AL-BARKAAT INSTITUTE

OF MANAGEMENT STUDIES

MINI PROJECT
ON

In Partial fulfillment for the award of the Degree

Master of Business Administration

(1st Semester)
Submitted by

Mohammad Faizan Khalid

(PREERN220021789)
Submitted to

DR. MOHD AMANULLAH

SIGNATURE

DATE:-
 CERTIFICATE FROM GUIDE

This is to certify that DR. MOHAMMAD AMANULLAH has undertaken a case study
project entitled “ PAYTM " under my supervision, submitted for the fulfillment of Master of
Business Administration Degree during session 2022-2024 in the Department of Commerce and
Management, AL-BARKAT INSTITUTE OF MANAGEMENT STUDIES
,Aligarh.

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 ACKNOWLEDGEMENT

A mini project report is never the sole product of the person whose name appears on
the cover. There is always help, guidance and suggestion of many in preparation of
such a report. So it becomes my first duty to express my gratitude towards all of them.
First of all I express my gratefulness to Dr. Mohd. Amanullah, Management
Department, ABIMS, Aligarh for his thoughtfulness, excellent guidance and insight
which was extended to me at every step of the making of the project and cozen
environment which was available at all points.
A token of deep appreciation to my friends who were always by my side at time of
need, other than above there were many friends whom I have failed to mention the
names have also done the needful for me.
Above all. I am beholden to my parents for their loving and caring attitude and
generous support at every step of my life.

MOHAMMAD FAIZAN KHALID

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 DECLARATION

I the undersign hereby declare that the project report entitled “ Paytm ” written and
submitted by me in the fulfillment of the requirements for the award of Degree of Master of
Business Administration, under the guidance of Dr. Mohd Amanullah and the conclusion
drawn there in are based on the material collected by myself. I hereby declare, it contains
no material previously published or written by another person nor material which to a
substantial extent has been accepted for the award of any other degree or diploma of the
university or other institute of higher learning except where due acknowledgement has been
made in the text, also this studyhas not been permitted by me to publish anywhere.

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 TABLE OF CONTENT

CHAPTER TITLE PAGE NO.

CHAPTER 1 INTRODUCTION 8-28

OVERVIEW OF THE INDUSTRY
HOW PAYTM WORKS
BACKGROUND
FUNDING
SERVICES
PAYMENT BANK
BUSINESS MODEL
PAYMENT INTEGRATION
JOURNEY FROM MOBILE TO E-
COMMERCE
POST DEMONATIZATION USE
STRATEGY OF PAYTM
PAYTM COMPAIGN
MARKETING MIX
CURRENT SCENERIO
RESULTS AND AWARDS
PROFILE OF THE
ORGANISATION
PROBLEMS OF THE
ORGANISATION
COMPETITOR‟S INFORMATION
S.W.O.T ANALYSIS
CHAPTER 2 REVIEW OF LITERATURE 29-30

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CHAPTER 3 31-32
OBJECTIVES OF METHODOLOGIES
MANAGERIAL USEFULNESS
OBJECTIVES
SCOPE
RESEARCH METHODOLOGY
O PRIMARY DATA
o SECONDARY DATA
SAMPLE SIZE
METHOD OF SAMPLING

CHAPTER 4 DATA ANALYSIS AND 33-44

INTERPRETATION

CHAPTER 5 FINDINGS OF THE STUDY 45

CHAPTER 6 RECOMMENDATIONS 46

CHAPTER 7 CONCLUSION 47

CHAPTER 8 BIBLIOGRAPHY AND REFERENCE 48

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 EXECUTIVE SUMMARY

The present era is entering into a new pace in payment system by using digital wallets filled
with coupons and offers, In this today’s busiest world people don’t have their time to sit
and relax then how can do their personal works like to recharge their phones to pay
electricity bill, insurance or to shop etc So to make people stress free new application has
been introduced i.e Paytm. People are using this application in their mobile phones in higher
percentage and made help them to do their works easier.

The present research is focusing on the impact of these new digital payment systems on
customers and problems encountered if any.

Paytm is India's largest mobile payments and e-commerce platform. It started with online
mobile recharge and bill payments and has an online marketplace today .In a short span of
time we have scaled to over 300 million registered users. Paytm is the consumer brand of
India's leading mobile internet company One97 Communications. One97 investors
Include Ant Financial (AliPay), SAIF Partners,Mediatek,Sapphire Venture and Silicon
Valley Bank. We strive to maintain an open culture where everyone is a hands-on
contributor and feels comfortable sharing ideas and opinions. Our team spends hours
designing each new feature and obsesses about the smallest of details.

India is amongst one of the most cash-intensive economies of the world with cash to GDP
ratio of 12%, this figure is around three to four times than the comparable economies for
similar economies like Brazil and South Africa. The ratio of the amount of money in
circulation in cash compared to that of what is in the banks in about 51% in India, whereas
the ratio is 8 to 9 percent for most of the countries.

The company now has scaled to more than 1 billion monthly sessions by users: it has
accomplished these feats in a tremendously short time span. Paytm now offers multiple
products and services encompassing primary mobile recharges, online bookings (for
hotels and movies) and even an online market place. Thus, over a period of time, it has
become both a payment platform as well as an online marketplace, thereby aiming to
provide a holistic experience to its customers.

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 CHAPTER 1

INTRODUCTION

1.1 OVERVIEW OF THE INDUSTRY

Smartphone has become essential part of daily life. Due to technology, Digital wallets are
quickly becoming mainstream mode of online payment and mobile users can nowadays use
their Smartphone to make money transaction or payment by using applications
installed in the phone. One such application is Paytm. The present study tries to study the
usage of Paytm by Smartphone users. Apart from this, the study also attempt to find out the
various problems faced by Paytm users.

A digital wallet refers to an electronic device that allows an individual to make electronic
transactions. It is also referred by other names like mobile money, mobile money
transfer, and mobile payment generally represents a payment services operated under
financial regulation and are performed from or via a mobile device. This can include
purchasing items on-line with a computer or using a Smartphone to purchase something at
a store. An individual’s bank account can also be linked to the digital wallet. In other words,
mobile money transfer refers to a method of monetary exchange.

Paytm, as its abbreviation states, Pay Through Mobile was launched in 2010 by One97
communications as a prepaid mobile and DTH recharge company. Gradually, it made its
way into the e-commerce market in the year 2014 and further added bus ticketing to its
application in 2015. Paytm now offers multiple products ranging from primary mobile
recharges to buying products enabling customers to get everything at one place. Thus,
over a period of time, it has become both a payment platform as well as the marketplace.

This strategy not only enables Paytm to serve multiple needs of the customers, giving
them a good experience by saving their time and efforts but is also expected to be helpful
in selling and thus increasing the overall profitability of the organization. It has
even obtained the license from Reserve Bank of India to run a Payments Bank. As a result,
Paytm is amongst the top 7 e-commerce companies in India to have billion-dollar
valuation and transformed the business model of Paytm from a recharge web site to
a
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Payment cum e- commerce marketplace. It has 80 million Paytm Wallet active users that
carry out over 300 million transactions every month. On account of higher valuation, Paytm
had resources to stitch Rs.203 Crores worth of deal with Board of Control for Cricket in
India for 84 matches. Considering the quantum of following that cricket has in India,
this association with BCCI for primary sponsorship rights is sure to get a lot of visibility to
Paytm brand and a national brand with significantly high brand recall amongst all
sections of society.

1.2 PAYTM BUSINESS MODEL AND HOW DOES PAYTM WORK

Following is the total coverage of the topic on Paytm Business Model and how
does Paytm work, we will include the direct and indirect revenue lines used by
One97 (its parent company).While it is important to note while reading this is
that Paytm is not a traditional E-Commerce cum Payment Gateway player, it is a
full edged Payments Bank Company (they are one of the receivers of the Payments
Bank License issued by RBI).The various revenue lines that they have can be broadly
categories:

1. Payment Solutions and Recharge Services

2. Payment Wallet
3. Seller Services
4. Payments Bank
5. Digital Gold
6. Paytm Mall
7. Bill Payments
8. Health Service

1.3 BACKGROUND
Paytm was founded by One97 Communications in 2010 as a prepaid mobile recharge
website. Paytm is an acronym for "Pay through Mobile”. Apart from being accessed
from the browser, its app is available on the Android, Windows and IOS operating
systems. In 2014, the company launched Paytm Wallet, which became India's largest
mobile payment service platform with over 85 million wallets & 100 million android
based app downloads as of dec 2018. The usage of the service was largely due to
the demonetization of the 500 and 1000 rupee currency notes.

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1.4 FUNDING

In March 2015, Indian industrialist Ratan Tata made personal investment in the firm. The
same month, the company received a $575 million investment from Alibaba Group of
China, after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake
in One97 as part of a strategic agreement. Paytm borrowed 300cr from ICICI Bank in
March 2016 as working capital. Paytm has raised a total of ₹ 2.2B in funding over 4
rounds. Their latest funding was raised on Feb 4, 2017 from a Undisclosed round. Paytm
Mall has received the final tranche of its USD 445 million (about Rs 3,000 crore) funding
from SoftBank and Alibaba, a move that will give the online shopping venture of Paytm
Paytm, has received $300 million (Rs 21.79 billion) in fresh funding from Berkshire
Hathaway Inc.The deal is the Warren Buffett-led firm’s first investment in the country.

According to regulatory filings sourced from Paper.vc, One97 Communications issued 1.7
million shares to BH International Holdings on September 27, 2018.

1.5 SERVICES

The application enables users to book air tickets and taxis, mobile recharge, and payment
of DTH, exchange currency, order food online, health service, financial service, broadband
and electricity bills among others. Users can also pay for fuel at Indian Oil Petrol pumps
and buy movie tickets at PVR Cinemas through the wallet.

1.6 PAYMENTS BANK

In 2015 Paytm received a license from Reserve Bank of India for starting India's
first payments bank. The bank intends to use Paytm’s existing user base for offering
new services, including debit cards, savings accounts, online banking and transfers, to
enable a cashless economy. The payments bank would be a separate entity in which the
founder Vijay Shekhar Sharma will hold 51%, One97 Communications will hold 39% and
10% will be held by a subsidiary of One97 company.

1.7 BUSINESS MODEL OF PAYTM

1. Listing Fee and Convenience Fee (Sellers are charged listing fee for selling
on Paytm and on boarding fee for doorstep service of explaining everything related
to selling online.
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2. OTA Bookings: Paytm recently ventured into Online Travel Agency Model
(OTA) where it is providing air, bus etc ticketing and hotel booking services (the
model here is again commissions similar to e-commerce model highlighted above)
3. Payments Integration: You can now use your Paytm wallet to pay all sorts
of utility bills including cable, internet, mobile, gas, electricity etc
4. Mobile Wallet: Integrating its wallet across major e-commerce and e-payment
enabled online sellers (replaces a traditional payment gateway with the exact
same business model but lower fee and Transaction Discounting Rates (TDR).

1
1
1.8 HOW DOES PAYTM WORK WITH PAYMENT
INTEGRATION
This is pretty similar to the way a Mobile Recharge guy along the corner of the street of
your house works. He makes sure he is present there when you need a recharge, and gets
2-4% commission on the recharges that he makes to your number. Same is the case here
Paytm provides an alternative to the street corner based guy who does your recharges and
since the bargaining power of Paytm is higher as compared to that poor chap
(because of large number of transactions) Paytm ends up getting higher commission from
these vendors.

Paytm does recharges and bill payments for DTH, Internet, Prepaid Phones, Postpaid
Phones, Insurance Premium Payments, Loan EMI Payments, Delhi Jal Board Payments,
Delhi Metro Payments and many such more. While Government entities may not
entertain commissions to Paytm they surely hook the customer to Paytm’s wallet
for other payments including this one because Paytm gives Cash Back on all of these in
the form of Wallet Cash which can only be redeemed against any payment made via
its network and can’t be withdrawn into one’s bank account.

It is important to note here that Paytm negotiates hard on the Settlement time to
these vendors i.e. there is a time lag in which you pay payment Paytm pays the
vendor. Assume your due date for payment of light bill is 1st of the month. You pay it by
that date, Paytm will release the same money to the vendor by say 8th of the month (Your
electricity will not be disconnected because Paytm has given confirmation to the vendor that
the payment has been settled) and thus Paytm in turn will make money out of the interest
that it earns out of the lying deposits in the wallet.

1.9 PAYTM, JOURNEY FROM MOBILE TO E- COMMERCE

Founded in 2010, Paytm started as a prepaid mobile recharge website. Currently its
business is not only limited to recharge but has expanded as online payment platform
including mobile recharges, utility bill payment, wallet payment and wallet to wallet and
wallet to bank transfers for many leading internet based companies like Book my show,
Make my trip, Food Panda, IRCTC and many others. It was founded under the
implemented idea of Vijay Shekhar Sharma and has got the first mover advantage in the
mobile industry. The company has been backed up by Alibaba group and Ratan Tata. The
firm raised $575 million from Alibaba group for a share of 25% in the company.

12
Their website and mobile app has been transformed into a fully-fledged e-commerce
marketplace offering categories from electronics, mobile phones, sports & health, home
& kitchen, books, baby & toys and many more categories.

The app downloaded on various platforms has touched the mark of 100 million. The
additional features added like Bargain power which is not currently available at any other
market place Paytm in February 2014 launched its mobile based marketplace and now
recently has launched a seller dedicated app with zero commission models. Besides,
Paytm has also contracted with IRCTC to make Paytm wallet as one of the online
payment option while booking a ticket. IRCTC processes around 180 million transactions
every year; and Paytm has a strong base of 95 million wallet active users who can
use their wallet instead of using plastic card details. These wallet holders have an access to
shop over the app and pay with Paytm wallet across 21,000 merchants. Payments
services and e-commerce firm Paytm on Monday said it is booking 100,000 movie tickets
per day, within four months of launching its movie-ticketing segment.
Paytm has recently joined in the hyper-local venture by starting grocery delivery in
India. The hyper local market has raised more than Payments services and e-commerce
firm.. Paytm has just shoot up its business as it has just raised a funding. Paytm will utilize
the fund in recruiting fresh talent, acquisitions, marketing and brand building.

Gurgaon-based competitor of Paytm, Gofers grabbed an amount of $45 million while

Pepper Tap snatched $12 million from the investors. The company is currently dealing in
mobile and DTH recharge, bill payments, bus tickets, data card recharges, e-commerce
marketplace, payment gateway, paytm mall, Paytm deals and coupons.

1.10 POST DEMONETIZATION PAYTM USE:-

1. Paytm has registered over 170 million new users since Nov. 08.
2. As on March, Paytm now has a total user base of 300 million.
3. Paytm has seen 35 million transactions for mobile and DTH recharges on
its platform post the government's move Paytm has hit a record 5-million
transactions a day, processing Rs 24,000 crore worth of payments, less than a week

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 into the Indian government's decision to demonetize Paytm saw a 200% increase in
mobile downloads and a 250% increase in the overall transactions.
4. In terms of value about $6.2 billion of worth transaction have been done till January.

1.11 STRATEGY OF PAYTM

The overall up-to-down 360 degree campaign made sure that all their offers reach out to its
targeted audience on social media too. Sharing their advertisement on Facebook and
Twitter, and even sponsored posts on Instagram and at time even Snapchat.

However, the most effective of all strategies was the #PaytmKaro. It was being added to
almost every conversation that is being driven on Facebook and Twitter. All the
feedbacks, complaints (if any), comments etc started excessive use of this #PaytmKaro
.It’s observed that the advertisement rolls out some life situations such as money transfer,
online shopping, mobile recharge, paying at petrol pump etc, which is made easy
by Paytm services. This TV commercial that rides the emotional route to connect with
Indian mobile customers, has gained over 50K views on YouTube.

#PaytmKaro had no digital campaign budget initially. TV was the primary medium for the
campaign and that is understood with the campaign.

With an objective of making Paytm a household name when it comes to mobile money
transfer, it was really surprising that why the brand had ignored the social media savvy
audience. But lately they realized its importance and grabbed the opportunity.

The brand planned to run a social media campaign and even succeeded in it. Also at a later
stage it can obviously drive meaningful conversations with fans around
#PaytmKaro.

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# PAYTM KARO

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1.12 OTHER PAYTM CAMPAIGNS
#NO MORE HUNGER PAINS ON THE TRAIN #PAYTMKARO

Paytm tied up with IRCTC’s e-catering. It now allows you to book your meals on the go!
Around 1516 trains without pantry cars are now enabled with the facility to have meals on
the go booked by you via Paytm. This is a major relief to those who travel via train to often.
Paytm is keen to bring the experience to all users across platforms, in every walk of life.
LET‟S GO CASHLESS! HAPPY EATING & #PAYTMKARO

1.13 STRATEGIES ADOPTED BY PAYTM TO INCREASE ITS

REVENUE
Basically, Paytm uses two strategies behind their heavy discounts/cash backs/sales.

Killing the competition thereby increasing their market –Paytm has chosen the
formula of giving and take. It has started offering huge discounts to its customers
for any type of transactions they make. They provide certain codes for cash back
which are only redeemable on either their website or android/ios application. It’s
somewhat similar to what Ola cab did by giving discounts on their cab rides. The
whole idea is to offer huge discounts and indirectly force the competitors to go out
of business. Once they set their foot in the market and acquire major share they will
start selling at market price or even higher price.
Make people use their wallet service – as digitalization is taking over people are
more inclined towards E-wallet, net banking and credit cards and debit card
transactions. Considering the e-commerce platform as an effective tool to fill the
online wallets, the discounts and cash backs offered by Paytm are directly
credited to the customer’s wallet as Paytm cash, which is not eligible to be
withdrawn in their respective bank accounts. There’s a little trick behind this
whole concept. They give huge discounts and cash backs and credit the money in
their Paytm wallets only so that the customer visits again and again and use their
wallet, thereby increasing their shares. This is indeed a long term strategy. More and
more people are inclined towards e-payment these days and Paytm succeeds in this
game play they can be a tough competition in micro payments and earning
a smaller percentage of processing fees for every transaction on the wallet.

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 1.14 MARKETING MIX OF PAYTM

1.14.1 PRODUCTS IN THE MARKETING MIX:

Paytm is actually a payment system via the electronic-commerce medium. It started its
operations as a B2B organization but realized the importance of customer participation
and opened B2C option also. Paytm offered mobile recharging and later added bill
payment like payment of DTH, electricity and broadband along with e-commerce to its
portfolio.

In the year 2015, it ventured towards new horizons and added travel booking for busses and
in the year 2016 for movies in partnership with Cinepolis. It acts as a portal to shop for
multiple products from apparel to electronic items. Paytm has increased its operations to
include services like booking air tickets, taxis and payment at petrol pumps. Launched in
February 2017, Paytm Mall is a consumer shopping marketplace that is modelled after China's
largest business-to-consumer (B2C) retail platform, TMall. Paytm in association with MMTC
PAMP has recently launched Digital Gold, a product where you can buy and store 24K 999.9
pure gold for as little as Re 1. You can get this gold delivered at your home in the form of
coins or sell it back online instantly.

The government is propagating cashless economy system and this endeavour will be
a step in right direction. Payments bank will be opened and it will attain a separate entity
with the founder of Paytm Vijay Shekhar Sharma, Paytm has gained approval from
Bharat Bill Payment System and users can easily pay bills through this medium from now
onwards.

1.14.2 PLACE IN THE MARKETING MIX:

Paytm has set up its headquarters base at Noida in Uttar Pradesh. It is actually a platform
that can be used easily by anybody and everybody at his/her convenience. Paytm
launched a toll-free number which is first of its kind and was at that point of time unheard
of. 1800-1800-1234 was a simple number that was used for recharges. Paytm was
launched as a recharge website via a mobile application. It can be accessed via browser and
its app is also on iOS, Windows and Android operating systems. Paytm Wallet was launched
in the year 2014 and it became largest service portal for mobile payment in India.
Now paytm has, 100 million Android based apps were downloaded.

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1.14.3 PRICE IN THE MARKETING MIX:

Paytm is a medium which helps to pay bills in an easy manner without going to
that related office and standing in the queue for payments. It has become one of the
most successful ventures related to online payment. In the year 2015 Reserve Bankof India
granted it a license to start first payment bank in India. The intention of the bank is to use
existing user-base of Paytm to offer diversified new services like online transfer, savings
account, online banking and debit cards. Paytm has become easy-to-use and innovative
interface and this has been possible because of its features as well as its pricing policy. The
company was the first to start a trend of cash back and instead of discounts they
offered money back in wallets.

1.14.4 PROMOTIONS IN THE MARKETING MIX:

Paytm has adopted an aggressive and unique marketing policy to create
better brand visibility. They initiated net banking and launched several schemes and
offers as part of their promotions. Advertisement campaigns were shown via multiple
channels on radio, television, newspapers, magazines and billboards. It also relied heavily
on mouth publicity. Demonetization of currency notes worked heavily in its favor and a
huge publicity and an increase in active users.

1.15 CURRENT SCENARIO OF PAYTM GROWTH

Paytm is growing faster and emerging as a strong E-wallet company. Currently, they
have over 300 million registered users. Their website and mobile app have now
transformed into a fully-functional e-commerce marketplace offering
shopping and buying facilities for categories like electronics, mobile phones,
sports & health, home & kitchen, books, baby & toys and much more such
categories.
The android and ios application is being downloaded on various devices and has
surprisingly touched the mark of 4 million active downloads. The thing the
differentiates Paytm other e-commerce companies is its additional features like
Bargain power which is currently not available at any other marketplace and
Paytm has made the selling and buying experience a lot more interesting.

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 Paytm had recently collaborated with IRCTC to make Paytm wallet payments as one of
the online payment options while booking a train ticket. According to the annual reports
of IRCTC, they process around 180 million transactions every year; and Paytm is having
a strong base of 90 million wallet users. Now this is an advantage over the use of cards
which always comes with a threat of being hacked. Hence people can now use this wallet
instead of using plastic card details.

1.16 RESULTS ACHIEVED AND AWARDS

Paytm has credited many awards and has achieved many targets in just 6 years.

 Paytm wins Diamond SABRE Award in Company of the Year at SABRE Awards 2017

 Paytm wins Diamond SABRE Award in Superior Achievement in Reputation Management at

SABRE Awards 2017

 Paytm wins Gold SABRE Award in Financial Professional Services at SABRE Awards 2017

 Vijay Shekhar Sharma recognized among the 50 Most Influential Young Indians by GQ

 Vijay Shekhar Sharma wins at Entrepreneur India Awards 2017

 2016
 Paytm wins ET Brand Equity Most Trusted Brand of the Year 2016.

 Vijay Shekhar Sharma wins IMPACT Person of the Year Award 2016.

 Paytm receives ET Telecom Game Changer of the Year Award for 2015.

 NDTV Indian of the Year Award for Paytm CEO Vijay Shekhar Sharma.

 2015
 Paytm won NDTV Cisco Digitizing India Awards for Disruptive Digital Innovator.

 Vijay Shekhar Sharma featured in Economic Times "India's Hottest Business Leader under
40"

 2014
 Paytm App gets featured in Apple App Store’s Best of 2014 in the Mobile/DTH Recharge &
Shopping Category

 Paytm is the winner of Indian Express IT Award in Mobility Solutions 2014

 Paytm App is a finalist at the international Meffys in Consumer Trust category

 Best Mobile Money product at the 4th India Digital Award 2013

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 Knowledge Faber Best Mobile Wallet Program Award

 Gold Winner at the MMA Smarties for mCommerce

2012
 Most Innovative Startup of the Year at the Entrepreneur India event by Franchise India

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1.17 PROFILE OF THE ORGANIZATION

Paytm

Type of business Private

Type of site E-commerce

Founded 2010

Headquarters Noida, Uttar Pradesh, India

Founder(s) Vijay Shekhar Sharma

Key people Vijay Shekhar Sharma (CEO)

Services Online shopping

Payment system

Parent One97

Website paytm.com

Alexa rank 351 (February 2017)

Current status Online

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1.18 PROBLEMS TO PAYTM

1.18.1 PAYTM FACES MULTIPLE CHALLENGES AT A CRUCIAL

JUNCTURE OF ITS JOURNEY
Paytm, the mobile wallet and e-commerce start-up, became a household name in the two
months. So much so that it has become a generic term associated with any e-wallet and has
become an all-pervasive brand with high recall value. Demonetization gave mobile wallet
firms like Paytm helping them gain users at exponential rates every day.

Since the demonetization drive was announced by Prime Minister Narendra Modi on
November 8, Paytm has added new users at unforeseen rates and its trading volume grew
up. But the brand has been facing some critical challenges in terms of transaction. It is by
overcoming these challenges that the digital wallet sector’s market leader, Paytm,
can stabilize its brand image and grow at a steady rate.

1.18.2 FOCUS ON ADVERTISING AT THE COST OF

INFRASTRUCTURE

The leading e-wallet firm has been battling continued transaction problems. Customers
trying to load money onto their Paytm wallets have had money deducted from their bank
accounts but the credit had not reflected in their Paytm wallets. Users also complained that
efforts to transfer money back to their bank accounts were also failing.

The technological backend of Paytm seems to have under high pressure. “When
demonetization was announced, Paytm could not have anticipated the 1000% jump
in users. What a technology company like Paytm should have done at that point was focus
on strengthening its backend and creating a platform, instead of focusing on advertising,”
said N Chandramouli.

The primary concern during this time has been the alleged non-responsiveness of the
Paytm customer care. Paytm users have been trying to reach out to Paytm via Twitter to get
their transaction related issues sorted. In return, Paytm has been trying to draw the attention
of its users to the various reasons why a transaction might be failing and sharing

22
Information on how to contact Paytm’s customer care on Twitter and on the Paytm blog.
Paytm’s Twitter profile has been bombarded by messages from distressed uses that are
having problems making transactions via Paytm.

Paytm has been struggling to cater to its 170 million users, 20 million of whom
join between November 10 and December 20.

In addition, some days ago the Paytm app went missing from the iOS App Store because a
recent update of the app was buggy. Paytm sincerely regret the inconvenience caused by
this outage,” Paytm said on their blog.

1.18.3 SUSPECTED INSIDER FRAUD

Adding to this mix of unfortunate incidents, Paytm’s employees are now being
investigated by CBI sleuths for defrauding the company itself. It has been reported that
based on complaints from Paytm, two cases of fraud amounting to nearly Rs 10 lakh have
been registered against 22 private individuals. The police suspect that insiders facilitated
the fraud.

1.18.4 CONTROVERSIAL ADVERTISING STRATEGY

Many newspapers across India were splashed with a Paytm advertisement on the morning
of November 9th congratulating Prime Minister Modi for “taking the boldest decision in the
financial history of Independent India.” Opposition political parties and politicians
criticized Paytm for this advertisement from Delhi Chief Minister Arvind Kejriwal and West
Bengal Chief Minister Mamata Banerjee, to RJD chief Lalu Prasad Yadav, nobody spared
Paytm.

They dragged Paytm into a political war. “In the case of the newspaper advertisement and
the comments made by the Opposition the brand tends to get colored - not a secular
color but a party color. It is possible that some would stay away from the app because of
this party connection but that may not be too large a section of the public,” said Bijoor.

Another advertisement from Paytm also faced criticism and this time Patym was
pressured into withdrawing the advertisement and changing the advertisement. The digital
advertisement „Drama Bandh Karo…Paytm Karo‟ was seen to be mocking the

23
Situation and wasn’t appreciated by viewers. The brand modified the creative by replacing
The „Dram bandh karo‟ tagline with „Chinta Mat Karo, Paytm Karo‟.

1.18.5 TRADEMARK INFRINGEMENT CASE FILED BY PAYPAL

On December 18th another kind of misfortune befell Paytm. US-based e-wallet company,
PayPal filed a trademark infringement case against Paytm. In the complaint, PayPal has said
that Paytm has no reason to adopt identical colors and color scheme other than to take
advantage of the reputation built by PayPal. The complaint from PayPal came on the last
day of the statutory four-month period that follows advertising a logo. Paytm
advertised its logo on July 18.

This issue hardly impacts the day to day use of Paytm as a mobile wallet app. But it is a
very real issue, said Chandramouli. “The colors are indeed the same! This surely is not a
case of a copy-cat brand. What possibly happened was that whoever designed the logo did
not put in much thought.

1.19 COMPETITORS OF PAYTM

Paytm has targeted each and every person irrespective of age, income, gender or status as
its target customer because it wants to penetrate in every corner of India. Some of
its major competitors are as follows-

JioMoney
Airtel Money
Mobikwik
Freecharge

Reliance Jio’s entry in the Telecom sector is now all set to take the e-wallet segment by
storm. The company has joined hands with Uber Technologies. Earlier a person had no
option but to book a ride in Uber only through Paytm, but will now have option to book
through Jio Money, the app which was launched in December 2016. The company is also
planning to provide a feature to book a Uber in the app itself, a feature which Paytm does
not have.

24
Free Charge has focused on fast and easy transactions and claims you can complete
a recharge or a money transfer from the app in under 10 seconds. It offers lots of deals on
recharges, and it has also partnered with fast food outlets such as McDonald's and Cafe
Coffee Day to allow you to pay using the mobile wallet.

MobiKwik is playing catch-up to Paytm. The wallet has partnerships everywhere when
you're looking at local deliveries. The big boys such as Swiggy and Zomato order have
partnered widely, but there are a growing number of restaurants who avoid aggregators, and
there, MobiKwik seems to be much more prominent. It has also tied up with several offline
chains is available in several retail locations as well through the point of sale
machines. It also offers cash backs and deals for offline shopping - go to a partner
restaurant and pay via MobiKwik to get discounts in the form of cash backs.

Bharti Airtel has launched Airtel Money, a mobile wallet service, across India. The Airtel
Money service, is now available across 300 key cities in India, and will allows its users to
load cash on their mobile devices and spend it to pay utility bills and recharges, shop at
7,000+ merchant outlets, transact online etc

Apart from serving as an easy alternative to cash/card payment options, Airtel Money
also offers customers the convenience of instant money transfer from an Airtel Money
wallet to another Airtel Money wallet and bank accounts. With this, customers can now use
Airtel Money to make payments and transfer money across the country.

FreeCharge is an e-commerce website headquartered in Mumbai, Maharashtra. It

provides online facility to recharge any prepaid mobile phone, postpaid
Mobile, DTH & Data Cards in India. On 8 April 2015, Snapdeal acquired Freecharge in
what is being referred to as the second biggest takeover in the Indian e-commerce sector
so far, after the buy out of Ibibo by rival MakeMyTrip.

25
26
1.20 S.W.O.T ANALYSIS OF PAYTM

1.20.1 STRENGTH:-

The biggest strength of Paytm it has ties ups with various national banks and with RBI for
Debit and credit cards. Ever since it started online mobile recharges Paytm pamphlets and
acceptance boards and notices can be witnessed even on road side tea stall and pan shops.

Paytm works with all mobile operators in all states in India for prepaid mobile DTH & data
card recharges and prepaid mobile land line & data card bill payment. It partners
with the multiple national banks for credit card, debit card and net banking payments.
Paytm also works with various billers for utility bill payments.

Keeping in mind the mobile world paytm mobile application is compatible with all
possible platforms including android, IOS & windows.

1.20.2 WEAKNESS:-

Paytm has grown into something that offers a lot of functionalities in areas other than its
chief purpose i.e., recharge. This makes the app bulky and takes up lot of space.
Processing takes time and finally fails to recharge. No replies on mails from customers.
Huge traffic during festive seasons when new offers are introduced. Since Paytm is a
mobile commerce, obviously it requires smart phone users.

1.20.3 OPPORTUNITIES:-

The biggest opportunity that is witnessed in the present day for Paytm or any other online
business is the act of Demonetization announced by PM Mr. Narendar Modi and
replacement of paper currency with plastic currency leading India to 100% digital
marketing. And encashing upon this since the announcement of demonetization reports are
Paytm has made a business of 1.28 crore in a single day and have added 40,000
further users to its customers list.

27
1.20.4 THREATS:-

The major threat that comes to the Paytm business is from other online portals i.e.
Snapdeal, Amazon, Flipkart and many more such online portals which provide
thousands of products under different categories with varied suppliers.

The money transfer from bank accounts to Paytm account has failed multiple times and the
refunds of the same are taking ages. Many frustrated Paytm users took the same to Twitter
and even raised the question as who should we hold accountable for the losses.

1.21 VISION AND MISSION OF THE ORGANISATION

“A company is worth the company it keeps.” – Vijay Shekhar Sharma

VISION - We are on the road to making an enormous impact to the economic foundation
of the country. We want millions to accompany us and benefit from this journey. We
want to make a positive difference by empowering the lives that we touch.

We intend to reach every inch of the country and en-route, empower small enterprises. We
commit to operate in an economically, socially and environmentally responsible
manner. We hope to use our influence to financial & other support for disaster victims &
the underprivileged. We wish to share our technical knowledge with the deserving to
empower them.

MISSION -Paytm has tried its level best to popularize itself through various social/digital
media platforms like Facebook, Twitter, and Instagram etc. It has used
the”#Paytmkaro”. They made sure that more and more people get engaged in using
their E-wallets. #PaytmKaro became the new that started trending on Twitter.

Not only this, on Facebook they started to post videos of people who have had awesome
experience of using Paytm. Day by day new commercials were realized. All of these
commercials had very catchy lines and tunes.

28
 CHAPTER – 2
LITERATURE REVIEW

Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi studied in

their paper “Digital Wallet: Requirements and Challenges” (2006) that the
requirements and challenges of deploying a nationwide digital wallet solution in
Singapore. Further they discussed why Singapore is ready for a digital wallet and
identify the key challenges in building and deploying a digital wallet. Then
discussed one of the key challenges, supporting peer-to-peercash transactions
between individuals using a digital wallet, in more detail and end the paper with
their proposed solution.

Prof. Trilok Nath Shukla in his paper “Mobile Wallet: Present and the Future”
(June 2016) has discussed about mobile wallet, working, types and its advantages
and disadvantages. His analysis included perception of consumers and retailers
about mobile wallets. He concluded that mobile wallets will be used to engage with
the customer by the marketers and digital businesses. Irrespective of the market
status of these mobile wallets, marketers should take advantage of the emerging
opportunities.

Dr. Poonam Painuly, Shalu Rathi in their paper “Mobile Wallet:

An upcoming mode of business transactions” (May 2016) has explained
about mobile wallet, types and trends. Then discussed about Role of mobile wallet
in various sectors like Banks, Retail and Hospitality. The paper explains the
importance of mobile wallet for Banks, Customers and Companies. In future
scope it talks of mobile wallets becoming a latest marketing channel in near
future. And contribute highly in a seamless shopping experience for the customers
that increase their tendency for frequent and more repurchases with delightful
experiences. To conclude they speak the importance and growth of mobile money
in business, social and economic prospective. The presence of mobile wallet

29
spreading from urban to rural areas on a large scale. Hence, wallet money sees a high
bright future in near time.

Dr. Karminder Ghuman and CS Shruti Srivastava in their paper

“Recharging: the Right Way? A case study on e-payment giants: Free charge
&Paytm “has asked readers a strategic question that in the emerging internet
based service provision industry, whether it is a better strategy to develop a
unique positioning on the basis of single key service or it’s better for an
organization to offer multiple services, thereby reducing risk, increasing and thus
increasing its valuation And thus they have compared Paytm and Free charge that
are employing opposite strategies to find out which one is better.

ThaeMin Lee in his paper “The impact of perceptions of interactivity on

customer trust and transaction intentions in mobile commerce” (2005)
investigated the impact of perceptions of interactivity on consumer trust and
transactions in mobile commerce and concluded that trust does in fact play a
significant role in determining consumer transaction intentions. Hsin-Hui Lin and Yi-
Shun Wang in their paper “An examination of the determinants of customer loyalty
in mobile commerce contexts” (2005) examined the factors that contributed to
customer loyalty in mobile commerce; perceived value and trust were found to be
directly related to customer satisfaction and customer loyalty; customer satisfaction
was also suggested to positively affect customer loyalty; and habit was proposed to
determine customer loyalty. They also found that customer loyalty was directly
affected by perceived value, trust, habit, and customer satisfaction. Customer loyalty
was evaluated to be a strong determining factor in acceptance of mobile commerce.

Key Pousttchi and Dietmar G. Wiedemann in their paper “What Influences

Consumers‟ Intention to Use Mobile Payments?”(2008) studied the adoption of
mobile payments and evaluated what key influences affected consumers to use
mobile payments and found that subjective security was not a primary driver of
mobile payment acceptance. They found that perceive confidentiality of payment
details and perceived trustworthiness were strongly correlated.

30
 CHAPTER - 3
OBJECTIVES AND METHODOLOGY
The aim of this research is to analyze the usage of Paytm by users. In order to reach the aim
a structured questionnaire was sent to 100 smart phone users who use Paytm for
online payment. The respondents were categorized on the basis of, age, frequency
of usage, purpose of usage and average monthly spending on Paytm. This research
used descriptive method in order to get the statistic result from respondents.

3.1 MANAGERIAL USEFULNESS OF THE STUDY

The research was conducted to analyze the usage of Paytm by users and to study
the satisfaction level of Paytm users based on different parameters.
Undertaking research can help a company avoid future failure. Carrying out research can
also help a business determine whether now is the right time to expand into another town
or whether it needs to apply for a new loan. It may also help a small business decide if a
process should be altered or if more needs to be done to meet the requirements of the
customer base. Research aids the business enterprise to enhance the productivity, reduce
the cost, save time and maintain expertise of their core competencies through research
discovery of latest technology which contributes to development of innovation
management system for future growth.

3.2 OBJECTIVES OF STUDY

1. To understand the basic features of digital payment system especially with Paytm
money.
2. To know whether the people are aware of paytm money and to check out
the growth of Paytm Money.
3. To study whether the Paytm has replaced direct net banking.
4. To understand the security system prevailing in Paytm and Pay u money.
5. To focus on any problems encountered by customers while making payment.
6. To capture incremental sales by offering more payment options and cash
back offers in Paytm.

31
3.3 SCOPE OF THE STUDY

The Scope of the Research study would include the geographic & Demographic region of
Chandigarh. By this study satisfaction as well as attitude towards the Paytm has
been found out, which can be used in strategy formulation in Sector 10, Chandigarh.
1. Customer satisfaction, Lacking & factor for dissatisfaction has been studied from
people point of view which can be taken care & improved.
2. Getting an opportunity to convince & interact with the People.
3. Creating awareness & finding out opportunity for Paytm.
4. Finding out the competition in market for Paytm.

3.4 METHODOLOGY
The study is based on primary as well as secondary data available. The concept of
digitization is very novel and therefore the study has focused on the primary data
and secondary data such as research papers, budget report, and newspaper articles.

3.4.1 PRIMARY DATA:

The primary data is collected through a well-structured questionnaire. The questionnaires
are distributed among 100 people and their views are recorded.

3.4.2 SECONDARY DATA

Secondary data means the information already available. Secondary data is collected from
newspapers, websites and company journals.

3.4.3 SAMPLE SIZE:

A sample is a sub-set of individuals selected for the study from among people or objects
within a defined population. The sample size of our research was Sector 32, Chandigarh. So
the sample size comes out to be 100.

3.4.4 METHODS OF SAMPLING

Sampling is the process of selecting a number of individuals for the study. Sampling
enables the researcher to study a relatively small number of units in place of target
population, and to obtain data that are representative of the whole target population.

32
 CHAPTER – 4

DATA ANALYSIS AND INTERPRETATION

4.1 OWN A SMART PHONE AND USAGE OF SMART PHONE

FOR MAKING ONLINE PAYMENT:

TABLE NO 1

Particulars Own a smart Phone Usage of smart phone for making

online payment.

Yes 97% 87%

No 3% 13%

FIGURE NO 1

OWN A SMARTPHONE

3%

YES
NO

97%

33
 FIGURE NO 1(A)

USAGE OF SMARTPHONE FOR MAKING

ONLINE PAYMENT

NO
13%

YES
87%

INTERPRETATION:

The above chart represent that 97% of the respondents own a smart phone which
influences 87 % of the respondents to make use of smart phones for completing a
monetary transaction while 13% of the respondents do not use a smart phone for making a
online payment.

4.2 PREFERENCES OF RESPONDENTS TOWARDS MODE OF

PAYMENTS:

TABLE NO 2

Particulars % of Responses
Debit Card 50%
Credit Card 25%
M - Wallet 20%
Any Other 5%

34
 FIGURE NO 2

Any Other

MODE M - Wallet

OF
% of Responses
PAYMENTS Credit Card

Debit Card

0% 10% 20% 30% 40% 50%

PERCENTAGE OF RESPONSES

INTERPRETATION:

The above table and chart shows that majority (50%) of the respondents prefer using
Debit card followed by Credit card (25%) and M - Wallet (20%) and 5 % of the
respondents prefer other modes of Payment.

4.3 AWARENESS AND PREFERENCES ABOUT

MOBILE WALLET SERVICE PROVIDERS

TABLE NO 3

Particulars Awareness Preference

Paytm 60% 74%
Mobikwik 15% 7%
Citrus 5% 1%
Oxigen 4% 1%
Freecharge 10% 12%
Any other 6% 5%

35
 FIGURE NO 3

Any other

WALLET
Freecharge
SERVICE

PROVIDER Oxigen
Preference

Citrus Awareness

Mobikwik

Paytm

0% 20% 40% 60% 80%

PERCENTAGE OF PREFERENCE AND AWARENESS

INTERPRETATION:

The above table and chart reveals that from the sample collected, respondent’s awareness
about Paytm payment gateway service is high.60% of respondents surveyed in the study
were aware about Paytm and 74% of respondents prefer using Paytm wallet, followed by
Free charge with 12% user preference but the awareness among the respondents about
freecharge wallet is high (10%).15% of respondents were aware about Mobikwik however
only 7% of respondents surveyed, prefer using the services. Oxigen and Citrus wallet also
had 4% and 5% awareness among the respondents with lowest preference of usage.

36
 4.4 PREFERENCE TOWARDS USING PAYTMS
FOR COMPLETING THE FOLLOWING TRANSACTIONS:

TABLE NO 4

Particulars % of Responses
Recharge 45%
Utility Bill Payments 20%
Transportation 5%
Food/Movie tickets 10%
Online Shopping 15%
Transfer money 3%
Any other 2%

FIGURE NO 4

Any other
Transfer money
DIFFERENT
Online Shopping
USES
Food/Movie tickets
OF THE % of Responses
Transportation
PAYTM
Utility Bill Payments

Recharge
0% 10% 20% 30% 40% 50%

PERCENTAGE OF CUSTOMERS

INTERPRETATION:

The study also looked at various types of activities the consumers would prefer to use
Paytm, majority of the respondents surveyed prefer using Paytms for Recharge
Purpose (45%) followed by Utility bill payments (20%) and Online Shopping (15%). and (10%)
of the repondents surveyed prefer using Paytms for Online Food/Movie tickets respectively.
About (5%) for transportation while (3%) preferred to Transfer money. (2%) of the respondents
prefer using Paytms for other activites.

37
 4.5 REDUCED FREQUENCY OF TRADITIONAL PAYMENT
SYSTEM DUE TO PAYTMS:

TABLE NO 5

Particulars % of Responses
Yes 72%
No 28%

FIGURE NO 5

28%

Yes
No

72%

EFFECT ON TRADITIONAL PAYMENTS DUE TO PAYTM

INTERPRETATION:
The above table and charts shows that 72% of the respondents of the study have reduced
the frequency of traditional payments due to Paytm while 28% of the respondents are of an
opinion that Paytm cannot replace the traditional payment system.

38
 4.6 FREQUENCY OF USAGE OF PAYTMS (PER MONTH):

TABLE NO 6

Particulars % of Responses
Once 14%
Twice 20%
Thrice 6%
More than thrice 60%

FIGURE NO 6

14%

Once
Twice
20%
Thrice
60% More than thrice

6%

FREQUENCY OF USAGE OF PAYMENTS

INTERPRETATION:

The chart unfolds that payment via Paytms has increased with the usage of Smart Phones
and data access to it. The study shows that 60% of the respondents use Paytm more than
thrice in a month and 6% of the respondents use thrice a month followed by 20% of the
respondents surveyed use twice a month and 14% use only once in a month.

39
4.7 SATISFACTION OF THE USERS TOWARDS USAGE OF
PAYTM SERVICES:

TABLE NO 7

Particulars % of Responses
Highly satisfied 40%
Satisfied 56%
Neutral 4%
Dissatisfied 0%

FIGURE NO 7

% of Responses

4%

Highly satisfied
40%
Satisfied
Neutral
56% Dissatisfied

SATISFACTION OF THE PAYTM USERS

INTERPRETATION:

The study shows that 40% of the respondents are highly satisfied with the service
provided by the mobile wallet providers and 56% of the respondents are satisfied with the
service provided, together with 4% of neutral opinion.

40
4.8 OBSTACLES FACED WHILE USING THE PAYTM

TABLE NO 8

Particulars % of Responses

Yes 13%

No 87%

FIGURE NO 8

% of Responses

13%

Yes
No

87%

OBSTACLES FACED WHILE USING THE PAYTM

INTERPRETATION:

The above table and chart reveals that 87% of the respondents have not come across an
obstacle while using Paytm while 13% of the respondents have come across an obstacle
while using the Paytm and following are the obstacles they have come accrossed
(To support their response, the below mentioned are the feedbacks given by the
respondents).

Slow server response.

Paytm network does not recharge very fast compared to Mobikwik.
Sudden disturbance in internet, else no issues while using mobile wallet.
Denied transfer

41
 4.9 PREFERENCE TO CONTINUE USING PAYTM

TABLE NO 9

Particulars % of Responses
Very likely 57%
Likely 36%
Neutral 4%
Unlikely 3%
I stopped using Paytms 0%

FIGURE NO 9

% of Responses
4% 3% 0%

Very likely
Likely
36% Neutral
57% Unlikely
I stopped using Paytms

INTERPRETATION:

As the respondents are satisfied with the service provided by the Paytm service providers
57% of the respondents prefer to continue using Paytms and 36% of the respondents are
likely willing to use. 4% of the respondent’s surveys are of neutral opinion while 3% of the
respondents are opinion that they may not prefer to continue using Paytm.

42
4.10. IF PROBLEMS ARE ADDRESSED,PREFERENCE OF NON-
USERS TO USE PAYTMS:

TABLE NO 10

Particulars % of Responses
Definitely will use 14%
Probably will use 76%
Probably will not use 4%
Definitely will not use 6%

FIGURE NO 10

Prefer to continue
4% 14%
6%
Definitely will use
Probably will use
Probably will not use
Definitely will not use

76%

43
INTERPRETATION:

The above table and chart reveals that, the willingness to use the services by both
the known respondents(non-users) and unknown respondents(non-users) of Paytms is
higher i.e. 76% of the respondents are probably willing to use the Paytm services while 14%
of the respondents are definitely willing to use the Paytm services, on the other side
the percentage of respondents who are not willing to use Paytm services is lower i.e.4% of
the respondents are probably not willing to use the Paytms and the other 6% of the
respondents are definitely not willing to use the mobile wallet services.

44
 CHAPTER – 5

FINDINGS OF THE STUDY

1. Majority of the respondents use their smart phones for completing a monetary
transaction.
2. Most of the respondents prefer using Debit Card followed by Paytm.
3. The respondent’s awareness about mobile wallet payment gateway services is
high.
4. Majority of the respondents are aware and prefer using Paytm followed by
Freecharge.
5. The respondents prefer using Paytms for Recharge purpose followed by
Online Shopping and also for Food/Movie tickets.
6. The Availability, Convenience, Service acceptance, Security and Reward points
are the major factors which influences most of the respondents to use Paytms.
Majority of the respondents feel that Paytm saves time and has made life easier.
Most of the respondents feel that Paytm can be used as an alternative mode
of payment which can substitute the physical payment system.
7. Majority of the respondents have reduced their traditional payment due to Paytms.
8. Most of the respondents use Paytm frequently.
9. A large number of the respondents are satisfied with the service provided by them
whereas a few number of the respondents are highly satisfied with the service
used.
10. The willingness to use the services is very high if the problems are addressed.
11. Based on the Gender, Occupation and Income of the respondents, majority of the
respondents prefer using Paytm of various occupation and income bracket.
12. Majority of the respondents prefer using Paytm for food and movie ticket.
13. Most of the respondents prefer using Paytm for other services followed by other
wallets.
14. Security, necessity, time and services used are the factors which influence
the preferences of the respondents.

45
 CHAPTER – 6

RECOMMENDATIONS

1. People must more aware about the online payments through mobile
applications and there is a wider increase in growth rate.

2. Due to advanced feature in paytm net banking has been directly replaced.

3. There must 2nd level security authentication to safeguard our payment details.

4. Paytm Company must come across them customer problems immediately

while making payments.

5. Paytm should providing easy payment structures compared to Digital payment

system.

6. People should be more accurate about refunding their amount directly to their
wallet if any delay in payment. People should update their paytm money
applications from time to time in order to safeguard.

7. Users should be more careful about the offers, cash backs provided by paytm.

8. The digital payment system has to take necessary steps to overcome delay in
processing of payments.

46
 CHAPTER -7

CONCLUSION

Paytm supports their customers to transfer their payments with the usage of their mobile
phones in the easiest way. Paytm is a good app to download due to its wide network of
partners which makes it convenient whether you're taking a cab ride with Uber, or
ordering a meal via Food panda. Paytm has to work upon the Payment gateway to
improve the transaction efficiency as 70% people faced problem with payment gateway.
Only 5% people claim to have got assistance every time they had a failure so the service
could be improved to cater the needs of maximum customers. Paytm is currently
performing well in terms of privacy but it has to work upon discounts/offers, transaction
Time and bring about innovation to increase customer satisfaction.

47
 CHAPTER – 8

BIBLIOGRAPHY AND REFERENCES

Bibliography

Sontakki, C.N., Marketing Management, Noida, Kalyani Publications 3rd Edition,

2008.
Kotler Philip, Marketing management, Manipal Pearson India Education
Services
Pvt. Ltd. 15th Edition, 2016.
Gupta Mohit, Aggarwal N., Research methodology, kalyani publications 2016
Editions

References

https://paytm.com/

http://economictimes.indiatimes.com/topic/Paytm

https://en.wikipedia.org/wiki/Paytm

http://www.businessinsider.in/Paytm

https://www.owler.com/iaApp/223735/paytm-company-profile

http://www.businessinsider.in/Paytm-Founder-Vijay-Shekhar-Sharmas-incredible-life-
story/articleshow/50497089.cms

http://economictimes.indiatimes.com/small-biz/startups/were-as-indian-as-maruti-paytm-
founder-vijay-shekhar-sharma-on-chinese-ownership/articleshow/55647880.cms

48