MARKETING STRATEGIES OF PAYTM

 A.Alice Deborah.

 S. Rethiksha

 P. Esha

 T. v. Sruthiksha

 R. Sreenithya

 R. Jinu Jessica

 L. S. Shakinaa

 K. Ponvigneshkumar

ABSTRACT:

In today’s competitive market environment companies are

continuously forced to their marketing strategies. Many companies
have also customized their value proportion increase their customer
service levels, which has led to increased customer satisfaction profits
to the companies. Paytm is one of the India's largest mobile payments
and commerce platform.Mobile payments is a mode of payment using
mobile phones. Instead of using methods like cash, cheque, and credit
card, a customer can use a mobile phone to transfer money or to pay
for goods and services.

This paper highlights the findings of the study carried out to evaluate
the performance levels and enhance efficiency and productivity of the
Mobile wallet services.

INTRODUCTION :

Paytm was established in 2010 and its parent company is One97.

Vijay Shekhar Sharma is the founder of the company. Paytm has
received a series of funding rounds from popular investors such as the
Alibaba Group, Ratan Tata, Mountain Capital, etc. Smartphones with
Android, iOS or Windows operating systems have Paytm services
available to them.

Paytm is a leader in the industry of digital payments. Paytm is an Indian

mobile app and online service which is used for making payments like
recharging your phone or paying your bills and also allows user to
transfer money over the Paytm wallet. Debit and credit cards are the
modes selected for these transactions. This prompted many to use
Paytm as the government concentrated on cashless transactions
The concept of mobile phone wallets was mostly unheard of when
Paytm – an acronym for Pay Through Mobile – made its debut in 2010.
For more than over a decade, the platform has been enjoying a strong
presence in the mobile wallet and UPI services category in the country,
despite intense competition from rivals Google Pay, PhonePe and
Amazon Pay.

Marketing Strategy of Paytm analyses the brand with the marketing

mix framework which covers the 4Ps (Product, Price, Place, Promotion).
There are several marketing strategies like product innovation, pricing
approach, promotion planning etc. These business strategies, based on
Paytm marketing mix, help the brand succeed.

Paytm marketing strategy helps the brand/company to position itself

competitively in the market and achieve its business goals & objectives.

Paytm (a partial abbreviation for "pay through mobile") is an Indian

multinational technology company that specializes in digital payment
system, e-commerce and finance, based in Noida. Paytm is currently
available in 11 Indian languages and offers online use-cases like
mobile recharges, utility bill payments, travel, movies, and events
bookings as well as in-store payments at grocery stores, fruits and
vegetable shops, restaurants, parking, tolls, pharmacies and educational
institutions with the Paytm QR code. As of January 2018, Paytm is
valued at $10 billion.

As per the company, more than 20 million merchants across India use
their QR code payment system to accept payments directly into their
bank account. The company also uses advertisements and paid
promotional content to generate revenues.

Advantages of Paytm wallet:

1. It is quick and safe.

2. Widely accepted today.

 3. Paid bill payment, recharge book ticket, and lots more in a single
application and keep track of everything under order history.

4. Good wallet limits.

5. Easy and automatic refund to Paytm wallet in case of product

cancellation at partners store.

Disadvantages of Paytm wallet:

1. Currently unavailable on at least all prominent websites such as

Amazon and Flipkart.

2. It will charge the merchant in the future to accept payment

from customers, as nothing comes for free in this world.

3. You could be charged up to 4% for transferring money from

Paytm to your bank account.

4. Since it isn’t available in most big online and offline retailers,

you’ll need to keep your debit/credit card on hand if you want to
shop there.

5. Due to security concerns, a lower monthly cap, or the desire to

make black money, a few merchants have refused to accept Paytm
money.