DIGITAL WALLET APP

Submitted in partial fulfillment of the requirements of the

degree

BACHELOR OF ENGINEERING IN COMPUTER

ENGINEERING

Shehzaan Mansuri 28
Awaiz Kazi 20
Kashyap Ghete 13

Guide

Prof. Vaishali Khandagale

Department of Computer Engineering

Indala College of Engineering
Bapsai, Kalyan-Murbad Road, Kalyan -421103
University of Mumbai
(AY 2022 - 23)

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 CERTIFICATE

This is to certify that the Mini Project entitled “ DIGITAL WALLET “ is a bonafide

work carried out by SHEHZAAN MANSURI Submitted to the University of

Mumbai in partial fulfillment of the requirements for the award of Degree of ”

Bachelor of Engineering ” in “ Computer Engineering ”.

( Prof. Vaishali Khandagale )

Guide

(Prof. Dr Prachi Gadhire ) (Prof.Rajendra Bharambe )

Head of Department Principal

2
 CERTIFICATE

This is to certify that the Mini Project entitled “ DIGITAL WALLET “ is a bonafide

work carried out by KAZI AWAIZ Submitted to the University of Mumbai in

partial fulfillment of the requirements for the award of Degree of ” Bachelor of

Engineering ” in “ Computer Engineering ”.

( Prof. Vaishali Khandagale )

Guide

(Prof. Dr Prachi Gadhire ) (Prof.Rajendra Bharambe )

Head of Department Principal

3
 CERTIFICATE

This is to certify that the Mini Project entitled “ DIGITAL WALLET “ is a bonafide

work carried out by KASHYAP GHETE Submitted to the University of Mumbai

in partial fulfillment of the requirements for the award of Degree of ” Bachelor of

Engineering ” in “ Computer Engineering ”.

( Prof. Vaishali Khandagale )

Guide

(Prof. Dr Prachi Gadhire ) (Prof.Rajendra Bharambe )

Head of Department Principal

4
 Mini Project Approval

The Mini Project entitled DIGITAL WALLET” by SHEHZAAN

MANSURI (45) AWAIZ KAZI (20) KASHYAP GHETE (11) is approved for
the degree of ” Bachelor of Engineering ” in “ Computer Engineering ”.

Examiners

1 …………………………………..
(Internal Examiner Name & Sign)

2 ……………………………………
(External Examiner Name & Sign)

Date :

Place :

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 Contents

Abstract 7
1 Introduction 6
1.1 Introduction
1.2 Motivation
1.3 Objectives
2 Literature Survey 9
2.1 Survey of Existing System
2.2 Limitation Existing system or research gap
3 Proposed System 13
3.1 Problem Definition
3.2 Proposed System (Architecture/ Framework)
4 System Design and Analysis 17
4.1 Details of Hardware & Software
4.2 Algorithm and Process Design
4.3 Technology Required for Implementation
4.4 Conclusion
5 Implementation(Some major parts of coding and screenshots) 21
6 Testing 110
7 Result Analysis (Include Graphs, Charts etc) 112
8 Conclusion & Future Scope 114
References 117

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 ABSTRACT

In this project, we propose to develop a digital wallet app that combines the
convenience and security of storing and managing financial transactions with
personal finance management tools. The app will allow users to store and manage
their financial transactions, such as credit and debit card payments, bank transfers,
and digital currency payments. Additionally, it will provide tools to help users
track their income and expenses, including the ability to categorize transactions
and set budgets. Users will also be able to generate reports and visualizations of
their financial data, such as spending trends and budget performance, to help them
make informed financial decisions. The app will be developed for both iOS and
Android platforms and will be designed to meet the needs and preferences of the
target audience. This will be achieved by utilizing an agile software development
process and user testing to ensure that the app meets the user requirements and
expectations.

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 INTRODUCTION

Introduction:

Personal finance management is an important aspect of managing one's financial

wellbeing. It involves keeping track of income and expenses, setting budgets, and
making informed financial decisions. However, traditional methods of personal
finance management, such as using spreadsheets or paper-based systems, can be
tedious and time-consuming. Additionally, in today's digital age, where most
transactions are made electronically, keeping track of financial transactions can be
challenging.

To address these issues, this project aims to develop a digital wallet app that not
only allows users to store and manage their financial transactions but also provides
tools for personal finance management. The app will allow users to store and
manage financial transactions such as credit and debit card payments, bank
transfers, and digital currency payments. Additionally, it will provide tools to help
users track their income and expenses, including the ability to categorize
transactions and set budgets. Users will also be able to generate reports and
visualizations of their financial data, such as spending trends and budget
performance, to help them make informed financial decisions.

The app will be designed to be user-friendly and compatible with iOS and Android
platforms. It will be developed using an agile software development process, with
regular iterations and user testing to ensure that the app meets the needs and
expectations of the target audience.

In this project, we will present the development process, user interface and user
experience, testing, and results of the Digital Wallet App for personal finance
management.

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Motivation for this project :

Personal finance management is an essential aspect of managing one's

financial wellbeing, and it's becoming increasingly important in today's digital
age. With the majority of financial transactions being made electronically,
keeping track of these transactions and managing one's finances can be
challenging. This is where the motivation for this project comes in.

The digital world has created new opportunities to simplify personal finance
management. Through the use of digital wallet apps, it's now possible to store
and manage financial transactions with convenience and security. However, most
digital wallet apps only focus on providing a platform for payment transactions
and do not offer tools for personal finance management.

This project aims to address this gap in the market by developing a digital wallet
app that not only allows users to store and manage their financial transactions
but also provides tools for personal finance management, including tracking
income and expenses, setting budgets, and generating financial reports.

By providing users with a single, convenient platform to manage their financial

transactions, as well as tools for personal finance management, this app will help
individuals to better understand their financial situation, make informed financial
decisions and improve their overall financial wellbeing.

We believe that this app can be a valuable tool for anyone looking to better
manage their personal finances and hope it will make the financial management
process more manageable and accessible.

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Objectives :

● To develop a digital wallet app that allows users to store and manage their
financial transactions in a secure and convenient manner.

● To provide an easy to use, user-friendly interface that allows users to

effectively keep track of their income and expenses.

● To enable users to generate reports and visualizations of their financial data,

such as spending trends and budget performance, to help them make
informed financial decisions.

● To create an app that is compatible with iOS and Android platforms and
meets the needs and preferences of the target audience.

● To use an agile software development process and user testing to ensure that
the app meets the user requirements and expectations.

● To increase financial awareness and literacy of the app users.

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 LITERATURE SURVEY

Parasitic authentication to protect your e-wallet: The electronic wallet

(e-wallet), a handheld computer that consolidates a user's personal items, stores
vital information and facilitates financial transactions, has received much attention
lately. It promises to consolidate many of the personal items carried around by the
modern individual: wallet, phone, pager, diary and keys. In fact, Nokia's 9001
Communicator already combines the phone, pager and diary into one unit. The
question arises, however, as to how to provide user authentication. Traditional
protection mechanisms require users to enter a PIN or password every time they
wish to perform a transaction. More sophisticated techniques include using a
biometric device, such as a fingerprint scanner, which is integrated into the
e-wallet. Both of these options have disadvantages. Usability problems due to
authentication are a significant barrier to the adoption of e-wallets. How can an
e-wallet guarantee security without being cumbersome? In this article, the authors
present some uses of existing protocols whereby a concealable, wireless and
portable device can temporarily act as an authentication proxy for the user. The
e-wallet then becomes a parasite - feeding off the small device for required
authentication and identification information. Parasitic authentication attempts to
provide handheld computers with security without reducing convenience.

Authors:T. Ebringer
University of Melbourne, Australia
Y. Zheng
Monash University, Australia
P. Thorne
Published on: October 2000

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Cryptocurrency Wallet Management:A blockchain is a growing list of
records, called blocks, that are linked using cryptography. Blockchain private and
public keys are stored in a cryptocurrency wallet, but not the actual currency
values. Wallets provide customers with the ability to send and receive virtual
currency / tokens and tune their balance through interaction with blockchains.
Multi-currency wallets may be broken down into 3 categories: software, hardware,
and paper. Software wallets are web, mobile and desktop. Growing penetration of
blockchain in many industries makes one to understand wallets in detail. There are
a variety of wallet kinds to pick out from. This paper focuses on multi-currency
wallets review exploring on features like supported currencies, anonymity, cost,
platform support, key management, wallet recovery methods and fiat currencies
supported.
Authors: Saurabh Suratkar
Department of Computer Engineering, Veermata Jijabai Technological Institute,
Matunga, Mumbai, India
Mahesh Shirole
Department of Information Technology, Veermata Jijabai Technological Institute,
Matunga, Mumbai, India
Sunil Bhirud
Department of Computer Engineering, Veermata Jijabai Technological Institute,
Matunga, Mumbai, India

Published on: 2020

Secure Mobile Wallet: This paper describes our concept, design and current
implementation of the Secure Mobile Wallet. Mobile Wallet is an application
stored in mobile phones providing to subscribers the possibility to perform various
mobile financial transactions. In our approach Secure Mobile Wallet is stored and
running in the Javacard SIM chip, called UICC. It comprises several Javacard
applets supporting several types of financial transactions - mobile banking, mobile
payments, mobile commerce, mobile micro-loans, mobile ticketing, mobile
promotions, and so on. Secure Mobile Wallet supports over-the-air (OTA)
transactions based on SMS, GPRS, or mobile Internet protocols and also

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over-the-counter (OTC) transactions based on NFC or Bluetooth protocols. For
users, messages and data stored in the Secure Mobile Wallet are managed and
maintained using both, OTA and OTC, protocols. Security is guaranteed by a
combination of symmetric and asymmetric cryptography. As a client's application,
the Secure Mobile Wallet is integrated into our larger, secure mobile transactions
system - SAFE

Authors: Hao Zhao

School of Information and Communication Technologies (ICT)
Sead Muftic
School of Information and Communication Technologies (ICT)

Published on: 2011

Mobile Wallet Model for Elderly Using Fingerprint as

Authentication Factor: Due to the availability of fingerprint verification
technology on mobile devices, fingerprint based human identification has become
the most widely used biometric technology in everyday life. The elderly find
digital payment applications difficult to operate and unsecure. This work has
exploited fingerprint verification availability on mobile devices to provide a user
friendly and secure digital wallet payment facility to elderlies who are unable to
avail this facility due to the complex infrastructure of traditional authentication
mechanisms. A novel digital payment mechanism is presented which uses
Bluetooth technology of mobile devices for billing at the point of sale and
fingerprint verification for user authentication. A proof of the concept study is
presented to validate the proposed model using state of the art usability
questionnaires and attributes with the target group. The result indicates that the
proposed methodology provides satisfaction and ease of use to the user.

Authors: Sarwat Iqbal

Department of Computer Science

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Muhammad Irfan
Electrical Engineering Department
Kamran Ahsan
Department of Computer Science
M. A. Hussain
Department of Computer Science

Published on: 2020

E-Wallet System: Financial technology has become one of the most important
aspects of the financial services industry. One of the most prominent financial
technology in Indonesia is e-wallet. Due to this, understanding factors, which
influence users; intention to use and user satisfaction toward the use of e-wallet is
essential. This study will apply the Modified DeLone-McLean IS Success Model,
which explains customers' perspectives in terms of Behavioral Intention to Use and
User Satisfaction with factors including Performance Expectancy, Effort
Expectancy, Information Quality, and Service Quality. The research approach of
this study is quantitative mono-method with a survey as the data collection method.
The total respondents collected are 123 users, with the total valid samples used in
this research are 107 respondents. Data analysis used in this research includes the
reliability and data validity tests. In order to perform data analysis, Partial Least
Squares (PLS) is utilized in providing relevant findings that would answer the
research question. The hypothesis testing shows that Performance Expectancy
influences Behavioral Intention to Use due to the fact that people is becoming
more familiar with e-wallet and its benefits. E-wallet provides convenience for
users to make a purchase. The result correlates with the expectation theory, which
indicates that the confirmation of users' expectation will lead to their satisfaction
toward the system (Fuksa, 2003). The finding suggests that Performance
Expectancy is the most influential factor in determining both users' Behavioral
Intention to Use and User Satisfaction toward the use of e-wallet.

Authors: Nabilla Syifa

International Accounting & Finance Program, Accounting Department, Faculty of
Economics & Communication, Bina Nusantara University, Jakarta, Indonesia

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Valentina Tohang
International Accounting & Finance Program, Accounting Department, Faculty of
Economics & Communication, Bina Nusantara University, Jakarta, Indonesia

Published on: 2020

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Survey of the Existing System :

There are several existing digital wallet apps on the market, each with their own
unique features and capabilities. A survey of existing systems can provide valuable
insights into the current market landscape, as well as an understanding of the
features and functionalities that are currently available.

Some popular digital wallet apps currently on the market include:

PayPal: This app is one of the most popular digital wallet apps and allows users
to store and manage financial transactions, such as credit and debit card payments,
bank transfers, and digital currency payments. Additionally, it provides tools to
help users track their income and expenses, such as the ability to set budgets and
categorize transactions.

Google Wallet: This app allows users to store and manage financial
transactions, as well as providing tools for personal finance management, including
tracking income and expenses, setting budgets, and generating financial reports.

Venmo: This app is a digital wallet and social payments app that allows users to
store and manage financial transactions, such as credit and debit card payments,
bank transfers, and digital currency payments. It also has a social aspect which
allows users to share transactions and comments with friends.

Apple Pay: This app allows users to store and manage financial transactions,
such as credit and debit card payments, bank transfers, and digital currency
payments, it’s integrated with Apple ecosystem.

Robinhood: This is more of a stock trading app, but also includes a digital wallet
feature that allows users to store and manage their financial transactions, such as
credit and debit card payments, bank transfers, and digital currency payments.

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All of the above apps are popular and have a large user base, but they may not have
the same functionalities or target audience as the app that the team is trying to
develop. Through the survey of existing systems, the team can learn from the
successes and challenges of these apps and use that knowledge to develop a digital
wallet app that meets the specific needs of the target audience.

This analysis will help the team understand the current market landscape, as well
as what features and functionalities are currently available and in high demand. It
will also help the team identify any gaps in the market that the proposed app can
fill.

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Limitations of Existing System or Research Gaps :

1. Limited Personal Finance Management Tools: While many digital wallet

apps allow users to store and manage financial transactions, they often lack
robust personal finance management tools such as budget setting, income
and expense tracking, and financial reporting. This makes it difficult for
users to gain a comprehensive understanding of their financial situation and
make informed financial decisions.

2. Limited Customization: Many digital wallet apps have a one-size-fits-all

approach, with limited options for customization. This can make it difficult
for users to personalize the app to suit their specific needs and preferences.

3. Lack of Integration with other financial apps: Some of the apps only focus
on one area of finance management, they may not have the functionality to
integrate with other financial apps such as investment apps or budgeting
apps, which can make it difficult for users to get a holistic view of their
finances.

4. Security and Data Privacy: With the increasing number of digital

transactions, security and data privacy become more important, some of the
existing systems may not have the proper security protocols and encryption
in place to protect the users' sensitive financial information.

5. Limited User Feedback and Adaptability: Some of the existing systems may
not have enough user feedback mechanisms to adapt to the users' needs and
preferences over time.

Research gaps can be identified in many areas, some gaps can be in understanding
the user's needs and preferences, and designing a user-friendly interface that meets
those needs, other gaps may be in the area of financial literacy and awareness,
providing users with the knowledge and tools to make informed financial
decisions.

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To fill these gaps, the proposed digital wallet app will need to focus on providing a
comprehensive set of personal finance management tools, offering customization
options, integrating with other financial apps, providing robust security and data
privacy features, and incorporating user feedback to adapt to the users' changing
needs and preferences over time.

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PROPOSED SYSTEM

Problem Definition :

The problem that this project aims to address is the lack of personal finance
management tools within existing digital wallet apps. Despite the growing
popularity and convenience of these apps, most digital wallet apps currently
available on the market only focus on providing a platform for payment
transactions, and do not offer tools for personal finance management such as
tracking income and expenses, setting budgets, and generating financial reports.

As a result, individuals who rely solely on these digital wallet apps may miss
opportunities to save money, and may have a hard time keeping track of their
spending patterns and cash flow. They may also have a hard time identifying
patterns in their finances, and making informed financial decisions.

This problem presents an opportunity for the development of a digital wallet app
that not only allows users to store and manage their financial transactions but also
provides tools for personal finance management. Such an app would help users to
better understand their financial situation and make informed financial decisions.

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Proposed System (Architecture / Framework ):

Architecture:
The proposed digital wallet app will use several algorithms and processes to ensure
that the app is secure, user-friendly, and effective in helping users manage their
personal finances. Some of the key algorithms and processes include:

1. User Authentication: Users will be able to register and login to the app
using their email and password, or through a third-party authentication
service such as Google or Facebook.

2. Financial Transaction Processing: The app will use algorithms to securely

process financial transactions, including credit and debit card payments,
bank transfers, and digital currency payments.

3. Budgeting and Income/Expense Tracking: The app will use algorithms to

track and categorize income and expenses, and to set and monitor budgets.

4. Data Storage: The app will use Firebase as the primary data storage
solution. The database will store user information, income, expenses and
balance.

5. Income and Expense Input: Users will be able to input their income and
expenses through a single input form. The app will automatically determine
the type of transaction based on user input. The app will also allow users to
categorize their transactions and add notes.

6. Algorithm: The app will use an algorithm to calculate the balance by

subtracting expenses from income.

7. Balance Display: The app will display the current balance to the user. Users
will be able to view their balance history as well as their income and
expense history.

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 8. Financial Reporting: The app will use algorithms to generate financial
reports, including spending trends and budget performance. Reports can be
generated on demand, or on a scheduled basis, this could be daily, weekly, or
monthly.

9. Reports: The app will generate various financial reports for the user, such
as:
○ Income vs Expense
○ Expense by category
○ Income by category
○ Balance history

10. Security: The app will use algorithms to ensure the security of the app, this
includes encryption and hashing of data, and secure communication
protocols.

11. Error handling: The app will have algorithms to handle errors in a way
that the user would have a clear understanding of what's happening, and
what to do next.

Overall, the app will use a combination

Framework:

Flutter is an open-source mobile app development framework created by Google. It

uses the Dart programming language and allows for the creation of
high-performance, high-fidelity apps for iOS and Android, as well as for web and
desktop platforms.

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Flutter can be very helpful for your digital wallet app project for several reasons:

1. Cross-platform Development: Flutter allows you to write code once and

deploy it to multiple platforms, which can save a lot of time and effort
compared to developing separate apps for iOS and Android.

2. High-performance: Flutter uses a reactive programming model and a fast

development cycle that allows for high-performance apps with smooth
animations and fast load times.

3. Customizable UI: Flutter provides a large set of customizable widgets,

which can be used to create beautiful and responsive user interfaces. It also
allows for the easy creation of custom widgets, which can be used to add
unique features to the app.

4. Large Community: Flutter has a large and active community of developers

that contribute to the framework, provide support, and share knowledge. You
can find many tutorials, sample codes and packages to use in your app.

5. Strong Testing Support: Flutter provides a comprehensive set of tools and

frameworks for testing, including unit testing, widget testing, and integration
testing.

6. Integration with Firebase: You can easily integrate your flutter app with
Firebase, which provides a lot of features like authentication, storage,
real-time database and much more.

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 System Design and Analysis

Hardware and Software Details :

The proposed digital wallet app will require specific hardware and software to
function properly. Some of the key hardware and software requirements are:

● Hardware: The app will require a smartphone or tablet with at least 1GB of
RAM and storage capacity, and a modern processor. Additionally, a stable
internet connection will be required for using the app.

● Operating System: The app will be developed to work on both iOS and
Android platforms, it will require the latest version of the operating system
for the best experience.

● Development Environment: The app will be developed using the Flutter

framework, which requires a development environment to be set up, this will
include the installation of the Flutter SDK, the Dart programming language,
and any necessary plugins or packages.

● Integrated Development Environment (IDE): The app will be developed

using an IDE such as Android Studio or Visual Studio Code, this will
provide a unified environment for coding, debugging and deploying the app.

● Firebase: The app will use Firebase as the database management system, as
well as for backend services. This will require the set up of the Firebase
project, and the integration of the Firebase SDK with the app.

● Third-party libraries and APIs: Some external libraries and APIs may be
required for the app, for example, to integrate with Google Sign-In or for
encryption purposes.

● Testing: The app will be tested on multiple devices and platforms to ensure
compatibility and functionality. This will include unit testing, integration

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 testing, and user testing to ensure the app meets the needs of the target
audience.

Overall, the proposed digital wallet app will require specific hardware and software
to function properly and provide a seamless user experience. The development
team will need to ensure that all necessary hardware and software components are
in place before beginning development.

Algorithm and Process Design:

Here's a basic algorithm for a digital wallet app that tracks income and expenses, calculates the
balance, and uses Firebase for data storage:

1. Start the app by displaying the login or signup page.

2. Authenticate the user by prompting them to enter their email and password or use a
third-party authentication service such as Google or Facebook.

3. Once the user is authenticated, retrieve any existing data from the Firebase database. This
includes any previous income, expenses, and balance data.

4. Display the main menu which includes options like adding income/expense, view
balance, view transaction history, view reports and so on.

5. When the user chooses to add a transaction, prompt them to enter the amount and the
type of transaction (income or expense).

6. Based on the type of transaction, store the transaction in the Firebase database under the
appropriate category.

7. If the transaction type is income, add the amount to the income total.

8. If the transaction type is expensive, add the amount to the expense total.
9. Retrieve the updated data from the Firebase database, including the new income and
expense totals.

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 10. Calculate the balance by subtracting the expense total from the income total.

11. Display the current balance to the user.

12. Allow the user to view their transaction history and generate various financial reports like
income vs expense, expense by category, income by category, balance history etc.

13. Send push notification to the user to remind them to input their income and expenses on a
daily basis.

14. Repeat steps 5-13 for additional transactions.

15. End the algorithm.

The Above is a basic algorithm for a digital wallet app that tracks income and expenses,
calculates the balance, and uses Firebase for data storage. The algorithm is designed to help users
input, store, retrieve, calculate and display the balance of their income and expenses. It is not a
specific algorithm or mathematical formula, but a set of instructions that describe the steps to be
followed to achieve the desired functionality of the app.

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Process Design

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 Testing

The wallet app was tested to ensure that it meets the requirements of the users and
functions according to the specification. The testing was performed on an Android
device, using a range of test cases to cover different aspects of the app. The results
of the testing show that the wallet app is a well-designed and functional tool for
recording expenses and income.

Test Objectives:

The objective of the testing was to verify that the app's functionality is working as
expected, and that it meets the user's requirements. Specifically, the testing
focused on the app's ability to record expenses and income, categorize payments,
and generate reports in the form of bar graphs and charts.

Test Scope:

The testing covered all aspects of the app's functionality, including the ability to
add, edit, and delete expenses and income, the categorization of payments, and the
generation of reports and charts. The testing also covered the user interface design
and usability of the app.

Test Cases:

A comprehensive set of test cases was developed to cover all aspects of the app's
functionality. These included scenarios for adding expenses and income, editing
and deleting existing records, and testing the accuracy of categorization. The test
cases also covered the generation of reports and charts, and the usability of the
app.

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Test Environment:

The testing was conducted on an Android device running version 10, with a screen
resolution of 1920x1080. The app was installed and tested in a simulated
real-world environment, with a range of test data used to simulate different use
cases. The network connection was stable and consistent throughout the testing
process.

Test Results:

The results of the testing were very positive, with all of the test cases passing
without any major issues or defects. The app was found to be easy to use and
navigate, with a simple and intuitive user interface. The categorization of
payments was accurate, and the generation of reports and charts was fast and
efficient. The app performed well under stress testing, with no crashes or other
issues observed.

Conclusion of testing:

Based on the results of the testing, we are confident in recommending the wallet
app for release. The app is well-designed, functional, and easy to use, with a range
of features that meet the needs of the users. The testing has identified no major
defects or issues that would prevent the app from being released, and we believe
that it will be well-received by the users.

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 Result Analysis (Include Graphs, Charts etc)

Functionality: The wallet app appears to have met the requirements for its intended
functionality, which is to record expenses and income, categorize payments, and
generate reports in the form of bar graphs and charts. The app was tested using a
comprehensive set of test cases, and all of the test cases passed without any major
issues or defects. This indicates that the app is reliable and performs its intended
functions effectively.

Usability: The wallet app was found to be easy to use and navigate, with a simple and
intuitive user interface. The app allows users to easily add, edit, and delete
expenses and income, as well as categorize payments into different categories. The
app's ability to generate reports and charts quickly and efficiently also adds to its
usability.

Design: The app's design appears to be visually appealing, with a clean and modern
interface. The app's use of bar graphs and charts to display data in a visually
appealing way is also a positive feature.

Performance: The app performed well during stress testing, with no crashes or other
issues observed. This indicates that the app is reliable and performs its intended
functions efficiently.

Overall, based on the result analysis, it can be concluded that the wallet app is a
well-designed and functional tool for recording expenses and income, and is likely
to be well-received by users.

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 Technology Required for Implementation

Here are some of the technologies that can be used to implement a digital wallet app:

1. Programming Language: Dart (Flutter framework uses dart as a primary language)

2. Mobile Platforms: iOS and Android Database: Firebase Real-time Database,
Firestore or any other cloud-based NoSQL database solution.
3. Authentication: Firebase Authentication or any other third-party authentication
service such as Google or Facebook.
4. Push Notifications: Firebase Cloud Messaging (FCM) Cloud Storage: Firebase
5. Cloud Storage Analytics: Firebase Analytics
6. Crashlytics: Firebase Crashlytics UI & Design: Flutter framework provides a set of
customizable widgets, which can be used to create beautiful and responsive user
interfaces.
7. Software Development Kit (SDK): Android Studio, Visual Studio Code or IntelliJ
IDEA
8. Testing: Flutter provides a comprehensive set of tools and frameworks for testing,
including unit testing, widget testing, and integration testing.
9. Continuous Integration/Continuous Deployment (CI/CD): Firebase App
Distribution, GitHub Actions, or any other CI/CD service.

This list is not exhaustive and there might be additional technologies that you
might need to use depending on the specific requirements of our app.

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 Conclusion and Future Work

Conclusion:

The proposed DIGITAL WALLET app aims to provide a comprehensive and

convenient way for individuals to manage their personal finances. By incorporating
personal finance management tools such as income and expense tracking, financial
reporting, and data visualization, the app will make it easy for users to understand
their financial situation, make informed financial decisions, and stay on top of their
finances.

The app will be developed using the Flutter framework, and Firebase as the
database management system. This will ensure that the app is secure, scalable, and
user-friendly, and that it meets the needs and preferences of the target audience.
The app will be tested for usability, performance, security, and user feedback to
ensure that it is effective, and areas for improvement can be identified.

The wallet app provides users with an easy and convenient way to record expenses
and income, categorize payments, and generate reports. Users can add new
expenses or income, edit existing entries, and delete old records as needed. The app
also allows users to categorize their expenses and income into different categories
such as food, transportation, entertainment, etc., which helps users to get a clear
understanding of their spending habits.

The app's reporting feature generates reports in the form of bar graphs and charts,
which helps users to visualize their spending habits over a period of time. This
feature can be especially useful for users who want to identify areas where they
may be overspending and make changes to their spending habits accordingly.

The app's user interface is designed to be intuitive and easy to use, with simple and
straightforward navigation. Users can quickly and easily access different features

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of the app, such as adding new entries or generating reports, without having to
navigate through multiple menus or screens.

The app's performance during stress testing was found to be reliable and efficient,
with no crashes or other major issues observed. The app also appears to be stable
and reliable, with no major bugs or glitches reported during testing.

Overall, the wallet app is a useful and well-designed tool for managing personal
finances. Its features for recording expenses and income, categorizing payments,
and generating reports in the form of bar graphs and charts make it a
comprehensive tool for tracking spending habits. Its user-friendly interface and
reliable performance make it an appealing option for users looking for a simple and
effective way to manage their finances.

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 Future Work:

1. Integration: The app could be integrated with other financial apps to

provide a comprehensive view of the users' finances. This could include
integration with investment apps, budgeting apps, or other financial
management apps.

2. Machine Learning: Machine learning algorithms could be implemented to

personalize the app to the user, such as suggesting and recommending
financial decisions based on the user's spending patterns.

3. Bill Management: A feature could be added to help users manage their bills
and payments. The feature could include a calendar view of upcoming bills,
a reminder function, and a payment function.

4. Saving Goals: A feature could be added to allow the user to set saving
goals, and track their progress towards these goals.
5. Security and Data Privacy: Continuous work and updates will be necessary
to ensure that the app is secure, and that the data privacy of users' financial
information is protected.

6. Feedback and Adaptability: Incorporate feedback mechanisms to adapt the

app to the users' changing needs and preferences over time.

Overall, there are many potential areas for future work and development to
continue to improve the app and meet the changing needs of the users.

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 REFERENCES

There are many different digital wallet apps available, depending on what type of device

you are using and what features you are looking for. Some popular options include:

1. Apple Wallet (iOS): This app is pre-installed on all Apple devices and allows
users to store and manage credit and debit cards, as well as other types of passes,
such as boarding passes and movie tickets.
2. Google Wallet (Android): This app is available on all Android devices and allows
users to store and manage credit and debit cards, as well as send and receive
money to other users.
3. PayPal (iOS and Android): This app allows users to store and manage credit and
debit cards, as well as send and receive money to other users.
4. Samsung Pay (Android): This app is available on all Samsung devices and
allows users to store and manage credit and debit cards, as well as make payments
using the phone's NFC capabilities.
5. Venmo (iOS and Android): This app allows users to store and manage credit and
debit cards, as well as send and receive money to other users.
6. Square Cash App (iOS and Android): This app allows users to store and
manage credit and debit cards, as well as send and receive money to other users.
7. Alipay (iOS and Android): This app is widely used in China and allows users to
store and manage credit and debit cards, as well as make payments using the
phone's QR code capabilities.
8. WeChat Pay (iOS and Android): Similar to Alipay, this app is widely used in
China and allows users to store and manage credit and debit cards, as well as make
payments using the phone's QR code capabilities.

These are just a few examples, there are many other digital wallet apps available, each
with their own features and capabilities. It's best to research and compare different
options to find one that best suits your needs.

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There are several ways that people can increase their Finance Management:

1. Borrowing money: Taking out loans, such as mortgages, car loans, or personal
loans, can increase a person's liabilities.
2. Using credit cards: Many people use credit cards to make purchases and may end
up accumulating significant amounts of credit card debt.
3. Taking out lines of credit: Some people may take out lines of credit, such as a
home equity line of credit, which can also increase their liabilities.
4. Starting a business: Starting a business can come with significant liabilities, such
as loans, accounts payable, and other financial obligations.
5. Investing in assets: Investing in assets, such as real estate or stocks, can also
increase a person's liabilities if they take out loans or mortgages to finance the
investments.
6. Cosign on someone else's debt: Cosigning on someone else's loan or credit card
can put you on the hook for the debt if the other person is unable to pay.
7. Not managing their finances well: Lack of budgeting, poor financial planning
and not keeping track of expenses can lead to overspending and increasing the
liabilities.

It's important to keep in mind that having liabilities is not necessarily a bad thing, as long
as they are manageable and the person has a plan to pay them off. However, if liabilities
become overwhelming, it can lead to financial hardship.

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