Payoff: Secure Offline Payment System using Bluetooth and Block-Chain

Abstract

Electronic payment systems have therefore become very pivotal in the economic life of the present moment. Still, the sad fact is that these systems are still unable to answer such challenges, like low connectivity or limited connectivity, mostly concerned in rural regions and remote localities. Payoff is therefore designed to ensure a secure offline payment solution using a combination of QR code generation, Bluetooth data transfer, and blockchain verification. This hybrid hybrid offchains the process while on chains to ensure secure validation of all offline transactions, thereby improving user experience, especially in unconnected areas. Unlike other traditional payment systems, Payoff manages to ensure transaction details, even when the system is operating in an offline mode, remain secured and tamper-proof. Upon restored connectivity, the transactional data is synchronized with the blockchain in reenforcing security and trust. The essence of this paper is to establish how a solution like Payoff can further contribute to the potential areas of improvement of financial inclusion, transaction failure rate reduction, and subsequently support a more inclusive financial infrastructure for some of the groups or regions in society.