How to modify Bank Transfer Payment OR Cash On Delivery Payment methods? Looking to rename one of those and add extra fields

Question

Magento 1.9.4
Porto theme

We urgently need to modify either the 'Bank Transfer Payment' payment method or the 'Cash On Delivery' payment method. What we are after is:

1. label the existing form text field

and

2. add 2 more drop-down type form fields

How can this be done so that it captures the information and adds it to the order?

---

UPDATED on February 18th:

It should look like this:

Without the "What is this?" link (we do not need that).

---

UPDATED on February 19th, 2019:

The solution proposed by mydons seems to work except for:

it does not show the CVV code on the order itself in the Admin panel even-though this option was selected in the Admin panel and filled out by customer:

1. I selected the Request Card Security Code = YES in the Admin panel:

it does show on the front end fine - it even has 'Card Verification Number' field for the CVV code and a link to 'What is this?' (which works BTW - it shows a photo of where to find the CVV code):

But on the order it looks like this (no CVV information):

Answer 1

For your above requirement you can use SavedCC Payment Method.

But it looks like this built-in offline payment method has been removed in version 1.9.4

We can Enable it again by replacing with previous version. But editing core file is not a best practice. So i have created a custom module to override the core xml file.

Step 1: Create file app\etc\modules\Mydons_Savedcc.xml

<?xml version="1.0"?>
 <config>
   <modules>
    <Mydons_Savedcc>
        <active>true</active>
        <codePool>local</codePool>
        <depends>
            <Mage_Payment/>
        </depends>
    </Mydons_Savedcc>
  </modules>
</config>

Step 2: Create file app\code\local\Mydons\Savedcc\etc\config.xml

<?xml version="1.0"?>
<config>
  <modules>
    <Mydons_Savedcc>
        <version>1.0.0</version>
    </Mydons_Savedcc>
  </modules>
<default>
    <payment>
        <ccsave>
            <active>1</active>
            <cctypes>AE,VI,MC,DI</cctypes>
            <model>payment/method_ccsave</model>
            <order_status>pending</order_status>
            <title>Credit Card (Saved)</title>
            <allowspecific>0</allowspecific>
            <group>offline</group>
        </ccsave>
     </payment>
 </default>
 </config>

Step 3: Create file app\code\local\Mydons\Savedcc\etc\system.xml

<?xml version="1.0"?>
<config>
  <sections>
    <payment translate="label" module="payment">
        <label>Payment Methods</label>
        <tab>sales</tab>
        <frontend_type>text</frontend_type>
        <sort_order>400</sort_order>
        <show_in_default>1</show_in_default>
        <show_in_website>1</show_in_website>
        <show_in_store>1</show_in_store>
        <groups>
                <ccsave translate="label">
                <label>Saved CC</label>
                <frontend_type>text</frontend_type>
                <sort_order>27</sort_order>
                <show_in_default>1</show_in_default>
                <show_in_website>1</show_in_website>
                <show_in_store>1</show_in_store>
                <fields>
                    <active translate="label">
                        <label>Enabled</label>
                        <frontend_type>select</frontend_type>
                       <source_model>
                        adminhtml/system_config_source_yesno
                       </source_model>
                        <sort_order>1</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </active>
                    <cctypes translate="label">
                        <label>Credit Card Types</label>
                        <frontend_type>multiselect</frontend_type>
                        <source_model>
                         adminhtml/system_config_source_payment_cctype
                      </source_model>
                        <sort_order>4</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                        <can_be_empty>1</can_be_empty>    
                    </cctypes>
                    <order_status translate="label">
                        <label>New Order Status</label>
                        <frontend_type>select</frontend_type>
                       <source_model>
                          adminhtml/system_config_source_order_status_new
                       </source_model>
                        <sort_order>2</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </order_status>
                    <sort_order translate="label">
                        <label>Sort Order</label>
                        <frontend_type>text</frontend_type>
                        <sort_order>100</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                        <frontend_class>validate-number</frontend_class>
                    </sort_order>
                    <title translate="label">
                        <label>Title</label>
                        <frontend_type>text</frontend_type>
                        <sort_order>1</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>1</show_in_store>
                    </title>
                    <useccv translate="label">
                        <label>Request Card Security Code</label>
                        <frontend_type>select</frontend_type>
                        <source_model>
                           adminhtml/system_config_source_yesno
                        </source_model>
                        <sort_order>5</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </useccv>
                    <centinel translate="label">
                        <label>3D Secure Card Validation</label>
                        <frontend_type>select</frontend_type>
                       <source_model>
                        adminhtml/system_config_source_yesno
                       </source_model>
                        <sort_order>20</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </centinel>
                    <centinel_is_mode_strict translate="label comment">
                        <label>Severe 3D Secure Card Validation</label>
                        <comment>Severe validation removes chargeback </comment>
                        <frontend_type>select</frontend_type>
                        <source_model>
                          adminhtml/system_config_source_yesno
                       </source_model>
                        <sort_order>25</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                        <depends><centinel>1</centinel></depends>
                    </centinel_is_mode_strict>
                    <centinel_api_url translate="label comment">
                        <label>Centinel API URL</label>
                        <comment>A value is required for live mode.</comment>
                        <frontend_type>text</frontend_type>
                        <source_model>
                          adminhtml/system_config_source_yesno
                        </source_model>
                        <sort_order>30</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                        <depends><centinel>1</centinel></depends>
                    </centinel_api_url>
                     <allowspecific translate="label">
                        <label>Payment from Applicable Countries</label>
                        <frontend_type>allowspecific</frontend_type>
                        <sort_order>50</sort_order>                            
                        <source_model>
                         adminhtml/system_config_source_payment_allspecificcountries
                        </source_model>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </allowspecific>
                    <specificcountry translate="label">
                        <label>Payment from Specific Countries</label>
                        <frontend_type>multiselect</frontend_type>
                        <sort_order>51</sort_order>
                        <source_model>
                          adminhtml/system_config_source_country
                        </source_model>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                        <can_be_empty>1</can_be_empty>
                    </specificcountry>
                    <min_order_total translate="label">
                        <label>Minimum Order Total</label>
                        <frontend_type>text</frontend_type>
                        <sort_order>98</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </min_order_total>
                    <max_order_total translate="label">
                        <label>Maximum Order Total</label>
                        <frontend_type>text</frontend_type>
                        <sort_order>99</sort_order>
                        <show_in_default>1</show_in_default>
                        <show_in_website>1</show_in_website>
                        <show_in_store>0</show_in_store>
                    </max_order_total>
                    <model></model>
                </fields>
            </ccsave>
        </groups>
    </payment>
</sections>
</config>

Note:- Important! Saving customer card data is discouraged unless absolutely necessary. Even though the data is encrypted, being in possession of the data increases your security risk. In future try to switch to PCI Compliant payment gateway