“A STUDY ON PAYMENT METHODS USED BY MERCHANTS OF

DIFFERENT SECTOR”

SUBMITTED TO

INTERNATIONAL SCHOOL OF BUSINESS & MEDIA

IN PARTIAL FULFILMENT OF THE REQUIREMENTS

FOR THE AWARD OF THE DEGREE OF

POST GRADUATE DIPLOMA IN MANAGEMENT

BY

UTKARSH BALAMWAR

(2020-2022)

UNDER THE ESTEEMED GUIDANCE OF

FACULTY MENTOR COMPANY MENTOR

Prof Ruma Bnerjee Mr. Rohit Bezalwar

Faculty, ISB&M Acquisition Manager (Kantar)

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 DECLARATION

This is to declare that I “UTKARSH BALAMWAR” student of International

School of Business and Media, batch 2019-2021 has given original data and

information to the best of my knowledge in this Summer Internship Report

(SIP) on the project titled An Analysis of “PAYMENT METHODS USED

BY MERCHANTS OF DIFFERENT SECTOR” is a record of independent

work carried out by me under the guidance and supervision of

“Prof Ruma Banerjee” towards the partial fulfillment of requirement for the

PGDM program.

Signature of Student: Utkarsh Balamwar

Date: 27th June 2021

Signature of SIP Guide

Date:

Signature of Chairperson Academics

Date:

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 ACKNOWLEDGEMENT

There are so many people who are responsible for the success of this project.

There are a few specific names that I would like to mention here who have

helped me a lot.

I respect and thank Mr. Rohit Bezalwar for providing me an opportunity to do

the project work in KANTAR Group and giving me all support and guidance

which made me complete the project duly. I am extremely thankful to him for

providing such a nice support and guidance, although he had busy schedule

managing the company business.

I owe my deep gratitude to my mentor Mr. Rohit Bezalwar and his team who

took keen interest on our project work and guided us all along, till the

completion of our project work by providing all the necessary information for

developing a good system.

I would not forget to remember Prof. Ruma Banerjee for their encouragement

and more over for their timely support and guidance till the completion of my

project work.

I am thankful to and fortunate enough to get constant encouragement, support

and guidance from all Teaching staffs of INTERNATIONAL SCHOOL OF

BUSINESS AND MEDIA which helped me in successfully completing my

project work.

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COMPANY CERTIFICATE

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 SIP FEEDBACK

INTERNATIONAL SCHOOL OF BUSINESS & MEDIA

SUMMER TRAINING – EVALUATION SHEET

This feedback form is intended to provide the students with an analysis of their performance during the period of
summer training. A sincere and honest feedback will help the institute and students to look up into the skills sets,
which need to be developed and also into those areas of concern, which need to be improved. Hence, it is expected
the feedback is given its due importance so as to help students perform better in their second year of the course and
also henceforth in their place of work.

Name of the Organization:

Name of the Student:

Title of the Project:

Project Duration – From: To

Pick rank each on a scale of 7 (Can paste the picture of the symbol “ ” in the appropriate box below

Parameter 1 2 3 4 5 6 7

Poor Outstanding

1.0 Discipline

1.1 Adhered to norms of

discipline/Rules

1.2 Punctuality

2.0 Attitude and Behaviour

2.1 Attitude towards learning

2.2 Attitude towards assignment

2.3 Commitment and Seriousness

2.4 Drive & Energy

2.5 Initiative

2.6 Perceived Behaviour

3.0 Assignment Skill Sets

3.1 Information Sourcing

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3.2 Analytical Ability

3.3 Quality of Recommendation

3.4 Quality of Presentation of Report

3.5 Communication

a) Verbal

b) Written

3.6 Social Skills (Interaction, getting

along with others, etc.

3.7 Ability to correlate the project to the

business of the organization

3.8 Overall grading of Assignment

Any other remarks for improvement:

Will be a valuable addition to any team.

Rating Very Good Good Average Please Tick

Grade A+ A B+ B C+ C

Date:

Name: Seal and Signature:

Designation: ________________

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 INDEX

CHAPTE CONTENT PAGE NO.

R
1 Executive Summary 8-9

2 Company Profile 10-15

3 SWOT 16

4 Competitors Analysis 17

5 Objective of Study 18-19

6 Scope 20

7 Research Methodology 21-23

8 Data Analysis & Interpretations 24-28

9 Findings & Analysis 29-30

10 Suggestions/ Recommendations 31-32

11 Limitations 33

12 Conclusion 34-35

13 References 36-37

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EXECUTIVE SUMMARY

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 EXECUTIVE SUMMARY:

This report examines around a mixed study of various Payment method used by merchants of

different sectors such as Food and Beverage, Electronics, Healthcare, Apparel, Hardware

stores, Automobiles, Beauty and wellness etc. My task was to conduct primary and secondary

research for collecting responses of merchants about which all payments method they use,

which all electronic payment app they use for making and accepting payments, what all

difficulties they face, which app is more user friendly and on which app they trust, what

challenges they face while making and accepting payments etc. The whole study was carried

out in the geographical region of Pune & PCMC.

My results confirms that though cash is a significantly faster payment method than traditional

payment card with a magnetic stripe or EMV chip. However, the innovative payment

methods, such as Digital Payment System and NFC mobile payments, are competitive to cash

in terms of time efficiency. Contactless cards and UPI apps are one of the popular electronic

payment method in history faster than cash. My result shows how electronic payment apps

have changed the market scenario and how merchants of different sectors have accepted it as

the important and necessary payment mode for carrying out transaction on daily basis

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COMPANY PROFILE

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 COMPANY PROFILE:

 Introduction:

Kantar is the world’s leading data, insights and consulting company. They help clients
understand people and inspire growth.

Kantar is a data and evidence-based agency providing insights and actionable

recommendations to clients, worldwide. They have a complete, unique and rounded
understanding of people around the world: how they think, feel and act, globally and locally
in over 90 markets. Kantar don’t just help clients understand what’s happened, they tell them
why and how they can shape the future.

They understand what makes people tick. They are proud to be helping change the world in
which all live.

Their clients are wonderfully diverse. They inspire, inform and work with them to create
strategies whatever their objectives – improving brand awareness, attracting more consumers,
increasing brand penetration, financial success or growing peoples’ confidence in public
services. They collect their data digitally and share their insights in real time – at scale and at
speed. They have self service solutions which return results the same day as well as deep
diagnostic ones which take longer. They use AI and machine learning to make existing
offerings faster and cheaper as well as to offer new services which couldn’t have been dreamt
of a few years ago.

 History:

British Market Research Bureau Limited – BMRB which was established in 1933, London
were acquired by the group in 2009 and merged into Kantar Public in 2016. The subsidiaries
TGI – Target Group Index of BMRB which was established in 1969 was split and merged
into the Kantar Media brand in 2009. On 24 October 2018 it was announced that the WPP
board approved plans to sell Kantar Group.

In 2020, Ian Griffiths (former CFO and COO at ITV) was named Chief Financial Officer of
Kantar, while Adam Crozier was appointed Chairman. In October 2020, Kantar announced
the appointment of Alexis Nasard as Chief Executive Officer, effective 30 December 2020.

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 Kantar Mission Statement

Kantar is the world’s leading data, insights and consulting company. We help clients
understand people and inspire growth.

 Kantar Vision Statement

Our vision at Kantar is to be a brand that inspires success. We want to inspire

success in your business, by bringing consumer and shopper insights to the
heart of your decision-making process.

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KANTAR BRANDS:

Kantar Consulting

Kantar Consulting was formerly Kantar Vermeer, Kantar Added Value, Kantar Retail and
Kantar Futures, and was a marketing and sales consultancy.

Kantar Added Value

In October 2004, three Kantar companies – Added Value, Icon Brand Navigation and
Diagnostic Research – combined under the "Added Value" name. Kantar Added Value
focused on brand marketing, consumer insight, innovation and communications optimisation.

Kantar Retail

Kantar Retail was headquartered in London and has over 400 employees and offices in 15
markets around the globe.

Kantar Futures

Kantar Futures offered subscription services and consulting regarding future trends. Formerly
known as The Futures Company, Kantar Futures was formed through the integration of The
Henley Centre, Headlight Vision, Yankelovich and TRU.

Kantar Health

Kantar Health (now Kantar's Health Division) provides data, analytics, and research to the
life sciences industry. As of December 2020, Cerner announced that it will acquire Kantar
Health, acquisition is expected to close in the first half of 2021.

Kantar IMRB

Kantar IMRB (formerly "IMRB International" and "Indian Market Research Bureau") is a
multi-country market research, survey and business consultancy firm established in 1970 that
offers a range of syndicated data and customized research services. With over 1200
employees, IMRB is one of the largest providers of market research in India in an industry
estimated to be worth a minimum of $187 million. As the oldest extant market research
company in India, IMRB has been responsible for establishing the first and only household
panel, the first television audience measurement system and the first radio panel in the
country. IMRB International's specialised areas are consumer markets, industrial marketing,
business-to-business marketing, social marketing and rural marketing.

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Kantar Media

Kantar Media (now Kantar's Media division) offers a range of media insights and audience
measurement services through the analysis of print, radio, TV, internet, cinema, mobile,
social and outdoor media worldwide. Kantar Media was formed from WPP Group's
acquisition of TNS Media and KMR Group in 2010. Kantar Media became Kantar's
rebranded insight, media evaluation and audience measurement company. In 2014, Kantar
Media acquired a majority stake in the issued share capital of Precise Media Group Holdings
Limited ("Precise") in a £70m deal. In the same year, Kantar Media acquired IBOPE Media,
the main TV audience and ad investment measurement company in Brazil. Kantar Media has
within it organizational subsidiaries, such as Kantar Media North America, which are legal
corporate entities in their own right.

Kantar Millward Brown

Kantar Millward Brown was founded in Warwick, England in 1973 and acquired by WPP
Group in 1990. Kantar Millward Brown, now part of Kantar's Insights Division, is a global
research agency specialising in advertising, marketing communications, media and brand
equity research. Kantar Millward Brown works across a range of industries and categories,
and has a number of specialist practices.

Kantar TNS

In 2008, Kantar TNS (Taylor Nelson Sofres) was acquired by WPP and included in Kantar.
In February 2009, Kantar merged TNS and Research International.

Kantar Worldpanel

Kantar Worldpanel runs continuous consumer panels and specializes in shopper behaviour.

Lightspeed

Lightspeed was founded in 2000 and is headquartered in Warren, New Jersey, United States.
The company operates in North America, Europe and Asia. It provides online market
research services, specializing in using the Internet as a data collection platform to provide
research through building and maintaining panels subject to quality and representative
sampling standards.

Specialty panels range across industry sectors such as financial services, health

care, business-to-business, automotive, family and more. Lightspeed also provides custom

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 panels to address specific client needs. In 2007, it conducted over 20 million online surveys
for clients

 SWOT ANALYSIS OF KANTAR:

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 STRENGTH

1. The world's leading research, data and insight companies

2. Plans to transform data into insights

3. Conducts large scale of studies

4. Brand presence across verticals

5. Brand presence across geographic areas

6. Nearly 30,000 people are employed with the organization

7. Its subsidiaries include IMRB, Added Value, Lightspeed Research etc

WEAKNESS

1. Presence of many consulting companies means limited market share

2. Brand recall is lesser compared to some global consulting companies

OPPORTUNITIES

1.Build a solid brand image

2.Stay away from controversies

3.Conducting research with full care so as to avoid discrepancies

4. More advertising & brand building can boost business

THREATS

1. Overhaul of the business model

2.Acquisitions by more established players
3.Consumer faith issues

 COMPETITORS ANALYSIS:

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1. GLOBALWEBINDEX
GlobalWebIndex is a market research company developing a platform that provides
consumer insights, survey, and analytics data to brands, marketing agencies, and media
organizations. The company offers data on consumer behaviours that enables companies to
know their target consumers, generate ideas, compare global and local markets, and measure
impact. Its data is used for audience segmentation, testing, path to purchase analysis, media
planning and buying, campaign analysis, and brand tracking.

2. IPSOS
Ipsos is a market research and consulting company. It assesses market potential, interprets
market trends, tests advertising, studies audience responses to various media, and measures
public opinion. The company conducts research in advertising, media, technology,
government, and consumer businesses, leveraging opinion polls, company surveys, etc

3. GfK
GfK (also known as Growth from Knowledge) is a market intelligence company. It offers
consumer insights and panels, distribution and supply chain management, Geomarketing,
marketing effectiveness, media measurement, POS analytics and tracking, printed ads
tracking, product catalogues, shopper, and trends and forecasting solutions. The company
serves automotive, consumer and industrial goods, energy, fashion and lifestyle, financial
services, media and entertainment, retail, technology, and travel and hospitality industries.

4. Nielsen
Nielsen is a measurement and data analytics company. It delivers media and marketing
information, analytics, as well as manufacturer and retailer expertise about what and where
consumers buy, read, watch, and listen. The company operates two business units: Global
Connect and Global Media. The Global Connect unit provides retail transactional
measurement data, consumer behaviour information and analytics primarily to businesses in
the consumer packaged goods (CPG) industry. The Global Media unit offers viewership and
listening data and analytics primarily to the media and advertising industries across the
television, radio, print, online, digital, mobile viewing and listening platforms

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OBJECTIVES & SCOPE
OF STUDY

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 OBJECTIVES OF STUDY:

 To Identify Payment method used by Merchants of Different Sector

 To identify challenges faced by merchants while using online payment methods
 To identify different UPI apps used by merchants
 To examine awareness of merchants towards the features of different UPI apps specifically.

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 SCOPE

The report’s scopes are followed below-

 Information for the analysis was collected from various websites, database, research papers,
and Social Networking sites
 Geographic scope of the Project Reports is limited to Pune & PCMC region.
 The scope of work in this study mainly focuses on key market players involved in the
e-payment ecosystem in India.

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 RESEARCH
METHODOLOGY

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 RESEARCH METHODOLOGY:

Methodology refers to the comprehensive actions of research in my internship report. To

achieve the required results to establish the objective, some methods are used. This section
will clarify the methods I used to do this project.

Methods:

To achieve the required results to establish the objective Qualitative analysis were used

Qualitative Analysis:

Though A large number of Unstructured Telephonic Interviews were taken, In-Depth

Interviews of merchants were conducted to get proper insight of the actual payment method
used by merchants. some data were also collected through Google Forms

 Overview of the Data Collected and Used

The study is both a mixture of quantitative along with qualitative part. A basic overview of
the data collected and used to make this report are described below.

 Data Type:

This report is based on both Primary and Secondary data.

 Data Source:

Primary Source:

Primary data is data originated for the first time by the researcher through direct efforts and
experience, specifically for the purpose of addressing research problem. Also known as the
first hand or raw data.

Primary data on views of merchants & Shop owners is collected from personal observations
and in person meetings.

Secondary Source:

Like primary source, secondary source is also major stream of information for the report.

List of the secondary source are:

1. Internet

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2. Google Analytics Report

4. Several other reports

5. And other sources

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DATA ANALYSIS &
INTERPRETATIONS

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 DATA ANALYSIS & INTERPRETATIONS:

Sample Size: 80

1)Do you own a smart phone?

Ans: 80% Yes (64)

20% NO (16)

2)Industry vertical belong?

Ans:

Industry Vendors
Grocery 20
F&B 10
Apparel Store 7
Healthcare 8
Electronics Stores & Services 5
Hardware Stores & Services 5
Automobiles 4
Beauty & Wellness 8
Jewellery & Novelty 8
Others 5

3) Role in
the Organization?

Ans: Owner – 55% (44)

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 Partner – 10% (8)

Employee – 35%(28)

Role of People in Organizati on

Employee
35%

Owner
55%

Partner
10%
Owner Partner Employee
X

4) Different mediums used by merchants for the use of internet?

Diff erent Medium for use of internet

Don
gle / Don’ Wifi-
Port t Use Broa
able Inter dban
Hots d
net User
pot 6% s
13% 31% 5) H
o
w
Mobi
le
Inter
net
50%

Wifi-Broadband Users Mobile Internet

Dongle / Portable Hotspot Don’t Use Internet

long you have been using UPI mode of transaction for your business?
Ans: 80% of people were using it for more than 3 months & 20% from past 1 month

6) Different Apps you use currently

Ans:

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 Use of Different Payment Apps

Others Gpay
BHIM
Business
Amazon
Pay

Phonpe
Paytm UPI

7) Payment methods used

Ans:

Payment Methods Used

UPI/ E- Cash
Wallet 15%
25%

Cheque
19%

Credit Card/
Debit Card
23% NetBankig
19%

8) Which language would you prefer to use while using different smartphone applications?
Ans: English Language 60%
Regional Language 40%

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9) Proportion of share of each of these on the total UPI payment received by your business
in last 1 month.

Proportion of share of upi payment received

Others
Amazon Pay 2%
10%
Gpay
28%

Phonepe
26%

Paytm
34%

Gpay Paytm Phonepe Amazon Pay Others

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ANALYSIS& FINDINGS

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 ANALYSIS& FINDINGS:

 80% Merchants had smartphone and 20% didn’t have smart phone or were not aware
about how to use that.
 Among them those who had smart phones 60% have set English and 40% have set
regional language as the default phone language on their mobile phone
 Among Selected sample size majority were from Grocery, F&B, Beauty & Wellness,
Jewellery & Novelty & Healthcare
 Among the sample size 55% were Owners & 35% were Employee
 50% were using mobile internet and 31% were using Wi-Fi-Broadband user
 80% of respondents were using UPI mode of transaction for business for more than 3
months
 32% of respondents use Paytm upi and 22% of respondents use Phonepe and Gpay for
business respectively for making payments
 34% respondents said that they receive payments through Paytm UPI and 28% receive
payments from Gpay and 26% receive payment through Phone pe
 On being asked to respondents about the payment method which they use in day to day
operations we see the transformation that majority have started using e-wallets and
plastic money only hardware and wholesaler were of view that they will deal only on
cash

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RECOMMENDATION &
LIMITATIONS

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 RECOMMENDATION

According to the analysis and findings, there are some recommendation based on the study.

 There is large scope in E-Payment market of India

 Digital Payment companies need to design some programs and should make aware about the
benefits of using e-payment apps
 They should also design one campaign in which they can teach merchants how to operate and
make payments through payment apps
 E-payments app companies should also improve and increase their customer care employee
and should improve their customer service work and make sure that regional language
should be known by the customer care executive so that they can make understand
merchants easily

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 LIMITATIONS

During the three months’ internship period, so many obstacles came in. Some of the
limitations in making the report are following:

a) Lack of knowledge
As a student, in the research field, I have no past practical experience of data collection, data
processing, data analysing, integrating and presenting. So it is a limiting factor for obtain
accurate information.

b) Lack of time
For the time limitation I could not gather more information to justify exact condition. The
time constraints are limiting factors.

(c) Lack of Comfort

In collecting primary data, it is really hard to get correct information from people as they
might not feel comfortable and have insecurity that information might be used for wrong
purpose.

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CONCLUSION

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 CONCLUSION

Working in a Multinational company was one of my dreams. I am so happy that, I could

complete this internship successfully For a young blood like me working with the creative
minds and professionals definitely was a great experience for me. The office and people there
were great like home. Every communication counts. 360 degree communication is done by
KANTAR GROUP, though 3 months attachments is not enough for a person to learn all
those, but the relationships made there are a lifetime asset who are still with me helping learn
so many things. It was a great journey Interviewing a lot number of merchants across Pune &
PCMC. which concludes that, it has been a great learning opportunity for me. This has been a
great learning experience for my career. The project in this report helped me to understand
what problems does retailers and merchants face while using E- Payment mode of payment
and how e-payment can make revolution in daily transaction and can bring transparency
which will be beneficial for Government.

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REFERENCES

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 REFERENCES

1. https://www.kantar.com/
2. https://en.wikipedia.org/wiki/Kantar_Group
3. https://forms.gle/RE7ReJGaRPQcTVGj6

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