My project looks at a different medium of payment by making use of the mobile. It is a mobile phone application and will be able to make payments through your mobile. There are various features of the application as can be seen on the dashboard. Using the phone camera, the qr code can be scanned which would be printed on the bill or on the screen of another phone and the user can make and receive payment. So the user can make direct payment using your mobile. The app will be linked to the bank account so it will have all the account information.
For example when you are in a restaurant and you get your bill. The bill will have all the standard information but along with this, the code will also be printed. You scan the code using the mobile phone camera and all the information in the bill will be displayed on the mobile phone screen. You can then just press pay on the screen and it will make the payment hence eliminating the use of money or credit card.
It can also generate a qr code which can be sent or scanned by the other user and can receive payment. There is also a bill payment option which can pay all the bills like water, electricity, phone etc.
It is a new and alternative method of payment and eliminates the use of the wallet