“Study on Google pay

A Project Report Submitted to

University of Mumbai for partial completion of the Degree of

BACHELOR OF MANAGEMENT STUDIES

BY

SAILEE SHINDE

UNDER THE GUIDANCE

OF MR. DEEPAK KUMAR

JHA
 CERTIFICATE

This is to certify that MS SAILEE SHINDE student of TYBMS Semester VI of the

Samajonnati College of Commerce & Management Studies has successfully completed the
project report on “Study on Google pay” under the guidance of Mr. Deepak Kumar Jha for
the academic year 2024-25.

INTERNAL EXAMINER EXTERNAL

EXAMINER Mr. DEEPAK KUMAR JHA

PRINCIPAL
 Declaration

I the undersigned MS SAILEE SHINDEhere by, declare that the work embodied in this project
work titled “STUDY ON GOOGLE PAY” forms my own contribution to the research work carried
out under the guidance of Mr. DEEPAK KUMAR JHA and has not been previously submitted to
any other University for any other Degree/ Diploma to this or any other University.

I, here by further declare that all the information provided in the project is true and to the best of my
knowledge.

SAILEE SHINDE
 ACKNOWLEDGEMENT

This project has been a great learning experience for me. I take this opportunity to thank Mr.
DEEPAK KUMAR JHA, my internal project guide whose valuable guidance & suggestions made
this project possible. I am extremely thankful to her for her support.

I express my heart-felt gratitude towards my family and all those friends who have willingly and with
utmost commitment helped me during the course of my project work.

I also express my profound gratitude to Principal of Samajonnati College of Commerce &

Management Studies for giving me the opportunity to work on the project and broaden my knowledge
and experience.

My sincere thanks to Mr. DEEPAK KUMAR JHA for their valuable guidance and advice in
completing this project.

I would like to thank all the professors and the staff of Samajonnati College of Commerce &
Management Studies, Borivali .Last but not the least, I am thankful to all those who indirectly
extended their co- operation and invaluable support to me.
Chapter Title of the Chapter/Particular Page no
/ Sr.
no
1. INTRODUCTION 7-55

2. Research Methodology 56-60

3. Literature Review 61-63

4 Data Analysis Interpretation And Presentation 64-81

5 Conclusion and suggestions 82-86

6 Bibliography and Weblography 87-88

7 Annexure 89-92
 CHAPTER 1
INTRODUCTION

1. INTRODUCTION

The last decade has seen tremendous growth in use of internet and mobile phone in
India. Increasing use of internet, mobile penetration and government initiative such
as Digital India are acting as catalyst which leads to exponential growth in use of
digital payment. Electronics Consumer transaction made at point of sale (POS) for
services and products either through internet banking or mobile banking using smart
phone or card payment are called as digital payment. The consumer perception of
digital payment has a significant and positive impact on adoption of digital payment.
The
structured questionnaire was used as research tool for understanding consumer
perception of digital payment. Primary data was collected from 100 respondents in
Mumbai.

It has been said that every disruption creates opportunities and one such disruption
was the announcement of demonetization by Prime Minister Mr. Narender Modi on
08 November 2016. Demonetization created huge growth opportunity for digital
payment in India and the digital wallet companies garbed the opportunities with both
the hands to expand their market share. Demonetization has presented a unique
platform for adoption of digital payment, as an alternative to cash for Indian
consumers.

Adoption of cashless transaction has been significantly pushed by Prime Minister Mr.
Narender Modi as part of government reforms after demonetization of high value
currency of Rs. 500 and 1000 (86% of cash circulation). The demonetization resulted
in unprecedented growth in digital payment. By February this year, digital wallet
companies had shown a growth of 271 percent for a total value of US$2.8 billion (Rs.
191 crores) , Indian government and private sector companies such as Paytm, Free
charge and Mobikwik had been aggressively pushing several digital payment
applications, including the Aadhaar Payment app, the UPI app, and the National
Payments Corporation of India (NPCI) developed the Bharat Interface for Money
(BHIM) app.

Digital transfers using apps has brought behavioral change and helped in the adoption
of digital payment. This has resulted in ease of transfer of money in rural areas which
was not touched earlier by the digital payment method. Now many foreign investors
want to invest in digital payment industry which is new attractive destinations
because of scope of tremendous expansion in India.

Digital Wallets or mobile wallets (e-wallets) refer to a device or service that lets you
carry out monetary transactions electronically. Cashless payments for monetary
transactions can be done through a Digital Wallet. And you can also link your digital
wallet with your mobile phone number.
India has seen a phenomenal increase in the number of digital wallet users. The
nation is slowly moving towards being a cashless economy. A Digital Wallet or a
Mobile Wallet (e-wallet) makes your life easier by helping you to carry out
transactions in a quick and easy way.

There are number of facilitators which are leading to the growth of digital payment
and transition from cash economy to less cash economy. These facilitators include
penetration of internet connectivity on smart phones, non-banking financial
institution facilitating digital payment, one touch payment, rise of financial
technology sector and push by government either by giving incentives or tax breaks.
These all factors are creating positive atmosphere for growth of digital payment in
India.

1.1 Classification of Online Payment Systems

There are quite a number of online payment services that have been developed
within the payment system around the globe. These include electronic cheques, e-
cash, credit cards and electronic fund transfers. Several types of online payment
systems have been studied bywho classified them into electronic currency and
account-based systems. In account-based systems, users are allowed to pay using
their own bank accounts while the latter allows consumers to pay only with the help
of some electronic currency.

Both the systems provide numerous payment methods such as

i) Electronic payment cards (credit/debit and

charge cards),
ii) Mobile payments,

iii) E-wallets,
iv) Smart and loyalty cards,

v) Virtual credit cards,

vi) Stored value card payment,
and

vii) E-cash

On evaluation of the online payments systems by, several features of varied online
payment methods have been accentuated as:

1) Credit Cards:

Credit cards are by far the most popular mode of online payment. In the
beginning, security concerns hampered their adoption but gained customer trust
later when security features were provided for each transaction. Credit card
applicability is one of the strongest factors which contribute to its extensive use
all over the world.

Nonetheless, it is not considered feasible for making small payments or small

businesses since they require huge fees. The most important advantage of credit
cards is the ease-of-use they provide in performing transactions online from any
part of the world and in no time. Moreover, they can be obtained easily without
the burden to possess any additional hardware or software for making them work.

The authentication of card-holder is simply provided using credit card number, a

name and expiry date. In order to keep the personal information of users secure,
complementary systems, like Verified by Visa and Master-Card Secure Code
have been developed by credit card companies. Moreover, this payment mode
offers users with the provision of password creation which they use for shopping
online via credit cards.

2) Debit Cards:
 Debit cards are gaining popularity with each passing day and have become the
most popular cashless payment methods all over the world. As compared to credit
cards, the payments made via debit cards are withdrawn from the consumer’s
personal bank account and not from any intermediary account. So, users fail to
have an additional security in their debit accounts thereby troubling them while
handling payment disputes.

However, only the account number is required for making debit payments with
no need to produce a card number or a physical card. Although debit cards have a
huge user base in several countries but they are not widely used on merchant
websites due to their failure to satisfy international customers.

The costs incurred by the usage of debit cards are lower as compared to credit
cards which makes them feasible for micropayments. Furthermore, they have a
higher level of security than credit cards due to the requirement of extensive
identifications demanded by banks.

3) Mobile Payments

As per, the payments that are made via wireless devices such as smart-phones
and mobile phones are assumed to offer reduction in transaction fees, and
increase in online payment security and convenience. Such a payment method
has facilitated businesses in the collection of valuable information regarding their
customers as well as their purchases.

According to, mobile payment systems are applicable globally as a result of their
astonishing growth and downright incursion of mobile devices in comparison to
other tele-communication infrastructure. Mobile payments have been found to be
feasibly used for both online purchases and offline micropayments.

Since the mobile phones have a huge consumer base, online traders are
potentially attracted to this payment method. The usage of mobile payment
services reduces the overall transaction costs as well as provides a better
security.
 Nonetheless, their inability to suffice international payments and privacy has led
to several issues in gaining a significant user base.

4) Mobile Wallets

According to Doan (2014), “Mobile wallet is formed when your smart-phone

functions as a leather wallet: it can have digital coupons, digital money
(transactions), digital cards, and digital receipts”. Using mobile wallets, users are
allowed to install the application in their smart-phones which they can employ for
making offline as well as online purchases.

In future, mobile wallets are assumed to offer more convenience to customers in

making transactions with the help of technologies which connect smart-phones
and the physical world via sound waves, cloud-based solutions, NFC (Near Field
Communication), QR codes, etc.

5) Electronic Cash

In the initial phase of online payment system introduction, electronic cash

systems wasknown by the name CyberCash or Digit Cash national banking
system. Every single online exchange must go through a Payment Gateway to be
handled. A Payment Gateway routes and confirms details of payment in
amazingly secure conditions between related banks and different factions.

The Payment Gateway works basically as an "encoded" channel, which safely

routes details of transactions from the purchaser's Personal Computer (PC) to
banks for authentication and countersignature. Upon approval, the Payment
Gateway sends back the data to the merchant consequently finishing the "order",
and giving confirmation.
Fig 1.1.1: Online Payment Process

1. A customer submits the credit card transaction to the Payment Gateway via a

secure connection from your Web site.

2. Payment Gateway receives the secure transaction information and passes it via

a secure connection to your bank’s processor (a financial partner that provides

credit card processing on behalf of the credit card associations, for example,
Visa or Master Card).
3. Your bank’s processor submits the transaction to the Credit Card Interchange

(a network of financial entities that communicate to manage the processing,

clearing, and settlement of credit card transactions).
4. The Credit Card Interchange routes the transaction to your customer’s Credit

Card Issuer.
5. The Credit Card Issuer approves or declines the transaction based on the

customer’s available funds and passes the transaction results, and approved.
6. The Credit Card Interchange relays the transaction results to your bank’s
processor.
 7. Your bank’s processor relays the transaction results to the Payment Gateway.

8. Payment Gateway stores the transaction results and sends them to you
and/or your customer.
1.2 Digital Payment Modes in India

There are several modes of digital payment available in India. These are:

Online or mobile wallets: They are used via the internet and through smartphone
applications.
Money can be stored on the app via recharge by debit or credit cards or net-banking.
Consumer wallet limit is Rs. 20,000 per month and the merchant wallet limit is Rs.
50,000 per month after self-declaration and Rs. 100,000 after KYC verification.

Prepaid credit cards: Pre-loaded to individual’s bank account. It is similar to a gift

card; customers can make purchases using funds available on the card -and not on
borrowed credit from the bank. Can be recharged like a mobile phone recharge, up to
a prescribed limit.

Debit/Ru-paycards: These are linked to an individual’s bank account. Can be used at

shops,
Atms, online wallets, Micro-Atms, and for e-commerce purchases. Debit cards have
overtaken credit cards in India. The number of debit cards in December 2015
increased to 630 million compared to 22.75 in 2014.

AEPS: The Aadhaar Enabled Payment System uses the 12-digit unique Aadhaar
identification number to allow bank-to-bank transactions at pos. AEPS services
include balance enquiry, cash withdrawal, cash deposit, and Aadhaar to Aadhaar fund
transfers.

USSD: Stands for Unstructured Supplementary Service Data based mobile banking.
It is linked to merchant’s bank account and used via mobile phone on GSM network
for payments up to Rs. 5,000 per day per customer.
UPI: The United Payments Interface (UPI) envisages being a system that powers
multiple bank accounts onto a single mobile application platform (of any participating
bank). Merges multiple banking features, ensures seamless fund routing, and
merchant payments. It facilitates P2P fund transfers.Digital payments in India have
been experiencing exponential growth and with growth of internet and mobile
penetration, in coming years the country is ready to witness a huge rush in the
adoption of digital payments. According to Ratan Watal, principal advisor Niti Aayog
and former finance secretary, digital payments grew 55% by volume and 24.2% by
value in 2016-17 over the previous year.

Data from the Reserve Bank of India (RBI) indicates that the rate of adoption of
digital payments had accelerated following demonetization last year but has slowed
in recent months of 2017. Total digital transactions in April 2017 of Rs109.58 trillion
are 26.78 lower from Rs149.58 trillion in March 2017.

The volume of digital transaction has witnessed exponential growth in volume and
value whether it is digital wallet, interbank transfer or transaction by debit or credit
card. At merchant places the number of card transaction at point of sale terminal have
witnessed a huge serge which reflects that people have started making payment by
debit card instead of withdrawing cash from ATM to make payment.

In January 2017 the number of transactions of debit card increased to one billion from
817 million in previous year. It has been observed that ATM transaction are more or
less same at 700 million, the transaction at point of sale terminal has increased three
times from 109million in January 2016 to 328 million in Jan 2018.

According to Lokvir Kapoor, chief executive officer at pinelabs“the card transaction

post demonization saw huge growth because of infrastructure for the acceptance of
card at different merchant location.” Pinelabshas helped this growth by deploying a
significant number of point of sale at retailers across the country.

Also the number of initiative such as cash back, no transaction charge up to certain
limit with further help in growth of digital transactions. The government put pressure
on banks to deploy one million addition Pos terminal in three months boost the
availability of point of sale and by January 2019, their number rose to 2.52 million.

India is heading on the path of a major digital revolution. The future economy will be
driven by cashless transaction which will be possible only though digitalization of
payment mechanism at different location such as smart phone, internet banking, card
transaction etc.

The focus of present study is to find how respondents are adopting digital payment.
The study collected response from 100 respondents and analyzed their perception,
preferences and satisfaction level of digital payment. It further identifies the barriers
and challenges to the adoption of digital payment.

1.3 Digital Wallets in India: -

The Digital movement in India is in full flow and it’s making our lives much easier.
Digital Wallets are helping us in our quest to become a cashless economy.

Fig1.3.1: Paytm
AboutPaytm:
Launched in 2010, Paytmis the largest digital wallet app in India. Paytm is one of the
most used ewallets in India with over 160 million people using Paytmacross the
nation. They’ve managed to raise around Rs. 2.2 Billion through funding by
investors.

Why Should You Use Paytm?

Payments made through Paytm’sdigital wallets in India are accepted almost
everywhere across the nation. As a customer Paytmoffersyou various services
through its digital wallets system. You can also use their e-wallet to make payments
to numerous online merchants. One of the best things about this digital wallet is that
it allows you to do much more than carry out your e-commerce transactions.
Similarly, through their digital wallets in India, you can transfer money, travel, shop,
and carry out many more transactions through paytm.

With payments via Paytmbeing accepted almost everywhere, it’s hard not to simply
switch to it completely. Paytm has recently partnered with selective educational
institutes across India to make it easier for the users to make cashless payments of
fees as well.

Key feature of Paytm:-

Transferring money instantly to the bank from Paytm account.

Paytm has launched an app password feature for Paytm Wallet in order to ensure the
money is safe even if the customer lose or misplace his/her phone.

A customer can use Paytm even without a Smartphone.

2. Google Pay

Fig 1.3.2: Google Pay

About Google Pay:
Google Pay has quickly made a name for itself as one of the best digital wallets in
India.
Even though Google Pay has been a late entrant in the market of digital wallets in
India, it has quickly managed to make an impact on the users’ thanks to their hassle-
free services.

Currently, Google Pay has more than 25 million a month active users of the digital
wallet in India.

Why Should You Use Google Pay?

Send and receive money instantly in your bank account using Google Pay UPI.
You can easily send money to your friends, recharge your phone, pay bills and much
more through Google Pay.

Google Pay is directly connected to your bank account and your registered phone
number.
This helps you save time that you would rather spend on reloading wallets and doing
additional KYC which is generally required for other digital wallets in India.

You can easily use Google Pay and send or receive money directly from your bank
account.

3. Amazon Pay:
 Fig 1.3.3: Amazon Pay:

About Amazon Pay:

The Global Giant i.e Amazon has developed its own digital wallet known as Amazon
Pay.
The digital wallet was launched in 2007 globally.
However, Amazon Pay was launched in India a decade later i.e in 2017.
More than 33 million people use Amazon Pays Digital wallet to make payments for
various transactions.

Why Should You Use Amazon Pay?

Previously Amazon Pay was only used to make payments when you purchase
something from Amazon.

Now Amazon lets you make payments through Amazon Pay while transacting with
selected merchants. Amazon Pay also offers various benefits like discounts and
cashback.

Amazon Pay allows you to access data from the site of the merchant in a seamless
manner.
Therefore, helping you streamline your purchase process.
Similarly, you can transact without entering information like credit card or debit card
details, address, etc. While doing this you can be sure of security since Amazon has
restrictions when it comes to data security, your data is safe and secured without
losing integrity.
Some of the major attractions of using Amazon Pay’s digital wallets is their brilliant
general usability, mobile support along with a rich feature set.

4. PhonePe:

Fig 1.3.4: PhonePe

About phonepe:
Phonepeis an all-in-one UPI-based digital payment app.
It is one of the most popular digital wallets in India.
Phonepehas been able to cross the 100 million download mark within just 4 years
since it’s existence.

The app is powered by Yes Bank and launched by Flipkart, two giants in their
respective industries. The app crossed the 100 million user mark in 2018 and is
growing day by day.

Why Should You Use Phonepe?

You can do everything through this app, from UPI payments to paying through the
phonepeewallet, from QR code payment to paying through your debit & credit cards.

Phonepeis not just like any other digital wallets in India, it has many features in the
app that make our liveseasier.
 Get great deals and cashback on bill payments, food outlets, shopping, and much
more through phonepe.

Phonepeassures data security against cyber-criminals.

Along with this phonepeis a multi-lingual app.
The app is available in English, Hindi, Marathi, Tamil, Bengali, and more.
Therefore making it easier for users to use the app seamlessly across the nation.

5. Free-charge:

Fig 1.3.5: Free-charge

About Free-charge:
Free-charge, one of the most famous names right now when it comes to digital
payment in India, has been known to target the youth in all their promotions.

Kunal Shah and Sandeep Tandon founded Free-charge in 2010, to make it easier for
people to transact through their digital wallets in India.

Why Should You Use Free-charge?

With an equivalent amount of coupons given for every recharge you make, it’s a great
option to save while paying your bills online.

Along with that their “Chat-n-Pay” service helps users chat and pay their friends and
merchants instantly. Free-charge offers exclusive deals and coupons to the customers
who use Free-charges’ digital wallet.
The Free-charge digital wallet in India can be used to make both online as well as
offline payments. Similarly, you can also use Free-charge to make payments at
merchants like Hypercity, mcdonald’s, Cinepolis, Shoppers Stop, homestop,
Crosswords, and more.

6. BHIM:

Fig 1.3.6: BHIM

About BHIM:
This digital wallet is backed by The Reserve Bank of India (RBI) and launched by
The National Payments Corporation of India.

BHIM is probably one of the best digital wallets in India based on UPI.
The BHIM digital was launched in India by Prime Minister Narendra Modi for all
the android users.

BHIM has played an important role in the quest to make India a cashless economy.

Why Should You Use BHIM?

This digital wallet in India supports all the banks across the nation.
Along with that BHIM lets you send and receive money using Virtual Payment
Address (VPA) wherein you can transact without disclosing your bank details.

Consequently, it also allows merchants to transact with customers by using

fingerprint scanner which is obtained through the Aadhaar database.
BHIM enables QR code scan-and-pay option.
Likewise, you can generate your own unique UPI PIN and QR code through the app.
Also, you don’t need to worry about security issues as your login expires after 90
seconds of inactivity to minimize inappropriate and fraudulent use of your data.

Additionally, BHIM also provides you a transaction history to make sure that you
keep a check on your transactions through the app.

7. ICICI Pockets:

Fig 1.3.7: ICICI Pockets

About ICIC Pockets:
ICICI is one of the leading Indian multinational banks.
Currently, it is the largest private sector bank in India.
ICICI Pockets is a digital-payment based app for mobile phones.

The digital wallet in India service was started to make your lives easier by enabling
you to make digital payments in an easy way.

The app uses a virtual VISA card to enable users to transact on any website or mobile
across the nation.

Why Should You Use ICICI Pockets?

The ICICI Pockets e-wallet is not just limited to users of ICICI bank, you can fund
your digital wallet through any bank account.
 The app’s digital wallet lets you transfer money, split expenses, book entertainment
tickets, and do much more with one of the best digital wallets in India.

And since this e-wallet uses virtual VISA, you can transact on any app.

The digital wallet app allows users to send money to any phone number, Facebook
user, bank account number, and email ID.

To make this process fun and social, ICICI Pockets uses your Facebook
credentials to log in. While you might find a Pocket card useless, considering
you’re opting for an e-wallet app to avoid using a card, they do have a pretty neat
digital wallet app.

8. Jio-Money:

Fig 1.3.8: Jio-Money

About Jio-Money:
Jiomoney, launched recently in 2016 by Jio, is a digital payment app.
The app is inspired by the concept of digital wallets in India.
Similarly, the jiomoneyapp lets you get all the benefits of cash. Above all without any
of its limitations.

Why Should You Use Jio Money?

With jiomoney, one can receive great discounts and offers.
Users can also bookmark their frequently visited retailers so shopping can be made
quicker than usual.
 The best thing about Jio Money is that it can be used by people who do not have Jio
as their telecom service provider.

And if you own a Jio LYF mobile phone, you get exclusive access to the app that is
preloaded with discounts and offers from selected merchants.

The jiomoneydigital wallet in India also enables you to make secure digital payments
from anywhere. Along with that, the app is very easy for everyone to use and quite
simple to navigate.

9. HDFC PayZapp:

Fig 1.3.9: HDFC PayZapp

About HDFC Pay Zapp:
HDFC PayZappis making digital wallets in India simplified. Consequently it is one
of the top digital wallets in India with one-click payments.

PayZappis a complete digital payment solution.

Why Should You Use PayZapp?

Users can easily compare flight and hotel tickets and even buy music or pay bills
with the app.
Simply connect your debit or credit card once and forget to worry about making
payments.
It is probably one of the best one-click payment solution digital wallets in India.
And PayZapplets you enjoy amazing offers at smartbuy, you can send money to
anyone in your phone book through their digital wallet in India.

The digital wallet app is fast, secure, and convenient to carry out digital payments.
Above all, you don’t need to re-load money again and again in your PayZapp digital
wallets in India.

Because once you link your Debit or Credit card, you won’t need to worry about
reloading your ewallet. Likewise, the app keeps your details secure with the bank and
the data isn’t stored on any phone or website. Consequently, PayZappconducts three
security checks for each transaction by using proprietary technology.

10. Citi Master pass:

Fig 1.3.10: Citi Master pass

About Citi Master pass:
Citi Master passis one of the free digital wallets in India launched by Citi Bank India
and Mastercard.

It is India’s first global digital wallet which helps you make the checking out process
quicker on ecommerce sites.

The co-branded masterpasssolution is the first of its type Asia and Indian
marketplace.
Citi Master Pass, a free digital wallet, helps make checking out while online shopping
a speedier process. Once you’ve stored all your payment and shipping details in your
Citi Wallet, simply click on the MasterPass button and it will take care of the rest.

Why Should You Use Citi Master pass?

Users also get the benefits of services like storing all your credit, debit, loyalty cards,
and shipping details in one place.

Citi Bank credit and debit card users are able to shop with more than 2,50,000 online
merchants. Once you’ve stored all your payment and shipping details in your Citi
Wallet, simply click on the masterpassbutton and it will take care of the rest.

11. Mobikwik:

Fig 1.3.11: Mobikwik

About Mobiwik:
Mobikwik is a Gurgaon based e-wallet payment system in India that helps its users
store their money.

Their payment system of digital wallet in India was founded in 2009 by Bipin Singh
and UpasanaTaku. Mobikwik large network connects more than 25 million users
with approximately 50k merchants through their payment system of digital wallets in
India.

Why Should You Use Mobikwik?

Their e-wallet payment system enables you to recharge, pay bills, book travel tickets,
and make third-party purchases through Mobikwikdigital wallet.

Similarly, the digital wallet app allows you to buy digital gold, insurance, get a
personal loan on Mobikwik, and you can also invest in mutual funds through one of
the best digital wallets in India.

You can carry out transactions by adding money to your digital wallet through your
debit card, credit card, net banking.

Their service is not just limited until there, you can also opt for doorstep cash
collection and use it to pay bills and shop through their digital wallets in India.

Key feature:-

Introduction of M-Wallet makes it easy for storing and transaction of money.

Instant rechargewithout sign-up.
Encrypted and highly secured transactions.
User friendly mobile application.

12. YONO SBI:

Fig 1.3.12: YONO SBI About

YONO SBI:
YONO SBI is a digital wallet in India that’s available in 13 languages.
Subsequently, YONO is also available for non-SBI consumers.
It is one of the best digital wallets in India thanks to the national reach of The State
Bank of India. With YONO SBI your convenience is met by making digital payments
a hassle-free process.

Why Should You Use YONO SBI?

Users can send money via the digital wallet of YONO SBI to other bank accounts,
book hotels or movie tickets and much more.

You can set a reminder for money transfers and dues through this app.
It is one of the best digital wallets in India as it offers an additional service of
providing ministatements for the transactions that you carry out through yono’sdigital
wallets in India.

The app puts some of India’s largest range of goods and services at your fingertips.
Similarly, the app lets you invest and bank digitally, you can also book IRCTC train
tickets, flights, and vacations through the app.

13. Ola Money:

Fig 1.3.13: Ola Money About

Ola Money?
Ola is one of the fastest-growing startups in India and in 2015 it launched its own
digital wallet.
They’ve developed one of the best digital wallets in India.
Above all, Ola money is amongst the easiest, fastest, and safest way of transacting
through digital wallets in India.

Why Should You Use Ola Money?

You can use this digital wallet to pay for your Ola rides.
Ola money has made cashless traveling a dream come true.
However, you can also use Ola money to buy groceries, flight tickets, and much
more.
The Ola Money app lets you transact with your stored money on the Ola Money
digital wallet at various online merchants.

The best thing about Ola Money’s digital wallets in India is that you can withdraw
your Ola Money to your bank account.

And the app also lets you avail offers with partner merchants like mybustickets.
Similarly, Ola Money looks to partner with more and more merchants in the near
future to give you more options to browse through the app.

14. M-swipe:

Fig 1.3.14: M-swipe About

M-swipe:
M-swipe, the first mobile point of sale solution in India, founded in 2012 to help
make digital payments hassle-free.
They’ve managed to raise around USD 98 million worth of funds through various
funding rounds and from various investors.

M-swipe technologies plan to have around 1.5 million merchants using their platform
by 2019-20.

Why Should You Use M-swipe?

You don’t exactly get an app, but you get a machine that can be attached to your
mobile device to accept card payments.

This may not be a digital wallet app but it does support going cashless.
Consequently, M-swipe is also planning to add new features in their app that make it
easier for customers and merchants to carry out transactions.

They’re planning to add features like UPI payments and payments made by using a
QR Code.

With the newly added features, it’ll be easier for you as customers or merchants
to keep a check on your transactions, record your sales, and manage notification
in a single place.

The secure mobile POS solution by M-swipe works with Smartphones, computers,
tablets, and links to the bank account.

15. Vodafone M-Pesa:

Fig 1.3.15: Vodafone M-Pesa

About M-Pesa
The use of digital wallets in India has increased year on year and mobile wallets like
Vodafone MPesa have given users a convenient way of payments.

Hence, it is one of the most commonly used digital wallets in India.

With M-Pesa’s efficient digital wallets in India, you can make safe and hassle-free
transactions through your phone.

Why Should You Use It?

You can recharge your mobile phone, DTH and pay for various utility services
through Vodafone M-Pesa. One thing separates Vodafone M-Pesa from all the other
digital wallets in India is that it helps users collect cash from their outlets when
someone transfers money into the users M-Pesa wallet.

Vodafone M-Pesa has made this service available to users across more than 1,20,000
outlets.

M-Pesa gives you 5% cashback on your transactions.

If you want to send money to someone, just enter their number along with the amount
and the secret 4 digit code before sending.

Once you send the money, the recipient can show the SMS along with an ID Proof at
the nearest MPesa outlet to withdraw the money.

16. Oxigen:
Fig 1.3.16:Oxigen
About Oxigen:
In 2014 Pramod Saxena founded Oxigen to offer digital payment services throughout
their digital wallets in India.

Currently, they’re one of the major providers of digital wallets in India.

With around 20 million customers along with 15,000 registered merchants and more
than 50,000+ outlets using Oxigen digital wallets in India.

Why Should You Use Oxigen?

Along with making online purchases and paying bills, you can also send gift cards to
your dear ones.

You can also recharge your mobile, data cards, and DTH connections through Oxigen
digital wallets.

Enjoy paying and shopping seamlessly through Oxigen digital wallets in India.

The Oxigen e-wallet also lets you explore exclusive discounts and cashback offers
under the ‘Deals & offers’ section of the app.

Also, the app lets you get a consolidated view of your transactions in ‘My Wallet’.
You can send money to any mobile number on any telecom network in India.
Similarly, you can send money to any of the 170+ Banks in India through IMPS or
NEFT.

Key features:
Send money to other mobile phones.
Shows transaction history.

17. Citrus Pay:

Fig 1.3.17: Citrus Pay

About Citrus Pay:
Citrus Pay is powered by PayUand it is one of the top digital wallets in India.
Having been launched in 2011, they’ve quickly made their mark on the market of
digital wallets in India. They’ve built a network that spans across more than 21
million customers along with 8,000+ merchants. They’re one of the leading digital
wallets in India used by online merchants.

Citrus Pay, one of the top e-wallets in India, it offers a Citrus wallet for customers as
well as payment solutions to businesses. With a strong base of 800 million customers,
it has definitely earned its spot as one of the best mobile wallets in India.

Why Should You Use Citrus Pay?

They offer a Citrus wallet for customers as well as payment solutions to businesses.
And you can send or receive money, share cabs, split bills, and do much more by just
using your mobile number on the Citrus Pay e-wallet.

Citrus Pay has definitely earned its spot as one of the best digital wallets in India.

Key features:
Fastest among all the digital wallets.
Citruspaywallet offers and discounts.

18. Airtel Payments Bank:

Fig 1.3.18:Airtel Payments Bank

About Airtel Payments Bank:
Bharti Airtel is one of the leading companies in the telecom industry.
Airtel Payments Bank is a subsidiary of Bharti Airtel.
It became the first live payments bank in India.

Similarly, Airtel Payments Bank is also the first company to receive a payments bank
license from the RBI. The company is a joint venture between Bharti Airtel Ltd.

And Kotak Mahindra Bank Ltd. However, Kotak Mahindra Bank holds approx.
19.9% stake in the company.

Why Should You Use Airtel Payment Bank?

With the Airtel Payments Bank app, users can easily recharge prepaid accounts or
pay postpaid bills.

You can also shop online if your digital wallet has cash loaded in it.
It’s also extremely safe as every transaction or payment you make through Airtel
digital wallets or mobile wallets requires a secret 4-digit mpin.
Airtel offers you two of the most important things when it comes to digital
transactions i.e Quick transactions and Security.

On top of that one of the best part using the app is you can enjoy your favorite
movies and music on the go. Consequently, you also get free access to entertainment
platforms like Amazon Prime, Netflix, ZEE5, Wynk Music, Airtel TV, HOOQ, Live
TV, and Airtel Books.

19. Pay-UMoney:

Fig 1.3.19: Pay-U Money

About Pay-U Money:

Pay-umoney’s a part of pay-u India. And it is a free payment gateway solution
through digital wallets in India. Similarly, it is one of the most popular digital wallets
in India thanks to pay-u immense presence in the digital payment industry. Currently,
more than 4.5 Lakh businesses use pay-umoneyto carry out their digital payments.

PayUMoney, a part of Pay U India, is a free payment gateway solution for merchants
to collect payments from customers via debit/credit cards or net banking, and more.
They also offer SMS and email invoicing for merchants that do not have a website .

Why Should You Use Pay-U Money?

Pay-U moneyprovides award-winning payment gateway solutions to businesses by
using state-ofthe-art- technology. Along the way, it is very helpful for merchants to
collect payments from customers via debit and credit cards or net banking, and more.
They also offer SMS and email invoicing for merchants that do not have a website.

This mobile wallet offers rewards point on every transaction. The best thing about
this wallet, it gives Pay-U MoneyBuyer Protection.

Key feature:-
Auto read of OTP.
Picking up the transaction where it dropped.
Risk monitoring.

20. Momo Express:

Fig 1.3.20: Momo Express

About Momoexpress:
Momoexpress, a Bangalore based digital wallet in India, claims to have the fastest
checkout system. Though they’re only available in Bangalore, they have a wide range
of solutions they offer to residents in Bangalore.

It is the future of cashless payments. Momoexpressis working towards a goal where

money will only be a number on your phone.
No cash, No coins.

Why Should You Use Momoexpress?

Although it is only available in Bangalore, momoexpressis one of the fastest digital

wallets in India. Because, with momoexpress, paying through a digital wallet is really

fast, 0.3 seconds to be precise. You save approximately 5 minutes per payment you

make.

Plus it can be used in numerous places like paying for your rickshaw ride to salons &
spa’s, there are over 3000 outlets available at your disposal.

MomoeXpress, a Bangalore based digital wallet in India, claims to have the fastest
checkout system. Though they’re only available in Bangalore, they have a wide range
of solutions they offer to residents on the city. From paying for your rickshaw ride to
salons & spas, there are over 3000 outlets available at your disposal.

1.4 GOOGLE WALLET

The Google Wallet application is based on the third mode of operation. It allows
users to store their debit cards, credit cards, gift cards and loyalty cards on a
smartphone, transforming it into a virtual wallet. Google Offers from participating
merchants are also redeemed automatically. The release of the cloud-based version of
Google Wallet, extended support to all credit and debit cards from VISA,
MasterCard, American Express, and Discover.

This new approach has led to faster technology integration with banks and their
associated cards. Moreover, the digital wallet can be accessed from any and all
compatible devices, such as tablets, handsets and PCs. Initially meant to ameliorate
the limited choice in credit and debit cards, the Google Wallet Prepaid Card has often
been encumbered by security issues. As it is no longer an expedient proposition, it
has been phased out on October 17th 2012.

At first the only phone which supported Google Wallet was the Sprint Nexus 4G.
Gradually the application was expanded to other phones including LG Optimus Elite,
LG Viper 4G LTE, Galaxy Nexus, Sprint Galaxy S3 and Nexus 7. All of these are
Android phones that carry an embedded chip for NFC. Signals emanating from the
device are read at any MasterCard PayPass terminal. As of September 2012, over
twenty retail chains accept Google Wallet.

The Google Wallet application is designed as an "open" platform. Payment networks,

carriers, and banks have been invited to join and participate in the system. In addition
to in-store use, Google Wallet has myriad applications that encompass online
shopping, retail technologies and payment technologies. As of September 2012, the
application is free to use. Initially launched only to function in the United States,
similar apps are being developed in different parts of the world.

Operation:
Google wallet is designed for easy use on the go, mainly in the domain of customer
retail. A user must switch on the display of the mobile device that carries the
application. After unlocking the phone, if the user has not entered the application’s
unique personal identification number recently, then she must do so. Following this,
the device must be tapped against a compatible card reader. Payment credentials are
then transferred to the merchant. After that, the merchant receives a confirmation on
the sales terminal and a receipt is printed, while the customer receives a confirmation
on the mobile device.

Cards added to google wallet are of two types. Cards such as the Google prepaid
cardand most Citibank mastercardare directly enabled by the issuing bank for use
with google wallet. In this case, the use of the application. Results in the direct
transfer of registered card information to the merchant and the transaction is
processed as if the physical card was presented for payment.

The addition of other types of cards results in the issue of a “google wallet virtual
card” by the bank. Upon activation, the card is stored in the user’s Google wallet
account, which is in turn linked to the user’s Google wallet card.

An in-store purchase to a merchant is facilitated via the virtual google wallet card and
then charged to the selected credit or debit card. In the case of such a transaction, the
application presents the virtual google wallet card to the merchant, rather than the
actual card credentials.

Google wallet stores encrypted user information on a computer chip called the secure
element. The secure element is separate from the phone’s main operating system,
hardware and memory and uses both hardware and access control.

The chip is designed to only allow trusted programs, running on the same device, like
google wallet to access the information stored therein.

A combination of the pn544 nfc controller along with an embedded smart-mx secure
element was chosen for the google nexus s. It can also support swp, which allows a
mobile operator put a secure element in the sim. Google wallet makes use of several
applets, all pre-installed on the secure element.

The wallet controller stores information about the current state and timeline of the
application. The controller also enables the contactless payment functionality upon
unlocking the wallet app on a user’s smartphone.
The mi-fare manager app makes use of an emulated mi-fare chip. The manager also
uses a log like directory to track added and removed loyalty cards. These can then be
retrieved later by tapping at the pos.

It is speculated that one or more envy compatible applets are perhaps used to enable
payment with a mobile device at compatible pos terminals.

1.5 Benefits of Google Pay Payment App are given below:

Time savings
With electronic payment system you do not have to spend and waste a lot of time
standing in lines of banks and post office and then your transaction would take hours
or days to be done. Using epayment system you can make funds transaction in few
minutes with waste of no time.Quick and Easy way to send and receive money.

Expenses control
Manage expenses with e-payment system

Using electronic payment system would allow you to have your electronic wallet
where all the expenses and transactions history is recorded on your account. So it is
easy to control and manage your expenses with e-payment system rather than paying
by cash while you have no control unless you keep a writing record of your daily
expenses which is of course difficult.

Reduced risk of money lost

While electronic wallets are virtual it cannot be left somewhere or even robbed by
someone. You just need to make sure you have a secure e-payment account and then
you do not have to be worry to forget your virtual wallet somewhere or you be the
victim of rubbery. E-payment eliminates the security risks that come with handling
cash money.Encryption and multiple layers of security by Google to secure
transaction.

Low Transaction Costs

Using electronic payment system, you will face no additional charges for making a
cash payment. It can cost you money to get to store to purchase something and also
checks postage can be costly too.

On the other hand you probably know that paying through unattended payment
terminal for internet or mobile bills cost customers high fees while electronic
payment system would only cost 1% of the total amount fee in this kind of
operations which is considerable.

Generally there are small fees or sometime no fees for swiping your card and make a
payment through your e-payment account online. This can save a lot of money spent
on transaction fees for both regular users and business owners.No additional cost of
usage.

High Speed and increased Convenience

Make money transactions fast and easy

Traditional payment methods like cash and check cannot be used at any time on day
or night while using electronic payment system you can pay for goods and services
online at any time anywhere in the world as you wish so.

Customers do not have to spend time to get to the store or service provider and also
they do not have to stand in lines to make payment. Users do not have to wait for
check to access the fund they need to purchase anything. All the fund transfers can be
performed at anytime, anywhere with high speed and in a few minutes without waste
of time since all you need to have is access to the Internet.
 Costumer service
Since electronic payment services try to reach widest possible users they try to
provide strong user interface. Using these services you always are able to ask
a question about your account or issues you face from the support team.

Costumer support usually works 24 hour 7 days a week and you will get answer to
your questions as soon as possible. Businesses who use electronic payment would
also offer users refund in special cases so you do not have to be worry if you pay for
something wrong.

Low spend on paper and postage

One of the advantages of electronic payment system is that it lowers costs for
papers and lowers the cut of trees. The more payments are processed electronically,
the less money and trees are spent on paper and postage.

Exclusive advantages of electronic payment system for businesses

Advantages of e-payment system for business owners

Electronic payment systems offer many advantages to everyone who supply products
or services, as well as the customer. Here is a list of exclusive advantages of
electronic payment system gained by business owners while using the system .This
app can also be used for business purpose. Integration is very easy by API and no fee
is involved.

Increased Sales
Electronic payment has become a successful alternative for traditional payment and it
is increasingly becoming the preferred payment option for customer when they want
to purchase goods or services. The number of people who carry cash and use it for
shopping has decreased all over the world.
So using e-payment system enables businesses and brands to make sales to the
customers who has moved to electronic payments while they are taking over those
customers that are still using traditional methods.

Using electronic payment system there would be no geographic or time limits, people
can access online website and purchase any kind of product or service from anywhere
and at any time. They do not need to wait in line to buy products or services instead
they will use an electronic payment system. This would increase efficiency and
encourage consumers to buy from your business more often.

Last minute deals

Increase your business deals with e-payment

Last minute deals are considerable in using of electronic payment system. It happens
when business owners throw cost-saving deals to encourage more customers. With
electronic payment service on the site, a customer can grab a deal even at the last
minute and this would cause sale increasing.

Ease of adding electronic payment service

You don’t need any special knowledge or experience to add payments to your website
if you own a brand or business. Even a non-technical person may implement it in
minutes and start providing customers online payments and enjoy the advantages and
increased sale.Pay Utility bills, recharge your mobile and do online shopping using
this app.

Influences of electronic payment on costumers

An online payment method may influence customers to purchase items or services on
the website. Since the transaction is quick and easy, and it can be done via credit
cards, buyers are going to grab the deal in most cases. So an electronic payment
system can be very useful.Multiple cashback and rewards benefits.
 Credit Card Payments
With providing online payment services customers can use credit cards to make
payments, even though they don’t have money in their bank account. You can also
break down the payment into several payments if your product or service is
expensive. By this you will get the chance to increase your sale.

Instant Payment
If you use electronic payment system for selling items or services they are able to
make the payment in few minutes and on the other hand you will receive it as fast.

Save money
Electronic payment system work to significantly improve businesses and optimize
workflow while it can save your business a lot of money by reducing expenses spent
on time, work and papers. It also would prevent fraud and improve data accuracy so
that you would be able to make efficient financial decisions.

Now here are some of the main benefits and advantages of using Google Pay:

Major Bank Support

Google Pay is supported by all the 4 major banks in the US; namely, Citibank, Chase,
Bank of
America, and Wells Fargo.Mastercard, American Express, Discover and Visa also
support Google Pay. Moreover, through strategic partnerships, sites that support
Masterpass and Visa Checkout now also work with Google Pay.

Other banks and credit unions that support this app include the following: American
Express, Barclays, Capital One, Discover, PNC, D Bank, US Bank, and USAA.You
can check out all the participating banks here. There are hundreds of them.
 Fig 1.5.1: Mobile Banking App Integration

Google Pay makes it easier for users to add cards to the app. Thanks to their
integration system. They have partnered with several banking apps so that users will
be able to add their cards to the app by simply tapping a button. Fast and easy.

However, this banking app integration feature is only limited to a few participating
banks such as abank, Bank of New Zealand, USAA, Bank of America, and Discover.
Fig 1.5.2: In App online purchase

Google Pay is used primarily in stores. But you can also use it for making in-app
purchases. Some of the apps that support in-app and online purchases, at the moment,
include the following:

If you’re not sure if the app you’re using support in-app purchases via Google Pay,
don’t worry. A prompt for Google Pay will automatically appear if the app supports
the service.

Fig 1.5.3: Boarding Passes and Tickets

Avoid the hassle of fumbling through your bag or purse to search for your plane or
train tickets. Google Pay lets you store a digital ticket or boarding pass on your
phone.

There are 2 ways to store tickets or passes in Google Pay. First, select the “send ticket
to my phone option.” Second, select the same option through email. Once you have
stored your digital tickets or passes, you can easily access them by simply tapping the
Passes tab.

There are not that many companies that support this feature though. Some of
participating companies include Singapore Airlines, fortessgb, Eventbrite, Southwest,
and Ticketmaster.
Fig 1.5.4: Enhance Security

Google Pay provides layers upon layers of security to protect users from theft and
fraudulent transactions.

The app does not store your card’s number. It won’t appear on your device or in any
of the apps, websites or terminals you’ve transacted with. The cards also come with a
secure encryption technology designed to protect your confidential data from being
compromised.

If you’re worried that your account will be compromised when your phone gets lost,
you can always instantly lock access to your device or wipe clean any confidential
information by using the Android Device Manager. In case there’s a proven
unauthorized transaction, you’ll have zero liability.

Another concern is the accidental payment. Since you’ll be paying through a

contactless terminal, you’re worried that you might accidentally pay for another
customer’s purchases. This won’t likely happen because your device needs to be
within 4cm from the card reader in order for you to successfully purchase an item.

Moreover, you are required to enter your PIN at the POS terminal when the item you
purchase exceeds $100. Also, if you are worried that you will accidentally tap your
device twice, you will only be billed once. This is because each transaction has a
unique code.

Availability in Various Countries

As of this writing, you can use Google Pay in 29 countries for making in-app and
contactless purchases, provided that you’re using a compatible device and cards.
These are the countries that support Google Pay:
Australia Belgium Brazil Canada Chile

Croatia Czech Denmark Finland France

Republic
Germany Hong Kong India Ireland Italy

Japan New Zealand Norway Poland Russia

Singapore Slovakia Spain Sweden Switzerland

Taiwan Ukraine United Ar United United States

ab Kingdo
Emirate m
s
Table 1.5.1: Countries

However, not all Google Pay features are available to all these countries. Some
features only work in selected places.

For instance, you can only use Google Pay’s bus and train ticket payment feature in
the US, UK, Ukraine, Canada, Australia, Russia, Singapore, and Japan. It’s also
important to note that it does not work with all transit systems.

The send money to friend’s feature is also only available in 3 countries: the US, UK,
and India.

1.6 Disadvantages of Using Google Pay

Google Play is fast, secure and widely accepted. When you’ve successfully used it
many times, you’d feel like not wanting to go back to card swiping or paying through
cash again. You’d be tempted to say, “why bring my wallet when I can easily use my
phone?”
But no matter how great Google Play is, it’s not without obvious flaws. The truth is,
you can’t rely on Google Pay all the time. There are times when you’d have no other
choice but to use your card or pay cash.

Like other mobile payment apps, Google Pay suffers from the following
disadvantages:

1. It’s not always accepted

Let’s face it. Not all stores who accept digital payments trust mobile payment. Some
store owners are still wary of it.

Google Pay is now widely accepted by major stores and retailers. But smaller
retailers likely won’t accept it. Even if the store uses an NFC POS terminal, it’s not
always a guarantee that it will accept Google Pay.

The store’s terminal is compatible with Google Pay, yes. But whether the owner or
the management will allow it is another story.

2. It’s not invincible

Despite the multilayers of security features that Google Pay has, it’s still not
invincible. You can’t say that you’re 100% safe and secure from any privacy
concerns.

It’s true that your actual card number or any of your personal information will not be
shared by Google Pay to anyone. They are kept safe and private. But a transaction
leaves a record, and such record is not totally safe from privacy intruders. Some users
even express concerns about hackers.

Again, it’s secure. But it’s not invincible.

3. Limited only to NFC technology

 The problem with Google Pay is that it only works on NFC technology. It does not
work on MST terminals. This means that you can only use this service at stores that
have NFC POS terminals.Also, not all phones can handle NFC payment. So aside
from the store, you also need to consider the device that you’re using.

4. All transactions are tied to your device

You can’t always rely on your device for payment. What if you need to buy
something really important but your phone or watch got lost and you didn’t bring
your cards with you? What if you’re suddenly out of luck and your battery dies right
before you can purchase the item?

With Google Pay, you’re too dependent on your device. Everything’s there. This is one
reason why you can’t always go card-free or cashless. It’s still safer if you’d bring your
wallet with you. Just in case.

Some more Disadvantages of online payments

Online payment methods have several disadvantages. Check out these examples:

• Service fees

Payment gateways and third-party payment processors charge service fees.

• Inconvenient for offline sales

Online payment methods are inconvenient for offline sales.

• Reliance on telecommunication infrastructure

Internet and server problems can disable online payment methods.

• Technical problems

Online payment methods can go down due to technical problems.

1.7 Procedure of downloading Google Pay:

A. For Android Users

 Open the play store and type Google Pay
Step 1:

Download the app

Step 2:

Enter your phone number

Step 3:

Sign in with your Google account

Step 4:

Follow the given instructions to secure your Google Pay app

Step 5:

Verify your phone number

Step 6:

Add your bank account

Step 7:

You are ready to use your Google pay app

Step 8:

Chart 1.7.1: Procedure for Android Users

B. For iPhone Users

Open the app store and type Google Play

Step 1:

Download the Google Pay app

Step 2:

Enter your phone number

Step 3:

Sign in with your Google account

Step 4:

Follow the given instructions to secure

your Google Pay app
Step 5:

Verify your phone number

Step 6:

Add your bank account

Step7:

You are ready to use Google pay app

Step 8:

Chart 1.7.2 Procedure for iPhone

1.8 Process of Receive an email with money
If you want to collect money via Gmail, you must first add a debit card to your
Google account to receive the transferred funds. Whenever someone sends you
money through Gmail, it’s automatically added to that card. To claim funds sent to
you for the first time, do the following:

Launch Gmail on your mobile

phone.

Open the message with the attached

funds.

Tap Transfer to bank and add the receiving debit card

and details.

Tap Claim
money.

1.9 Process of Request money via email

Launch Gmail on your mobile phone

In the bottom left, Tap the Compose icon

In rhe top right, Tap the Attach icon

Tap Request money at the bottom of the screen

Enter the amount

Tap Attach request

Add a note if you want

Tap Done

Tap Send
1.10 Process of Payment of bill through Google pay:

1. Open Google Pay.

From the bottom of the screen, slide up.

Tap New

Type in the name of a biller

From the search results, tap the name of the biller Make payment.

Select an account. Find out more about payment limits using Google Pay.

You'll see one of the following:

Pay a custom amount: Tap Make Payment
and Pay an available bill: On the bill, tap Pay
enter the amount that you’d like to pay. Bill.

Follow the instructions on the screen.

When done, view the bill to confirm that the payment was successful.

Chart 1.10.1: Bill Payment Process

1.11 Process to Recharge your mobile phone:
 Repeat a previous recharge: Under the
amount, tap Repeat recharge.
Pay a custom amount: Tap Search .
Enter the amount that you’d like to
recharge. This option might not be
available for all mobile operators.
Choose a plan: Tap a plan from the
options.

Chart 1.11.1: Recharge Payment Process

 CHAPTER 2

RESEARCH METHODOLOGY

2.1 OBJECTIVE OF RESEARCH:

1. To study the current scenario of online payments in Mumbai.

2. To study the working of Google pay.

3. To analyze residence perception about Google pay.

4. To know the consumer preference on which type of payment do they refer?

5. To understand the working of E-wallet.

6. To understand the satisfaction level of consumer.

7. To develop efficient solution to problem faced by retailer and consumer.

8. To suggest improvements made my Google pay.

9. To make awareness about the steps of payment.

10. To study the awareness of youth towards the Mobile wallets in Mumbai city.

11. To find out the preference of mobile wallets among youngsters.

12. To examine the perception of users towards the mobile wallet.

2.2 Hypotheses:

HO1: In this Current scenario online payments are safe

HA1: In this Current Scenario online payments are not safe

HO2: Google pay is the safest mode in online payment

HA2: Google Pay is not safe mode in online payment

HO3: Consumer has various preferences on which online payment are preferred

HA3 Consumer don’t have various preferences on which online payment are preferred

HO4: E-wallet is easy to understandable for the consumer to use

HA4: E-wallet is not easy to understandable for the consumer to use

HO5: About Online payment Consumer has satisfaction Level whichever mode they use

HA5: About Online payment Consumer don’t have satisfaction level whichever they use

HO6: Consumer and retailer have efficient solution to their problem faced by them

HA6: Consumer and retailer have no efficient solution to their problem faced by them

2.2 SCOPE OF THE RESEARCH

The geographical scope of study is limited to areas of Maharashtra division, which

includes – Mumbai area.

Scope of this project is limited for the residence of Mumbai.

Scope of the study is limited to retailers, consumers and invertors.

The project gives current position of the Mumbai area. The project highlights are

• Detail study on Google pay.

• Why people prefer to use Google pay?
• Why they don’t prefer Google pay?
2.3 LIMITATIONS OF THE STUDY
Sample size is too small, it will be difficult to find significant relationships from the
data.

Lack of reliability on the data collected.

Some respondents may have heisted to give relevant information or could have been
bias about some online payment option.

Another limitation to this study is it is assumed that customer has a bank account and
also he owes any online wallet.

It is also assume there are no fluctuations in the environment of this online payment
system.

Customer is a rational animal.

Study is restricted to Mumbai region only. This information may be inconsistent with
the other divisions of Mumbai.

Respondents may not have given honest suggestions related to this study.
 2.4 SOURCES OF DATA COLLECTION:
This research consists of two types of data –

1. Primary Data:

• Primary data that has been collected is taken for the recent research.
• The primary data for this research has been collected by the
questionnaire method.
• This questionnaire was made to determine the factor that how many of
them know Google pay and from them how many of them use Google
pay.
• Various Students / Businessman / Employees / Professionals were the
focus in filling of the questionnaire.

2. Secondary Data:

• I have used the research that was available on the internet to

gather information, to analysis that information and conclude it.
• This information has been collected from various sources to know
different types of online payment app,to know how Google pay is more
efficient than any other online payment app.

2.5 METHODS OF DATA COLLECTION

1. Questionnaire:

A questionnaire is a set of printed or written questions with a choice of answers,

devised for the purposes of a survey or statistical study.

It is based on three basic purpose:

• To collect the required data.
 • To gather the collected data for analysis.
• To make questionnaire based on the secondary data.

In this research there are set of questions and answers that can be easily
filled and less time is required to fill this questionnaire. This questionnaire
consists of close ended questions.

2. External Data:

The external data has been collected from the internet to gather
information.

2.6 DATA COLLECTION INSTRUMENT

In this data collection, I used “Questionnaire” as my instrument for the

collection of primary data.

The questionnaire contains both close ended questions and open-ended

questions.

The questionnaire has been attached in the project.

 CHAPTER 3

LITERATURE REVIEW

O'Mahonyet al., (1997), Loudon and Traver (2002), Guttmann 2003:Concluded

after their research that the lack of the fit-for purpose payment mechanisms and
infrastructure were the main restricting factors among many others that held back the
growth and evolution of e-commerce systems.

Doan (2014): He conducted a study to understand consumer adoption on mobile

wallets in Finland area. This research was designed in a quantitative method using
questionnaire which was sent to potential respondents in Finland. The study measures
the market condition of mobile wallets users.The study findings reveal that the usage
of mobile wallet is only in the initial stage and respondents are showing positive
attitudes towards usage of mobile wallets. Research concluded that the trust factor
reveals the positive or negative impact on adoption of user, depending on the user
satisfaction and user’s situation.

Govender &Sihlali (2014): They explored the factors determine the adoption of
mobile banking services among students who are more technically knowledgeable.
The questionnaire is prepared based on the qualitative approach. Based on the
extension of the Technology Acceptance Model, the theoretical framework is
developed to investigate the factors that determine student’s acceptance of mobile
banking.

The constructs of TAM for mobile adoption such as Perceived Ease of Use, Perceived
usefulness, Perceived Value,Trust Intention to Use, and Usage Behavior were used.
The statistical tool multiple regression analysis was used to examine the influence of
independent variables on the dependent variable of intention to use m-banking. The
independent variables trust, perceived value, perceived ease of use and social
influence may account for 42% on the influence of dependent variable.

Cabanillas et.al., (2015):They have developed a model to examine user’s intention

to use mobile payment based on TAM andMobile Payments Technology Acceptance
Model. The study was investigated the moderator effect of the user’s age between the
subjective rules and the facility of use.

The survey has been conducted among the internet user. The analysis of data shows
that an internet user’s behavior is influenced by their intention to use new tools. The
study findings show that most of the younger mobile payment users are satisfied and
accepted the mobile technology tools when compared to older mobile users.This
study has indicated that older consumers are the stronger relationship between
facility to use and subjective rules. So, the mobile technology provider should give
more attention to older consumers to create knowledge about usable of new tools.

Meuthia (2015):The study has been investigated that empirically the experiences of
users’ satisfaction on e-money adoption in Indonesia. In this study the trust was
considered as an important factor for e-money adopt, and at the time of promotes the
system quality and participation. The data was collected from 117 e-money
respondents in Indonesia.

The result shows that users’ satisfaction is determined based on system quality and
participation of users. The research proposed that trust factors have high level
followed by the others stimulants variables. The study concluded that trust and
distrust were strongly influenced the level of users’ satisfaction on e-money adoption
in Indonesia.

Liu & Tai (2016): they have conducted a study in Vietnam to analyze the factors
influencing the consumer’s intention to use mobile payment services. The variables
considered for the study to determine consumer’s intention to use of mobile payment
services are mobility, mobile payment knowledge, convenience, compatibility, ease
of use, usefulness, risk, trust, and safety.
The two variables namely perceived ease to use and perceived usefulness was
extracted from the TAM model which was deemed as a suitable model to study
consumers’ response and behaviors when a new product is introduced. The data has
been collected from 604 respondents. The result shows that among the four external
variables compatibility has a strong influence on ease of use and perceived usefulness
is found to be a positive impact on the intention to use M-payment.

The study highlighted that trust and safety have no direct impact on usefulness but it
has a direct impact on the intention to use mobile payment. The study concluded that
in Vietnam young people have greater intention to use mobile payment services when
compared to older people and most of the consumers are not giving much importance
to risk.

Singh & Gupta (2016): They have conducted a study to identify various factors
influence on the adoption of mobile wallet payment among customers They
considered the various variables for the study are Convenience, Trust, Security, and
Adaptability which have an impact on the satisfaction of mobile wallet usage. The
study was conducted in the Kurali city, District of Punjab. Pearson's Correlation
Analysis was to investigate the relationship between the different basic variables of
the study. The study findings show that mobile wallets are considered as the futures
of cash.

Ahuja & Joshi (2018): Studied about the customer perception concerning Mobile
wallets. In this study they examined that the factors exploration technique is used to
classify the factors which influence customer opinion towards Mobile wallets. The
study has been conducted about the different types of mobile wallets in India. The
data is collected from both secondary data and primary data. The survey was
conducted among 139 mobile respondents in the telecommunication industry.
 CHAPTER 4

DATA ANALYSIS,
INTERPRETATION AND
PRESENTATION

Gender Distribution Table :

Gender Responds

Male 16
 Female 16

Total 32

Interpretation:

As we can denote from the above pie diagram that female contribution and male
contribution is equal and in total 32 responds are gathered together.

Age group Responds

Below 20 years 03
20 years to 40 years 29

40 years to 60 years 0
60 years and Above 0
 Total 32

Interpretation:

Here we can note that, people from age group from 20 years to 40 years has the total
majority among the total respondents.

Occupation Responds

Students 13

Self Employed 6

Jobs 12

Others 1
 Total 32

Interpretation:

Here we can conclude that majority belong to the undergraduate and post graduate
students in comparison with other given categories.
 Bank Account Responds

yes 31

No 1

Total 32

Interpretation:
Here we can conclude that majority people have an bank account.
 Google pay Account Responds

yes 29

No 3

Total 32

Interpretation:
As we have seen majority do has a bank account. Here the above pie chart shows in
that majority bank holders’ majority do use Google pay in their daily routines further
we will see how often do they use it in their daily routine and so on.
 Use of Google Pay Responds

Daily 19

Weekly 06

Monthly 0

Rarely 05

Never 02

Total 32

Interpretation:

Here we can conclude from the above diagram that majority respondents do use
Google pay in their daily lives but here we cannot neglect that a portion use google
pay sometimes and never too.
 Saved time or money Responds

Yes,both time & money 17

Yes, time only 13

Yes, money only 0

No 02

Total 32

Interpretation:

Here we can conclude from the above diagram that majority respondents do think
that google pay has helped them to save both time & money in daily transactions,
while some think only their time is saved & some think only their money but we
cannot neglect that a portion thinks that google pay does not help them save either
time or money.
 Delay in processing a payment Responds
with Google Pay
Yes 20

No 12

Total 32

Interpretation:

Here we can conclude from the above diagram that majority respondents do face
delay in processing a payment with google pay in comparison with other given
category.
 Bank Account Responds

yes 26

No 02

Maybe 04

Total 32

Interpretation:

In the above question we came to know majority respondents are satisfied with
google pay services in comparison with other given category.
 CHAPTER 5
CONCLUSION AND
SUGGESTIONS
5.1 CONCLUSION

Modern Online Payment has a lot of features that will help to handle various
situations and needs of the customers. With the advancement of science and
technology the needs and expectations of users also have increased
multifold.An evolutionary succession has been witnessed by payment methods
from cash to cheques, to credit cards and debit cards, and currently to electronic
commerce and mobile banking. In this paper, it has been studied that online
payment methods are increasingly being used for making daily online as well
as onsite purchases.

The issues associated with online payment as well as the adoption of electronic
commerce for making payments by customers has been discussed in this paper.
Furthermore, the advancements in technology supporting mobile transactions
and making them more convenient and transparent is developing trust among
customers who are becoming habitual of employing this mode of payment.

This change in the behavior of customers showing a transition from the

traditional to an advanced online mode of payment is apparent in retailing and
banking, and with nearly all available mobile devices. The statistics shown in
this study signify that the number of customers employing online mode of
payment and making online transactions are continuously growing, hinting at an
everlasting acceptance of online payment systems from academia as well as
industry.

However, the adoption and deployment of several rising technologies carry new
opportunities and challenges to the implementation and design of secure online
payment systems in the present day as well as in near future. This study
concludes that a better integration of online payment systems with the present
financial and telecommunication infrastructure is necessary for a propitious
future of this payment mode.

Furthermore, establishing a common standard for a variety of service providers,

improving the compatibility with a large number of customers, overcoming
privacy and security concerns and employing the latest technology could
facilitate expeditious adoption of online payment methods and expand the
market for such a mode of payment.

Future work may be directed towards the legalization of various factors

responsible for contributing in the efficacious adoption of online payment
systems all over the world.

Consumers’ knowledge about new mobile technology innovation is increasing

rapidly, and consumer’s perception is most important in the usage of mobile
wallet application in India. Consumers’ need has increased with advanced
technology. Consequently mobile wallets service providers are innovating new
technology from consumer’s point of view.
Therefore, people can adopt and use their mobile wallets for the payment
transaction, fund transfer, purchasing groceries and paying bills etc. The study
has discussed the trust is the main factor affecting users’ satisfaction directly
and it impacts on many users intention to adopt mobile wallets. The results
show that the trust has significantly positive impact on actual usage of mobile
wallets.
5.2 SUGGESTIONS:

🡺 Google pay should increase the amount that can be easily send to
another bank.

🡺 Google pay should connect every bank for the online payment.

🡺 Google pay should reduce the amount of failure.

🡺 When the amount fails in transaction, the amount should not get

deducted from bank account.

🡺 If the money gets deducted while transaction, the bank should

return the money as soon as possible.

🡺 While scratching the reward of Google pay it should not contain

“Better luck next time”.

🡺 Google pay should also enhance their security.

🡺 Google pay should also provide more rewards.

🡺 Google pay should come up with more offline wallet operation.

🡺 Google pay is very useful for digital wallet payment.

🡺 Google pay is very safe of online payment.

 CHAPTER 6
BIBLOGRAPHY AND
WEBLOGRAPHY

BIBLOGRAPHY

1. http://granthaalayah.com/Articles/
Vol5Iss5/11_IJRG17_A04_247. pdf

2. http://ijamtes.org/gallery/198-dec.pdf

3. https://shodhganga.inflibnet.ac.in/bitstream/10603/20869/11/11_c
hapter%202.pdf

4. https://support.google.com/pay/india/answer/9043724?hl=en-
GB&ref_topic=9119778

5. https://thesai.org/Downloads/Volume8No5/Paper_32-

A_Compendious_Study_of_Online_Payment_Systems.pdf

6. https://www.digitaltrends.com/mobile/what-is-google-pay/

7. https://www.ijser.org/researchpaper/CUSTOMER-PERCEPTION-

TOWARDS-MOBILEWALLETS-AMONG-YOUTH.pdf

8. https://www.indiatoday.in/information/story/how-to-use-google-

pay-step-by-step-guide1602564-2019-09-24

9. https://www.tandfonline.com/doi/full/10.1080/1331677X.2017.13
05798
10. https://www.tandfonline.com/doi/pay/10.1080/1331677X.2018.14
05791
 CHAPTER 7
ANNEXURE
1. What is your Gender?

• Male

• Female

2. What is your Age group?

• Below 20 years

• 20 years to 40 years

• 40 years to 60 years

• 60 years and Above

3. What is your Occupation?

• Student

• Self Employed

• Job

• Others

4. Which of the following Payment Methods would you be most likely to use?
Cash

Cheque

Debit Card
Credit Card
 Google pay
Other

5. Do you have a bank account?

• Yes

• No

6. Do you have Google Pay account?

• Yes

• No

7. How often do you use Google Pay?

• Very often

• Sometimes

• Rarely

• Never

8. Do you think that using Google Pay will increase the chances of
suffering from fraud or thief?

• Yes

• No

• Maybe

9. On average how frequently do you use Google pay?

• Never

• Several times in a day

• Few times in a week

• Once in a month

10. Do you think that using Google Pay app can offer you wider
range of banking services and payment options?

• Yes

• No

• Maybe

11. Since how long are you using Google Pay?

• Below 3 months

• 6 months

• 9 months

• 1 years

• 2 years

12. Is there any possibility of risk in using Google pay?

• Yes

• No

• Maybe

13. Is Google Pay comfortable and user friendly?

• Yes

• No

• Maybe

14. Do you find any other app useful than Google pay?

• Yes

• No

15. Are you satisfied with Google Pay?

• Yes

• No

• Maybe

16. Do you want any improvement in Google pay?