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Approved by A.I.C.T.E & Affiliated to APJ Abdul Kalam Technical

Plot no. 2, Knowledge Park #, Greater Noida, Uttar Pradesh



Submitted for
The partial fulfilment of the award of degree of Master of Business
Administration (MBA)


APJ Abdul Kalam Technical University, Lucknow


Mr. Abhishek Kumar





I hereby declare that this Project Report entitled A STUDY OF COMPETITOR


INDUSTRY at Bagittoday (INDIA TODAY GROUP), is a bonafied work done by

mefor the award of degree of Master of Business Administration, submitted to G.L.

Bajaj Institute of Technology & Management, Greater Noida. The results embodied

in this thesis have not been submitted to any other University or Institution for the award

of any degree/diploma certificate or published any time before.

Date: Shivani Pande
Place: (Roll no.:1519270044)

The successful accomplishment of this report is the outcome of contribution of a number

of people to whom I am grateful and thank them from the very deep of my heart. I would

like to convey sincere gratitude to my reverent mentor Mr.Abhishek Kumar, without

whose guidance and assistance this report would not have seen the light of day.

I would also like to express my gratitude to Ms. Juhi Chauhan for giving me an

opportunity to be a part of India Today Group,and Mr. Deepak for hissheer guidance

atevery step.

I am also thankful to all the employees who have contributed their knowledge in adding

to my experience and insights and have helped me understand the industry at its best.

Payment Gateway


IndiaMARTInterMESH Limited



This report covers the various aspects of payment gateway options available in India. It
provides an insight to the costing details along with the other concerned features.
An endeavour has been made to give the statistical and logical dimension to the research.
Meanwhile straight forward comparison has been shown to directly interpret the cost
differences. Going through the report, one will realize that an equal inclination has been
established towards the macro factors like security problems, integration issues, etc.

It is necessary to have an Indian Bank account for integration with any of the
Indian Payment Gateway vendors

It is necessary to have an registered Indian entity to open an Indian Bank account

Net Banking ECS, NEFT form a major chunk of online e-commerce

transactions in India

Operating through PayPal may not be a good option because of the latest news on
operational discrepancies developed between them and Reserve Bank of India
(RBI) and also they support only credit-cards which is a smaller chunk of the
online transaction in India

India as an e-commerce market offers two prominent ways to do the business - 2nd party
systems as followed by HDFC & ICICI and 3rd party systems followed by other
organizations like CCAvenue, Bill Junction, etc. A detailed analysis of each and every
payment gateway option has been obtained and presented to further equip the testimony.
With an aim to prove as assistance for evaluating the best alternative, we hope that this
report serves its purpose to its fullest extent.

Table of contents

S r. N o . Content Page No.


2 C O M PAN Y P R O F I L E 68

3 102






8 L I M I TATI O N S O F T H E S T U D Y 121

9 C O N C L U S I O N AN D R E C O M E N D ATI O N S 122




International economy is being increasingly electronized, with more and more

transactions occurring online and electronic payments increasing significantly to the

extent that they are surpassing paper-based payment instruments. In addition,

governments worldwide, particularly in India, are targeting electronic delivery of public

services and banking activities. Also, the Internet is being tapped for servicing the rural

populace due to significant cost benefits and the reach afforded. However, to facilitate

increasing volumes, security and efficiency are essential and so is the required

infrastructure. An Internet IndiaMart Payment Gateway is a critical infrastructural

component to ensure that such transactions occur without any hitches and in total security

over electronic networks. A Payment Gateway is the access point to the national banking

network. All online transactions must pass through a Payment Gateway to be processed.

In effect, Payment Gateways act as a bridge between the merchant's website and the

financial institutions that process the transaction.

What is a Payment Gateway?

Payment gateways authorize electronic credit card and ACH payments to provide

seamless payment processing for businesses. They can be thought of as similar to a POS

terminal found in many retail establishments. These gateways encrypt and store sensitive

data, including credit card numbers, ACH account numbers, AVV and CVV2 information.

This ensures that sensitive information is kept safe while a payment is processed. These

gateways are also responsible for transferring payment information to the customers

acquiring bank. Payment gateways reduce a business liability and ensure that payments

are processed securely.

Payment processing can be automated by having a secure software vendor communicate

with the payment gateway and the acquiring bank to ensure seamless payment

processing. k-eCommerceCredit Card Extension, a payment processing solution for

Microsoft Dynamics users, works with multiple gateways to ensure secure payment

processing. This PA-DSS certified solution makes it easy for a business to obtain PCI

Compliance and also supports token technology.

Basics of Payment Gateway

Payment gateways vs. Merchant account.
It is important to understand that payment gateways, just as POS terminals, are tools for

handling payment information. Just as the POS terminal is a part of each retail merchant

account, the payment gateway is an essential part of every IndiaMart merchant account.

Yet, the merchant account service goes beyond handling the information provided by the

cardholder. It enables a merchant to accept credit and debit cards, as well as other

payment methods, by connecting the merchants physical and / or virtual check-out tools

with a processing bank that acquires the transactions and funds the merchants account

the transaction amount, after subtracting the transactions processing costs. This whole

process, from the capturing of the information at the point of sale (whether physical or

virtual), to the settlement of the funds is what a merchant account service provides

How Does a Payment Gateway Work?

Payment Gateways are software and servers that transmit Transaction information to

Acquiring Banks and responses from Issuing Banks (such as whether a transaction is

approved or declined). Essentially, Payment Gateways facilitate communication within


Security is an integral component of all payment gateways, as sensitive data such as

Credit Card Numbers need to be protected from any fraudulent parties. The card

associations have created a set of rules and security standards which must be followed by

anyone with access to card information including gateways. This set of rules and security

standards is called the Payment Card Industry Data Security Standard (PCI-DSS or PCI).

Submitting an order is usually completed using HTTPS protocol, which securely

communicates personal information through the parties involved in the Transaction.

Many Payment Providers, such as 2Checkout, enable Merchants with added options

when a cardholder purchases a service or product. Aside from providing the ability for

real-time transactions, these providers can help to translate currencies between two

parties in different countries, as well as bridge language and payment methods. Payment

gateways usually charge those who use them a per transaction fee.

There are several steps that take place during the transaction process, which take only a

couple seconds. It all starts when a user submits a payment from a business website, ERP

or third party application

A user processes a payment.

k-eCommerce securely passes sensitive payment information to the gateway.

Gateway tokenizes sensitive info and sends it to the merchants acquiring bank.

Processor send an approved or declined response back to the payment gateway.

Payment gateway then pushes the response and token back to k-eCommerce tables.

Payment info is received and applied into ERP.

Payment Gateway Functions

Payment gateways also screen orders with a myriad of helpful tools. This screening

process filters out as much fraud as possible. Examples of gateway fraud detection tools


Delivery address verification

AVS checks

Computer finger printing technology,

Velocity pattern analysis

Identity morphing detection


Payment gateways even calculate tax amounts to authorize requests transmitted to

the processor.

Payment gateways fulfill a vital role in the ecommerce transaction process,

authorizing the payment between merchant and customer. Popular payment

gateways include PayPal/Braintree, Stripe, and Square.

Payment gateways facilitates the transfer of information between a payment portal

(such as a website, mobile phone or interactive voice response service) and the

Front End Processor or acquiring bank.

The payment gateways performs a variety of tasks to process the transaction.


Freeing up on precious resources viz, human capital and money, for investment in other

important areas

An efficient, homogenous payment mechanism in a country with vast number and kinds

of banks and customers

Reduced instances of security lapses and fraud

Emergence of new payment instruments

A single platform for a variety of payment needs, infrastructures and instruments

Ability to track transactions and maintain a record of the same, which is useful in

checking financial irregularities

Instant information flow enabling rapid decision making

Ability to keep pace with international payment systems and undertake transactions at a

global level, in a fraction of time required earlier

Decreased number of intermediaries and thereby reduced costs

Instantaneous authorisation and settlement, implying no risk of defaults and bounced


A more streamlined approach for government-related payments

Savings for the government and business for not needing to maintain an expensive

shop/office infrastructure

Emergence of a completely new line of service providers for developing web sites,

integration services, maintenance, etc.

Development of a payment infrastructure which can be scaled for future applications

and payment instruments

Easier to process exports

Benefits for the Common Man

Payment system within easy reach of customers, who can make payments from the

comfort of their homes

Ability to access multiple counters from one location

Reduced time for making transactions

Maximum security for transactions

Ultimate fallout could be reduced prices of goods and services due to lower number of

intermediaries and savings passed on by the merchant for not maintaining a shop


Lower prices could attract new consumers hitherto reluctant to let go of traditional

transaction modes, leading to a greater population of Internet-savvy people in India

Greater reach to the rural areas and interiors of a vast nation like India

Greater willingness of service providers to offer their products/services in rural areas

due to the cost benefit and infrastructure availability


It is always smart to work on the certain criteria for selecting the best among the available

options. In our extensive browsing session; we encountered one of such set, which is

given as following:

A quick guide to help you "Pick the Oranges from the Lemons"

Security and Risk Mitigation: There are several facets to security that a Payment

Gateway must take care of. Starting from physical and data center security (where the

Payment Gateway Servers are hosted), OS and Application security, Firewall and

Intrusion Detection Systems at the OS and Application layer, Database security, and

finally Transaction security. Ideally choose a Payment Gateway which offers you Fraud

Detection tools apart from just AVS and CVV2. RBI Notification on additional security

for credit-card transactions RBI has mandated additional authentication/validation for all

VISA and Master card transactions using Verified by Visa and MastercardSecureCode.

These are additional user intervention in the transaction authentication process.

Branding and Customisation: Associating with payment gateways which are known for

downtime, vulnerability and slow response can impact companys brand image and user

preference to use the platform. The level of customization the gateway offers to integrate

the payment feature within the website is also an importance aspect. Make sure to check

up on the feasibility of the integration process in detail, before you commit on your

Payment Gateway decision.

Transaction Features: There are various modes of Transaction that can be performed.

Auth-Capture, Sale mode, Reversal, Partial captures, Partial Reversals etc. It is important

that the Payment Gateway supports all the transaction modes. Various Business occasions

require a combination of one or more of these transaction modes.

Comprehensive Merchant Interface: The types of reports available, the interfaces

available for Searching transactions, Processing Captures and Refunds, requesting

withdrawals etc.

Technical capabilities and supported platforms: Many payment gateways support only

limited platforms for integration like PHP or JSP or ASP. So depending on your current

development platform, its recommended that the technical integration aspect is also

verified while choosing your vendor .

Hidden Costs: Most Providers will charge you these fees without disclosing them to you:

Chargeback fees, Reversal fees , Termination fees, Hidden setup charges, Non-Sufficient

Funds fees, Statement Fees (more for more services), Customer Support fees, Withdrawal


Withdrawals: While most Payment Gateways may maintain reserves for risk mitigation,

it is essential to estimate within how much time you will have access to your funds

Technical Support: Ensure that your Payment Gateway provides round the clock support

with well-staffed and trained Helpdesk so that you can provide 24x7 support to your

customers as well.


Currently, there are 2 types of payment gateway options available:

Merchant account through a major bank: ICICI and HDFC are some of the major banks which

provide this service. Low transactional but high Installation charges make them suitable for big

businesses but an expensive option for small ones.

Third party vendors: In this approach third parties open merchant accounts with various banks

and also accept credit cards, debit cards and cash cards. Major companies providing this service in

India are:

A broad categorization and comparison of the setup fees, transaction and other charges of different
payment gateways options available in India:

Transaction Annual
One Time Transaction Cost

Company Name costs(Credit Maintenance

Setup Fee* (Net banking)

/Debit Cards) Cost(AMC)*

CCAvenue 7,500/- 7% 4% 1,200/-

DirecPay 10,000/- 6% 6% 2,400/-

EBS 6,000/- 6% 6% 2,400/-

ICICI payment 30,000/- 3-5% - 10,000/-


HDFC payment 20,000/- 3-10% - 10,000/-



Note: All 3rd Party Payment Gateway vendors require the company to have a registered Indian entity
with an Indian bank account


Annual Transaction

Set Up fees Software Discount Rate
Type of (One time, Maintenance (TDR) TDR
Cost CashCards/
Scheme Non (ASMC)** MasterCard/ Net Banking

Refundable) (Payable in Visa/Diners/

April) Debitcards
40,000/-* 3,600/-* 3%* 5%* 4%*

25,000/-* 2,400/-* 5%* 5%* 4%*

7,500/-* 1,200/-* 7%* 7%* 4%*

Taxes as applicable will be levied on set up fees, ASMC and Transaction Discount Rate (TDR) charged
by CCAvenue.

Annual Software Maintenance Charge (ASMC) is charged on a per month basis payable in advance every
year in April. Merchants signing on after April need not pay the full ASMC fee. The ASMC fee will be
levied on pro-rata basis.


Account Type One Time Setup Fee AMC
Starter 6000 6.00 % 2400

Regular 12,000 5.00 % 2400

Silver 18,000 4.00 % 2400

Gold 24,000 3.75 % 2400

Platinum 30,000 3.25 % 2400

Note: Taxes(10.3%) extra on all pricing.


Transaction Annual
One Time Credit Cards Banks
costs(Credit Cost (Net Maintenance
Setup Fee supported Supported
/Debit Cards) banking) Cost(AMC)

Visa, Master Kotak, Yes
10,000 6% 6% 2400 Bank, UTI,
Citibank etc.

Note: Taxes (10.3%) extra on all pricing.


Particulars Amount (in Rs.)

System Integration Fee Rs.40000/- + Service Tax (ST)

All Net Banking Transactions 2.50% + ST

All Credit Card Transactions 2.50% + ST

All Cash Card Transactions 2.50% + ST

Annual Maintenance Fee (AMF) Rs.5000/-

Security Deposit- Refundable Rs.5000/-

Terms and Conditions

System Integration Fee : 100% along with the Merchant application form & KYC

Transaction charges will be debited from the Transaction Amount on upfront basis.

Security Deposit: As approved by the bank

Any new bank that will be integrated with BillJunction will be added to the existing list.


PayPal and other similar international payment gateways support payment only through credit-cards

which form a smaller chunk of the online transaction in India. They do not support transaction in Indian

Currency (INR) and thus have not been primarily adopted by many e-commerce portals operating in


Also, there is confusion and false image with PayPal transactions due to the recent operational

discrepancies developed between them and Reserve Bank of India (RBI). Link to RBI Notification

Reserve Bank of India has issued fresh notification on requirements for governing the processing and

settlement of export-related receipts facilitated by online payment gateways. So any balance in and all

future payments into users PayPal account may not be used to buy goods or services and must be

transferred to their respective bank account in India within seven days from the receipt of confirmation

from the buyer in respect of the goods or services. This might not affect international service providers.

But, going ahead with just PayPal, which supports only credit-cards, for online e-commerce transaction

in India is not recommended.


Requirements for setting up a Payment Gateway with 2nd party vendors (banks)
Company should be registered in India
Company should be doing revenues/transactions of more than Rs 50 Lac from last 2 consecutive years*
Company should be banking account with HDFC bank Ltd
An office set up in India having business activity in place.

Particulars Details

Rs 20000 + Service Tax

Setup Fees
(one time non-refundable)

All Master/VISA credit and debit cards and Net

Payment Options

Per transaction fee 3-10% + Service Tax

Annual Maintenance Charges Rs. 10000/- (recurring yearly)

Payment (credit to current account with HDFC) T+1 working days

* Fixed deposit could be applicable in case the company does not meet the requireme

How the payment gets processed

Typically all payment vendors offer varied payment cycle ranging from a week to a month and

have two primary payment options

Direct Pay through net banking

Payment through cheque

The transaction process when online payment is done by an user is as follows:

Visitor places the order on the website and it is sent to the merchant's web server in

encrypted format. This is usually done via SSL (Secure Socket Layer) encryption.

The transactions details are then forwarded to the concerned Payment Gateway.

The transaction information is then passed on to the merchants acquiring bank by the

Payment Gateway.

Merchants acquiring bank then forwards the transaction information to the issuing bank

(one that issued the credit card to the customer).

Then the card issuing bank sends a response back to the Payment Gateway. The response

includes information that whether the payment has been approved or declined. In case of

declination the reason is also sent in the response.

The response is then forwarded by the Payment Gateway to the merchant's server.

At merchants server the response is encrypted again and is relayed back to the customer.

This allows the customer to know that whether the order has been placed successfully or


The entire process typically takes less than 5 seconds. At the end of the bank day (or

settlement period), the acquiring bank (or card issuing bank) deposits the total of the

approved funds in to the merchant's nominated account.


IndiaMart uses number of gateways for their clients to make online payment. These gateways
have different rates depending upon the mode of payment. These gateways include
CC Avenue,
PayU Hello travel agent

CCAvenue is a Commerce Service Provider, authorized as a Master Merchant, by Indian
financial institutions, to appoint Sub Merchants, to accept and validate Internet payments via
Credit Card, and Net banking facilities from the Sub Merchant's (your) customers in real-time.
We provide a secure link between your website, various Credit Card issuing institutions,
acquiring Banks and the payment gateway providers. Please Note: At present, CCAvenue offers
these payment services, exclusively for websites owned by Indian entities only.

CCAvenue is South Asias largest payment gateway solution powering thousands of eMerchants

with real time, multi-currency, multiple payment options online payment processing services.

The solution is powered by proprietary technology that integrates transaction-processing,

advance shopping cart, auction payment collection facility, fraud control, financial reporting and

order tracking. CCAvenue is the only complete PG solution in the region that has the unique

ability to offer the full spectrum of Internet payment options, including:-

All types of Credit Card processing through Multiple Banks and Card Associations

Debit Card processing

ATM cum Debit Card processing

Direct Debit to bank accounts of 30+ Indian Banks, 20+ Chinese Banks and 3 Singapore Banks

Mobile Payment Solutions via PayMate, SBI Freedom

Cash Card Processing of ITZ Cash , Done Card, OxiCash and NoQ24x7


Services :-

Pricing :-

Partners :-


Citrus makes digital payments and online checkout processes simpler, faster, safer and easier for

an 800 million strong electronically connected user base.

Citrus consists of people with the passion and experience to change the world of consumer

payments in India. We aim to create a company that puts the consumer and their needs in the

centre of everything we do. Our collective backgrounds are from the worlds of technology, user

experience, payments, and banking. We have worked across the world in companies like Apple,

First Data, ICICI Bank, Cisco, and Yahoo.

Citrus is one of the top 3 payment gateway companies in India and the feat is worthy to be

applauded, since it is only a 3 year old venture. Started by Satyen Kothari and Jitendra Gupta,
their aim was to simplify online payment and make it quick & effective while following all

safety protocols. Right from Emirates, Etihad, Airtel, Bagskart, Meru, Zivame, Esselworld,

Kaya, PVR Cinemas, Healthkart, they all use Citrus Pay. They offer 3 packages, monthly charges

for which are Rs. 7000 for Easy Starter, Rs. 10000 for Level Up, and Rs. 15000 for Power


The most common components of an individuals wallet are some form of identity, some cash,
all credit/debit cards issued by banks and any vouchers or loyalty coupons issued by their
favourite businesses. Citrus Wallet is the digital representation of the individuals wallet. Just like
its physical incarnation, the digital representation of the wallet also has cash, cards, loyalty
coupons & identity information. The diagram below shows the current components that are part
of this fat Citrus Wallet for every individual who becomes a consumer of Citrus under the terms
available here.
Despite the plethora of payment options available currently or more options that will be added in
the fatter Citrus Wallet in the future, the wallet provides a unified interface for businesses to
build use cases on both spending money and crediting money to the wallet.


PayUbiz (B2B) is a payment gateway aggregator with focus on building core technology stack. It

caters to enterprise grade merchants and serves 80 out of top 100 IndiaMart companies. It is

technologically superior platform to collect payments online and has easy to integrate web API's

and Mobile SDK for both android and iOS. It also has 12% increased conversion rates in terms

of transaction success rates which directly impacts top-line of merchants positively.

Pay U is one of top payment gateway aggregator from Nespers Group and have few of the top

features and hence one of the best payment gateway provider in India, The best features about

payu is they try to reduce the bounce rates and to maintain the volume of success full payments

and they have some benefits of collecting card data on your own page using Iframes this reduces

your customer bounces rates down to zero.

We are payment gateway aggregator who offer electronic payment services to merchant website

through its partnerships with various banks and payment instrument companies.

With us, customers can pay through various options like Credit cards, Debit cards, Net banking,

EMI,CashCards,Email Invoicing, IVR, Cash on Delivery(COD)

PayU Merchant Dashboard- A one stop shop for merchant activities

We offer an online interface (known as PayU merchant Dashboard) where merchant has access to

various features like viewing all the transaction details, extracting settlement reports &analytical

reports, analysing success ratio and many more. Through this interface, the merchant can also

execute actions like capturing, cancelling and refunding the transactions.

PayU or PayUMoney is a leading online payment service provider in India, providing a wide

range of payment options, including credit cards, bank transfer.PayU or PayUMoney is the

fastest growing payment system in India! PayU or PayUMoney focuses on flexible, effective and

user friendly payment solutions for extreme competitive prices. Payment types accepted by the

PayU or PayUMoney payment gateway: Credit Cards Debit Cards Net Banking.

We have 5+ years of experience in PayU or PayUMoney Payment Gateway Implementation

services and developed many PayU or PayUMoney Payment Gateway integration based

website/online stores for our Clients in Indian Online marketplace.

PayU Payment process flow :-

PayU is an aggregator. Payment gateway provider to merchants to facilitate and help them in

processing their transactions through acquiring banks.Whereas PayU money is a wallet from

PayU. You can use your cards or nsavings account to find your wallet and use that when you are

transacting online.

The best features about payu is they try to reduce the bounce rates and to maintain the volume of

success full payments and they have some benefits of collecting card data on your own page

using Iframes this reduces your customer bounces rates down to zero.

PayU or PayUMoney focuses on flexible, effective and user friendly payment solutions for

extreme competitive prices. Payment types accepted by the PayU or PayUMoney payment

gateway: Credit Cards Debit Cards Net Banking.


As India enters into a nascent phase of cashless payments, startups in the payment solution

domain have recently been a focal point for investors. As a result, Innoviti, an online payment

solution provider has raised $5 Million in fresh funding from Catamaran Ventures, a private

investment firm of Narayan Murthy along with Canada-based New India Investment


This money will be used in companys plan for expanding the business of real-time credit

distribution to small and medium enterprises. It is also planning to spend money on marketing,

product development and enhancement of infrastructure.

Founded in 2002 by Rajeev Agrawal, Innoviti aspires to transform payments. It provides

solutions for improving operational efficiency and enhancing customer experience in every

payment transaction.

In January 2014, it raised Rs. 10 crore in debt and equity from a group of local and international

angel investors and Tata Capital. Of the 10 crore, Rs. 6 crore was raised from angel investors and
Rs. 4 crore was loaned from Tata Capital. In 2007, Titan Industries purchased 5% stake in the


Its platform assists banks, NBFCs and other financial institutions to reduce the cost of loan

distribution and reduce the risk of lending. Through its uniPay platform, it enables consumers to

make payments through EMIs on credit and debit cards.

The company claims to process over Rs. 8,000 crore worth of payment transactions and also

claims to distribute over Rs. 400 crore of loans to more than 10,000 SMEs across 20 cities on an

annual basis.

The client list of the company includes HDFC, ICICI, Axis, SBI, Standard Chartered, Kotak,

Citibank, Bajaj Financ, Reliance, Titan, Indigo, Yatra, Walmart, Sikkim Manipal University, etc.


E-Billing Solutions (EBS) established in the year 2005 is headquartered in Mumbai. It facilitates

online purchases from a merchants website and helps them to collect payment from the end

customers through net banking, credit and debit cards etc. It is an intermediary that assembles the

online payment options offered by various banks, cash card brands and many other payment

processors onto a single platform with minimum technical integration with merchant website.

EBS, is the first Indian merchant account provider to achieve the PCI DSS 3.0 standards of

compliance. It is also certified by security and process adherence followed and audited by ISO

27001- 2013 standard. This achievement makes EBS one of the most secured online service

providers in the world.

EBS, now is a fully owned subsidiary of Ingenico Group. With its acquisition by Ingenious, a

global leader in seamless payment, EBS has now access to world class product and solutions to

augment its existing services.

We are an organization with a vision that believes in consistent quality and service excellence.

EBS is looking for high caliber, enthusiastic people who have the passion to achieve and the

determination to succeed. We offer a supportive, stimulating and dynamic work environment that

values People First policies and focuses on professional growth. EBS specializes in aligning

people to roles based on individual talents and leadership qualities. Our perfect synergy of

opportunities and benefits will motivate you to pursue your career goals in real earnest and

reach for the sky.

We are an equal opportunity company and you will be working with our global partners & be a

part of our diverse workforce. At EBS, we nurture our people & their talents and offer our team

members ample opportunities for learning and creativity, growth and leadership. Because, you

are one of our greatest assets to assure us in realizing our goals, lead from the front and stay

ahead of competition.

We are looking for you

If you are an expert in your field

Willing to work smart and meet deadlines

Eager to learn

Ready to take lots of initiative

A good team player with excellent communication skills


PayPal Holdings, Inc. is an American company operating a worldwide online payments

system. Online money transfers serve as electronic alternatives to traditional paper methods

like checks and money orders. PayPal is one of the world's largest Internet payment

companies. The company operates as a payment processor for online vendors, auction sites and

other commercial users, for which it charges a fee.

In 2014, PayPal moved $228 billion in 26 currencies across more than 190 nations, generating a

total revenue of $7.9 billion (44% of eBays total profits). The same year, eBay announced plans

to spin-off PayPal into an independent company by mid-2015 and this was completed on July 18,

2015. On July 20, 2015, PayPal had its second IPO that valued the company at $46.6 billion.



71 is India's largest online B2B marketplace for Small & Medium Size Businesses,

connecting global buyers with suppliers. The company offers a platform & tools to over 1

million suppliers to generate business leads from over 5 million buyers, who use the platform to

find reliable & competitive suppliers. The company has over 4000 employees located across 75

offices in the country. offers products that enable small & medium size businesses generate

business leads (online catalogs/store-fronts), establish their credibility (third party

verified trust profile) and use business information (finance, news, trade shows, tenders) has won numerous awards over the years, which include coveted Red

Herring Award, Emerging India Award, among others. The company has also been widely

covered by media for its pioneering role in promoting SME business in the country.

Its existing investors include Intel Capital and Bennett, Coleman & Co. Ltd (Times

Group), India's largest print media group.

IndiaMART Knowledge Services: An in-house unit involved in SME research,

forecasting, analysis and education. It conducts independent surveys, etc. & holds

workshops for SMEs to educate them on specific areas such as Marketing, IT, etc.

The Board of Directors


Dinesh Agarwal is the founder and CEO of, India's

largest online B2B marketplace connecting Indian suppliers with domestic and

international buyers. Founded in 1996, Dinesh is credited with leading through a decade and a half with an unblemished record of being profitable

from d ay one - a feat no other online company in India has been able to emulate.



Brijesh Agrawal is the Chief Operating Officer,

Being a part of the core management team, Brijesh has been the brainchild

behind the creation of a plethora of innovative products of IndiaMART.


Head/ Work Office

IndiaMARTInterMESH Ltd.
7th& 8thFloor, Advant-Navis Business Park, Plot No-7, Sector-142, Noida, Uttar Pradesh, Pin
201 305, India
Phone: +91 120 6777800, Fax: +91 0120 3916601

Registered Office:
1st Floor, 29-Daryaganj, Netaji Subash Marg, Delhi 110002.

Core values

For us they are simple and straight; take responsibility, work with passion and commitment,

move ahead as a team and conserve the integrity.We firmly believe that core values keep

organizations stable and focused to the common goal. Our core values have helped us achieve

our mission to bring measurable benefits to our customers.

Responsibility, not just of quality work but of continuous self-

development, of our decisions and of our actions. This helps us

think rationally and provides a sense of accountability to ourselves, our

commitment to customers and to our colleagues.


Work at involves constant innovation and creativity. It

involves a continuous thought process to get tangible benefits to our

customers, taking into account the uniqueness of their purpose. Passionate

people with a determination to make the difference are the ones who make this possible.

Team Work

Together we can achieve the impossible" is our belief. Our success is a

result of our team work. Experts from the field of

management, marketing, IT, arts, content & various other

disciplines work as a team on every project, every endeavour. Dedication, passion

and teamwork are the true means to our mission fulfillment.


We realize the importance of the job & information we handle. We

understand the responsibility that each member of our team has to

shoulder and we do that with highest levels of trust, honesty and integrity -

of purpose and action.

Awards & Achievements
Success of our customers is our greatest achievement. Their confidence in us and our
innovation, to give them the best, has got us applauds from various sources. wins the Red Herring 100 Asia Awards 2008 nominated among the top three at Emerging India Awards

2008's successful business model featured on CNBC India as analyzed by


Bestowed with "Amity Corporate Excellence Award" on the occasion of the Tenth
Business International Horizon INBUSH 2008

Recognized by Business Money (UK's leading financial magazine) for IndiaMART's

ten years of successful contribution to Indian businesses

Declared as India's only profit-making dotcom company by Business World (Cover


Special footage for's contribution in enabling e-business for exporters

from Moradabad; Mr Dinesh Agarwal interviewed (India Tomorrow - BBC News) bags eighth "BIG" Award from nominated for Britannica Internet Guide (BIG) Awards for

excellence on Internet listed among Top Indian Websites under Business-to-Business

category by Ecomready Top Indian Site by

Termed as 'Online Gateway to Indian marketplace'- The Economic Times

Best Travel Site- by India Online: DD News

Site of the day - by Zee News

Listed in the Top Indian IT organisations survey by Dataquest

Nominated amongst the Top 5 Indian Sites by Microsoft.


IndiaMartis the first Indian company in their domain to have received ISO9001:2008

certification for overall quality management and the organisation'sability to successfully "meet

customer, regulatory and statutory requirements."


we are committed to provide high quality web services & solutions that ensure profitable
returns to our customers.

We strive to enhance the value delivered to our clients by continually improving the quality of
services offered.

Fact Sheet

1996-97, India's first online B2B directory, launched

Successfully introduces free listing & free-query forwarding concept to familiarize Indian
SMEs with benefits of Internet for business promotion

Accomplishes India's first IndiaMart project for Nirula's (

Achieves break-even within 6 months of the launch


Successfully crosses 100 clients mark

Initiates franchisee network program


Launches Handicraft, Apparel & Finance channels

Increases workforce to 40

B2B marketplace network surges to 1 million page views/month mark


Accomplishes 'Bharat On Line' - MTNL's online portal project

Launches auto industry channel

Opens branch office in financial hub of India - Mumbai

Crosses Rs 1 crore revenue mark


Touches 5 million page views/month

Crosses 1000 clients mark

Registers 100,000 business queries/month

Accomplishes prestigious online projects for HHEC, Jindal Organization, ModiCorp

Wins Britannica (BIG) Award for

Profits increased by 128% over last year

Company becoming limited, from InterMESH Systems, to IndiaMARTInterMESH



Business World magazine declares as "the only profitable Indian

Dotcom, with positive cash flows" [Cover Story: 14 May 2001 issue]

Adds exclusive services to its portfolio - Electronic Trade Offers & Request for
Quotation / Request for Proposal

CNBC India recognizes as one of the only profitable dotcoms in India
based on report by McKinsey


Moves operations to state-of-the-art NOIDA development center


Crosses 200,000 business queries mark with 12 million page views


Launches TrustSEAL to bridge the trust gap in B2B trade

Crosses 3000 clients mark

Touches 26 million page views per month, generating more than 300,000 business


Becomes first ISO 9001:2000 company in its domain

Surpasses 8000 clients mark

2005-06 completed ten successful years (1996-2006)

Crossed 10,000 clients mark

Launches MDC, a four-page online catalog for clients

Implements corporate-wide WEBERP

Acquires new office at B-6, Sec 8, NOIDA


BCCL (Times of India Group) makes strategic investment in

Launches new Templated Product Catalogs


Launches IndiaMART Sourcing Guide

Commences International Trade Fair Participation initiative

Wins 'Amity Corporate Excellence Award 2008'

Wins 'Shiromani YojanaPuraskar' award

5,00,000 members registered on


Intel Capital makes strategic investment in

Wins 'Emerging India Award 2008' as a second runner-up

Wins 'Red Herring 100 Asia 2008' award

Launches Video Profiles for "Leading Suppliers" footprints cover over 100 towns in India

Participates in more than 100 international & 200 domestic trade shows


IAMAI declares as India's largest online B2B marketplace

Mr. Deep Kalra (Founder & CEO of & Dr. NachiketMor (President,
ICICI Foundation) join Board of Directors

More than 300,000 products listed on


Takes a giant leap in SME space & launches 'IndiaMART Leaders of Tomorrow Awards' member base surges to 1 million suppliers

Celebrates 14 years of grand success

Launches FREE tenders service - a first in India

Being a socially responsible corporate, associates with "Meri Dilli Meri Yamuna"

The SmartTechie ranks among India's '25 Most Promising Internet Cos.'


Completes 15 years of empowering SMEs growth & success

Successfully completes 2nd edition of IndiaMART leaders of Tomorrow Awards

launched in 2010

Launches Emerging Business Forum for SMEs


Successfully completes 3rd edition of IndiaMART Leaders of Tomorrow 2012

Registers an increase in the supplier base to 1.2 million and in buyer base to 6.5 million

Launches new product Maximiser


Launches Android App and Mobile Site

Wins Manthan Award for its Buy Leads service under E-Business & Financial Inclusion


Signs actor Irrfan Khan as the brand-ambassador

Launches first TVC

Approx. 80,000 paid customers

INR 173 Crore of revenue

Launches App for Windows & iOS

Case studies published on Harvard Business Review


Crosses 1,00,000 paid customers

INR 300 Crore revenue

Raises Series C funding led by Amadeus Capital


Dynamic Catalog
A comprehensive online marketing program that provides enhanced enquiry generation.

Trust Seal

Trust Seal is a business verification service that checks supplier's records of existence,
credibility and trustworthiness for the benefit of buyers.

Star Supplier
With Star Supplier to your support, you can get premium positioning among suppliers in all the

relevant categories.

Leading Supplier

Leading Supplier is the right choice for companies who have a right mix of infrastructure,
management capabilities and experience in servicing global buyers.

Banner Advertising

Build your brand & drive traffic to your website with Banner Advertising

Business Plans

What is business?

Business is all about buying and selling of Product or services. Business can be done

throughonline and off line.

What is online Business?

Online business means trading of Products and Services etc through theInternet. It enables the

traders and manufacturers to electronically connect with the other.

What is offline business?

In offline trading the customer either goes to the manufacturers or traders place and sits before

him to place orders. Or rings him, asks for the quotations and other relevant information, and

accordingly places orders over the phone.

Benefits of Offline Business

o safer in comparisons to online share business.

o Business can be done without internet connectivity at ones home.

o Better for new comers

Disadvantages of Offline Business

o Often times the brokers takes time to execute your instruction.

o Offline trading brokerage is always higher than that of online brokerage.

o It is a time consuming process as everything is done offline. Trading takes more time in
comparisons to online trading.

o RM may not provide the correct information as required by his client

What is E-Business?

E-tailing, or virtual storefronts on Web sites.

Online business-to-business transactions.

Electronic data interchange (EDI), the business-to-business exchange of data

using compatible software.

E-mail, instant messaging, and other Web-enabled communication tools and their
use as media for reaching prospective and existing customers.

The gathering and use of demographic, product, and other information through
Web contacts.

Capabilities and Benefits of E-Business

Global Reach : Goods and services can be sold to customers worldwide.

Personalization : Companies can customize products and reduce inventory.

Interactivity : Customers and suppliers can negotiate prices online.

Right-time and integrated marketing : Online retailers provide products when and

Customers want them and promotions can be directed to individual customers.

Cost savings : E-business can reduce costs.

Increase a firms visibility, promote its offerings, and provide information to interested

Build customer goodwill and assist retailers and other resellers in their marketing efforts.

Disseminate financial information to investors.

Enable prospective employees to apply online for jobs.

Provide e-mail communication.

Business-to-Business (B2B)

Business-to-business e-business (B2B) Electronic business transactions between
businesses using the Internet.

B2B transactions total $2.5 trillion.

By some estimates, account for 90% of all IndiaMart activities.

Can reduce cost of B2B transactions by almost 25 percent.

Many of the benefits of IndiaMart have come with business-to-business transactions.

Companies like UPS and the Post Office use their websites to save money and time by doing

business online. Companies use a variety of tools to conduct business online with partners,

wholesalers and retailers.


Shopping and


for 4% of all U.S.

Growing at a
rate of 18%.

Services like
banking and brokerage are key aspects of e-tailing

Many retailers have electronic storefronts.

Growth of broadband is aiding e-tailing.

Selling to customers directly over the Internet.

There are millions of good for sale online. There are as variety of retail stores that make the
Internet one big cybermall.

Who are online buyers and sellers?

Typical user is young, highly educated, urban or suburban, and affluent. Demographics

are shifting; there is decreasing difference in Internet purchasing habits among groups.

Benefits of B2C E-Business

Lower Prices
Many products cost less online.
Internet allows customers to easily compare prices from multiple sellers convenience.
Can order products from around the world anytime, day or night.
Can register customer information to streamline transactions.
Emphasis on personalized, one-on-one marketing to increase repeat purchases.

Developing Safe Online Payment Systems

Through encryption, data is encoded for security purposes.

Many companies use Secure Sockets Layer (SSL) technology to encrypt information and
senders and receivers.
An electronic wallet contains credit card and identification information. Customers can
retyping purchase information.

E-Business Challenges (privacy)

Privacy is among the top concerns of Internet users.

E-business sites often require passwords and use electronic signatures, an electronic form
of identity verification.

Companies can track customers shopping and viewing habits through cookies.

Customers usually prefer that companies do not share their personal information.
Merchants have responded by joining privacy organizations.

Privacy protections may soon become legally required.

Employees also have concerns that employers are monitoring their Internet behavior.

Companies worry about data theft.

In addition to credit card transactions online, privacy is a growing concern for consumers.
Consumers worry that the information about them will be available to others without their
permission. Although online shopping is growing, consumers are very concerned about
providing credit cards and personal information online.
E-Business Challenges (Internet Fraud)

Internet Crime Complaint Center logs more than 200,000 complaints annually.

50% of the complaints referred to law enforcement agencies deal with online auctions.

Phishing is a growing form of Internet fraud that uses e-mail or pop-up messages to get
unsuspecting victims to disclose personal information.

Vishing, or voice phishing, involves phone calls to credit card customers to obtain
personal and banking information.

Payment fraud is growing E-Business Challenges (poor website design)

50% of shopping carts are abandoned before any purchase is made.

Lack of Information

Inability to find the information they need

Feeling overwhelmed by too much information

Companies that have brick-and-mortar experience often have better success satisfying
customers than Internet-only retailers.

Online sales can compete with business partners such as retailers and distributors causing
disputes called channel conflict.

Using the Webs Communication Function

Web has four main functions: e-business, entertainment, information, and


Communication is Webs most popular function.

Firms use e-mail to communicate with customers, suppliers, and other partners.

Online Communities: Internet forums, newsgroups, electronic bulletin boards, and Web
communities that appeal to people who share common interests.

Spam is junk e-mai

Why B2B Marketplaces?

Largest aggregation of B2B Buyers - more than 30% of these are here
Hassle free way to generate business leads fully managed
Try for free Pay for premium
Do it all, right from your desktop

Free Services

Business / ProductCatalog Unlimited Products

Trade Leads
Business Tenders
Enquiry Alerts on SMS / Call from Buyers on Mobile
Industry, Trade Shows & Business Information Updates
The first step towards internet marketing & lead generation
Unlimited Products photos & videos
Higher the no. of products, higher the no. of leads
200,000 Indian companies having 2 million products, already have their catalog on alone.

Business / Product Catalog

The easiest way to generate 1 lead every week

Post unlimited product specific offers with picture
Importance of push-to-top 10 times better results
More than half-a-million offers live on alone

SWOT analysis of


The most powerful point in hand of the company is that they provide the customized
solution to the customers.

The company has excellent distribution system.

The company has built a strong image among the customers.

The company experiences excellent Brand loyalty for its Products from the customers.

The company has made its Product range attractive, which lures the customers, and

Some products have high prices as compared to the other products.

The company pays less attention towards the matured clients

India has a vast potential market, which the company can get hold up.

The company can prove to be major threats for its competitors if it increases marketing

IIL should concentrate on the premium segment market.

The major threat that company faces is from its competitors who are introducing products
with lower cost backed by aggressive promotional schemes to attract the customer.

The arrival of the MNC is a major serious threat for the company.


The Empowered Internet Payment Gateway by Ved Prakash Gulati and Shilpa
All online transactions must pass through a Payment Gateway to be processed. In effect,

Payment Gateways act as a bridge between the merchant's website and the

financial institutions that process the transaction. Internetpayment gateway is gate for

making online transaction possible.By using payment gateway, transactions perform

faster than old system. It is more secure as payment gateway proves secure tunnel to do

payment.Payment gateway acts as the mediator between user bank and merchant bank.

Also do verification of their details and make appropriate message to send information.

Different payment systems are developing as internet based so it becomes more faster

than manual system.For every transaction it need to create tunnel so it takes more time to

process, so better to use National Internet E-Commerce Payment Gateway, which will act

as an integrated payment service.Main components which are involved during online


Secure Payment System for Electronic TransactionByAjeet Singh, Karan Singh,

Shahazad, M.H Khan, Manik Chandra

E-payments services area convenient and efficient way to do financial transactions.

Internet is not secure media. Customers can purchase online through different methods

such as, Electronic Fund Transfer (EFT), Credit cards, Debit cards, etc.

Here we are talk about the only payment is made by the means of a credit card/ Debit card,

and the goods need to be shipped physically .A payment gateway facilitates the transfer

of information between a payment and the Front End Processor or acquiring bank.There

has been a requirement for a simple, safe, reliable and effective online payment system.

This necessity is fulfilled with the inception of different payment systems.

For security and safety there is a SET or the Secure Electronic Transaction. The SET

uses the unique encryption technique for the information gained between the customers

and the merchant.Transaction entities assume the existence of three participants a

customer(the payer), a merchant (the payee) and a financial institution (e.g. a bank).At the

time of purchase, all entities have to share some information. If they share information in

simple text, there is a chance of leaking information. The attacker can obtain important

information from the channel, and can able use

that information. In e-payment, each and every transaction is recorded on server. When an

e-payment does, server uploads these entries for audit.Secure electronic payment system

uses different cryptographic algorithms andtechniques to achieve :privacy, integrity,

authentication and non-repudiation .

Types of payments are:

1. Online payment: in which vendor checks the payment send by purchaser with a

bank before serving the purchaser.

2 .Offline payment: in which over spending must be detected, and consequently, no

online link to the bank is needed.

Payment Processing Systems and Security for E-Commerce: A Literature Review

By Ms.Vaishnavi.JDeshmukh, Sapna.S.Kaushik, Mr. Amit.M.Tayade

Electronic commerce is the business that is doing through internet. There is no need to go in

shop and buy particulars, it is just make online. E-commerce is the easy way for making

online business.The way of e-commerce makes transaction reliable and faster with low cost.E

payment and E-commerce are tightly coupled to each other as to pay for using online services.

Types of Electronic Payment System

The Secure Electronic Transaction (SET) protocol handles e-payments. Fraud prevention is

a mainmotivator for SET. That would seem to indicate that the current model of using SSL

toprotect transactions is adequate. SET has the potential to reduce the chance of fraud

by providing rigorous authentication measures in addition to encrypting transactions.

SET provides a higherprivacy for customers by encrypting payment information so that

only involved bank can able to see it. Customer sends a purchase request to the merchant

including unencrypted order information and a digitalsignature, intended for the merchant;

payment message and a digitalsignature, both encrypted and intended for the payment

gateway; for secure payment gateway.All parties require the ability to make or receive

payments whenever necessary. Payment transactions must be atomic

E-payment GatewayModelByAnuja Pande, Prof. A.B. Deshmukh, Prof.M. D.


Gateway is the secure channel for making online transaction. Shop from home

becomes more and more online transaction for paying value and many more things are

possible through electronic payment. For that purpose people wants some secure media for


There are five interfaces.

1. Customer Interface

2. Server (e-payment Gateway) Interface

3. User Bank Interface

4. Merchant Bank Interface

5. Merchant Interface

User interact electronic payment gateway by using internet. And that gateway associates with

Bank and verify details of account for whether user should able to purchase or not. There

are various ways to make transaction such by using debit card, by using credit card and so

on.All payment data are gained from merchant and will submit to gateway

Integration of CRM Systems with Payment GatewayByNiketaSinghal

There are many ways for communicating between customer and merchant. Whenever customer

place online order, CRM (Customer Relationship Management) comes into picture.For

online transaction customer wants reliable and secure payment gateway for placing the order.

: Flowof Payment Gateway:

Client place order and collect all order details, then after confirming all order form the

order. Final form application request send to merchant. And

get response from merchant if not authorized cancel it. If authorized then send it for further

process. Payment gateway comes into picture. Payment gatewayreceives all details of

user. Payment gateway will verify details of user. Debit appropriate amount

from users account. Transfer that amount to merchants account



To analyse various payment gateway services and solutions provided by Indiamart to its


To find out the problems faced by Indiamart related to payment gateway.

To learn about set of guidelines, measures, and controls developed by Indiamart to help

merchants implement strong security precautions to ensure safe credit card usage and

secure information storage.

To find out various modes of transactions performed by Indiamart.


The scope of the study is limited to India mart, which is place of global buyers with

global suppliers Its also prepares online catalog, trade leads and tender. After the

completion of the reports we will come to know the whole Payment Gateway process of

India mart and how India mart has become largest online B2B marketplace.


Provides information about India Mart to the companies ,how India Mart is dealing with

customer directly through online. It also Help to analysis operation of India Mart. The

report shall be helpful for the further in-depth study on the subject.


Research design :Descriptive research design

Sources of Data : Primary andSecondary data

Sampling technique : Convenience sampling

Universe : Noida

Sample size : 40

Sample duration : 2 months

Research is the systematic & objective identification, collection, analysis, dissemination & use of

information for the purpose of improving decision making related to the identification & solution

of problems & opportunities in Marketing.

A research process consists of stages or steps that guide the project from its conception

through the final analysis, recommendations and ultimate actions. The research process provides

a systematic, planned approach to the research project and ensures the all aspects of at the

research project are consistent with each other. Research studies evolve through a series of steps,

each representing the answer to a key question.

Research design is a conceptual structure within which research was conducted. A research

design is the detailed blueprint used to guide a research study towards its objective. It is a series

of advanced decision taken together comprising a master plan or a model for conducting the

research in consonance with the research objectives. Research design is needed because it

facilitates the smooth sailing of the various research operations, thereby making research as

efficient as possible yielding maximum information with the minimum effort, time and money.

Here Descriptive Research Design is used.

Descriptive research is used to describe characteristics of a population or phenomenon being

studied. It does not answer questions about how/when/why the characteristics occurred.

Sources of data
It refers to the sources from where the data has been collected. The data which is collected first

hand is known as primary data and the data which is collected from the already published

journals, researches, books, etc., is known as secondary data

In this research two types of data are collected, one is primary data and second one is secondary

data. The primary data were collected from the Department of finance but due to several reasons,

major information collected through .Secondary sources of data .The secondary data which

include surveys and fact finding enquiries was obtained through -

Annual reports.
Journals and Magazine.
Budgeted manuals
Audited balance sheet and profit and loss account.

Sampling is a process used in statistical analysis in which a predetermined number of

observations are taken from a larger population.Convenience sampling is used for the purporse

of sampling.

Convenience sampling (also known as availability sampling) is a specific type of non-probability

sampling method that relies on data collection from population members who are conveniently

available to participate in study

Sample size: Sample size determination is the act of choosing the number of observations or

replicates to include in a statistical sample.

The sample used for the purpose of convenience sampling is 40. Sample is selected at random as

per the convenience.


The areas which are going to be studied under the research problem are considered to be

Universe. Here the Universe is Noida


Graph 1:- Result of preference online mode of payment

Online payment modes

Net Banking
Credit Cards
Debit cards
Cash cards


Here we can easily see that there are 6 ways through which Indiamart gets its payment through
its online modes , majority of its payment recieved through net banking (NEFT)then after net
banking customer prefer direct payment through credit card and debit card . Among all the
payment modes cash cards are least preferrable among the customers .

Graph 2:- Result of satisfaction level among customers with IndiaMart

Satisfaction level among customers





Here we can easily see that 72% customers are satisfied with the payment services of the
company but rest of 28% is completely dissatisfied with the services of the company mainly
because of technical glitches , security issues and various server issues faced by them at the time
of transaction.

Graph 3:- Result of company payment gateway services is better than competitors

Payment Gateway services is better than competitors

12 Highly Agree
32 Agree
Neither Agree nor
Highly Disagree



While asking about whether the INDIAMART Payment services are better from the other
competitors or not the response I got from the respondents that only 2% were highly agree 14%
were agree, 46% were neither agree nor disagree, 33% were disagree while 5% were highly

The respondents who were highly disagree was the result of delay in services and more charges
as compared to other competitors.


"I have been using many b2b services for promotion of my business But honestly Indiamart is
class apart with excellent customer support and excellent quality of exclusive buyer inquiries
Today Indiamart is Number 1 Portal of India and it is my honor to be associated with indiamart
Services given by Indiamart cannot be paid in money because it is priceless."

Kunal Gupta
Dagar Tiles, Noida

"As far as appreciation goes, we are of the idea that IndiaMART does not need any further
appreciation, as the company's name is good enough to represent the foothold in the market with
qualitative service back up to its customers. However, as given an opportunity we would like to
quote IndiaMART as Best Channel of Advertising & Spreading Awareness about the Company
in the Respected Business Arena."

Mr. Nitin Nagpal

Man BehindNalsons

" has been instrumental in helping us to generate good volume of business in

Home Furnishings & Textile related products. We are proud to be an associated member of for the last two years. We have yielded lot of genuine buyers all over the world.
We are highly grateful to IndiaMART for helping us in boosting our business globally."

Mr. N.V. Subramaniam (Business Partner)

Quality Exports

"IndiaMART.COM have been instrumental in promoting our Home Textile products all over the
world. They have helped us to get good volume of business through their promotion."
We are happy to be associated with IndiaMART.COM and would like to continue this
relationship in the future.

P. Balasubramanian

"Your website should be candidate to Nobel Prize. I am simply astonished by its simplicity and
efficiency. You will rank first one day! Thanks to exist! I will indicate your website as ultimate

term of comparison."

Alessandro Gattinoni
World Trade Center East Lombardy Brescia Italy

"We would like to congratulate India mart. We are on many similar programs around the world
and yours is the best. We get enquiries from manufacturers around the world which must go into
your programs. We get more offers from factories in Poland through India mart than their
programs in Poland. Keep up the good work."

Jiaxing Tractor Company


"Thanks a lot guys. Because of the listing you provided, i got lots of enquiries, many of which
were cemented."

Raghu Nandan
The Bangalore Trading Co.

"I am happy that you replied to my email so quickly. You have given me the feeling that I am
into the right hands and all my requests would be answered. It is service such as this which
makes organizations successful and I thank you very much."

Gregory Sutherland
DSR Trading Co. Ltd.

"I am an Indian student at the Imperial College of Science, Technology and Medicine in London.
I am currently doing a project on the Indian leather industry. Frankly, I was really amazed to see
such a rich site come up just on clicking for leather industry in India on AltaVista..."

Gaurav Joshi

"One of the most interactive trading zone on the net, that I came accross was - IndiaMART...."

Monica Halan
The Economic Times

"I find your service very usefull in detecting the true buyers."

N.K. Kankani
India Glazes Ltd.

"Congratulations! You will be glad to know that your site has been nominated as one of the TOP
25 INDIAN WEB SITES OF 1997 by PC WORLD (INDIA) in its December '97 issue. We, at
PC WORLD would like to applaud you for your excellent efforts and also hope that you keep up
the good work and continue to merit such recognition in future as well."

Ashish Bhatia
PC World (India)
"Compliments for an interesting Web Site ! Please keep up the good work for the Indian

Rohit Dalvi (Market Support Manager)

Crompton Greaves Ltd.

"I am working at Reliance Industries Ltd. and our team is visiting the IT India'97/Comdex fair. I
went through your site and it was damn informative."

Jaideep Desai
Reliance Industries Ltd.

"Congratulations on such well produced pages - for you and your clients. (I found you when
looking for Mangalore Power."

David Way

"I am doing a "report" on the Taj Mahal and decided that cruising the net would be a good way to
come up with some useful information. Unfortunately, I ran out of luck. There are a lot of sites
with pictures of the Taj Mahal and some background information on the subject but most of the
shots were distant ones. However, your's was crisp and detailed."

Mellanie Triplett

"We have reviewed your site at and are pleased to give you the Best of
Asia-Pacific Web Award !"

Chong Kee
Best of Asia-Pacific Web Award

My Learning

During the internship period, I have learnt a lot about work life in practical, which was not
possible to picture while taking classes only. However, this internship opportunity gave me a
chance to learn different skills along with discovering skills, which I did not experienced before.
I could compare and contrast between my academic and work-life learning. I have observed and
find out some issues regarding the payment process using various payment gateway services.

Communication, interpersonal communication skill, conflict management are considered as

people skill. Here I got a great scope of learning and practicing this skill through written
communication with the local as well as corporate clients and interdepartmental colleagues.
Punctuality was highly expected here. All of my colleagues in my department practiced
punctuality and encouraged each other in doing so as well. I learned a great deal of being
punctual and managing time. While maintaining inter-departmental communication, I learned to
maintain professionalism in terms of communicating. In addition, I learned how to act
professional through work, attitude, dress up etc.

The lessons I learned here during my internship was almost exactly, what was share by few
faculties in class. This is because theories often do not match with practicalities. Additionally,
we taught books written in the context of US market but the scenario in India is different.
However, according to my findings what we were taught in the class and the practices that I
found at work was neither was exactly the same nor contradictory. Similarities and dissimilarities
both were observe.


Customers are hesitant to use online modes of payment

The companys high brokerage charge makes customer reluctant on using online
payment gateways.
Their technical team is not well equipped to readily handle such hurdles. This
brings unreliability to their services.
Integration to payment processors is a time consuming process and requires going
through their certification process
Some of the customers are satisfied with the present system of payment through
cash. They dont want to pay online through payment gateway due to limited
resources or lack of vision and to avoid risk.
Many of the clients had bad experience as a result they have withdrawn from it.
The most likely reasons are unsatisfactory support , payment gateway error ,
uneasy acess etc. . Some of them had suffered heavy losses due to such errors.
Most of the organization is controlled from their respective headquarters as a
result the decision remains pending for a long period of time


Following are some limitations which I found during my internship in IndiaMart

The study duration of the project is very short and its not possible to observe every
aspect of payment gateway structure of Indiamart.
Most of the information are not to disclosed due to companies norms and policies.
The data collected were mostly secondary in nature
Some of the major secondary sources are not authentic such as wikipedia ,investopidea
Report is not so comprehensive to include all the operational techniques of Payment
Gateway of Indiamart.


Indiamart must set in place appropriate rules and procedures to ensure smooth
functioning of Payment Gateways
The tax structure on online transactions will have to be worked out in such a manner as to
promote the use Payment Gateway.
Awareness must be spread regarding benefits of online modes of payment
Company should reduce its high brokerage so that customer easily use payment
gateways without any hidden cost.
Technical team should be well equpped to readily handle server issues


IndiaMart offers huge potential in the market. But IndiaMart will work only if payment happens.
Hence payment infrastructure is critical for IndiaMart transactions, and payment gateway is the
base for all payments. Without an efficient payment gateway IndiaMart may find it hard to
partake in the rapid growth and compete globally . It also need to explore the option of linking
the payment gateway with other payment systems (domestic as well as international),
international payment gateways, and financial networks (such as SWIFT) , so that all
transactions and linkages must comply with central bank norms

1. SET Secure Electronic Transaction Specification, Programmers Guide (1997), Version 1.0.
Available at

2. Whitworth MJ (1999), Yes.Gate - Technical Description; Version 1.0: (Thyron Informatics (P)

3. Technologies for e-Commerce (2001); Center of Excellence for e-Commerce, CMC Ltd.

4. Keyes Jessica (1998), Banking Technology Handbook, CRC

5. Shaw. M.J. (200) Electronic Commerce: State of the Art (2000)

6. M. Shaw, R. Blanning, A. Whinston. Handbook on Electronic Commerce

7., Accessed December, 2006

8., Accessed December, 2006

9., Accessed December, 2006

10., Accessed December, 2006

11. The ASEAN Regional Electronic Payment Gateway available at:
products11.html). Accessed December, 2006


Business World

The Economic Times

Business Standard

Business line


[1] Company Name

[2] Address

[3] Contact number

[4] Email ID

[5] Website

[6] Nature of Business

Domestic supplier
Export house
Import house
Buying agent

[7] Legal Status of your Business?

Private Ltd Co.
Limited Co.

[8] What kind of source of media you use to promote your company?

Print media
Personal reference
Online promotion services
Exhibition/ trade shows

[9] Have you ever opted for online promotion services?

Yes No

[10] Do you know the companies which provide online promotion services?

Yes No

If, yes rank the following

[11] Are you interested in promoting your services online?

Yes No

[12] At which level would you like to promote your product?


[13]Which factors excites you to promote products online? ( Tick all that are applicable)
Tap new markers across the world
Reach potential buyers from over 200 countries
Lowest client acquisition cost
Be available to buyers 24 x 7
Get a global presence
Showcase an entire range of products

[14] How much amount of money you spend to market your product/service annually on

Less than Rs.10000

Rs.30000 and More

[15]Which mode of payment you prefer for payment ?

Online mode
Offline mode

If , online

Which factor promotes you to use the new online banking? ( Tick all that are applicable)
Cost effectiveness
Time effectiveness
Ease of use

[16]How frequently do you use the online banking services per month?
More then 12

[17]Rank your preference of various modes of online payment.

Net banking
Debit card
Credit card
Electronic Fund Transfer (EFTs)/NEFT/RTGS

[18]Through which technology you pay online

Mobile banking
Internet banking
Tele banking
Atm services

[19]Have you ever heard about payment gateway ?


[20]Which payment gateway provider you prefer the most ?

EBS hello travel
Pay u money
CC Avenue

[21] Are you satisfied with the present service provider?

Yes No

[22] Does your service provider provide you with existence verification, credibility factors and
statutory approvals?

Yes No

[23] Are you aware of online payment gateway services provided by

Yes No

[24]What is your satisfaction level regarding payment services provided by Indiamart ?

Extremely satisfies
Extremely dissatisfied