Security in mobile online banking in present day situation leads to improvise the security of e-commerce. Securing customer transaction information is the crucial issue. So, strong privacy policies are required to authenticate the customer data to prevent thefts and frauds in online transaction of e-payment. Several authentication model were proposed like single factor authentication, two factor authentication using username, password, OTP (One Time Password) which are not completely secure. This paper describes about Multi factor authentication which is a real-time authentication model using biometrics. This eliminates the access of sensitive information of customer by third party at the time of mobile thefts. Authenticating customer details through finger print will be much more secure due to uniqueness of finger print which acts as a password. The proposed algorithm of finger print extraction is Artificial Neural Network using back propagation model. RSA algorithm with Digital Signature will provide enhanced security for the finger print template of customer during transaction between client and server side. This full fills security issues like Data authentication, Integrity, nonrepudiation. © Research India Publications.