Digital security algorithm for GSM incorporated virtual e-banking protocol using watermarking technique

Cashless electronic transaction is getting immense popularity nowadays due to its procedural and bureaucratic simplicity. Almost each and every organization and financial institutes prefers electronic transaction in lieu of pen-paper based banking approach, which depends on high speed internet technology. However, this online monetary transaction is a long cherished blessing for the developed countries. In developing and underdeveloped countries, SMS banking gets rapid popularity over the internet banking via mobile phone, since internet based m-banking suffers from several limitations of internet connectivity, such as inaccessibility, slow speed, intermittent disruptions, and need for costly handset. In this paper, we propose a scheme where even without having an internet connection within the mobile handset, a client can virtually get the advantage of high speed internet banking via a GSM incorporated SMS transaction. Moreover, security over internet is a burning issue irrespective of the type of transaction, especially when the internet based transactions are operated at the user end. In the proposed scheme, we also offer a newly dimensioned security protocol using digital watermarking technique.