DESIGN AND IMPLEMENTATION OF DIGITAL CASH TRANSACTION SYSTEM

ABSTRACT
This Digital Cash Transaction System is the act of exchanging goods and services is an old and enduring venture. The fact that man cannot satisfy his own needs all by himself has necessitated the need to trade. Trading has evolved from its primitive stages to a more advanced and sophisticated form. One of the primitive forms of trade is the trade by barter. The trade by barter preferred to some extent the necessary solution to the problem of exchange; it however, has so many inadequacies attached. The problem of mutual coincidence of wants among others is a major setback to the development of the system.

An emerging generation of information technology (IT) survey, Nigerian are driving the for e-payment system which is becoming increasingly popular because of its convenience. Though, the growth trend is towards the offline digital cash (examples ATM, Master card, and Visa International) where cards (metal or plastic) are used for withdrawals on special machines made for the purpose. The online digital cash transaction system which involves the use of computers with connection lines is however on the increase as well.

This Digital Cash Transaction System is the act of exchanging goods and services is an old and enduring venture. The fact that man cannot satisfy his own needs all by himself has necessitated the need to trade. Trading has evolved from its primitive stages to a more advanced and sophisticated form. One of the primitive forms of trade is the trade by barter. The trade by barter preferred to some extent the necessary solution to the problem of exchange; it however, has so many inadequacies attached. The problem of mutual coincidence of wants among others is a major setback to the development of the system.

An emerging generation of information technology (IT) survey, Nigerian are driving the for e-payment system which is becoming increasingly popular because of its convenience. Though, the growth trend is towards the offline digital cash (examples ATM, Master card, and Visa International) where cards (metal or plastic) are used for withdrawals on special machines made for the purpose. The online digital cash transaction system which involves the use of computers with connection lines is however on the increase as well.

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