Modeling Smart Mobile Money Wallet and Offline Payment

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Addis Ababa University


Nowadays advanced technologies like smart phones are growing rapidly and digital world is created so that the real world objects can be digitized and accessed more efficiently than the physical world. As a result, smart phones are expected to be at the heart of the new digital economy. With the high and continuous proliferation of smart phones with their ubiquity features and improvement of their hardware and software capacities, it is necessary and useful to design a new form of digital money considering the features of real world money since money is vital for all humankind. This enables citizens of the world to use digital money so that the paper money in the physical world can be eliminated and replaced by digital money in the digital world. We proposed a model for a Smart Mobile Money Wallet and Offline Payment that can realize a smart money. The smart money we designed exactly reflects the most important features of the real world material money such as serial number, economic value, icon, and signature, which is not currently available in today’s digital money platform. The proposed model enables to withdraw, deposit, pay, and receive smart money anywhere at any time. Based on a proposed model, Smart Birr wallet and Smart Bank that shows all the features of the model are developed considering the Ethiopian currency, Birr. Elliptic curve cryptography technology, advanced encryption standard, and biometric based authentication are used to achieve security requirements for open-air communication. Finally, experiments are conducted in order to test the feasibility of the proposed approach. The processing time experiment result showed that 5.62, 17.8, 606.02, 566.5, and 1471.6 milliseconds processing time is required in order to generate, detect, withdraw, deposit, and pay particular Smart Birr respectively which is affordable by the current computing devices and considerably low CPU and memory utilization is required. In the usability experiment, 97% of participants have agreed that Smart Birr wallet has higher usability than cash. Keywords: Smart Mobile Money Wallet, Mobile Money Security, Offline Payment, Smart Money Model, Smart Birr



Smart Mobile Money Wallet, Mobile Money Security, Offline Payment, Smart Money Model, Smart Birr