Electronic Funds Transfer

This project presents the design and development of a simulated Transaction Verification and Reversal Request Model for Nigerian’s mobile payment systems. It aims to reduce mistaken money transfers and improve user rust by combining two key components: The Verify- HoldConfirm (VHC) Model, which prevents transaction errors through smart verification errors through smart verification and timed holds, and the Mistaken Transfer Protocol (MTP), which enables quick and automated reversal of incorrect payments. The system was implemented as a mobile application using React Native and SQLite, and tested with real users to evaluate usability and performance. Results show that the model effectively reduces transaction errors, improves recovery sped, and increases user confidence in mobile transfers. This research contributes to Nigeria’s financial technology growth by offering a practical, user-friendly, and secure framework for mobile transaction management.