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Background
Background
Nucooin Limited sought to revolutionize digital transactions by developing a unified mobile wallet service, designed to act as a "stored value account" for seamless money transfers, payments, and transactions. The goal was to create a highly secure, user-friendly, and technologically advanced platform catering to both individual users and merchants.
Their existing challenge lay in providing a comprehensive ecosystem where users could manage everyday transactions, locate Nucooin-enabled merchants or kiosks, and ensure robust security compliance for sensitive financial data.
Objectives
Objectives
Build a user-friendly mobile wallet for both individual users and merchants.
Integrate advanced features like Augmented Reality (AR) and geofencing for enhanced usability.
Ensure seamless and secure transaction processing, including cash-in, cash-out, transfer, and payment capabilities.
Adhere to stringent global security standards to protect financial and user data.
Solution Overview
Solution Overview
Nucooin Individual App
Nucooin Individual App
A mobile wallet application designed for private/general users to manage their financial transactions with ease.
Key Features:
Key Features:
Proximity Payments: Pay for goods, vending machines, tickets, or bills using QR-code-based proximity transactions.
AR Integration: Locate nearby Nucooin-enabled merchants, kiosks, vending machines, and cash boxes through AR visuals.
Google Maps Integration: Use map-based services to find merchants or devices.
Cash Management:
Cash-In: Remotely transfer funds from bank accounts.
Cash-Out: Remotely withdraw funds to bank accounts.
Secure Transfers:
Proximity transfer using QR codes.
Remote transfer using phone numbers.
Security Standards: Implements PCI DSS, ISO/IEC 27001:2013, and ISO/IEC 27002:2013 for secure payments.
Nucooin Merchant App
Nucooin Merchant App
A wallet application tailored for merchants and business users to facilitate transactions and connect with customers.
Key Features:
Key Features:
Geo-fencing Capabilities: Locate and engage individual Nucooin users within a specific geo-fence.
Payment Processing: Accept proximity payments via QR codes and remote payments using phone numbers.
Transaction Insights: Access detailed records and summaries of received payments.
Nucooin Hardware Integration
Nucooin Hardware Integration
Nucooin also developed hardware solutions, including vending machines equipped with QR code scanners, allowing seamless proximity payments.
System Security Features
System Security Features
To ensure the integrity and security of financial data, the Nucooin Mobile Wallet system incorporated:
256-bit AES Encryption: Safeguarding sensitive data during transmission and storage.
Authentication and Authorization: Multi-factor authentication and role-based access control to prevent unauthorized access.
Secure API Management: APIs designed for secure communication between different system components.
SSL Implementation: Enhanced data encryption for secure connections.
Global Standards Compliance: Adherence to PCI DSS, ISO/IEC 27001:2013, and ISO/IEC 27002:2013 for data security and risk management.
Results and Benefits
Results and Benefits
Enhanced User Experience:
Enhanced User Experience:
Individual users could now manage transactions on the go, locate merchants with AR, and make payments seamlessly.
Merchants benefited from easy access to customer payments and geo-targeted engagement.
Streamlined Transactions:
Streamlined Transactions:
Instantaneous cash-ins, cash-outs, and QR code-based payments drastically reduced transaction time.
Improved Security:
Improved Security:
The platform met the highest global security standards, ensuring trust and confidence among users.
Wider Reach:
Wider Reach:
Hosting apps on Google Play Store and App Store made them accessible to a broad audience.
Scalable Infrastructure:
Scalable Infrastructure:
The modular design ensured the platform could grow with future requirements, such as adding new payment features or scaling hardware deployments.
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