BUET- Octavian

Deliberators :

Hasan Habibul Latif

Sheikh Al Amin

scenario 1
Scenario 1
  • I am in a bus and
    • Forget to bring my wallet
    • My wallet is lost and taken buy a mugger
    • The bus conductor will insult or throw me out if I don’t pay the money
scenario 2
Scenario 2
  • My father does business
    • He ask me to pick up 50,000 taka from a client
    • I take the stated amount from a client
    • In my way to home I get robbed
    • My eyes are hurt because the robber used a special ointment to block my vision
scenario 3
Scenario 3
  • I am in a remote Island like St. Martin
    • I am not an intelligent spender
    • I realize that my cash is finished
    • Doesn’t know anyone to ask for

some cash

problem
Problem
  • Insecurity in money portability.
    • Scenario 2
  • Unavailability of money transfer.
    • Scenario 3
  • Time consuming money transfer.
    • Scenario 1

Besides

  • Effective online payment system.
  • Scarcity of small currency.
mcash system
Mcash System
  • Opened by a bank account.
  • Connects bank account & cell phone.
  • Stored value unit account.
  • Provides secure payments.
actors
Actors
  • Bank
  • Mobile Operator
  • Customer
  • Distributor
slide9
Bank
  • Agreement with Mobile operator.
  • Generate a software.
  • Setup IT team for maintenance.
  • Agreement with Distributors.
  • Provide Customer Care.
mobile operator
Mobile Operator
  • Collect additional information to open a bank account during registration.
  • Provide relation between Bank & Customer.
  • Maintain SMS transaction.
customer
Customer
  • MCash unit transfer via SMS.
  • Buy and sell products by transferring units.
  • Take and refund loan via SMS.
  • Pay the bills.
distributor
Distributor
  • Provide security money to bank.
  • Provide cash in-out service.
  • Possess security service.
information technology
Information Technology

Mobile SMS:

  • Interaction with bank.
  • Cash in-out process.
  • Unit transaction.
  • Notification and confirmation SMS.
information technology contd
Information Technology(Contd.)

Content Server:

  • Provide Value Added Services.
  • Collect and send SMS to the content server by network router.
  • Transfer SMS to the client server.

Client Server:

  • Parse the SMS.
  • Collect necessary information.
slide19

Mobile opetatorserver

How will it work?

Balance

Transfer

Information

Content

server

information technology contd1
Information Technology(Contd.)

Software:

  • Registration:
    • Receive request and gather all information from Mobile operator.
    • Create user accounts.
    • Send notification to each account.
information technology contd2
Information Technology(Contd.)

Software:

  • Money Transaction:
    • Check and update database for money transaction.
    • Send notification to user.
    • Cash in-out:
      • Check and update database for balance transfer.
      • Send notification to user.
information technology contd3
Information Technology(Contd.)

Software:

  • Loan system:
    • Check maximum limit and allow loan.
    • Update database of both deposit and loan account.
    • Show status of both accounts.
software requirements
Software Requirements:
  • Effective and efficient software development team.
  • Use of C#, PHP or JAVA SERVLET.
  • Linux server.

Database:

  • Powerful database system.
  • Use of Oracle , Mysql, SQL-SERVER.
cost analysis for bank
Cost Analysis for Bank
  • Assuming 1million customers each having 5000 TK in Average.

Total Income ……………………..1010 m

Variable Cost………………….. 454 m

Contribution Margin…………. 556 m

Fixed Cost……………………….. 140 m

Net Operating Income……….. 416 m

break even analysis for bank
Break-even Analysis for Bank

1010Q = 454Q + 1000, 00,000

 Q = 1, 79,857

cost analysis for mobile operator
Cost Analysis for Mobile Operator
  • Assuming 1million customers doing 400 million SMS transaction per year.

Total Income …………………….. 950 m

Variable Cost………………….. 334 m

Contribution Margin…………. 616 m

Fixed Cost……………………….. 80 m

Net Operating Income……….. 536 m

real life implementation
Real Life Implementation
  • New system for opening bank account.
  • Person to person
  • Bill payment
  • Money orders
  • Money transactions in shopping
  • Ticketing
  • Coupons
  • Pay cab fares
  • Take and repay loan in Banks
slide34

mobile operator

Mcash Registration

user

bank

Loan repayment

Loan

user

Money transaction

Registration, transaction and loan system

slide35

Mcash recharge

user

<<extends>>

<<extends>>

bank

Recharge through distributor

Recharge through Bank

distributor

<<depends on>>

<<depends on>>

mobile operator

Update bank account

Mcash Recharge Subsystem

slide36

Cash-out

user

<<extends>>

<<extends>>

bank

Cash-out through distributor

Cash-out through bank

distributor

<<depends on>>

Mobile operator

<<depends on>>

Update bank account

Cash-out Subsystem