Development of a Secure Mobile Payment Application for Financial Institutions

The client faces increasing customer expectations for digital banking solutions, including seamless and secure mobile payment options. Current solutions need to enable purchases even with intermittent mobile coverage and ensure compliance with security standards like PCI DSS. There is a need for a robust platform that facilitates secure credit card transactions via mobile devices, improving user experience and operational efficiency.

A large banking institution seeking to enhance its mobile payment capabilities, providing its customers with a secure and convenient way to make payments via smartphones.

• Develop a user-friendly and secure mobile application that allows customers to make store payments using credit cards.
• Enable offline payment functionality to accommodate temporary lack of mobile coverage.
• Ensure compliance with PCI DSS standards to maintain high security levels.
• Integrate encryption, card validation, and 3DSecure systems to enhance transaction security.
• Launch the application on major platforms (Google Play and App Store) to reach a wide user base.
• Achieve a streamlined backend solution capable of handling high transaction volumes securely and efficiently.

• Development of the mobile application portal with graphical design and intuitive UX.
• Backend solution built on a robust platform supporting encryption and secure validation of payment data.
• Capability for in-store mobile payments using credit cards with 3DSecure authentication.
• Support for offline payment transactions that sync once connectivity is restored.
• Compliance with PCI DSS standards to safeguard sensitive payment information.

• Encryption services for securing payment data
• Credit card validation systems
• 3DSecure authentication services
• PCI DSS compliance monitoring tools

• Application must support high transaction volume with minimal latency
• Ensure data security and privacy in full compliance with PCI DSS standards
• System availability should support 24/7 access with reliable offline capabilities
• Secure encryption protocols to protect user data during transmission and storage

The new mobile payment solution aims to provide customers with a secure, convenient, and reliable way to conduct in-store payments via smartphones. Anticipated outcomes include increased customer satisfaction, enhanced security with PCI DSS compliance, and higher transaction volumes, similar to achieving accessible app availability on major app stores and secure 3DSecure credit card payments, thereby strengthening the client’s market position in digital banking.