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Seamless web based framework for leveraging digital transactional process

We use FIDO2 technology in this project. FIDO2, a recently evolved technology by FIDO Alliance is on its way to prove itself to be instrumental in Passwordless authentication frameworks. However, it can used for much more than just authentication. This project proposes a centralized and secure system for easy web based money transfer. we use device attestation to eliminate all common scams and fraudulent activities. We aim to have a partnership with various banks and trusted companies It guarantees easy record maintenance and hence the users will not have to go through lengthy processes.

Contributors

  1. Aditya Mitra
  2. Rishita Shaw
  3. Anisha Ghosh

Objective

The security of e-banking has received attention due to the fraudulent behavior of fraudsters; the absence of adequate e-banking security has kept many people away from the service till today. Internet Banking Fraud is a fraud or theft committed using online technology to illegally remove money from a bank account and/or transfer money to an account in a different bank. With the current increase in popularity of internet banking more people become prone to fall in the traps of cyber criminals.​ Hence, we introduce Pay Easy, which enables FIDO2 via simple API calls across all supported browsers and platforms on billions of devices consumers use every day. FIDO2 cryptographic login credentials are unique across every website, biometrics or other secrets like passwords never leave the user’s device and are never stored on a server. This security model eliminates the risks of phishing, all forms of password theft and replay attacks. Because FIDO keys are unique for each Internet site and each user, they cannot be used to track you across sites hence ensure highest level of privacy.​

Tech Stacks

Technologies to be used:
• FIDO2 Specifications
• Web NFC
• Microsoft Azure.

FAQ

FAQ:

  1. What if the user loses the FIDO2 key? – he can login via Email OTP to assign new FIDO2 key.
  2. When the user is sick how can he login? – Since FIDO2 is a Passwordless technology, the family members of the user can use the security key.
  3. What are the system requirements for the user? – Any android phone with Google Chrome 89+ and NFC reader.
  4. How will the records be stored? – The records will be stored and recorded in the database. User may click on the appropriate option in order to view previous transactions history