ABSTRACT

The "Money Transfer System Application" project aims to create an accessible and
user-friendly mobile app for handling financial transactions. Our goal is to offer a convenient way
for people to send money, pay bills, and top up their mobile balances, all through their
smartphones. This paper outlines the project's objectives and features. It is focused on simplifying
financial tasks, making them hassle-free for users of all backgrounds. Security is a top priority as
the system strives to ensure that financial transactions are both user-friendly and safe.

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 CHAPTER 1

INTRODUCTION

In today's tech-driven world, the money transfer applications have become an integral part of
the everyday lives of people. This “Money Transfer System Application” draws its inspiration
from services like Wave Money from Myanmar. This application provides the means for effortless
money transfers, convenient payment of electricity bills, and simple mobile top-ups, all accessible
via the smartphones.

1.1 Objectives
Through these objectives, the system aims to bring convenience to the users:

● Create User-Centric Financial Services: Design and create a mobile application that
prioritizes user experience and accessibility, making it easy for individuals and businesses
to perform a range of financial transactions.
● Streamline Money Transfers: Implement a secure and efficient money transfer feature that
enables users to send and receive money seamlessly, both domestically and internationally.
● Facilitate Bill Payments: Provide a way for users to conveniently pay their electricity bills
and top up their mobile balances, offering a one-stop solution for essential financial
transactions.
● Ensure Security: Implement robust security measures to protect user data and financial
transactions, complying with industry standards and regulatory requirements.

1.2 System Analysis

New User
I want to be able to register for the mobile banking app using my phone number so that I can open
an account conveniently without any other documents.
I want to receive a verification code via SMS to confirm my identity during the registration
process so that I can verify my account with the code and the account phone number.

User

I want to be able to view my account balance and transaction history so that I can decide when to
deposit and also to help my usage of money.
I want to be able to update my contact information (email, phone number) through the app so that
if something happens to my mobile then I can easily get back my account.
I want to be able to transfer money to other users so that I don’t need to go outside.

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I want to receive money from other users so that I don’t need to go to that person or any other
place to take money.
I want to receive notifications when someone sends me money so that I can make sure that person
has already sent me money and there won’t be any misunderstanding.
I want to be able to locate nearby agents using the app's agents finder so that I can easily find the
ones near my place.
I want to initiate a withdrawal from my account at an agent using a QR code or PIN so that I don’t
need to give my number to the agent.
I want to top-up my mobile credit through my account so that I can easily top-up at any time.
I want to pay Wifi and electricity bills from my account so that I can make the payment without
having any delay.
I want to be able to check my payment history so that there is no loss of funds.
I want to receive reminders and notifications for upcoming bill payments so that I won’t be late
for my service payments.
I want to receive notifications for all account transactions and changes for security purposes.
I want to be able to contact customer support through the app for assistance so that I can get
solutions for any issues.
I want to access a FAQ section for knowledge base and self-help.
I want to change my PIN or password for added security.

Agent

I want to withdraw and deposit user's cash so that I can be a useful employee.
Bank
I want to be able to check the user's transaction history, acc info and so that I can track the
suspicious transactions.
I want to manage the user's accessibility so that I can give the authority to the right person.
As a user,

1.3 Benefit of the project

Accessibility: These apps are widely accessible, with many available on various platforms (iOS,
Android, web). This accessibility allows users to send and receive money regardless of their
location, as long as they have an internet connection.

Lower Costs: Money transfer apps can be cost-effective compared to traditional banking methods
or wire transfers. They often have lower transaction fees or offer competitive exchange rates for
international transfers.

Transparency: Users can easily track their transactions, view transaction histories, and receive
notifications about the status of their transfers. This transparency helps build trust in the service.
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Flexibility: users can withdraw and transfer money from his own account and you can deposit
money with the most convenient method by going to the nearest agent.

Integration: may integrate with other financial services or apps, such as budgeting tools or
investment platforms, making it easier for users to manage their finances holistically

Reduced Cash Usage: promote a cashless society, reducing the need for physical cash
transactions, which can be safer and more efficient.

Financial Inclusion: can help bridge the financial inclusion gap by providing access to banking
services for individuals who may not have access to traditional banks.

Business Solutions:offer solutions for businesses, enabling them to make payments to suppliers,
employees, or contractors efficiently.

Customer Support: Many apps offer customer support through chat, email, or phone, ensuring
users can get assistance when needed.

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 CHAPTER 2

FUNCTIONAL OBJECTIVES
2.1 High Priority
User Registration
● Users can register an account for the app using their phone number.
● A verification code is sent to the given phone number via SMS for identity confirmation
during the registration process.

Account Management
● Users can view their account balance and transaction history.
● Users can update their contact information (email and phone number) within the app.
● Users can set notification preferences for transaction alerts and updates.
● Users can customize user profile and app settings, including language preferences.

Money Transfer
● Users can make deposits and withdrawals from their accounts through agents.
● Users can initiate withdrawals and deposits through an agent without giving their phone
number using a QR code or PIN.
● Users can transfer money to other app users.
● Users can receive money from other app users.
● Users receive notifications for incoming money transfers.

2.2 Medium Priority

Agent Locator
● Users can use the app to locate nearby agents for cash withdrawals and other services.

Mobile Credit Top-up

● Users can top-up their mobile phone credit directly through the app after specifying the
desired amount.
Bill Payments
● Users can pay wifi and electricity bills directly through the app and receive payment
success notifications.
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2.3 Low Priority

Bill Payment Reminders

● Users receive reminders and notifications for upcoming bill payments to avoid late fees.

Transaction Notifications
● Users receive notifications for all account transactions and changes for security purposes.

Customer Support
● Users can contact customer support directly through the app for assistance with any issues.
● Users can report issues and bugs in the app.
● A FAQ(frequently searched questions) section is provided to further improve user
experience.

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 CHAPTER 3

NON-FUNCTIONAL OBJECTIVES

3.1 Security
● All user data, including financial transactions, must be encrypted.
● Strong authentication and authorization mechanisms must be implemented to protect
against unauthorized access.

3.2 Performance
● The app should have low latency, ensuring quick response times for actions like fund
transfers and balance inquiries.
● The system should be able to handle a large number of users and transactions without
significant degradation in performance ,especially during peak usage times.

3.3 Reliability
● The app should be available 24/7 with minimal downtime for maintenance or updates.
● The app should be resilient to failures, ensuring that critical services remain available even
in the event of hardware or network issues.

3.4 Usability
● The app should have an intuitive and user-friendly interface to cater to users of varying
technical expertise.

3.5 Scalability
● The system should be designed to handle a growing user base and transaction volume
especially during peak usage times.

3.6 Compatibility
● The app should work seamlessly on a wide range of mobile devices and operating
systems.
● If a web version of the app exists, it should be compatible with major web browsers.

3.7 Data Backup and Recovery

● The System should implement regular data backups for user and transaction data.

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 ● The System should implement strong data recovery procedures in case of unforeseen
disasters to prevent data loss.

3.8 Network Resilience

● The app should be designed to handle intermittent or unstable network connections,
ensuring data integrity.

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 CHAPTER 4

UML DIAGRAMS

4.1 Introduction
Design is the first step in the development phase for an engineered product or system.
Design is the place where quality is fostered in software development. Design is the only way that
student management system project reports can accurately translate a user’s requirements into a
finished software product or system.Software design is a mechanism to transform user
requirements into some suitable form, which helps the programmer in software coding and
implementation. It deals with representing the client's requirement, as described in SRS (Software
Requirement Specification) document, into a form, i.e., easily implementable using programming
language.

4.2 UML Diagrams

UML stands for Unified Modeling Language, and it is a modeling language that is most
often used for software engineering but has extended its use to business processes and other
project workflows. Essentially, UML is visualizing software through diagrams, specifically one of
the thirteen UML diagrams. This modeling language was created by three software engineers at
the company Rational Software for their projects, and it has become the standard with very few
updates over the years. In this project, we used three types of UML diagrams. Those are Use Case
Diagram, Class Diagram and Sequence Diagram.

4.2.1 Use Case Diagram

Use case diagram is a model of how users, displayed as stick figures called “actors,”
interact with the system. This type of UML diagram should be a high-level overview of the
relationships between actors and systems, so it is a great tool for explaining the system to a
non-technical audience such as stakeholders.

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 Figure 4.1 Use Case Diagram

4.2.2 Class Diagram

Class diagrams show the static structure of a system, including classes, their attributes and
behaviors, and the relationships between each class. Because a lot of software is based on
object-oriented programming, where developers define types of functions that can be used, class
diagrams are the most commonly used type of UML diagram.

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 Figure 4.2 Class Diagram

4.2.3 Sequence Diagram

A sequence diagram, sometimes referred to as an event diagram or an event scenario,
shows the order in which objects interact. This way, you can visually represent simple runtime
scenarios.

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Figure 4.3 Sequence Diagram

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 CHAPTER 5

CONCLUSIONS
5.1 Summary of Project Objectives
The high, medium, and low-priority functional objectives provide a clear roadmap for the
development of the application. From user registration and account management to money
transfers and bill payments, the application is designed to cater to the diverse needs of its users.
Agent locator and mobile credit top-up add an extra layer of convenience.

The non-functional objectives emphasize the importance of security, performance,

reliability, usability, scalability, compatibility, data backup and recovery, and network resilience.
These aspects ensure that the application not only meets user expectations but also adheres to
industry standards and best practices.

The UML diagrams, including Use Case Diagram, Class Diagram, and Sequence
Diagram, serve as vital tools for visualizing the system's design and functionality. They provide a
common language for communication among developers, stakeholders, and non-technical users,
facilitating a smoother development process.

5.2 Summary of Overall System

Overall, the "Money Transfer System Application" project offers numerous benefits,
including accessibility, lower costs, transparency, flexibility, reduced cash usage, financial
inclusion, business solutions, and robust customer support. These advantages position the
application as a versatile and indispensable tool in the realm of modern financial services.

As the project moves forward, it is crucial to prioritize the user experience, security, and
performance to ensure the successful implementation of this innovative financial application.
With the right development and execution, this project has the potential to positively impact the
lives of individuals and businesses, making financial transactions more convenient and efficient in
our ever-evolving digital landscape.

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