PRINCIPLES OF

MANAGEMENT
MOBILE WALLET SEGMENT(PAYTM)

SUBMITTED TO: - SUBMITTED BY: -

PROF. PRAGYA GUPTA Manpreet kaur

Samyak
Jain

Govind
Mittal

Divyanshi

Sakshi
Srivastava
 PAYTM

Introduction

Paytm accent as “ATM”. It is an e-commerce payment system developed

in India. Its parent company is one97 communication pvt. Ltd. and it was
founded by Vijay Shekhar Sharma in august 2010 in Noida. In the starting
phase, it started as landline bill payment, prepaid mobile recharge, data
card recharge etc. In January 2014, it launched the wallet (Paytm wallet)
and added as a payment mode by the Indian Railway and uber.

It offers online payment such as pre-post recharge, electricity bill

payments, travel, shopping, movies and available in 11 languages. It is
also used as a payment mode in grocery stores, vegetable shops, parking,
pharmacies with QR code. It provides many offers and cashback is one of
them.

In 2017, it became the first payment app in India with more than
“Hundred” million downloads and It launched the Paytm bank, and an
“inbox”, a ‘messaging tool’ with in chat payments. In 2018, it allows
traders to accept UPI payments directly in to their bank accounts with
zero percent charge.

Its product:

1. Paytm-Mall
2. Payments bank
3. Paytm wallet
4. Smart-Retail
Services provided by Paytm:

1. Online-Shopping
2. Payment-Systems
3. Digital-Wallets
4. Mobile-payment
 NEW NORMS AND POLICIES OF PAYTM

• Bonus policy for Extra ordinary performance, this is basically sales driven.
• Internal policies are just awesome, approval process is too smooth. There is separate
app for Mobile Bill Reimbursement, Travel Reimbursement and other Business
expenses which are too easy to access and work.
• Attrition rate is quite low because of the policies of PayTM.

Organisational Culture of PayTM

• Cabin culture is not there in PayTM except CFO, Even MD Mr. Vijay Shekhar
Sharma used to sit in the similar bay to the team, everyone can access to anyone
without any formal meeting mails/invitation.
• Loyalty, PayTM is loyal to their old employees. Employees who were associated with
One97 group for more than a decade were awarded with ESOPS whose values were
million dollars.
• Even new joiners who performed very well got awarded with the ESOPS.
• Guy having new innovative idea can reach to anyone in the office and after due
approvals marketing budget is not a constraint in case of innovative
• Every week end performing employees awarded with Star of the Week, On Monthly
basis “Hall of Fame” concept is there and during the end of the year best performers
throughout awarded with Employee of the year award approach.
• Bonus policy for extraordinary performance, this is basically sales driven.
• Internal policies are just awesome, approval process is too smooth. There is separate
app for Mobile Bill Reimbursement, Travel Reimbursement and other Business
expenses which are too easy to access and work.
• Appraisal process is too good where after filling the KRA’s, one can have one to one
discussion with the manager regarding performance and Expectation; even one can
get in touch with “HOD” anytime in case of appraisal discussion.
 MAJOR PLAYERS
1. PhonePe –

PhonePe, is an Indian online business installment framework and advanced wallet

organization.

India's quickest developing advanced installments stage and today it is being declared that it
has risen as the single biggest player on the UPI arrange, in front of other installment
applications like Paytm and Tez. PhonePe turning into the quickest Indian computerized
installments organization to accomplish this accomplishment.

2. Amazon Pay-

Amazon Pay is an administration that gives you opportunity to utilize the installment
strategies previously connected with your Amazon record to make installments for products,
administrations, and gifts on outsider sites, in applications, and utilizing Alexa. To make an
installment, you can utilize any of the installment strategies on record in your Amazon
account. Amazon pay utilizes the purchaser base of amazon.com and spotlights on giving
clients the choice to pay with their amazon accounts on outside shipper sites.

3. Google Pay (otherwise called Tez)-

Google pay is a digitalised stage where online installment should be possible. Google Pay
aggregate all that you need at the hour of checkout and protects your installment data in your
Google Account until you're prepared to pay. And furthermore Google Pay makes it simple to
monitor buys, reclaim faithfulness focuses and get customized proposals which will likewise
enable you to set aside time and cash.

4. Paypal-

It is one of the biggest online installment processors on the planet. It is intended to be the
more secure approach to send cash, make an online installment . PayPal is a web based
business organization that encourages installments between gatherings through online
finances moves and it additionally enables clients to build up a record on its foundation

which is associated with a client's Visa or financial records. When ID and verification of
assets have been affirmed, a client may start sending or accepting installments to and from
other PayPal accounts.
 MANAGERIAL FUNCTIONS

 PLANNING

 ORGANISING

 DIRECTING

 STAFFING

 CONTROLLING
 PLANNING

 Arranging is the major work, which includes choosing what could possibly be done,
when it to be done is and how it is to be done and who will do it. “It is a scholarly
procedure which sets out an association's targets and creates different game-plans, by
which the association can accomplish those goals.
 It gets out precisely, how to accomplish a particular objective”
 Paytm installments has extremely solid administrative capacities and installment
framework. “Paytm used to process 95% of the installment in miniaturized scale
seconds”.
 Paytm is a solitary stage having various fragments like banking, money related,
instruction, stimulation, travel, sustenance, bargains, utility, city administrations
which is itself exceptional and sort of shippers related with Paytm is staggering.
 Paytm supporter base is around 250 million which is best in the market. Supported by
financial specialists like Alibaba, Softbank, goodbye, Berkshire, e-straight and having
market assessment in excess of 10 billion USD. Consistently we got the advertising
spending plan advancements and other promoting exercises, on the off chance that
improvement necessity in the showcasing spending plan than with HOD endorsement
same can be executed.
 Fellow having new creative thought can reach to anybody in the workplace and after
due endorsements advertising spending plan isn't a limitation if there should arise an
occurrence of inventive methodology.
 Moment inversion of cash to Paytm wallet in the event of disappointment exchanges
which can be utilized anyplace.
 Paytm is objective arranged as it centres on consumer loyalty and furthermore builds
the piece of the pie of the wallet and caught the market at a higher switch.
 ORGANIZING
 Organizing is an important function of management which involves
identification, classification and grouping of activities to attain
objectives.
 It organizes the business itself and became the largest payment
app.
 It follows the business model which provides e-wallet and personal
bank through which a person can make transaction directly into
their bank accounts with zero percent charge.
 It provides cashback offers to the public through different coupons.
In 2016, paytm has a valuation of four billion dollar.

Patym follow vertical hierarchy. As shown below:

CEO

INDIA
HEAD

VP(DIGITAL VP(E-Commerce)
VP(RETAIL)
HEAD)

SR.DIRECTOR( SR.DIRECTOR(
BD) RETAIL) SR.DIRECTOR(
SR.DIRECTOR WS)
SR.DIRECTOR(
BD)

SR.DIRECTOR(S&M)

DIRECTOR(TECHNICAL)
 DIRECTOR(S&M)
STAFFING

Staffing is a managerial process to which group recruitment is done by proper selection buy
property in and effective selection along with appraisal and personnel development

HOW DOES PAYTM DO IT?

 In paytm staffing is like a streamlined 3-4 round interview process where people are
judged on ability, flexibility etc.
 In case training required by an employee in terms of upgrading the work, same can be
initiated easily with the help of HR.
 Appraisal process is too good where after filling the KRA’s, one can have one to one
discussion with the manager regarding performance and Expectation; even one can
get in touch with “HOD” anytime in case of appraisal discussion.
 Every week end performing employees awarded with Star of the Week, On Monthly
basis “Hall of Fame” concept is there and during the end of the year best performers
throughout awarded with Employee of the Year award
 Even new joiners who performed very well got awarded with the ESOPS.
 Loyalty, PayTM is loyal to their old employees. Employees who were associated
with One97 group for more than a decade were awarded with ESOPS whose values
were million dollars.
 Guy having new innovative idea can reach to anyone in the office and after due
approvals marketing budget is not a constraint in case of innovative approach.

IMPORTANCE
 Is there around 3 to 4 round of interview processes therefore it is understood that
Paytm employees right man at right job by evaluating their skills
 The people who have new innovative idea can reach to anyone which means that
they are making the employees more competent by discovering their ideas and
taking them into action
 By giving them appraisals the employees get more motivation and thus it
improves the efficiency of the company
 The employees can get training in case they need any help this will reduce the
cost of personnel and help them to perform better
 DIRECTING
Directing is the process of initiating an action which has been planned. It is a process
of guiding, supervising, motivating, leading, and influencing personnel to attain the
objectives of the firm.

Paytm plays an important role in directing:

 COMMUNICATION
 In an organization, supervisors transmit information to subordinates.
 Paytm follows an open door policy. Paytm uses a communication policy in which
MD leaves their office door (open) in order to encourage openness and transparency
with the employees of the paytm.
 Every quarter end MD Mr. Vijay Shekhar Sharma used to conduct a town hall
meeting to discuss company growth, perspectives and vision with each and every
employee of Paytm.
 Cabin culture is not there in PayTM except CFO, Even MD Mr. Vijay Shekhar
Sharma used to sit in the similar bay to the team, Everyone can access to anyone
without any formal meeting mails/invitation
 SUPERVISION
 Managers play an important role of supervisors who ensures that the work is done
as per the instructions and the plans given to the employees.
 Every quarter end MD Mr. Vijay Shekhar Sharma used to conduct a town hall
meeting to discuss company growth, perspectives and vision with each and every
employee of Paytm

 MOTIVATION
 Motivation is a process that explains how the needs, drives, urges influence and
control the behavior of mankind
 Employees who were associated with One97 group for more than a decade were
awarded with ESOPS whose values were million dollars.
 Even new joiners who performed very well got awarded with the ESOPS.
 Guy having new innovative idea can reach to anyone in the office and after due
approvals marketing budget is not a constraint in case of innovative approach.
 Every week end performing employees awarded with Star of the Week, On Monthly
basis “Hall of Fame” concept is there and during the end of the year best performers
throughout awarded with Employee of the Year award.
 Performance Link Incentives” there in Business role and in case of over
achievement employee can get lucrative incentives as per the slab.
 Controlling

 Controlling is a process, in which the actual performance of the plan is compared with
the standards to find out the deviation if any
 If there is deviation then corrective measures will be taken in order to achieve the
desired result.
 Helps is achieving the organisational goals and objective
 It should be flexible and able to cope up with the change
 Empowers the employees with the feedback of his/her actual performance and give
them advices regarding how to improve it
 Protecting the workplace

The Control Process

In PayTM, the control process is same as normal one as told by the interviewee.

In control process, at the very first the result of actual performance is compared with
the standards that is estimated in the planning process , if there is any deviation comes
out then the department will look for the reason behind it and take necessary action.
The process is something like given below.

Standard attained –

1) if yes then no action will be taken

2) If no then we will check for variance acceptance --
a) if the variance is acceptable then no action will be taken
b) but if no, then will check for whether the standard is acceptable --
i) If yes then identify the causes of variance.
j) If no then revise the standards and done planning accordingly
 Techniques of Controlling

Feedforward - In this technique, they try to anticipate problems by doing various

research and then take corrective actions, in other words taking corrective actions before
occurring the actual problem.

Concurrent - In this technique, they try to control problem as they happen, it is like
middle in the process, in other words taking corrective action in the process of implementing
the plan.

Feedback - In this technique, they try to take corrective actions after occurring the actual
problem, in other words after comparing the actual performance with the standards and then
taking corrective actions according to that.