Virtual ATM: A Low Cost Secured Alternative to Conventional Mobile Banking

Virtual ATM: A Low Cost Secured Alternative to Conventional Mobile Banking

Agent assisted Banking

Electronic Banking

Mobile Banking

Secured Banking

Mobile banking has become immensely popular among customers as a suitable method for money transaction. Banks are assertively adopting this mode. It is playing a vital role in availing banking services in remote areas where placing branch or ATM booth is not economically feasible. Mobile banking is so far the easiest way of expanding banking coverage. But there is huge possibility of fraud in case of mobile banking as authentication & all type of transaction information is provided via mobile phone including pin. So mobile banking is not intended to be used for big transactions where ATM transactions are suitable because of its two layer authentication system. In this paper, a new system is introduced that provides ATM service without traditional booths but two layer authentications with a tiny OS independent device has been introduced named VATM. This paper discusses how this system works using a low cost device made of micro-controller & CDMA module for communicating with bank for authentication which is used as an alternate of Automated teller machine for providing two layer authentications.

Sifat, Shabnam Shahreen

Sabbir, Ali Shihab

International Journal of Interactive Mobile Technologies (iJIM); Vol. 9 No. 2 (2015); pp. 44-49

1865-7923

International Association of Online Engineering (IAOE), Vienna, Austria

2015-03-23

Copyright (c) 2017 Shabnam Shahreen Sifat, Ali Shihab Sabbir

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eng

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info:eu-repo/semantics/publishedVersion

Peer-reviewed Article