Development of a new mobile payment service for kids

The project proposal aims development of innovative service in thematic area “ICT and Informatics”, providing kids with comfortable, secure, and parentally controlled way for cashless payments. The service will be based on web and mobile application, linked through a bar code, QR code, or other machine-readable 1D or 2D code displayed on the kid's mobile device and read by a device linked to the merchant's warehouse or through other suitable method, identified in the course of research. Linking purchases to the kid's account will allow collection and processing of data that will provide useful insights to parents, school authorities, merchants, and others. Application development falls within the scope of priority “Web, Hybrid and Native Applications, Web Based Applications for Creating and Operating New Services and Products”; the link between both apps – within the scope of “Wireless Sensor Networks and Wireless Communication / Management”, and the collection and processing of data coming from customers – within the scope of “Big Data, Grid and Cloud Technologies”. In order to penetrate the market, the innovation will feature: 1) extreme comfort for children and parents, incl. for parental control of goods, retailers and costs; 2) exclusive transaction security, minimizing the risk of loss or theft of money; 3) rich analytical toolkit in support of parents, merchants, school authorities and etc. For this purpose, the project proposal consists of: 1. Researches, tests, and measurements. 2. Prototyping and testing. The implementation of the project will lead to the 7th technological readiness level (TRL 7 - Prototype demonstrated in operational environment).

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