Abstract: The present disclosure relates to the field of payment systems and provides a dummy card based transaction processing system and method. The system is used for facilitating payment transactions between a plurality of users. Each user is associated with a dummy card having a unique dummy card number issued by a financial entity. The system (100) comprises a plurality of user devices (10) and a dummy card server (101). Each user device (10) is associated with a user having a financial account in a financial institution. The financial account is linked to a registered mobile number of the user. The dummy card sewer (101) is configured to facilitate a registered user to link all his debit, credit, and prepaid cards with the dummy card and carry out payment transactions using the unique dummy card number.

Abstract: A system of the present disclosure envisages a computer implemented system (200,300) for a cardless and cashless transaction. The system (200, 300) comprises a database vault (218), a customer interface device (202), a transaction server (210) and a merchant device (302). The customer interface device (202) configured to initiate a first vine by calling on a toll free number of a financial institution (208) over a first channel and providing at least one of a merchant ID and a transaction amount. The transaction server (210) of the financial institution (208) configured to generate a time bound OTP in response to the call and communicate over the first channel the same to the customer interface device (202), wherein the time bound OTP includes encoded information. The merchant device (302) configured to transmit the received time bound OTP to an authorizing interface (216) of the transaction server (210) for authorizing the transaction.

Abstract: A computer-implemented online music platform and a method for implementation thereof are disclosed. The platform includes a first repository, a second repository, a third repository, a rating module, a point management module, a transaction module, a tag module, a selection module and a trend-engine. The first repository stores customer-related information. The second repository stores information of users registered as artists. The third repository stores media artist-related information, ratings, tags and reviews corresponding to media pieces. The rating module rates the media pieces and updates the rating received thereby. The point management module allots points and updates the points to customers. The transaction module enables transaction initiation and process thereof. The tag module enables tagging and customizes tagging of media pieces. The selection module selects media pieces based on the customer's interest and push to customers. The trend-engine analyzes download trends based on genres and tags.

Abstract: A computer implemented system and method for multi-level transaction authorization in a banking support unit. The system includes a data center with a cluster further including: (i) a host for processing transactions, (ii) a security module authenticating and generating a customer personal identification number (PIN), authentication means for authenticating a point-of-sales (POS) terminal, and encryption means for encrypting all information and POS transactions. The system further includes a maker-checker unit further comprising: a token number generator for conducting sensitive transactions on said POS by unique tokens validated for adaptability with said cluster; and an authorization cards array to configured to effectuate multi-level authorization of primary and subsidiary transactions while selectively linking said primary and subsidiary transactions to said token number generator.

Abstract: A system and a method for authenticating financial transactions on PUS terminals have been disclosed. The system 100 authenticates the financial transaction by displaying a user's signature, at the time of a transaction, on the POS terminal. The display of the user's signature on the POS terminal not only acts as a secure access image for users to guarantee a secure payment channel but also proves the authenticity of the remote application servers associated with the financial institutions making the financial transactions at the POS terminals safer and secured.