Impact of Demonetization on Digital Payments

.
KUVEMPU UNIVERSITY
Project Report on
A STUDY ON IMPACT OF DEMONETIZATION ON DIGITAL
PAYMENT SYSTEM WITH SPECIAL REFERENCE TO PAYTM
Submitted in Partial Fulfillment of the Requirement for the Award of the Degree In
BACHELOR OF BUSINESS ADMINISTRATION

BY
AKHIL. S
Register No.BB178904
UNDER THE GUIDANCE OF
Mr. VINAY KUMAR K.S

Assistant Professor
Department of Commerce and Management
PESIAMS, SHIVAMOGGA
PES Institute of Advanced Management Studies,

(Affiliated to Kuvempu University)
Recognized by Government of Karnataka
N H 206, Sagar Road, SHIVAMOGGA – 577 204
2019-2020
CERTIFICATE
This is to certify that AKHIL. S bearing the Register No. BB178904 of VI

Semester BBA has carried out the Project Work entitled “A Study on Impact
of Demonetization on Digital Payment System with special reference to
Paytm” under guidance of Mr. Vinay Kumar K.S as part of his curriculum
activity as per the norms for obtaining Degree in Bachelor of Business
Administration from PES Institute of Advanced Management Studies,
Shivamogga during the Academic year 2019-2020.
Mr. Vinay Kumar K.S Dr. G M Sudharshan Dr.K.Sailatha

Assistant Professor HOD Principal
Department of Commerce and Department of Commerce and PESIAMS
Management, Management, Shivamogga
PESIAMS PESIAMS
Shivamogga Shivamogga
Place: Shivamogga
Date:
DECLARATION
I hereby declare that the project work entitled “A Study on Impact of

Demonetization on Digital Payment System with special reference to
Paytm” is the result of my own study done under the supervision and
guidance of Mr. Vinay Kumar K.S., Assistant Professor, Department of
Commerce and Management, PES Institute of Advanced Management
Studies, Shivamogga – 577204 and I further declare that the findings in
this project report are independent study done by me and it has not been
submitted earlier to any University/Institution for the award of any other
course.
AKHIL. S
Reg. No. BB178904
VI Semester BBA
Place: Shivamogga
Date:
.
Table of Contents
Chapter Chapter name Page No.
1. Introduction 01 - 09
Company Profile 10 – 26
2.
3. Conceptual Frame Work 27 – 43
Analysis of data and interpretation 44 – 72

4.
Findings, Suggestions And Conclusion 73 – 78

5.
Questionnaire
Bibliography
List of Tables
Table no Title Page no
4.1 Table showing on the basis of Gender factor 46

4.2 Table shows on the basis of Respondent’s Marital Status 47
4.3 Table shows on the basis of Respondent’s Age Group 48
4.4 Table shows on the basis of Respondent’s Educational Qualification 49
4.5 Table shows on the basis of Respondent’s Monthly Income 50
4.6 Table shows area of respondents 51
4.7 Table shows respondents have account in Paytm App 52
4.8 Table shows how long respondent have been the customer of Paytm 53
4.9 Table shows which of the transaction respondent visited in Paytm 54
Table shows respondents ever booked any Movie Ticket through
4.10 55
Paytm
4.11 Table shows respondent use any other digital payment accounts 56
4.12 Table shows respondent use other digital payment account 57
4.13 Table shows respondent Paytm Bank Account 58
4.14 Table shows quality services provided by Paytm 59
4.15 Table shows how often respondents use Paytm App 60
4.16 Table shows Respondent feel while you using Paytm App 61
4.17 Table shows charges for money transfer to bank 62
4.18 Table shows respondents opinion about service offered by Paytm 63
4.19 Table shows overall service of Paytm App 64
Table shows overall digital payments have been received in your
4.20 65
Business pre and post demonetization
Table shows Respondent kind of promotional activities were
4.21 marketing agencies theirs digital payment solutions after 66
Demonetization
Table shows Respondent kind of offers rendered by the marketing
4.22 67
agencies to make accept theirs digital payment mode in business
Table shows respondent frequently engaged in Promotional
4.23 68
activities
Table shows respondents acceptance level towards following
4.24 69
statements
List of Graphs
Graph no Title Page no
4.1 Table showing on the basis of Gender factor 46
4.2 Table shows on the basis of Respondent’s Marital Status 47
4.3 Table shows on the basis of Respondent’s Age Group 48
4.4 Table shows on the basis of Respondent’s Educational Qualification 49
4.5 Table shows on the basis of Respondent’s Monthly Income 50
4.6 Table shows area of respondents 51
4.7 Table shows respondents have account in Paytm App 52
4.8 Table shows how long respondent have been the customer of Paytm 53
4.9 Table shows which of the transaction respondent visited in Paytm 54

Table shows respondents ever booked any Movie Ticket through
4.10 55
Paytm
4.11 Table shows respondent use any other digital payment accounts 56
4.12 Table shows respondent use other digital payment account 57
4.13 Table shows respondent Paytm Bank Account 58
4.14 Table shows quality services provided by Paytm 59
4.15 Table shows how often respondents use Paytm App 60
4.16 Table shows Respondent feel while you using Paytm App 61
4.17 Table shows charges for money transfer to bank 62
4.18 Table shows respondents opinion about service offered by Paytm 63
4.19 Table shows overall service of Paytm App 64

Table shows overall digital payments have been received in your
4.20 65
Business pre and post demonetization
Table shows Respondent kind of promotional activities were
4.21 marketing agencies theirs digital payment solutions after 66
Demonetization
Table shows Respondent kind of offers rendered by the marketing
4.22 67
agencies to make accept theirs digital payment mode in business
Table shows respondent frequently engaged in Promotional
4.23 68
activities
Table shows respondents acceptance level towards following
4.24 70
statements
A Study on Impact of Demonetization on Digital Payment System with special
reference to Paytm
Chapter – 1
Introduction
1.1 Introduction
1.2 Review of Literature
1.3 Need for the study
1.4 Statement of the problem
1.5 Objectives of the study
1.8 Research Methodology
1.9 Sampling design
1.10 Limitations of the Study
PESIAMS, Shivamogga Page 1

reference to Paytm
Introduction
1.1 Introduction
Demonetization means withdrawing the legal tender rights of any denomination of

currency. Units of money have deprived the status of legal tender. Demonetization is
an act of taking away the legal tender rights of any currency. The units of currency
will not be considered as valid currency. Demonetization is the process of ceasing a
unit of money of its status as legal tender. Demonetization is a necessary condition
for changing the old currency with the new units of money. It may involve the
introduction of new notes or coins of the same denomination or completely new
denomination.
“Demonetization is withdrawing a currency in circulation and demolishing its legal

status.” In simple words, demonetization is a process by which the old currency is
replaced by the new currency. Demonetization is normally a special tool to battle
Inflation, Black Money, Corruption and Crime, discourage a cash dependent economy
and help trade.
Almost two years ago, on 8th Nov 2016 Prime Minister Narendra Modi announced
the withdrawal of highvalue currency notes namely, Rs. 500/- and Rs. 1000/-
denomination. These denomination, almost amounted to 86% of currency in
circulation. The major objective of demonetization by GOI was supposed to be- an
attack on black money, on counterfeit notes, and projected as part to promote
digitization and cashless economy. In later years the progress appeared to be very
modest, and should make us question whether this exercise has achieved the agenda
behind it. Demonetization was initiated with a wide array of motives like stripping the
Indian economy of its black money, push people to pay taxes for the unaccounted pile
of cash, curb terrorism, promote the digital India movement and make India a cashless
economy.
Almost all the e-commerce websites suffered major losses in the event of
demonetization. People wanted to save whatever money they had. Much of the

reference to Paytm
payment for e-commerce sites is done through cash on delivery, which had now come
to suffer a huge blow.
People wanted to pay without giving away cash. Also, due to the cash crunch, buying
even essential items like grocery had become increasingly difficult. A quick, easy and
efficient way of payment was needed. As a result, several new online payment wallets
had come up, and existing ones like Payam began to gain momentum at a tremendous
pace. These wallets are easy to use. Money is first to be put into the app via online
transaction (credit/debit card, net banking). The balance amount in the wallet can be
used by the customer. When the balance amount is over, money is to be filled again.
These wallets have been added as a payment option in all the e-commerce websites.
This paper is about the attitude of people towards adoption of Digital Payments
methods in order to have transparency in their operations. Digital Payments were
encouraged by Government of India after the announcement of demonetization on 8th
November 2016. The basic objective behind the initiative of Digital Payments was to
achieve cashless economy in the long run. Due to the increasing corruption and black
money in India, it was becoming difficult to avail the statement of transactions and
transfers made by people to other parties. Digital India was a campaign launched by
Government to increase transparency in operations and attain governance.
1.2 Review of Literature
Ridam Verma and Dr. Rishi Manrai (2019), in their study about “Demonetization
and Impact on Digital Payments” stated that As digital transactions are making an
unexpected surge due to growing online payment offerings in India. The study
determines the level of awareness and the perception of the customers towards digital
payments. The study also explains about the services which are offered by digital
payment services for the certain kind of users and it gives a detailed description of
preferences of users with regards to mods of digital payments. Due to demonetization,
the usage of digital payment modes had increased and it is better option to cope up
with this critical condition of shortage of cash in further coming years. The payment
system requires end user to have a basic knowledge of smartphones/normal bar

reference to Paytm
phones. It is very important to find out the critical factors which lead to acceptance of
digital payments by the customers and common masses. This also means that the aim
of the study is to list out the factors that are barriers to the adoption of e-wallet in
India.
Dr. Ajay Pratap Yadav & Dr. Awadhesh Kumar Tiwari (2018), in their journal on
“Analysis of Impact of Demonetization on Digital Transactions in India” stated that
Demonetization of Rs 500 and Rs 1000 currency notes in India provided a fillip to the
change towards digitization of transactions. Though, the overall success of
demonetarization is still a debatable subject in academic and professional galleries.
The present study focuses on the analyzing one of the objectives of demonetization
that was to accelerate the growth in digital payment mechanism thereby shifting
towards cashless regime. The findings of the study reveal that during the study period
of 22 months, there has been a shift towards digital payment mechanism in post
demonetization phase.
Dr. Chhavi Jain (2018), in his article about “Digital Payments and Demonetization”
stated that Demonetization’s unexpected announcement and prolonged cash shortages
created an increase in digital transactions across the country. Digital transactions can
be done through banking cards, USSD, UPI, Mobile Wallets, prepaid cards, POS,
Internet banking, Mobile Banking, etc. Benefits of internet banking for customers
include ease of operation, convenience, available for 24x7, fast and efficient, safe and
secured mode, specialized services, transaction from anywhere and transaction from
any device with internet access. This paper studies the impact of demonetization on
different age groups and payment modes. From the study it came out that banks need
to launch special digital promotion programmes for people in order to make India -
DIGITAL INDIA.
Mahasweta Roy (Dutta) &, Arindam Das(2018), in their article about “Impact of
demonetization on adoption of digital banking services in India: a case study in rural
and suburban area of West Bengal” stated that It has been observed that though rural
and urban people have a noticeable awareness about the demonetization process but

reference to Paytm
the percentage of users for all categories of DBS (card, internet and mobile) are very
high for the urban sector than the rural sector. The rural people are found to be more
convenient to use card banking (percentage of only card banking facility users is
63.00%) than the other two categories of DBS (internet and mobile banking). This
study indicates that bankers and service designers should organize different campaign
and hand-on training that may inspire people for adopting DBS and moving India
towards ‘Digital India’.
Dr.S.Vasantha & Dr.S.Meena (2018), in their article about “Influence of

Demonetization on Mobile Payment Adoption & Cashless Transaction” stated that
Demonetization has brought a lot of transformations in the Indian history. The
government of India has been brought a different kind of digital initiatives to convert
our society into cashless one. The emergence of technology, growth of smart phones
and digital payment made the online transaction easier. Immediately after
demonetization, digital transactions have raised significantly. Certainly, disturbances
in the digital space have not only brought revolutionary changes but also made the
people to practice cashless transactions through e-payments and mobile wallets to
handle with the cash crunch
Piyush Kumar (2017), in his journal on “Demonetization And Its Impact On

Adoption Of Digital Payment: Opportunities, Issues And Challenges” stated that The
digital payment changed the buying behavior of Indian society. It prevents black
money market. It helps the government to maintain a record of all transaction. Digital
Payment Habit has changed after demonetization. People have no other option for
transaction so Indian society move slowly from cash to digital transaction system. On
the earlier, when digital payment introduce people hesitate to change their transaction
habits but after demonetization, they force to do their transaction with digital
payment. This research is an encomium on the charisma of digital payment analysis
after demonetization and its, its usability and affordability while they are affecting its
preference of country. The way consumer perceives digital transaction after
demonetization, it affects a lot in the society, of Indian culture.

reference to Paytm
Tanya Sanatani (2017), in her journal on “Effects of Demonetization on Digital

Payment Systems in India” stated that De-monetization has given a big boost to the
digital payment platforms in India. They are fast, reliable, easy to learn and navigate.
It is able to fulfill the requirement specifications. Which platform an individual
decides to choose is dependent on many factors. While an extremely handy and useful
software component, it is not without its share of faults and glitches that needs to be
resolved soon. Security is still a major concern regarding these platforms.
1.3 Need for the study
 This study aim at finding the effectiveness of the vendors disposition towards
the digital payment mode post demonetization.
 This segment of the vendors disposition post demonetization might as well
give the overall attitude of the vendors in the country.
 This study will helpful for the People who doesn’t know about Digital
Payment System
 Any businessman can also take the wise decision so that he will be able to
generate more revenue and can earn the profit in the actual market scenario.
 Finally everybody would be able to know the impact of demonetization on
Digital Payment System .
1.4 Statement of the problem
Even after the burgeoning growth in the digital payment sectors, many are still wary
of the existing and the upcoming technological advancement.
Security issue: With the advent of demonetization, many people were downloading
and using various digital wallets applications. Paytm reportedly had around 7 million
new users in a day. With such a spike in the digital wallet community, there are many
hackers looming around. Moreover, these wallets are also operated through the
mobile network, which is least secure method. Unlike credit/debit cards where the
personal details of the customers are shielded by the bank, these wallets have no such
security. Competent hackers can get hold of the valuable information on the phone,

reference to Paytm
which possesses a serious risk to the consumers. The security concerns also extend
towards net banking and using debit and credit card online. Not all payment sites are
encrypted, and consumers should decide wisely upon using plastic money online.
Card details are to be produced only at certified and valid websites and applications,
to reduce the risk of fraud happening. Using public wi-fi to make any sort of digital
payments is never safe. One should always try to make transactions over a safe,
private wireless network. Using a Virtual Private Network (VPN) connection is one of
the better practices to keep the data secure Such digital payment methods are not
suitable enough to make transactions for a small amount. -₹10 Lays. With digital
payment systems, there may be limits set on the number of transactions and the
amount dealt with in a day. While this may be useful as a security measure, some
might think of it as cumbersome. With net banking systems, users need a username
and password to do their transactions. Weak passwords can easily be hacked, which
puts the consumer’s money at risk Some electronic digital transfer methods charge an
added convenience fee which annoys a lot of users
1.5 Objectives of the study
 To analyze the impact of demonetization on Digital Payment System using

Paytm
 To analyze the growth of Digital Payment System and bring out the issues and
challenges faced in effective utilization of Digital Payment System in India
 To know the importance of digital payment after Demonetization as perceived
by the people of India.
 To assess the people trust and confidence in digital payment system after
Demonetization.
 To assess the uses pattern and nature of transaction done by the people after
Demonetization.
 To identify the factors of digital payment after Demonetization

reference to Paytm
1.7 Scope of the Study
The study is restricted to Shivamogga City only. The research is applicable in the area
of public perception on using digital platform solutions. The scope of the research
helps in understanding the effectiveness of the digital payment solutions post
demonetization. The study also helps the Shivamogga people to find out the different
promotional strategies followed by the marketing agencies on promoting their digital
payment solutions post demonetization towards the customer. The scope of the study
is helps to know the information efficiency of the vendors on different initiatives
rendered by central government towards digital payment solutions post
demonetization.
1.8 Research Methodology
The research design is probability research design and is descriptive research.
Sources of data collection
Primary Data
Primary data has been used by me in the form of Questionnaire & Observation, which
are the two basic methods of collecting primary data, which suffices all research
objectives.
Secondary data
Secondary data sources like catalogue of the company, product range book of the
company, various internet sites and Literature Reviews have been used.
1.9 Sampling design
The research was designed to achieve the above mentioned objectives and the
following tools were used to collect the required data.
Sampling method A sample is considered during a research when the size of the
population is very large and a set is chosen to represent the whole population, this set
is called a sample is a representative of the population under study.

reference to Paytm
There are two methods of sampling i.e., probability and non probability sampling. To
carry out this project I have used non probability sampling method.
Sampling frame
The sample frame represents the groups of respondents that were contacted during the
survey it also represents the profession of the respondents that were connected for
data.
Sampling technique
To carry out this project Convenience technique has been used
Sample Size
The total sample size for the data collection for the research was 100 respondents.
Tools for data collection:
Structured Questionnaires were the tools for data collection. The Questionnaire was
neatly designed and constructed for the purpose in line with the objective of the study.
1.10 Limitations of the Study
 The Present study is restricted to Shivamogga City only

 50 Respondents only has taken for the survey purpose
 The research data conducted only through direct interview and questionnaire
 Due to rapid changes the research results or outcomes available after the
specific time period seem irrelevant or meaningless.
 The research was conducted within a limited duration. So a detailed and
comprehensive study could not be made.
 The findings and conclusions are based on knowledge and experience of the
respondents sometime may subject to bias.

reference to Paytm
Chapter - 2
Company profile
2.1 Introduction
2.2 Company profile
2.3 Paytm Funding
2.4 Partners
2.5 Vision and Mission Statement
2.6 Board of Directors
2.7 Service Profile
2.8 Awards & Achievements:
2.9 Competitors

reference to Paytm
Company profile
2.1 Introduction
Paytm means “Pay through Mobile”. It is one of the largest is one of the fastest
growing Indian e-commerce shopping websites launched in 2010. The name of the
company who launched the Paytm is One97 communication. Initially it is focused on
Mobile and DTH recharging. The Company headquartered in Noida, India. It
gradually provided recharging and bill payment of various portals including electricity
bills, gas bills as well as telephone bills. In 2014 Paytm has started the business same
like as the facilities are getting from the other E- Commerce company such as
Flipkart, Amazon, and Snapdeal. Today, it is India's most popular online destination
for prepaid mobile & DTH recharges and shopping, and its Android and iOS apps
have been ranked among the most popular apps. In only 3 years since the founding,
the company created a user base of 25 million wallet users and 10 million app
downloads. In 2014, the company launched Paytm Wallet, India's largest mobile
payment service platform with over 40 million wallets. The service became the
preferred mode of payment across leading consumer internet companies such as Uber,
Bookmyshow, Makemytrip.
Paytm is India's largest leading payment gateway that offers comprehensive payment
services for customer and merchants. We offer mobile payment solutions to over 7
million merchants and allow consumers to make seamless mobile payments from
Cards, Bank Accounts and Digital Credit among others. We pioneered and are the
leader of QR based mobile payments in India. With the launch of Paytm Payments
Bank, we aim to bring banking and financial services to half-a-billion un-served and
under-served Indians. Our investors include Softbank, SAIF Partners, Alibaba Group
and Ant Financial. We strive to maintain an open culture where everyone is a hands-
on contributor and feels comfortable sharing ideas and opinions. Our team spends
hours, designing each new feature and obsesses about the smallest of details.

reference to Paytm
2.2 Company profile
Paytm is an Indian e-payments and e-commerce brand based out of Delhi NCR,
India. Launched in August 2010, it is a consumer brand of parent company One97
Communications. The name is an acronym for "Payment Through Mobile". The
company employs over 13,000 employees as of January 2017 and has 3 million
offline merchants across India. It also operates the Paytm payment gateway and the
Paytm Wallet. Starting from march 2017, Paytm expanded its services to Canada with
the launch of Paytm Canada
Type of business Private

Founded 2010
Headquarters Noida, Uttar Pradesh, India
Area served Worldwide
Founder(s) Vijay Shekhar Sharma
Key people Vijay Shekhar Sharma (Chairman)
Renu Satti (CEO & MD)
Amit Sinha (COO)
Parent One97
Alibaba
Website paytm.com
Current status Online

reference to Paytm
2.3 Paytm Funding
Paytm got a major boost in e-commerce when Indian industrialist RatanTata made
personal investment in the firm in March 2015. In the same month, the company
received a $575 million investment from Chinese e-commerce company Alibaba
Group, after And Financial Services Group, an Alibaba Group affiliate, took 25%
stake in One 97 as part of a strategic agreement.
2.4 Partner

reference to Paytm
2.5 Vision and Mission Statement

Vision
“A company is worth the company it keeps.” – Vijay Shekhar Sharma
 We are on the road to making an enormous impact to the economic foundation

of the country.
 We want millions to accompany us and benefit from this journey.
 We want to make a positive difference by empowering the lives that we touch.
Mission
To be the most trusted mobile commerce brand in the country
Approach
 We intend to reach every inch of the country and en-route, empower small
enterprises.
 We commit to operate in an economically, socially and environmentally
responsible manner.
 We hope to use our influence to garner financial & other support for disaster
victims & the underprivileged.
 We do our best to compensate negative effect on the environment. We wish to
share our technical knowledge with the deserving to empower them.
 We believe in providing equal opportunity for all our people, as well as those
whom we come across in our course of work.
Policies
 Paytm is a transparent and ethical company and expects that its ethics and
values are intentionally upheld all across.
 Paytm is bound by the relevant law of the land.
 We suggest You go through our policies carefully, and keep visiting for
updates.

reference to Paytm
2.6 Board of Directors
Name Designation
Vijay Shekhar Sharma Founder and CEO
Bhushan Patil President
Madhur Deora CFO and SVP
Kiran Vasireddy CCO and SVP of Business

2.7 Service Profile
Digital Services
Paytm facilitates the payment of certain bills through the Paytm Platform with respect
to certain services offered by Paytm business partners who have partnered with Paytm
to enable their bills to be paid through the Paytm Platform. Please see the relevant
links on the Paytm Platform for more information on Paytm’s bill payment service.
Further, Paytm also offers certain digital products which facilitate the purchase of
prepaid recharges for mobile, DTH, toll and data card as well as purchase of movie
tickets, bus tickets, hotel reservations, flight tickets and purchase of tickets to
amusement or theme parks, etc. Other digital products available on the Paytm
Platform also include coupon redemption services. The terms and conditions in
relation to bill payments and digital products are set out below. The terms and
conditions in relation to bill payments and digital products set out below are
applicable to and binding on You in conjunction with the SSOID terms and conditions
already accepted by You. Each SSOID term or condition is applicable to and binding
on You, or any of Your activities on the Paytm Platform, even if such term or
condition is not specifically reproduced herein below. The terms ‘Agreement’ or
‘T&Cs’ mentioned herein below includes the terms and conditions in relation to bill
payments and digital products set out below and the SSOID terms and conditions as
well as other service-specific terms and conditions in relation to Paytm Services or
Paytm Platform.

reference to Paytm
Mobile Recharge
Paytm Recharges
Paytm is only a reseller of digital products. Paytm does not provide mobile operator
services and is only a reseller of prepaid mobile recharge services which are
ultimately provided by telecommunications service providers (hereafter Telco or
Telcos) or by other distributors or aggregators of such Telcos. Paytm is not a
warrantor, insurer, or guarantor of the services to be provided by the Telcos. Prepaid
mobile recharge sold by Paytm to You is sold without recourse against Paytm for any
breach of contract by the Telcos. Any disputes regarding the quality, minutes
provided, cost, expiration, or other terms of the mobile prepaid recharge purchased
must be handled directly between You (or the recipient of the recharge) and the Telco.
The terms and conditions set out in this section are applicable, mutatis mutandis, to
other prepaid recharge products available on the Paytm Platform including prepaid
recharges in relation to DTH, data card and toll tags as well as to other prepaid
recharge products that may be offered on the Paytm Platform. Paytm will not be
responsible for any failure on the part of any of its recharge partners in effecting a
recharge.
Airtel mobile
Aircel mobile
Idea mobile
BSNL mobile
Jio mobile
MTS mobile
MTNL mobile
Reliance GSM mobile
Reliance Mobile

reference to Paytm
T24 mobile
Dth Recharge
Airtel Digital TV dth
Dish TV dth
Reliance Digital TV dth
Sun Direct dth
Tata Sky dth
Videocon d2h dth
Datacard Recharge
Aircel datacard
BSNL datacard
Idea datacard
Jio datacard
MTNL datacard
MTS MBlaze datacard
MTS MBrowse datacard
Tata Photon Plus datacard
Tata Photon Wiz datacard
Reliance Netconnect+ datacard
Vodafone datacard
Landline Bill Payment
Bill Payments

reference to Paytm
In order to use the bill payments service or any other Paytm Service, You will need to
obtain access to the World Wide Web or the Internet, either on a computer or on any
other device that can access web-based content, and You will also need to pay any
service fees associated with such access. In addition, You must have all equipment
necessary to make such connection to the World Wide Web or the Internet, including
a computer and a modem or any other set of access devices. Paytm and/or the Paytm
business partner (including Paytm’s bill payment partners) reserve the right to charge
and recover from You, such fees for availing the service as the case may be. These
charges shall be effective from the time when they are posted on the Paytm Platform
or on the Paytm business partner’s channel/portal/website through which You are
availing the specific service.
 ACT Broadband landline

 Airtel landline
 Asianet Broadband landline
 BSNL landline
 Den Boomband landline
 Dreamtel Broadband landline
 MTNL Delhi landline
 MTNL Mumbai landline
 MTS landline
 Reliance landline
Datacard Bill Payment
 Aircel datacard
 Airtel datacard
 BSNL datacard
 Idea datacard
 Jio datacard
 MTNL datacard
 MTS MBlaze datacard

reference to Paytm
 Tata Photon Plus datacard

 Tata Photon Wiz datacard
 Vodafone datacard
Broadband Bill Payment

 ACT Broadband
 Airtel broadband
 Asianet Broadband
 BSNL broadband
 Den Boomband broadband
 Dreamtel Broadband
 MTNL Delhi broadb and
 MTNL Mumbai broadband
 MTS broadband
 Reliance broadband
 Tikona Broadband
Electricity Bill Payment

 UHBVN Bill Pay
 BESCOM Electricity Bill Payment
 BSES Rajdhani Bill Payment
 CESC Electricity Bill Payment
 NPCL Bill Payment
 North Bihar Power Distribution Bill Payment
 SNDL Nagpur Bill Payment
 TATA Power DDL Bill Payment
 Torrent Power Limited Bill Payment
 Uttar Pradesh Power Corporation Ltd. Bill Payment
 South Bihar Power Distribution Bill Payment

reference to Paytm
Mobile Bill Payment
 Aircel mobile
 Airtel mobile
 BSNL mobile
 Idea mobile
 Jio mobile
 MTS mobile
 Matrix Postpaid mobile
 Reliance Mobile
 Tata Indicom Mobile
 Vodafone Mobile
 Tata DOCOMO Mobile
Gas Bill Payment
 Mahanagar Gas Bill Payment

 Adani Gas Limited Bill Payment
 Siti Energy Ltd Gas Bill Payment
Metro Card Recharge
 Delhi Metro Card Recharge

 Mumbai Metro Card Recharge
Water Bill Payment
 Delhi Jal Board (DJB) Water Bill Payment

 Aurangabad Water Bill Payment
Insurance Premium Payment
 ICICI Prudential Life Insurance Premium Payment

 SBI General Insurance Limited Premium Payment
 Reliance Life Insurance Premium Payment
 TATA AIA Life Insurance Premium Payment

reference to Paytm
 Reliance General Insurance Premium Payment

 Religare Health Insurance Premium Payment
 IndiaFirst Life Insurance Premium Payment
Amusement Park Tickets

Paytm is an intermediary within the meaning of the Information Technology Act,
2000 and the rules there under and merely facilitates the sale and purchase of tickets
between the merchant and the customer. For the purposes of this section, merchant
shall mean any theme park, water park, amusement park or any other similar
establishment for which ticket(s) have been purchased through the Paytm Platform.
Paytm does not at any point of time during any transaction between the customer and
merchant take the ownership of any of the products/services provided by the
merchant. Nor does Paytm at any point asserts any rights or claims over the
products/services offered by the merchant to the customer. In using the online
ticketing service on the Paytm Platform
Book Hotels
 Nainital Hotels
 Shimla Hotels
 Kodaikanal Hotels
 Coorg Hotels
 Mumbai Hotels
 Pune Hotels
 Goa Hotels
 Hyderabad Hotels
 Delhi Hotels
 Jaipur Hotels
 Mussoorie Hotels
 Srinagar Hotels

reference to Paytm
Book Movie Tickets
Paytm is an intermediary within the meaning of the Information Technology Act,

2000 and the rules thereunder and merely facilitates the sale and purchase of movie
tickets between the merchant, i.e., the cinema owner, and customer. For the purposes
of this section, a merchant shall mean a cinema owner or the person owning inventory
of movie tickets that are being sold on the Paytm Platform. Paytm does not at any
point of time during any transaction between the customer and the merchant, take the
ownership of any of the products/services provided by merchant. Nor does Paytm at
any point assert any rights or claims over the products/services offered by the
merchant to the customer. In using the Paytm Platform for purchasing movie tickets
Book Bus Tickets
Paytm is only a bus ticket agent. It does not operate buses or offers bus transport
services. In order to provide a comprehensive choice of bus operators, departure times
and prices to customers, Paytm has tied up with many bus operators and service
providers.
Paytm’s advice to customers is to choose the bus operators who they are aware of and
whose service they are comfortable with.
Paytm’s responsibilities include:
issuing a valid ticket (a ticket that will be accepted by the bus operator) for its
network of bus operators;
providing refund and support in the event of cancellation; and
providing customer support and information in case of any delays/inconvenience.
Special Offers
Shopping Offers
Travel Offers
Hotel Booking Offers

reference to Paytm
Bus Ticket Offers
Flight Offers
Recharge Offers
Movie Ticket Offers
Gold Transfer / Gold P2P Transfer:
Upon transfer of Gold from a Customer, if recipient Customer already has an existing
Gold Accumulation Plan Account (GAP), Gold will be credited in such account,
otherwise a new GAP account will be created for such recipient Customer. Such Gold
account would be created in recipient Customer name as per recipient Customer KYC
details available with Paytm. In case if KYC is required, the same shall be provided
by the recipient Customer. Transfer is subject to fulfillment of necessary KYC
compliance(s). Upon successful creation of account of recipient Customer, the
transferred Gold shall be credited to such account.
GAP accounts are offered, created, operated and maintained by MMTC-PAMP,

Paytm partner for Gold.
2.8 Awards & Achivements:

2017
 Paytm wins Diamond SABRE Award in Company Of The Year at SABRE

Awards 2017
 Paytm wins Diamond SABRE Award in Superior Achievement In Reputation
Management at SABRE Awards 2017
 Paytm wins Gold SABRE Award in Financial Professional Services at
SABRE Awards 2017
 Vijay Shekhar Sharma recognized among the 50 Most Influential Young
Indians by GQ
 Vijay Shekhar Sharma wins at Entrepreneur India Awards 2017

reference to Paytm
 Vijay Shekhar Sharma named to the 2017 Time 100 List of Most Influential
People in the World
 Vijay Shekhar Sharma recognized as the Entrepreneur of the Year at The
Entrepreneur's Moneytech Awards 2017
 Vijay Shekhar Sharma announced Data Quest IT Person of the Year.
 Vijay Shekhar Sharma wins Forbes Top 40 Under 40 Award.
 Paytm wins Best Digital Wallet award at the 11th IAMAI India Digital
Summit.
 Paytm wins Best Consumer Mobile Service award at the 11th IAMAI
India Digital Summit.
2016
 Paytm wins ET Brand Equity Most Trusted Brand of the Year 2016.
 Vijay Shekhar Sharma wins IMPACT Person of the Year Award 2016.
 Paytm wins FT Future of Fintech Award.
 Paytm wins Outstanding Startup of the Year Award at Forbes Leadership
Awards 2016.
 Vijay Shekhar Sharma wins Uttar Pradesh government’s top Yash
Bharti Award.
 Vijay Shekhar Sharma wins ET Panache Trendsetting
Entrepreneur Award.
 Vijay Shekhar Sharma chosen as Entrepreneur of the Year at ET Awards for
Corporate Excellence.
 Vijay Shekhar Sharma named Businessman of the Year at GQ Men of the
Year Awards.
 Paytm wins the Mobile Wallet Provider of the Year Award in the B2C
category at the Frost & Sullivan Awards Ceremony.
 Paytm receives ET Telecom Game Changer of the Year Award for 2015.
 NDTV Indian of the Year Award for Paytm CEO Vijay Shekhar Sharma.

reference to Paytm
2015
 Paytm won NDTV Cisco Digitizing India Awards for Disruptive Digital
Innovator.
 Vijay Shekhar Sharma featured in Economic Times "India's Hottest
Business Leader under 40"
 Paytm won the Frost & Sullivan India ICT Award for Mobile Commerce
Company of the Year in B2C segment.
 One97/Paytm recognized among Smart Innovators of 2014 at the Inc India
Awards.
 Vijay Shekhar Sharma recognized among the most Innovative CEOs of 2014
by Inc India.
 Paytm Wallet gets the Best Digital Wallet Award at IAMAI' India Digital
Awards in Delhi on 15th Jan 2015
2014
 Paytm App gets featured in Apple App Store’s Best of 2014 in the
Mobile/DTH Recharge & Shopping Category
 Paytm is the winner of Indian Express IT Award in Mobility Solutions 2014
 Paytm App is a finalist at the international Meffys in Consumer Trust
category
 Gold Winner at the MMA Smarties in the Mobile App category
 Silver Winner at the MMA Smarties in the mCommerce category
 Among Delhi/NCR’s Top 50 Brands at a celebration by Paulwriter
 Best Mobile Money product at the 4th India Digital Awards
2013
 Knowledge Faber Best Mobile Wallet Program Award

 Special mention in m Billionth Awards in mCommerce/mBusiness category
 Gold Winner at the MMA Smarties for mCommerce

reference to Paytm
2012
 Most Innovative Startup of the Year at the Entrepreneur India event by

Franchise India
2.9 Competitors
 Mobikwik
 Freecharge
 Paypal
 Chiller
 Tez
 Phonepay

reference to Paytm
Chapter – 3
Conceptual Frame Work
3.1 Digital Payment System
3.2 What is a Digital Payment
3.3 What is a Cashless Economy
3.4 Story of Digital Payment
3.5 10 Types of Digital Payment Methods in India
3.6 How to get Banking cards:
3.7 How to Use *99#:
3.8 How to use AEPS:
3.9 How to use UPI:
3.10 How to use a mobile wallet:
3.11 How to Use a Prepaid Card:
3.12 How to Use BHIM App:
3.13 Benefits of Digital Payments
3.14 Digital Payment Industry In India
3.15 The story so far
3.16 The potential
3.17 Key Drivers
3.18 Comparison with global market
3.19 Road ahead
3.20 Top 10 Mobile Wallets In India – 2019 Edition

reference to Paytm
Conceptual Frame Work

3.1 Digital Payment System
The Government of India has been taking several measures to promote and encourage
digital payments in the country. As part of the ‘Digital India’ campaign, the
government aims to create a ‘digitally empowered’ economy that is ‘Faceless,
Paperless, Cashless’. There are various types and modes of digital payments. Some of
these include the use of debit/credit cards, internet banking, mobile wallets, digital
payment apps, Unified Payments Interface (UPI) service, Unstructured
Supplementary Service Data (USSD), Bank prepaid cards, mobile banking, etc.
Digital payment methods are often easy to make, more convenient and provide
customers the flexibility to make payments from anywhere and at anytime. These are
a good alternative to traditional methods of payment and speeden up transaction
cycles. Post demonetization, people slowly started embracing digital payments and
even small time merchants and shop owners started accepting payments through the
digital mode.
3.2 What is a Digital Payment
To put it in simple words, a digital payment occurs when goods or services are
purchased through the use of various electronic mediums. There is no use of cash or
cheques in this type of payment method.
3.3 What is a Cashless Economy
In a cashless economy, all transactions are carried out using different types of
payment methods and this does not involve the physical use of money for the
purchase of various goods and services.

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3.4 Story of Digital Payment
Debit,
Total Total Total Number
credit
Month digital UPI PPI of PoS
card
payments payments payments terminals
payments
December 1150.28 145.40 99.10 263.90 NA
November 1081.58 104.80 92.8 244.60 2.99
October 1048.30 76.70 96.20 255.70 2.95
September 958.60 30.70 87.50 240.30 2.90
August 964.40 16.60 89.70 243 2.88
July 938 11.44 88.70 237.60 2.84
June 920.20 10.15 84.70 232.40 2.77
May 926.55 9.16 91.30 233.40 2.69
April 909.60 7 89.20 231.10 2.61
3.5 10 Types of Digital Payment Methods in India

1. Banking cards
2. USSD
3. Aadhaar Enabled Payment System (AEPS)
4. UPI
5. Mobile Wallets
6. Bank pre-paid cards
7. Point of Sale (PoS)
8. Internet Banking

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9. Mobile Banking
10. Bharat Interface for Money (BHIM) app
1. Banking cards: Cards are among the most widely used payment methods and
come with various features and benefits such as security of payments, convenience,
etc. The main advantage of debit/credit or prepaid banking cards is that they can be
used to make other types of digital payments. For example, customers can store card
information in digital payment apps or mobile wallets to make a cashless payment.
Some of the most reputed and well-known card payment systems are Visa, Rupay and
MasterCard, among others. Banking cards can be used for online purchases, in digital
payment apps, PoS machines, online transactions, etc.
3.6 How to get Banking cards:
 Apply with your respective bank and provide Know Your Customer (KYC)
details
 The card will get activated within a week and you will be allotted a 4-digit pin,
which can be used for all transactions
2. USSD: Another type of digital payment method, *99#, can be used to carry out
mobile transactions without downloading any app. These types of payments can also
be made with no mobile data facility. This facility is backed by the USSD along with
the National Payments Corporation of India (NPCI). The main aim of this type of
digital payment service is to create an environment of inclusion among the
underserved sections of society and integrate them into mainstream banking. This
service can be used to initiate fund transfers, get a look at bank statements and make
balance queries. Another advantage of this type of payment system is that it is also
available in Hindi.
3.7 How to Use *99#:
 This service can be used by dialling *99#, after which the customer can
interact with an interactive voice menu through their mobile screen.

reference to Paytm
 To use the service the mobile number of the customer should be the same as
the one linked to the bank account
 The next step is to register for USSD, MMID (Mobile Number Identifier) and
MPIN
3. AEPS: Expanded as Aadhaar Enabled Payment System, AEPS, can be used for all
banking transactions such as balance enquiry, cash withdrawal, cash deposit, payment
transactions, Aadhaar to Aadhaar fund transfers, etc. All transactions are carried out
through a banking correspondent based on Aadhaar verification. There is no need to
physically visit a branch, provide debit or credit cards, or even make a signature on a
document. This service can only be availed if your Aadhaar number is registered with
the bank where you hold an account. This is another initiative taken by the NPCI to
promote digital payments in the country.
3.8 How to use AEPS:
 It is very simple to use AEPs, all you need to do is to provide the accurate
Aadhaar number and the payment will be successfully made to the concerned
merchant
4. UPI: UPI is a type of interoperable payment system through which any customer
holding any bank account can send and receive money through a UPI-based app. The
service allows a user to link more than one bank account on a UPI app on their
smartphone to seamlessly initiate fund transfers and make collect requests on a 24/7
basis and on all 365 days a year. The main advantage of UPI is that it enables users to
transfer money without a bank account or IFSC code. All you need is a Virtual
Payment Address (VPA). There are many UPI apps in the market and it is available
on both Android and iOS platforms. To use the service one should have a valid bank
account and a registered mobile number, which is linked to the same bank account.
There are no transaction charges for using UPI. Through this, a customer can send and
receive money and make balance enquiries.

reference to Paytm
3.9 How to use UPI:
 Download the app on Android or iOS platform
 Register for the service by providing bank account details
 Create a VPA, get an MPIN
5. Mobile Wallets: A mobile wallet is a type of virtual wallet service that can be used
by downloading an app. The digital or mobile wallet stores bank account or
debit/credit card information or bank account information in an encoded format to
allow secure payments. One can also add money to a mobile wallet and use the same
to make payments and purchase goods and services. This eliminated the need to use
credit/debit cards or remember the CVV or 4-digit pin. Many banks in the country
have launched e-wallet services and apart from banks, there are also many private
players. Some of the mobile wallet apps in the market are Paytm, Mobikwik,
Freecharge, etc. The various services offered by mobile wallets include sending and
receiving money, making payments to merchants, online purchases, etc. Some mobile
wallets may charge a certain transaction fee for the services offered.
3.10 How to use a mobile wallet:
 Download the app
 Register for the service by following instructions and providing all details
 Load money
6. Bank pre-paid cards: A prepaid card is a type of payment instrument on to which

you load money to make purchases. The type of card may not be linked to the bank
account of the customer. However, a debit card issued by the bank is linked with the
bank account of the customer.
3.11 How to Use a Prepaid Card:
 Apply for the card
 Get pin

reference to Paytm
 Load money from your bank account/debit card
7. PoS terminals: Traditionally, PoS terminals referred to those that were installed at
all stores where purchases were made by customers using credit/debit cards. It is
usually a hand held device that reads banking cards. However, with digitization the
scope of PoS is expanding and this service is also available on mobile platforms and
through internet browsers. There are different types of PoS terminals such as Physical
PoS, Mobile PoS and Virtual PoS. Physical PoS terminals are the ones that are kept at
shops and stores. On the other hand, mobile PoS terminals work through a tablet or
smartphone. This is advantageous for small time business owners as they do not have
to invest in expensive electronic registers. Virtual PoS systems use web-based
applications to process payments.
8. Internet Banking: Internet banking refers to the process of carrying out banking
transactions online. These may include many services such as transferring funds,
opening a new fixed or recurring deposit, closing an account, etc. Internet banking is
also referred to as e-banking or virtual banking. Internet banking is usually used to
make online fund transfers via NEFT, RTGS or IMPS. Banks offer customers all
types of banking services through their website and a customer can log into his/her
account by using a username and password. Unlike visiting a physical bank, there are
to time restrictions for internet banking services and they can be availed at any time
and on all 365 days in a year. There is a wide scope for internet banking services.
9. Mobile Banking: Mobile banking is referred to the process of carrying out

financial transactions/banking transactions through a smartphone. The scope of
mobile banking is only expanding with the introduction of many mobile wallets,
digital payment apps and other services like the UPI. Many banks have their own apps
and customers can download the same to carry out banking transactions at the click of
a button. Mobile banking is a wide term used for the extensive range or umbrella of
services that can be availed under this.
10. Bharat Interface for Money (BHIM) app: The BHIM app allows users to make
payments using the UPI application. This also works in collaboration with UPI and

reference to Paytm
transactions can be carried out using a VPA. One can link his/her bank account with
the BHIM interface easily. It is also possible to link multiple bank accounts. The
BHIM app can be used by anyone who has a mobile number, debit card and a valid
bank account. Money can be sent to different bank accounts, virtual addresses or to an
Aadhaar number. There are also many banks that have collaborated with the NPCI
and BHIM to allow customers to use this interface.
3.12 How to Use BHIM App:
 Download and install the BHIM app
 Choose a language
 Register for the service by providing mobile number linked to bank account
 Add bank-related information and set up a UPI PIN by following the given
instructions
3.13 Benefits of Digital Payments
 Faster, easier, more convenient: Perhaps, one of the biggest advantages of

cashless payments is that it speeds up the payment process and there is no
need to fill in lengthy information. There is no need to stand in a line to
withdraw money from an ATM or carry cards in the wallet. Also, with the
move to digital, banking services will be available to customers on a 24/7
basis and on all days of a year, including bank holidays. Many services like
digital wallets, UPI, etc, work on this basis.
 Economical and less transaction fee: There are many payment apps and
mobile wallets that do not charge any kind of service fee or processing fee for
the service provided. The UPI interface is one such example, where services
can be utilized by the customer free of cost. Various digital payments systems
are bringing down costs.
 Waivers, discounts and cashbacks: There are many rewards and discounts
offered to customers using digital payment apps and mobile wallets. There are

reference to Paytm
attractive cash back offers given by many digital payment banks. This comes
as boon to customers and also acts a motivational factor to go cashless.
 Digital record of transactions: One of the other benefits of going digital is

that all transaction records can be maintained. Customers can track each and
every transaction that is made, no matter how small the transaction amount
this.
 One stop solution for paying bills: Many digital wallets and payment apps
have become a convenient platform for paying utility bills. Be it mobile phone
bills, internet or electricity bills, all such utility bills can be paid through a
single app without any hassle.
 Helps keep black money under control: Digital transactions will help the
government keep a track of things and it will help eliminate the circulation of
black money and counterfeit notes in the long run. Apart from this, this may
also give a boost to the economy as the cost of minting currency also goes
down.
Digital payments are slowly gaining popularity in India and there are many apps that
are being launched in this sector. It has become a hassle-free and secure way to make
payments.
3.14 Digital Payment Industry In India

reference to Paytm
From being primarily a cash-obsessed economy, India’s digital payment story is new
but exciting. Driven by progressive regulatory policies and increased use of mobile
internet, Indian payment industry is going through a transformational phase. The next
few years will witness a whole new way of how money is moved in the Indian
economy.
3.15 The story so far
Digital payments started to pick up pace with the growth of e-commerce companies
followed by emergence of digital wallet companies. To lure the consumers, the digital
wallets doled out lucrative offers and cash backs to get consumers on board using the
payment channel. Thanks to the ease of use, attractive offers and increased
smartphone penetration, the digital wallet companies did find their way to the
consumer’s phone as well as the pocket.
To expand their reach, the digital wallets started encouraging customers to use them
for offline point of sale (POS) transactions too like at shopping malls, supermarkets,
grocery stores, restaurants and gas/petrol stations. These POS transactions are
expected to become a majority contributor to the digital payments platform in the
coming years. Clearly, digital wallets are playing a unique role in driving the growth
of digital payments sector.
The other important pillar of the digital payment story are the online ticketing, travel
and events companies like IRCTC (Railways), Makemytrip, Yatra, Ibibo, Cleartrip
(Airlines and hotels), Trivago (hotels), redBus (buses), and Bookmyshow (movie and
event ticketing). They have got consumers to transact online.

reference to Paytm
3.16 The potential
The digital payment industry is gaining momentum and is projected to grow at an

exponential rate. 81 per cent of existing digital payment users prefer the medium over
other non-cash payment methods like cheques or demand drafts. Online shopping,
payment of utility bills (like electricity, mobile bills, water bills, etc.) and movie
tickets are the three things that an Indian user primarily pays for through digital
platform.
According to a report by Google and Boston Consulting Group (BCG), the Indian
digital payments industry is estimated to touch $500 billion by 2020, contributing 15
per cent to the country’s GDP.
An interesting angle to India’s digital payment story is that it is going to be dominated

by micro transactions (tractions of value lower than Rs 100). In fact, 50% of person-
to-merchant transactions are to be under Rs.100, says the Google-BCG report.
Alternate digital payment instruments like digital wallets, UPI, payment banks, Bharat
QR are expected to grow fiercely and estimated to double their contribution to 30 per
cent in the digital payment industry.
Mobile/Digital wallets: The digital payment industry growth will be led by the
digital/mobile wallets. According to the Capgemini’s World Payment Report, mobile
wallets will witness a compound annual growth rate (CAGR) of 148 per cent over the
next five years and will be $4.4 billion by 2022. The digital wallets are also supposed
to outshine UPI.
3.17 Key Drivers
This exponential growth of the digital payment sector is driven by multiple factors
including convenience to pay, the ever-growing smartphone penetration, rise of non-
banking payment institutions (payments bank, digital wallets, etc.), progressive
regulatory policies and increasing consumer readiness to the digital payment platform.
The convenience to pay along with the availability of lucrative offers, are two key
factors that have been driving the growth of digital payments in India. This coupled

reference to Paytm
with the increasing smartphone penetration is proving to be a boon for digital

payments sector. India, currently, has third largest internet user base in the world with
300 million users. 50 per cent of these users are connected to internet through mobile
only. This 150 million mobile only internet users’ are playing a key role in the growth
story of digital payments.
The advent of next-generation payment systems like payment banks, digital wallets
and BharatQR, is fueling digital payments furthermore. It is projected that digital
payments in India will supersede cash by 2022, according to the IDC Financial
Insights report titled The Future of Payments in India: More Spectacular Growth
Ahead.
Another key driver of digital payments is positive policy framework changes and
government initiatives like launch of new payments systems like - UPI, Aadhar linked
electronic payments and improvement of the digital infrastructure.
3.18 Comparison with global market
When it comes to the ecosystem of digital payments, India is pegged to have the most
evolved system compared to 25 other countries which were surveyed by FIS, a US-
based banking technology company. This included UK, China and Japan. The
parameters that FIS used to measure the digital payments in these 25 countries include
round-the-clock availability of the services, adoption, and immediacy of payments.
FIS’ Flavors of Fast used the Faster Payments Innovation Index (FPII) rates different
payment system across these 25 countries on a scale of 1-5, with 5 being the highest
rating. According to FPII, India’s IMPS service was the only system to get a level 5 5
rating, leaving behind countries like UK, Singapore, Denmark, Switzerland, China,
Japan, and others. This certainly puts India’s digital payments story to be an exciting
one.
3.19 Road ahead
Clearly, the digital payment space is being transformed and the sector has witnessed
tremendous growth, innovations and regulatory support over the last two years. Such

reference to Paytm
has been the changes that India has become the most evolved country when it comes
to the digital payment ecosystem. The focus should be to keep the momentum going
with more support from the government and innovations, safety and convenience
from the players.
3.20 Top 10 Mobile Wallets In India – 2019 Edition
As shopping patterns continue to evolve, so does the payment platform and payment
gateway industry that propels the former. Mobile Point of Sales machines have of
course existed for a long time but mobile wallet is a new concept in India that has
been surpassing credit card usage and is slowly beginning to replace the traditional
payment methods.
A mobile wallet, in simple terms, is a virtual mobile-based wallet where one can store
cash for making mobile, online or offline payments. There are various types of mobile
wallets in India, such as open, semi-open, semi-closed and closed - depending on the
type of usage and payments that can be made. Wallets are growing rapidly as they
help in increasing the speed of transaction, especially for ecommerce companies and
all ecommerce marketplaces have integrated with such mobile wallets too.
Here are some of the top 10 mobile wallet companies in India and what they offer to
their customers.
1. PayTM
PayTM is one of the largest mobile commerce platforms in India, offering its
customers a digital wallet to store money and make quick payments.
Launched in 2010, PayTM works on a semi-closed model and has a mobile market,
where a customer can load money and make payments to merchants who have
operational tie-ups with the company. Apart from making e-commerce transactions,
PayTM wallet can also be used to make bill payments, transfer money and avail
services from merchants from travel, entertainment and retail industry.

reference to Paytm
Capitalizing on the scope and growth of India’s education market segment, they
recently partnered with premium educational institutions in India to introduce cashless
payments for fees, bills and other expenses.
Number of installs: 100 Million (or 10 crores) on Android Play Store.
2. Amazon Pay
Amazon Pay is an online payments processing service that is owned by Amazon.

Launched in 2007 globally and in India in 2017, Amazon Pay uses the consumer base
of Amazon and focuses on giving users the option to pay with their Amazon accounts
on external merchant websites, including apps like BigBazaar etc. You also get
to Shop on Amazon using Amazon Pay.
Number of installs: Undisclosed
3. Google Pay (formerly known as Tez)
As its part of the Google ecosystem they have scaled up their user base really quickly,
inspite of being a late entrant. With Google Pay you can send money to friends, pay
bills and buy online, recharge your phone. Since Google Pay works with your existing
bank account, which means your money is safe with your bank. There's no need to
worry about reloading wallets and you don't need to do additional KYC - which is
required for all the other apps.
Number of installs: 100,000,000+ (100 Million or 10 crore) on Android Play Store
4. PhonePe (now part of Flipkart)
PhonePe started in 2015 and in just 4 years it has been able to cross the 100 million
download mark. From UPI payments to recharges, money transfers to online bill
payments, you can do it all on PhonePe. Its got a very good user interface and is one
of the safest and fastest online payment experience in India.
5. Mobikwik

reference to Paytm
MobiKwik is an independent mobile payment network that supposedly connects 25

million users with 50,000 retailers and more. This mobile wallet lets its users add
money using debit, credit card, net banking and even doorstep cash collection service,
which can in turn be used to recharge, pay utility bills and shop at
marketplaces. Owing to the growing need for convenience, MobiKwik has also
recently tied up with large and small time grocery, restaurants and other offline
merchants.
Another unique feature they have is their expense tracker which allows to set budget
for your expenses across all payment instruments and it uses your SMS data to
analyse and control spends.
6. Yono by SBI
This mobile wallet application was launched by State Bank of India to let users
transfer money to other users and bank accounts, pay bills, recharge, book for movies,
hotels, shopping as well as travel. This semi-closed prepaid wallet offers its services
in 13 languages and is available for non-SBI customers as well. This app also allows
its customers to set reminders for dues, money transfers and view the mini-statement
for the transactions carried out.
7. Citi MasterPass
Citi Bank India and MasterCard recently launched 'Citi MasterPass', India's first
global digital wallet for faster and secure online shopping.
By using this, Citi Bank debit and credit card customers become the first in this
country to be able to shop at more than 250,000 e-commerce merchants. It ensures
faster checkout with a single click or touch and stores all your credit, debit, prepaid,
loyalty cards and shipping details in one place.

reference to Paytm
8. ICICI Pockets
Pockets by ICICI is a digital bank that offers a mobile wallet for its customers. It
provides the convenience of using any bank account in India to fund your mobile
wallet and pay for transactions.
With Pockets, one can transfer money, recharge, book tickets, send gifts and split
expenses with friends. This wallet uses a virtual VISA card that enables its users to
transact on any website or mobile application in India and provides exclusive deals or
packages from associated brands.
Number of installs: 5,000,000+ (5 Million or 0.5 crore) on Android Play Store
9. HDFC PayZapp
PayZapp is a complete payment solution giving you the power to pay in just One
Click. PayZapp lets you recharge your mobile, DTH and data card, pay utility bills,
compare and book flight tickets, bus and hotels, shop, buy movie tickets, music and
groceries, avail great offers at SmartBuy, and send money to anyone in your phone
book.
10. BHIM Axis Pay
BHIM Axis Pay is a UPI banking app that lets you transfer money instantly to anyone
using just your smartphone. Make online recharges to your prepaid mobile and DTH
set-top boxes directly from the app.
Number of installs: 1,000,000+ (1 Million or 0.1 crore) on Android Play Store
Data on digital payments in India
And here are some interesting findings on digital payment adoption from the recent
ACI Survey:
While these numbers indicate the growing need for secure, faster and efficient
payment methods for online marketplace, efforts to make payments to individual or
brick & mortar stores is also increasing. Start-ups and huge corporates are constantly

reference to Paytm
on the lookout for customer-friendly technology, thereby giving more power to the
customer.
Need a few financial tips to handle your money wisely? Follow our YouTube channel
Paisa Pujari for more insights. Here's a video to help you understand the smart ways
to use a credit card:

reference to Paytm
Chapter – 4
Analysis of data and Interpretation
 Tables
 Graphs
 Interpretations

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Analysis of data and interpretation

Analysis is the process of breaking a substance into smaller part of it. The data serves
as the basis for analysis. Analysis of data means studying the original material to
discover the inherent facts. It helps to know the things easily. This data collected by
preparing questionnaire and meet the respondents after this analysis and interpretation
is made by gathered data. The research data becomes meaningful only after being
analyzing and interpreting the collected data.
Collecting inner expressions and respondents for the purpose of knowing their
attitude towards particular aspects of subject. Interpretation is the action of explaining
the meaning of something. The interpretation of data means an explanation or way of
explaining the collected data. This can be analyzed and interpreted using tables, charts
and graphs. It helps to interpret the findings in a better manner..

reference to Paytm
Table No: 4. 1
Table showing on the basis of Gender factor
Gender No of Respondents Percentage

Male 28 56
Female 22 44
Total 50 100%
Source: Field Survey
Chart No: 4.1
60 56
50
44
40
30
20
10
0
Male Female
Interpretation
The Above Table shows that 56% of the respondents are Male and remaining 44 % of
the respondents are Female.
Its interprets that Majority of the respondents are Male.(56%)

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Table No: 4. 2
Table shows on the basis of Respondent’s Marital Status
Marital Status No of Respondents Percentage
Married 30 60
Un married 20 40
Total 50 100%
Chart No: 4. 2
70
60
60
50
40
40
30
20
10
0
Married Un married
Interpretation
From the above table it shows that 60% of the respondents are married and 40% of the
respondents are unmarried
Its interprets that Majority of the respondents are married (60%).

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Table No: 4. 3
Table shows on the basis of Respondent’s Age Group
Age group No of Respondents Percentage
Below 30 14 28
Between 31-40 18 36
Between 41-50 10 20
Above 51 years 8 16
Total 50 100%
Chart No: 4.3
40
36
35
30 28
25
20
20
16
15
10
0
Below 30 Between 31-40 Between 41-50 Above 51 years
Interpretation
From the above observation, it is clearly understands that 28% of the Respondents age
group of Below 30, 36% of the respondents age group of between 31 to 40, 20% of
the respondents age group of between 41 to 50 and 16% of the respondents age group
of above 51 years.
Its interprets that Majority of the respondents age group of between 31 to 40 (36%).

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Table No: 4
Table shows on the basis of Respondent’s Educational Qualification

Educational Qualifications No of Respondents Percentage
SSLC 4 8
PUC 8 16
Graduation 16 32
Post Graduation 14 28
Others 8 16
Total 50 100
Sources: Field Survey
Chart No: 4.4
35 32
30 28
25
20
16 16
15
10 8
0
SSLC PUC Graduation Post Others
Graduation
Interpretation
Out of the 50 respondents, 8% of the respondents educational qualification is SSLC,
16 % of the respondents educational qualification is PUC, 32% of the respondents
educational qualification is Graduation, 28% of the respondents educational
qualification is Post graduation and 16% of the respondents educational qualification
is Others.
Its interprets that Majority of the respondents educational qualification is Graduation
(32%).

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Table No: 4. 5
Table shows on the basis of Respondent’s Monthly Income
Monthly Income in(INR) No of Respondents Percentage
Less than 10000 15 30
Rs. 10000- Rs 15000 18 36
Rs 15000- Rs 20000 7 14
Above Rs. 20000 10 20
Total 50 100%
Chart No: 4.5
20%
30% Less than 10000
Rs. 10000- Rs 15000
14% Rs 15000- Rs 20000
Above Rs. 20000
36%
Interpretation
As per the above analysis it’s understood that, 30% of the respondents monthly
income group less than Rs. 10000 per month, 36% of the respondents monthly income
group Rs. 10000 – Rs. 15000 per month, 14% of the respondents monthly income
group Rs.15000 – Rs.20000 per month and 20% of the respondents monthly income
group Above Rs. 20000 per month.
Its interprets that Majority of the respondents monthly income group Rs. 10000 – Rs.
15000 per month (36%)

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Table No: 4. 6
Table shows area of respondents
Particulars No of Respondents Percentage
Rural 5 10
Urban 45 90
Total 50 100%
Chart No: 4.6
10
90
Interpretation
The above table and chart states that 90% of the respondents are from urban area and
10 % of the respondents are from rural area.
Its interprets that Majority of the respondents are from urban area (90%).

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Table No: 4. 7
Table shows respondents have account in Paytm App
Particular No of Respondents Percentage
Yes 44 88
No 6 12
Total 50 100%
Chart No :4.7
100
88
90
80
70
60
50
40
30
20 12
10
0
Yes No
Interpretation
The above table and chart states that 88% of the respondents are having Paytm
account and 12% of the respondents are not having paytm account.
Its interprets that Majority of the respondents are having Paytm account (88%).

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Table No: 4.8

Table shows how long respondent have been the customer of Paytm
One month 15 30
2 to 5 month 10 20
6 to 8 month 20 40
Above 8 month 5 10
Total 50 100%
Chart No: 4. 8
One month 2 to 5 month 6 to 8 month Above 8 month
10%
30%
40%
20%
Interpretation
The above table and chart states that, 10% of the respondents know Paytm from 6 to 8
months, 30% of the respondents know Paytm from one month, 40% of the
respondents know Paytm from 6 to 8 month and 20% of the respondents know Paytm
from 2 to 5 months.
Its interprets that Majority of the respondents know Paytm from 6 to 8 month (40%).

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Table No: 4.9
Table shows which of the transaction respondent visited in Paytm

Money Transfer 19 38
Mobil Recharge 13 26
Shopping 5 10
Online ticket booking 3 6
Bill payments 10 20
Total 50 100%
Chart No: 4.9
Bill payments 20
Online ticket booking 6
Shopping 10
Mobil Recharge 26
Money Transfer 38
0 10 20 30 40
Interpretation
The above table and chart states that 38% of the respondents visited for Money
transfer in Paytm , 26% of the respondents visited for Mobil Recharge in Paytm, 20%
of the respondents visited for Bill payments in Paytm, 10% of the respondents visited
for shopping in Paytm and 6% of the respondents visited for online ticket booking in
Paytm.
Its interprets that Majority of the respondents visited for Money transfer in Paytm
(38%)

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Table No: 4. 10
Table shows respondents ever booked any Movie Ticket through Paytm
Yes 44 88
No 6 12
Total 50 100%
Chart No :4.10
100
88
90
80
70
60
50
40
30
20 12
10
0
Yes No
Interpretation
The above table and chart states that 88% of the respondents have booked Movie
Ticket through Paytm and 12% of the respondents are not booked Movie Ticket
through Paytm
Its interprets that Majority of the respondents have booked Movie Ticket through
Paytm (88%).

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Table No: 4. 11
Table shows respondent use any other digital payment accounts
Yes 24 48
No 36 52
Total 50 100%
Chart No: 4.11
52
No
48
Yes
46 47 48 49 50 51 52
Interpretation
The above table and chart states that, 48% of the respondents use other digital
payment accounts and 52% of the respondents not use other digital payment accounts.
Its interprets that Majority of the respondents use other digital payment accounts
(48%).

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Table No: 4.12
Table shows respondent use other digital payment account

Phonepe 6 12
Bhim 25 50
Tez 11 22
Others 08 16
Total 50 100%
Chart No:4. 12
16 12
Phonepe
Bhim
22 Tez
Others
50
Interpretation
The above table and chart states that, 50% of the respondents use Bhim Apps, 22% of
the respondents use Tez App, 16% of the respondents use other apps and 12% of the
respondents use phonepe.
Its interprets that Majority of the respondents use Bhim Apps (50%)

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Table No: 4.13
Table shows respondent Paytm Bank Account

Yes 24 48
No 36 52
Total 50 100%
Chart No: 4. 13
53
52
52
51
50
49
48
48
47
46
Yes No
Interpretation
The above table and chart states that, 48% of the respondents have Paytm Bank
Account . and 52% of the respondents they don’t have Paytm Bank Account
Its interprets that Majority of the respondents have Paytm Bank Account (48%).

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Table No: 4.14

Table shows quality services provided by Paytm
Highly satisfied 8 16
Satisfied 42 84
Somewhat satisfied 0 0
Unsatisfied 0 0
Total 50 100%
Chart No: 4. 14
90 84
80
70
60
50
40
30
20 16
10
0 0
0
Highly satisfied Satisfied Somewhat satisfied Unsatisfied
Interpretation
The above table and chart states that, 84% of the respondents are Satisfied with
quality services provided by Paytm and 16% of the respondents are Highly Satisfied
with quality services provided by Paytm.
Its interprets that Majority of the respondents are Satisfied with quality services
provided by Paytm (84%).

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Table No: 4.15

Table shows how often respondents use Paytm App
Often 28 56
Very often 12 24
Rare 6 12
Very rare 4 8
Total 50 100%
Chart No: 4. 15
60
50
40
30 56
20
24
10 12 8
0
Often Very often Rare Very rare
Interpretation
The above table and chart states that 56% of the respondents often use Paytm App,
24% of the respondents very often use Paytm App , 12% of the respondents rarely
use Paytm App and 4% of the respondents very rarely use Paytm App
Its interprets that Majority of the respondents often use Paytm App (56%).

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Table No: 4. 16
Table shows Respondent feel while you using Paytm App
Excellent 36 72
Good 13 26
Average 1 2
Terrible 0 0
Total 50 100%
Chart No: 4. 16
20
26
Excellent
72 Good
Average
Terrible
Interpretation
The above table and chart states that, 72% of the respondents feel excellent about
Paytm app, 26% of the respondents feel goodt about Paytm app and 2% of the
respondents feel average about Paytm app.
Its interprets that Majority of the respondents feel excellent about Paytm app (72%).

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Table No: 4.17

Table shows charges for money transfer to bank
0.5% 8 16
1% 24 48
2% 18 36
Above 2% 0 0
Total 50 100%
Chart No: 4.17
60
50 48
40 36
30
20 16
10
0
0
0.50% 1% 2% Above 2%
Interpretation
The above table and chart states that, 16% of the respondent says 0.5% charged to
transfer money to bank, 48% of the respondent says 1% charged to transfer money to
bank and 36% respondent says 2% charged to transfer money to bank.
Its interprets that Majority of the respondent says 1% charged to transfer money to
bank (48%).

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Table No: 4. 18
Table shows respondents opinion about service offered by Paytm

Very Average Not bad
Factors Good
good
Money Transfer 64 24 12 0
Mobile Recharge 40 16 32 12
Online Booking 44 32 24 0
Online Payment 18 26 40 16
Online shopping 40 24 26 10
Chart No: 4. 18
70 64
60
50 44
40 40 40 Very good
40 32 32
26 Good
30 24 24 2426
16 18 16 Average
20 12 12 10
10 Not bad
0 0
0
Money Mobile Online Online Online
Transfer Recharge Booking Payment shopping
Interpretation
The above table and chart states that 64% of the respondents opines very good for
money transfer services of Paytm app, 40% of the respondents opines very good for
Mobile recharge services of Paytm app, 44% of the respondents opines very good for
Online booking services of Paytm app, 40% of the respondents opines average for
online payment services of Paytm app and 40% of the respondents opines very good
for online shopping services of Paytm app.
Its interprets that majority of the respondents opines very good for money transfer
services of Paytm app (64%)

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Table No: 4.19
Table shows overall service of Paytm App

Factors Excellent Good Average Poor
Customer Service 60 20 20 0
Hidden charges 22 50 28 0
Time available 84 8 8 0
Promotional schemes 78 22 0 0
Overall performance 20 54 24 2
Chart No: 4.19
90 84
78
80
70 60
60 50 54
Excellent
50
40 Good
28
30 2020 22 22 20 24 Average
20 8 8
10 0 0 0 0 0 2 Poor
0
Customer Hidden Time Promotional Overall
Service charges available schemes performance
Interpretation
The above table and chart states that, 60% of the respondents opines that customer
services is excellent, 50% of the respondents opines that hidden charges are average,
84% of the respondents opines that time availability is excellent , 78% of the
respondents opines that promotional schemes is excellent and 54 % of the respondents
opines that overall performance is good.
Its interprets that majority of the respondents opines that promotional schemes is
excellent (78%).

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Table No: 4.20
Table shows overall digital payments have been received in your Business pre
and post demonetization
Before demonetization Percent After demonetization Percent

Monthly (0 to 25) 65 Monthly (0 to 25) 15
Source
Graph No. 4.20
70 65
60
50
40
40
30 25
20 20
20 15
10
10 5
0
Monthly Monthly Monthly Monthly Monthly Monthly Monthly Monthly
(0 to 25) (26 to 50) (51 to 75) (76 to (0 to 25) (26 to 50) (51 to 75) (76 to
100) 100)
Before demonetization After demonetization
Analysis and Interpretation
The above table and graph clearly showing that after Demonetization Digital Payment
as arise constantly. Till Demonetization Customer are paying directly after
demonetization they do Digital Paymentss

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Table No: 4. 21
Table shows Respondent kind of promotional activities were marketing agencies
theirs digital payment solutions after Demonetization
Brochures 15 30
Stickers 13 26
Digital Campaign 17 34
Promoting through innovative
way like (conduct micro atm). 5 10
Total 50 100%
Chart No: 4. 21
40
34
35 30
30 26
25
20
15 10
10
5
0
Brochures Stickers Digital Campaign Promoting through
innovative way like
(conduct micro atm).
Interpretation
The above table and chart states that 30% of the respondents belongs to use brochures
for marketing digital payment , 26% of the respondents belongs to use Stickers for
marketing digital payment , 34% of the respondents belongs to use Digital campaign
for marketing digital payment , 10% of the respondents belongs to use Promoting
through innovative way like (conduct micro atm).for marketing digital payment.
Its interprets that majority of the respondents belongs to use Digital campaign for
marketing digital payment (34%).

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Table No: 4. 22
Table shows Respondent kind of offers rendered by the marketing agencies to
make accept theirs digital payment mode in business
Offers rewards on payments 17 34
Offers supplementary products 19 38
Offer infrastructure
development activities ( banner
design, paintings , furniture's
Etc) 14 28
Total 50 100%
Chart No: 4. 21
40 34 38
35 28
30
25
20
15
10
5
0
Offers rewards on payments Offers supplementary Offer infrastructure
products development activities (
banner design, paintings ,
furniture's Etc)
Interpretation
The above table and chart states that 34% of the respondents belongs to Offers
rewards on payments rendered by the marketing agencies , 38% of the respondents
belongs to Offers supplementary products rendered by the marketing agencies , 28%
of the respondents belongs to Offer infrastructure development activities ( banner
design, paintings , furniture's Etc) rendered by the marketing agencies.
Its interprets that majority of the respondents belongs to Offers supplementary

products rendered by the marketing agencies(38%).

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Table No: 4. 23
Table shows respondent frequently engaged in Promotional activities

Axis Pay 9 18
Paytm 11 22
Sbipay 13 26
Bhim 7 14
Phone pay 5 10
Free charge 5 10
Others 0 0
Total 50 100%
Chart No: 4. 23
30
26
25 22
20 18
14
15
10 10
10
5
0
0
Axis Pay Paytm Sbipay Bhim Phone pay Free charge Others
Interpretation
The above table and chart states that, 18% of the respondents use Axis pay in
promotional activities, 22% of the respondents use Pay tm in promotional activities ,
26% of the respondents use Sbi pay in promotional activities , 14% respondents use
Bhim in promotional activities, 10% of the respondents use Phone pay in promotional
activities , 10% of the respondents use Free charge in promotional activities .
Its interprets that Majority of the respondents use Sbi pay in promotional activities
(26%).

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Table No: 4. 24
Table shows respondents acceptance level towards following statements
Digital payment initiative

SD
taken by our central SA A N D
government
EASE OF USE 50 20 10 20 0
I prefer digital payment
platforms as it brings flexibility 60 30 10 0 0
in carrying out my Tasks.
I prefer to use the digital
payment platforms for my
70 20 10 0 0
business as they are always
available.
platform for my work as they 50 40 10 0 0
are easy to use
Usefulness 60 40 0 0 0
platform as I can carry to the 50 40 10 0 0
place of my trade.
I prefer to use digital payment
platform for work as it increases 70 10 20 0 0
the customer walk ins.
platform as it is as per my need 50 40 10 0 0
and requirement.
Safety 80 10 10 0 0
I feel safe in my transactions
with the digital payment 60 20 20 0 0
platform.
I trust the digital payment
platform to keep my personal 50 50 0 0 0
information safe.
I trust to use digital payment
platform for financial 70 20 10 0 0
transactions.
Perception 60 40 0 0 0
I feel that demonetization has
positively impacted the digital 80 10 10 0 0
payment mode.
I support the digital payment 50 40 10 0 0

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initiative taken by our central

government.
I feel that demonetization brings
transparency in the business 60 30 10 0 0
transaction
I feel that increasing the level of
digital payments will help the 70 20 10 0 0
economy to grow.
I feel that the incentives for
using the digital mode will
50 40 10 0 0
increase the digital transaction
among the public.
Chart No: 4. 24
90
80 80
80
70 70 70 70
70
60 60 60 60 60
60
50 50 50 50 50
50 50 50
50
40 40 40 40 40 40 40
40
30 30
30
20
20 20 20 20
20 20 20
20
10 10 10 10 10 10 10 10
10 10 10
10 10 10 10 10 Strongly Agree
10 Agree
0 00 00 00 000 00 00 00 00 00 000 00 000 00 00 00 00 00
0 Neutral
Disagree
Strongly disagree

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Analysis and Interpretation
 50% of the Respondents are strongly agreed with Ease of use

 60% of the Respondents are strongly agreed with I prefer digital payment
platforms as it brings flexibility in carrying out my Tasks.
 70% of the Respondents are strongly agreed with I prefer to use the digital
payment platforms for my business as they are always available.
platform for my work as they are easy to use
 60% of the Respondents are strongly agreed with Usefulness
platform as I can carry to the place of my trade.
 70% of the Respondents are strongly agreed with I prefer to use digital
payment platform for work as it increases the customer walk ins.
platform as it is as per my need and requirement.
 80% of the Respondents are strongly agreed with Safety
 60% of the Respondents are strongly agreed with I feel safe in my transactions
with the digital payment platform.
 50% of the Respondents are strongly agreed with I trust the digital payment
platform to keep my personal information safe.
 70% of the Respondents are strongly agreed with I trust to use digital payment
platform for financial transactions.
 60% of the Respondents are strongly agreed with Perception
 80% of the Respondents are strongly agreed with I feel that demonetization
has positively impacted the digital payment mode.
 50% of the Respondents are strongly agreed with I support the digital payment
initiative taken by our central government.
 60% of the Respondents are strongly agreed with I feel that demonetization
brings transparency in the business transaction

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 70% of the Respondents are strongly agreed with I feel that increasing the
level of digital payments will help the economy to grow.
 50% of the Respondents are strongly agreed with I feel that the incentives for
using the digital mode will increase the digital transaction among the public.

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Chapter – 5
Findings, Suggestions and Conclusion
5.1 Findings
5.2 Suggestions
5.3 Conclusion

reference to Paytm
Findings, Suggestions and Conclusion

5.1 Findings
 56% of the respondents are Male

 60% of the respondents are married
 36% of the respondents age group of between 31 to 40
 32% of the respondents educational qualification is Graduation,
 Majority of the respondents monthly income group Rs. 10000 – Rs. 15000 per
month (36%)
 Majority of the respondents are from urban area (90%).
 Majority of the respondents are having Paytm account (88%).
 Majority of the respondents know Paytm from 6 to 8 month (40%).
 Majority of the respondents visited for Money transfer in Paytm (38%)
 Majority of the respondents have booked Movie Ticket through Paytm (88%).
 Majority of the respondents use other digital payment accounts (48%).
 Majority of the respondents use Bhim Apps (50%)
 Majority of the respondents have Paytm Bank Account (48%).
 Majority of the respondents are Satisfied with quality services provided by
Paytm (84%).
 Majority of the respondents often use Paytm App (56%).
 Majority of the respondents feel excellent about Paytm app (72%).
 Majority of the respondent says 1% charged to transfer money to bank (48%).
 that majority of the respondents opines very good for money transfer services
of Paytm app (64%)
 majority of the respondents opines that promotional schemes is excellent
(78%).
 after Demonetization Digital Payment as arise constantly. Till Demonetization
Customer are paying directly after demonetization they do Digital Paymentss

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 majority of the respondents belongs to use Digital campaign for marketing

digital payment (34%).
 majority of the respondents belongs to Offers supplementary products
rendered by the marketing agencies(38%).
 Majority of the respondents use Sbi pay in promotional activities (26%).

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5.2 Suggestions
 Digital payment services across the country faces a major issue of lack of
awareness regarding their benefits and uses. Majority of Indians are still
reluctant to use digital payments because of security and safety issues. The
digital payment companies must take important steps to gain their customer’s
trust. Measures such as efficient and effective customer care services, 3-D or
OTP security, data back-up system etc can be taken to increase awareness
among people.
 There is an urgent need for a safe, trustworthy, flexible, cross platform,
official mobile wallet applications in order to gain consumer’s trust to face the
liquidity crunch in the economy. Consumers still do not have trust in online
payments because of the increasing incidence of fraud cases and internet theft
as use of the Adhaar card is not mandatory. Digital payments need to be made
as prejudiced vehicles for convenient cash transfer, and if the government is
pushing for a cashless economy, as vegetable and fruit sellers have now
started accepting payments through wallets. Government should take steps to
ensure people of India that there will be no online theft and their money will
be secure in their wallet
 Limited amount can be transacted or transferred through m-wallets which is a
part of digital payments mode in a month which hinders the Indian digital
payments market. M-wallet companies should increase the limit of number of
transactions and transaction amount even in the case of basic account
 The regulatory policy of the digital payment industry is quite cumbersome and
involves inflexible and complicated terms and conditions which make it
difficult for companies to decide whether their product needs RBI approval or
not. Crystal clear policies and a common regulatory body for all digital
payments are required. The existence of such body would bring clarity in
procedures between the major digital paymemt layers and the RBI.

reference to Paytm
 The digital payment operators should focus on bringing new and innovative
offers so as to attract more and more consumers and people to adopt the digital
payment modes and strategies This would attract customers and bring in more
divers group of peoples thus making the digital payment modes more
diversified and versatile.
 Digital payment modes such as e-wallets, unified payment interface (UPI) are
not compatible with all type of operating systems, they are only compatible
with one or few operating systems therefore there is a need for technological
advancement by the e -wallets so that they become compatible with all
operating systems and they do not have to pay extra money every time to
launch their application on a new platform. They must develop a common
platform to save money and time. This would ultimately result in reduction in
cost and expansion in user base and revenue.

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5.3 Conclusion
The above findings clearly indicate and statistically prove that the volume of financial
transactions generated in the months subsequent to the announcement of
demonetization of currency notes are significantly different than those which occurred
in the period prior to it.Thus the results highlight that how Indian citizens have
adapted themselves to new kind of financial system. However, while comparing
slopes of pre and post demonetization phase, post demonetization trend does not
exhibit sharp rise in RTGS, NEFT and mobile transactions. Above findings are in
context of short span of time i.e., 22 months. Demonetization is not supposed to bring
sustained shift towards digital transaction. In order to bring permanent change toward
cashless transactions, continuous education, awareness and technological innovations
accompanied by sustainable digital payment ecosystem is a crucial concern.
Demonetization has opened many inroads in the digital payment system in India.
People are now becoming less apprehensive of technology, and are becoming
comfortable with the digital world with very passing day. The software industry has
also been given a big boost. The e-commerce industry did suffer with the onset of
demonetization, has now tremendous scope for growth. Although extremely
beneficial and very convenient, the digital payment system is not without its own
share of flaws. The security of these methods are nowhere near perfect, and this is one
software sector which will see massive improvements in the coming few years

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Questionnaire
Respected Sir / Madam,
I am Akhil. S. Student of Final year BBA in PESIAMS College,

Shivamogga as a part of my academic study I have undertaken a project report on
“A Study on Impact of Demonetization on Payment with reference to Shivamogga”
I request you to fill the following questions and do the needful. The information
provided by you will be used strictly for academic purposes.
Thanking you,
Yours sincerely,
Akhil. S.
Name : ____________________
Address : ____________________
____________________
1. Gender
i) Male [ ]
ii) Female [ ]
2. Marital status:
i) Married [ ]
ii) Unmarried [ ]
3. Age:
i) Below 30 years [ ]
ii) Between 31-40 [ ]
iii) Between 41 – 50 [ ]
iv) Above 51 Years [ ]
4. Educational qualification
i) SSLC [ ]
ii) PUC [ ]
iii) Graduate [ ]
iv) Post Graduate [ ]
v) Others [ ]
5. Monthly income
i) Less than 10000 [ ]
ii) 10000-15000 [ ]

reference to Paytm
iii) 15000-20000 [ ]
iv) Above 20000 [ ]
6. Area belongs to
i) Rural [ ]
ii) Urban [ ]
7. Do you have any account in Paytm App ?

i) Yes [ ]
ii) No [ ]
8. From how many years you have been the customer of Paytm?
i) One month [ ]
ii) 2 to 5 months [ ]
iii) 6 – 8 months [ ]
iv) Above 8 months [ ]
9. For which of the following transactions you use Paytm App
i) Money Transfer [ ]
ii) Mobile Recharge [ ]
iii) Shopping [ ]
iv) Online ticket booking [ ]
v) Bill Payment [ ]
vi) All of these [ ]
10. Have you ever booked any Movie Ticket through Paytm?
i) Yes [ ]
ii) No [ ]
11. Apart from Paytm do you have any digital payment account?
i) Yes [ ]
ii) No [ ]
12. If yes please specify?
i) Phonepe [ ]
ii) Bhim [ ]
iii) Tez [ ]
iv) others [ ]
13. Do you have Paytm Bank Account
i) Yes [ ]
ii) No [ ]
14. Are you satisfied with the quality of service provided by Paytm?
i) Highly satisfied [ ]
ii) Satisfied [ ]
iii) Some What Satisfied [ ]

reference to Paytm
iv) Unsatisfied [ ]
15. How often do you use Paytm App?

i) Often [ ]
ii) Very often [ ]
iii) Rare [ ]
iv) Very Rare [ ]
16. How do you feel while you using Paytm App?
i) Excellent [ ]
ii) Good [ ]
iii) Average [ ]
iv) Terrible [ ]
17. How much charge if you send / transfer money to Bank?
i) 0.5% [ ]
ii) 1% [ ]
iii) 2% [ ]
iv) Above 2% [ ]
18. What is the opinion about Service offered by Paytm?
Procedure Very Good Good Average Not Bad
Money Transfer
Mobile Recharge
Online Booking
Online Payment
Online Shopping
19. What do you think about overall service Paytm App?
Attitude Excellent Good Average Poor
Customer Service
Hidden Charges
Time Available
Promotional Schemes
Overall Performance
20. What range of digital payments have been received in your Business pre and post
demonetization?
Before demonetization After demonetization
a) Monthly (0 to 50) a) Monthly (0 to 50)

reference to Paytm
b) Monthly (50 to 100) b) Monthly (50 to 100)

c) Monthly (100 to 200) c) Monthly (100 to 200)
d) Monthly (above 200) d) Monthly (above 200)
21. What kind of promotional activities were marketing agencies Engaged on

promoting theirs digital payment solutions after Demonetization?
i) Brochures
ii) Stickers
iii) Digital campaign
iv) Promoting through innovative way like( conduct micro atm)
22. What kind of offers rendered by the marketing agencies to make You accept theirs
digital payment mode in your business?
i) Offer rewards on payments
ii) Offer supplementary products
iii) offer infrastructure development activities ( banner design, Paintings,
furniture’s etc)
23. Which of the following are most frequently engaged in Promotional activities?
i) Axis pay
ii) Paytm
iii) Sbipay
iv) Bhim
v) PhonePay
vi) Freecharge
vii) Others
24. Please stats your acceptance level towards following statements
(1 - Strongly Agree, 2 – Agree, 3 – Neutral, 4 -Disagree, 5 - Strongly disagree)
Digital payment initiative taken by our central government 1 2 3 4 5
EASE OF USE
I prefer digital payment platforms as it brings flexibility in carrying
out my Tasks.

reference to Paytm
I prefer to use the digital payment platforms for my business as they

are always available.
I prefer digital payment platform for my work as they are easy to use
Usefulness
I prefer digital payment platform as I can carry to the place of my
trade.
I prefer to use digital payment platform for work as it increases the
customer walk ins.
I prefer digital payment platform as it is as per my need and
requirement.
Safety
I feel safe in my transactions with the digital payment platform.
I trust the digital payment platform to keep my personal information
safe.
I trust to use digital payment platform for financial transactions.
Perception
I feel that demonetization has positively impacted the digital payment
mode.
I support the digital payment initiative taken by our central
government.
I feel that demonetization brings transparency in the business
transaction
I feel that increasing the level of digital payments will help the
economy to grow.
I feel that the incentives for using the digital mode will increase the
digital transaction among the public.
25. Any suggestion to Paytm for providing better service to customers

………………………………………………………………………………………
………………………………………………………………………………………
Thank you for the time you have spared for the interview. Your suggestions will
enable service providers to improve and enhance their services to suit their customer’s
requirements.
Date : …………… ……………………….
Place: …………… (Signature)

reference to Paytm
Bibliography
Ridam Verma and Dr. Rishi Manrai (2019) - “Demonetization and Impact on
Digital Payments”, Journal of General Management Research, Vol. 6, Issue 2, July
2019, pp. 48–60
Dr. Ajay Pratap Yadav & Dr. Awadhesh Kumar Tiwari (2018) -“Analysis of
Impact of Demonetization on Digital Transactions in India”, Journal of Business and
Management, Volume 20, Issue 4. Ver.III (April. 2018), PP 21-28
Dr. Chhavi Jain (2018) - “Digital Payments and Demonetization” , International

Journal of Research and Analytical Reviews, Volume 5, Issue 1, Jan. – March 2018
&
Mahasweta Roy (Dutta) , Arindam Das(2018) -“Impact of demonetization on
adoption of digital banking services in India: a case study in rural and suburban area
of West Bengal”, Indian Journal of Economics and Development, Vol 6 (10), October
2018
Dr.S.Vasantha & Dr.S.Meena (2018) -“Influence of Demonetization on Mobile

Payment Adoption & Cashless Transaction”, International Journal of Management,
Technology And Engineering, Volume 8, Issue XII, DECEMBER/2018 ISSN NO :
2249-7455 Page No:4458
Piyush Kumar (2017), “Demonetization And Its Impact On Adoption Of Digital

Payment: Opportunities, Issues And Challenges”, Abhinav National Monthly
Refereed Journal of Research in Commerce & Management, Volume 6, Issue 6 (June,
2017)
Tanya Sanatani (2017) -“Effects of Demonetization on Digital Payment Systems in

India”, International Journal of Computer Science and Network Security, VOL.17
No.11, November 2017

Impact of Demonetization on Digital Payments

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.

BACHELOR OF BUSINESS ADMINISTRATION

UNDER THE GUIDANCE OF

Mr. VINAY KUMAR K.S

PES Institute of Advanced Management Studies,

This is to certify that AKHIL. S bearing the Register No. BB178904 of VI

Mr. Vinay Kumar K.S Dr. G M Sudharshan Dr.K.Sailatha

I hereby declare that the project work entitled “A Study on Impact of

Chapter Chapter name Page No.

3. Conceptual Frame Work 27 – 43

Analysis of data and interpretation 44 – 72

Findings, Suggestions And Conclusion 73 – 78

Table no Title Page no

4.1 Table showing on the basis of Gender factor 46

Graph no Title Page no

4.1 Table showing on the basis of Gender factor 46

4.2 Table shows on the basis of Respondent’s Marital Status 47

4.3 Table shows on the basis of Respondent’s Age Group 48

4.4 Table shows on the basis of Respondent’s Educational Qualification 49

4.5 Table shows on the basis of Respondent’s Monthly Income 50

4.6 Table shows area of respondents 51

4.7 Table shows respondents have account in Paytm App 52

4.9 Table shows which of the transaction respondent visited in Paytm 54

4.12 Table shows respondent use other digital payment account 57

4.13 Table shows respondent Paytm Bank Account 58

4.14 Table shows quality services provided by Paytm 59

4.15 Table shows how often respondents use Paytm App 60

4.17 Table shows charges for money transfer to bank 62

4.18 Table shows respondents opinion about service offered by Paytm 63

4.19 Table shows overall service of Paytm App 64

PESIAMS, Shivamogga Page 1

Demonetization means withdrawing the legal tender rights of any denomination of

“Demonetization is withdrawing a currency in circulation and demolishing its legal

PESIAMS, Shivamogga Page 2

1.2 Review of Literature

PESIAMS, Shivamogga Page 3

PESIAMS, Shivamogga Page 4

Dr.S.Vasantha & Dr.S.Meena (2018), in their article about “Influence of

Piyush Kumar (2017), in his journal on “Demonetization And Its Impact On

PESIAMS, Shivamogga Page 5

Tanya Sanatani (2017), in her journal on “Effects of Demonetization on Digital

1.3 Need for the study

1.4 Statement of the problem

PESIAMS, Shivamogga Page 6

1.5 Objectives of the study

 To analyze the impact of demonetization on Digital Payment System using

PESIAMS, Shivamogga Page 7

1.7 Scope of the Study

1.8 Research Methodology

The research design is probability research design and is descriptive research.

Sources of data collection

1.9 Sampling design

PESIAMS, Shivamogga Page 8

To carry out this project Convenience technique has been used

Tools for data collection:

1.10 Limitations of the Study

 The Present study is restricted to Shivamogga City only

PESIAMS, Shivamogga Page 9

PESIAMS, Shivamogga Page 10

PESIAMS, Shivamogga Page 11

2.2 Company profile

Type of business Private