Abstract:

The widespread adoption of mobile banking and internet banking has led to a need for enhanced security measures in universal banking applications to protect customer credentials. Despite the trend towards cashless transactions, cash withdrawals from ATMs remain a necessary component of banking services. In the cash withdrawal process, there are three key stakeholders: the customer, the payment gateway, and the bank. While national and international payment gateways facilitate transactions between customers and banks, they introduce a centralized third-party that increases the risk of data breaches and other security threats. The aim of this research is to propose a solution that eliminates the ATM card, centralized third-party and instead utilizes a decentralized digital ledger through the use of smart contracts to safeguard customer credentials. A survey was conducted to assess the level of adaptability of the new Smart Contract-based, cardless ATM cash withdrawal system

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