ONLINE TRANSACTION MODEL IN PYTHON

USING DJANGO FRAMEWORK

A PROJECT REPORT

Submitted by

ANIRUDH V

352/12

Submitted on
30/01/2023

Under the guidance Of

LIBIN S

CAD ENGINEER MECHANICAL

Near bus stand,

2nd Floor DR Complex,

Marthandam,

Kanyakumari Dist 629165

 ONLINE LINE TRANSACTION MODEL

INTRODUCTION

Business transactions conducted through the internet are called online

transactions. It is a payment method that aims to settle money transfers or
funds settlements via electronic mode. It also requires security and protection
using basic methods like password protection and OTP verification to
safeguard the transactions better. It is an increasingly popular method and is
the backbone of e-commerce. Basically, online transactions permit buyers and
sellers to meet online, trade as needed, and exchange goods or services for
money, and give a wider reach .

WHAT ARE ONLINE PAYMENTS?

Payments made over the internet are generally classified under ‘online
payments’. These payments are done while purchasing products or availing
any services, both online or offline. Online payments can either be one-off
payments (like a purchase from Amazon) or recurring payments (like
subscribing to Netflix). Some of the common methods of online payment
include

1. Bank transfers
2. Digital wallets like PayPal or Google Pay
3. Online credit/debit cards
4. QR Codes / UPI
5. BNPL

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HOW DO ONLINE PAYMENTS WORK?

Here’s a very basic and also the most common model of how online
payments usually work:

1. A customer places an order on the merchant’s website

2. The payment gateway gathers all the required data and information
needed for the transaction to take place
3. The data is then forwarded to the financial institution or the credit card
company
4. This is further transferred to the customer’s card company
5. The bank then confirms the transaction and informs the merchant
6. Finally, the merchant sends a confirmation message to the customer
saying that they have received the payment

GUIDELINES TO CONSIDER WHILE MAKING ONLINE

PAYMENTS

Given the rise in fraudulent activities, there are a few things you should
watch out for even if online payments seem to be quite secure and simple.

1. Don't store card information:

To avoid having to input our card information again, the majority of us

prefer to keep it on our smartphones or other devices. However, this is not
advised since it could be misapplied in situations of theft. After each usage, be
sure to always delete your card information.

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2. Keep your passwords to yourself:

As cliche as it may seem, it is necessary to follow this guidance. Keep your

passwords private and change them often so that you don't become a target of
hackers or other online criminals. For best security, use a strong password and
turn on the OTP option.

3. Avoid the use of public WiFi:

No matter how hurried you are, you should never do business using WiFi
or public computers since there is a considerable risk of data theft and other
cyberattacks.

4. Utilize private windows:

Be careful to perform all of your transactions in private windows and stay

away from any suspicious websites or applications that are not included in the
app store's top recommendations. By checking reviews and the number of
downloads, you may learn more about these programmes.

ADVANTAGES OF ONLINE PAYMENTS:

1. Transactional Speed

Online payments save a massive amount of time for the buyer and the
vendor. There is no need for people to stand in line, write checks, or wait for
paper money. They may get the money immediately; they don't need to wait
for banks to process their checks.

As they don't have to spend time printing and distributing bills, merchants save
a massive amount of time. The likelihood of late payments is also lower with
online payments. People won't forget about or put off a transaction since it just
takes a little while to do it.
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2. Convenience

Any time of day, from any location in the globe, anyone may make
payments for products and services. It is simpler to use a smartphone function
than to gather the appropriate quantity of cash for your buy. You don't need to
worry about carrying a lot of cash, being robbed, or getting imperfect change.
With online payment methods, all you have to do is remember a certain pin to
complete your purchase! It's that easy.ARE YOU AWARE?

"In a 2020 poll to analyze shifting consumer perceptions around the COVID-
19 epidemic in India, respondents over 40 were more likely to prefer utilising
credit and debit cards for purchases. On the other hand, younger customers
preferred UPI and online wallets."

3. Including a worldwide audience

One of the major benefits of having an online payment gateway is that

companies may operate internationally and have a clientele regardless of
geographical restrictions. Over 56% of internet customers, it has been found,
prefer to purchase internationally. Because you will be serving a worldwide
audience, adding online payment alternatives to your e-commerce site will
definitely boost sales.

4. Minimal transaction fees

Businesses must employ front-desk staff or cashiers to handle sales and

payments under a typical payment system. However, transactions involving
internet payments happen in an automated setting. Online payment gateways
are easy to set up for businesses and have reduced transaction costs.

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5. Rapid and simple setup

You may quickly and simply integrate online payment gateways for
your company instead of taking the time to build up a comprehensive payment
procedure that requires specific hardware and additional staff. However, you
may compare the many possibilities before selecting the services of a certain
vendor in order to choose the best one.

6. A vital range of payment options

You may provide your clients a broad range of payment alternatives

using online payment services. People have their own choices, therefore
providing them with that choice when making a purchase from you definitely
increases the likelihood that they will actually complete the deal.

7. Additional distribution channels

Having online payment choices as a company may greatly improve your

distribution methods. If you're prepared to take payments online, you may join
the affiliate market and expand your sales by having your goods or services
advertised on other websites. It is a fantastic technique to boost sales.

8. Simple to manage

Your money and other financial information are simpler to handle and
store when you use online payments. There are several tools on the internet
that may assist with transactions for both consumers and sellers. You may let
the tools manage your funds instead of having to keep track of them yourself.
Since you don't need to carry cash or credit cards, things just grow simpler.

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9. Improved client experience

Customers will have a favourable shopping experience if they believe it

is easy to buy from you, and they can do so while saving money and time.
Additionally, as a company, you must prioritise the consumer experience
above all else. Since many consumers these days prefer online payments over
cash or credit card transactions, implementing online payment alternatives for
your company is a terrific method to do it.

10. The ability to set up recurring payments

Subscription marketplaces are now easily operational because of online

payments. People used to regularly make cash or credit card payments in the
past. Nowadays, consumers don't need to really remember to pay or make the
effort to go far to the actual place of business to make their payments since
such processes are automated. Due to this, it is now simpler for both the
merchant and the client to accept and receive payments.

DISADVANTAGES OF ONLINE PAYMENTS

1. Technical difficulties

Like any other technology-dependent programme, online payments are

liable to technical issues or downtime. Even while tech maintenance activities
are scheduled in advance and often occur at night, they may sometimes annoy
online buyers. Many organisations encounter high bounce rates, particularly
when it occurs unexpectedly.

2. Threats to passwords

There is a large risk that an online portal may access your private data or
your bank account information if you are a registered user and often utilise

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online payments. Even if one-time passwords (OTPs) are used for the majority
of transactions, some circumstances call for password security. You might be
at risk of a privacy violation, especially if you work with many institutions.

3. Cost of fraud

Cybercriminals are adopting online payments as a preferred method of

payment, just as more and more consumers are doing. Database exploits,
phishing scams, and identity theft are all on the rise. Businesses deploy several
payment-security software programmes, at great expense, in an effort to stop
these and boost security.

4. Security concerns

There are several security dangers associated with utilising online

payments, as was covered in the preceding paragraph. Important financial data
and information may be readily hacked by thieves if suitable security
precautions aren't taken. Criminals may also easily evade capture since there
are no verification mechanisms like face recognition or fingerprints.

5. Lack of technology literacy

The fact that many individuals, particularly the older population, lack
basic computer literacy is one of the biggest drawbacks of online payments.
They avoid utilising online payment methods because they lack sufficient
understanding of how to use technology and devices. Many of them continue
to utilise conventional payment methods because they are afraid of the
difficulties involved. In developing nations like India, this is a major problem.

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6. Time and amount restrictions

Some banks place a limit on the number of transactions or the daily

maximum amount that may be transferred. The majority of online transactions
also have a deadline that you must meet (like receiving and accepting OTPs).
For some people, all these restrictions may prove to be quite inconvenient.

7. Service charges and other expenses

Some firms may charge setup fees or even processing fees for
consumers utilising such facilities when deploying online payment gateways.
Both the merchants and the buyers may find this annoying as it easily results
in additional expenses.

8. Uncertain transactions

You may complain to your bank or the company that handles your
online payments if you discover someone utilising your electronic funds.
However, you cannot make a complaint or request a refund if you cannot
locate the person's personal information or, for that matter, any information
about them. In such cases, it becomes challenging.

9. Smart card loss

The majority of internet purchases are made via credit/debit cards, ATM
cards, or identification cards. Therefore, if you misplace any of them, your
connected online payment accounts will also be in danger. Of course, you may
block your cards after notifying the bank, but the transition phase between
losing your card and restricting it may prove to be dangerous due to the
possibility of several fraudulent transactions.

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10. Misidentification

The majority of internet payments are made secretly since there are no
verification techniques like photos or signatures. This has the possibility of
significantly increasing forgery and identity theft.

In this model we have used PYTHON as programming language and

DJANGO as framework for developing online transaction model application.

PYTHON

Python is a high-level, general-purpose programming language. Its

design philosophy emphasizes code readability with the use of significant
indentation.

Python is dynamically typed and garbage-collected. It supports multiple

programming paradigms, including structured
(particularly procedural), object-oriented and
functional programming. It is often described as a
"batteries included" language due to its
comprehensive standard library.

Guido van Rossum began working on Python in the late 1980s as a successor
to the ABC programming language and first released it in 1991 as Python
Python 2.0 was released in 2000 and introduced new features such as list
comprehensions, cycle-detecting garbage collection, reference counting, and
Unicode support. Python 3.0, released in 2008, was a major revision not
completely backward-compatible with earlier versions. Python 2.7.18, released
in 2020, was the last release of Python 2.

Python consistently ranks as one of the most popular programming languages.

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DJANGO

Django is a high-level Python web framework that encourages rapid

development and clean, pragmatic design. Built by experienced developers, it
takes care of much of the hassle of web development, so you can focus on
writing your app without needing to reinvent the wheel. It’s free and open
source.

Ridiculously fast.

Django was designed to help developers take applications from concept

to completion as quickly as possible.

Reassuringly secure.

Django takes security seriously and helps developers avoid many

common security mistakes.

Exceedingly scalable.

Some of the busiest sites on the web leverage Django’s ability to

quickly and flexibly scale.

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In this online transaction model there were a different kind of money transfer
method in it ……….

There are three stages of online transaction i.e. first - registration, second -
placing the order, and third - online payment. This online transaction is
completed by combining all three stages. Online transactions are used to buy
or sell any item on an online platform such as Flipkart, Amazon, or eBay etc

content in here:

1. Sign-in.
2. Sign-up.
3. Money transfer like two modes : bank to bank or self.
4. Bills and recharge like: Electricity, DTH , Recharge, Credit card bills ,
5. Credit card payment.
6. Let me explain now it works:

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1.SIGN-IN:

This is a sign-in page which check your one of us are not ..

The user must be one of the swiftcash member if user try to access it then it
show error that your are not one of us….

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So the only way to get access you must sign-up in swiftcash

2.SIGN-UP:

In sign-up page user must fill out every single details mentioned in it .

And then the user details will stored in database that help the user to access
their account just sign-in in swiftcash..

3.HOME: page

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After signing-in or signing-up user can go through the home page and there
user can experience the money transfer and bills and recharge payment..

While the user browse the home page the user can see the service that
swiftcash provide the user to fullfill the needs or use that the user seek for .

In home page the user can get to use money transfer method for BANK TO
BANK or SELF BANK that the user prefer . And also there is a another
service that it useful for user like bills payment and recharge payment.

And top right there is a contact that helps the user to contact with us anytime
and anything that the user need to ask or comment about our service or issues
that the user experienced while using our swiftcash.

4.CONTACT-US:

A Contact Us page is essential to building a brand’s website as it allows

visitors to contact you easily without leaving their browser.

They also give you the opportunity to capture leads and improve customer
service. Generally, visitors can also leave feedback or ask questions through
these channels. You’ll receive valuable information about your customers’
preferences and expectations if done correctly.

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A contact that helps the user to contact with us anytime and anything that the
user need to ask or comment about our service or issues that the user
experienced while using our swiftcash.The user can also see others feedback in
here .

5.MONEY TRANSFER:

Money transfer generally refers to one of the following cashless modes

of payment or payment systems.

Electronic funds transfer, an umbrella term mostly used for bank card-based
payments. The money is deducted from the sender's bank account. It is then
added to the recipient's bank account. That's how wire transfer works. Wire
transfers are mostly used to send money overseas.

Bank-to-bank transfers:
You can usually initiate a bank-to-bank wire transfer in person at your
bank or financial instruction’s local branch or through your online bank
account. You’ll usually need to provide the recipient’s full name, contact
information, and bank account details such as routing and transfer numbers.
Transfer fees will vary depending on your bank or credit union.

International bank transfers may require additional information, may take a

few days longer to complete than domestic transfers, and may require a higher
wire transfer fee. Please keep in mind that the receiving bank may also charge
a processing fee for wire transfers. Contact the receiving bank to get current
fee information.

Self bank Transfer:

To be able to transfer money on swiftcash, you first need to create your
UPI account on the app. In this process, swiftcash will ask you to link at least
one bank account from/to which you make money transfers.

If you wish to transfer money between two different accounts or more through
swiftcash, it is important that you link both your bank accounts with the
swiftcash app.

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NetBanking-Transfer:

Payment in this step is from the buyer's account. First, the buyer
transfers money through electronic methods to the seller's account. When that
money comes from the seller's account, then the seller dispatches the product
to the buyer's address.

The user can have use the service for bank to bank or self bank.
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Entering Account Number & IFSC – This the traditional way of payments and
it is also supported on UPI. You may enter the account number & IFSC of the
person you want to send money to, specify the amount and enter your PIN.
Your payment will be completed in a few seconds.

After entering your username, ph_no , password the user can enter the page

That helps to send money that user desire account.

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And when the user enter this page then the user need to fillup the details that
required .

Internet Banking:

Internet banking refers to the process of carrying out banking

transactions online. These may include many services such as transferring
funds, opening a new fixed or recurring deposit, closing an account, etc.
Internet banking is also referred to as e-banking or virtual banking. Internet
banking is usually used to make online fund transfers via NEFT, RTGS or
IMPS. Banks offer customers all types of banking services through their
website and a customer can log into his/her account by using a username and
password. Unlike visiting a physical bank, there are to time restrictions for
internet banking services and they can be availed at any time and on all 365
days in a year. There is a wide scope for internet banking services.

After filled up then when the user hit the submit button the transaction will be
done.

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That all the user money transferred to the account that the user need to send
money with swiftcash service.

The self bank method is similar to bank to bank transfer method.

6.BILLS AND RECHARGE PAYMENT:

In swiftcash we provide bills and recharge service that have few service
that help to user to instantly done there work . like electricity bills, credit card
bills,

Dth recharge , recharge and credit card payment..

Now make instant bill payments or recharges instantly with swiftcash. With
money loaded in the swiftcash wallet, it takes seconds to do your mobile
recharge , data plan or DTH recharges! swiftcash covers all the top operators
in India like Airtel, Jio, MTNL, Vi, Dish TV, Tata Sky & more. Just not that,
but you can also pay all your utility bills like electricity bills , gas, water,
insurance premium, cable etc, from anywhere, aytime.

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7.ELECTRICITY BILL:

Electronic bill payment is a feature of online, mobile and telephone

banking, similar in its effect to a giro, allowing a customer of a financial
institution to transfer money from their transaction or credit card account to a
creditor or vendor such as a public utility, department store or an individual to
be credited against a specific account. These payments are typically executed
electronically as a direct deposit through a national payment system, operated
by the banks or in conjunction with the government. Payment is typically
initiated by the payer but can also be set up as a direct debit.

In swiftcash we provide the service of electricity bill payment .by

entering your consumer id the user can make there payment done. Bill pay
services are usually a free feature of bank accounts, typically checking
accounts. After enrolling and providing your bank with your bill provider's
information, your bank will then pay your bills on time, deducting the bill
payment from the funds in your account.

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8.CREDIT CARD BILLS:

A credit card is a thin rectangular piece of plastic or metal issued by a

bank or financial services company that allows cardholders to borrow funds
with which to pay for goods and services with merchants that accept cards for
payment. Credit cards impose the condition that cardholders pay back the
borrowed money, plus any applicable interest, as well as any additional
agreed-upon charges, either in full by the billing date or over time.

In addition to the standard credit line, the credit card issuer may also grant a
separate cash line of credit (LOC) to cardholders, enabling them to borrow
money in the form of cash advances that can be accessed through bank tellers,
ATMs, or credit card convenience checks. Such cash advances typically have
different terms, such as no grace period and higher interest rates, compared
with those transactions that access the main credit line. Issuers customarily
preset borrowing limits based on an individual’s credit rating. A vast majority
of businesses let the customer make purchases with credit cards, which remain

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one of today’s most popular payment methodologies for buying consumer
goods and services.

In our swiftcash the credit bills like house rent , shop rent , social
maintainence bills can be done at the user preference that the user need to pay
their bills.

By entering the above form the user can pay their credit card bills like house
rent, shop rent, social maintainence .The user must fill the every field to done
the transactions. After filling the form the transaction will done.

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9.DTH RECHARGE:

DishTV India (stylised as dishtv) is an Indian satellite television

provider based in Noida, Uttar Pradesh with Yes Bank as its biggest
stakeholder. DishTV was launched by the Zee Group It ranked on the list of
media companies in Fortune India 500 roster of India's largest corporations in
Dish TV was also voted India's most trusted DTH brand according to the
Brand Trust Report 2014, a study conducted by Trust Research Advisory Dish
TV completed a merger with Videocon d2h, creating the largest DTH provider
in India at the time of merger.

In swiftcash the user can also pay their dth bill by entering customer id the
user get the offer that they need to be done their payment.
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Here the user can either pick up their payment as month wise pack or enter the
amount that the user wish to pay for their dth service they have in use.

The transaction take time to be done the user need to choose their pack their
usage.

This work only if the customer id is correct with the customer name and their
must be in register in that dth connected service then only the customer id
works and the payment will done through our swiftcash.

And also thankyou for using our service .

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10.RECHARGE:

One of the first things you will do with your new SIM card is topping it
up with value. This is also referred as recharging, reloading or refilling.
Prepaid SIM cards may come with an initial credit, but this is mostly only to
be used as an appetizer and good for start-up and a short time only. For your
convenience, you can think of topping it up right away at the point of
purchase.

prepaid SIM online

A prepaid mobile plan allows you the freedom and flexibility to use
your mobile. With a prepaid SIM card, you pay for the mobile services before
using them. The amount of usage is based on the type of plan that you
recharged your SIM card with. Once your mobile services expire, you do not
have to top-up immediately. You can get a new plan at your convenience and
switch mobile plans every time you make a recharge. for a non-contract

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option, Airtel prepaid plans are an ideal option. Let’s take a look at the
documents required to get a prepaid SIM.

After entering the customer id the page will show you to choose the pack or
enter the amount you need to recharge .Then the transaction will complete.

That’s it the recharge is done that user entered customer id .

Now you can enjoy your data as you can.

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11.CREDIT CARD PAYMENT:

A credit card is a financial tool offered by a bank as a type of loan, with a line
of revolving credit that you can access via your card (and your card’s account).
The loan behind your credit card has a limit — known as a credit limit — that
you can use for everyday expenses or large purchases. Like traditional loans, a
credit limit is subject to interest, known as APR, which is added to your card
bill if you don’t pay off your balance each month.

Credit cards can lead to debt if you spend more than you can afford to pay off
every month. But, used wisely, a credit card can be a powerful financial tool
and a key part of building credit so you can achieve future goals, like buying a
car or a home. You can also use credit cards to get rewards (such as cash back)
for purchases, and to access card benefits.

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In swiftcash credit card payment is there the user need to input there card
details and hit the submit button .then the user transaction will be done.

A credit card is different. Think of it as a card that literally offers you

credit — that is, the ability to buy something now and pay for it later. If you
can’t pay off your credit card bill in full, you have the option to pay it off over
time. Most credit card issuers charge interest on unpaid balances, but for some
people, the flexibility of carrying a balance when they need to is more than
worth the extra interest charges.

Important credit card terms

When considering applying for a credit card, there are many terms that
may seem unfamiliar or confusing but understanding what they mean is key to
finding the best card for your lifestyle. Here are some of the most common

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TERMS YOU MAY ENCOUNTER:

Interest rate: Interest is a fee that banks charge on the line of credit they
extend to their customers. Interest rates vary depending on the card and the
credit score of the customer applying. You will be charged interest if you carry
a balance from month to month.

Annual percentage rate (APR): The APR of a credit card is another name for
the interest rate. APRs typically range from 12 percent to more than 24
percent.

Credit limit: A credit limit is the spending limit on a credit card. For people
with limited or no credit history, an initial credit limit may only be a few
hundred dollars. For more veteran card owners, credit limits can be very high.

Credit score: A credit score is a rating that allows banks and credit card
issuers to determine your creditworthiness. Ranging from 300 to 850, there are
a number of factors that determine your credit score.

Credit card balance: A credit card balance is the amount of money you have
spent on your credit card and what you owe to the credit card company at the
end of your billing cycle.

Cash advance: A cash advance is when you use your credit card to withdraw
cash. Cash advances are subject to high fees, have no grace period and are
typically not recommended unless absolutely necessary.

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Frontend-coding:

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Backend – coding:

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CONCLUSION:

The e-commerce sector is changing in a number of different ways

thanks to digital payments. It is pretty much expected of you to provide online
payment alternatives as a company owner and a client.

Online payments have their own set of drawbacks that you need to be
aware of, despite the fact that they are often thought to be advantageous for
many obvious reasons. After all, in the modern digital environment, every
useful function carries a little amount of danger. Most of these drawbacks are
manageable with proper precautions and management.

REFERENCE:

https://www.nttdatapay.com/blog/advantages-and-disadvantages-of-online-payments/

https://www.djangoproject.com/

https://www.bankrate.com/finance/credit-cards/what-is-a-credit-card/#terms

https://fatora.io/blog/online-payment-its-advantages-and-disadvantages/

https://en.wikipedia.org/wiki/Python_(programming_language)

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