A Study Of Growth Of Paytm In India

What is E-wallet?

E-wallet is a type of electronic card which is used for transactions made online through a computer or a
smartphone. Its utility is same as a credit or debit card. An E-wallet needs to be linked with the individual‘s
bank account to make payments.

E-wallet is a type of pre-paid account in which a user can store his/her money for any future online
transaction. An E-wallet is protected with a password. With the help of an E-wallet, one can make payments
for groceries, online purchases, and flight tickets, among others.

E-wallet has mainly two components, software and information. The software component stores personal
information and provides security and encryption of the data. The information component is a database of
details provided by the user which includes their name, shipping address, payment method, amount to be
paid, credit or debit card details, etc.

For setting up an E-wallet account, the user needs to install the software on his/her device, and enter the
relevant information required. After shopping online, the E-wallet automatically fills in the user‘s
information on the payment form. To activate the E-wallet, the user needs to enter his password. Once the
online payment is made, the consumer is not required to fill the order form on any other website as the
information gets stored in the database and is updated automatically.

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How Does It Work?

Digital wallet software is traditionally housed through a mobile app on a smartphone, but can also be used in
a variety of other formats such as a physical device or on your personal computer. The smartphone app
version of the digital wallet is by far the most popular today due to its flexibility and mobility.

These digital wallets typically require you to download a digital wallet app on your smartphone. These can
be created by your bank of choice or a trusted third party. Make sure you do your research and confirm the
company's trustworthiness before providing your financial information to an app

Typically, you must find a point of sale (POS) system terminal that is compatible with your digital wallet in
order to use it. Usually, you will be able to identify this through the contactless symbol displayed at
checkout. Some POS systems also allow you to pay using Magnetic Secure Transmission technology. While
contactless payments can be more difficult to find, many modern POS systems can support Magnetic Secure
Transmission payments.

Once you find a POS system that is compatible with your digital wallet app, you can simply hold your
smartphone up near the sales terminal to pay. Sometimes you can even pay directly through your app.
This rule can also apply to some ATMs, where you can withdraw cash from the app when in close proximity
to a compatible ATM.

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 Introduction Of Paytm

Paytm, owned by One97 Communications, is a digital payments platform that allows you to transfer cash
into the integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via
select banks and partners. Using the money in the Paytm wallet, you can pay for a number of goods without
using cash.

Paytm is one of the Indian e-commerce payment company and digital wallet system which was launched in
August 2010 and whose headquarters is in Noida, India. In 2010, the scenario was different as they mostly
carried cash and used cash payment system and online payment was lesser than cash payment. Paytm
company came up with a unique feature i.e Money pay through mobile to the seller that indirectly affected
the growth rate of online payment. It had a step to step changes in the features of Paytm mobile to the seller
that indirectly affected the growth rate of online payment. It had a step to step changes in the features of
Paytm.

Among the transactions you can make on Paytm are recharges for mobile phones, metro cards, DTH cable,
data cards, etc., as well as postpaid payments for mobile phones, landline/ broadband, electricity, water and
gas bills, etc. You can also book tickets for buses, trains, flights, movies, hotel rooms, etc. and pay for Uber
cab rides using the platform. Additionally, you can buy goods on the company‘s e-commerce platform using
the wallet, and even make offline payments at over 8 lakh merchants, Paytm claims.

In 2010, it started as only prepaid mobile and DTH recharge platform. The features were added time to time
as people face inconvenience in day to day banking transaction and online payment system. Later in 2013, it
added data card, postpaid mobile and landline bill payments. The journey of paytm wallet began in January
2014, company launched the e wallets and Indian railways and Uber added paytm as a payment option.

The new e-wallets system launched by Paytm was turned into mobile commerce with online deals and bus
ticketing. People faced some problems related to day to day cash transaction and it discovered more uses like
education fees, metro recharges, electricity, gas, and water bill payments and it also started powering the
payment gateway for Indian Railways in 2015.

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In 2016, Paytm launched ticket bookings of not only movies, events and amusement parks ticketing but also
the flight ticket , rail bookings and gift cards. Our honourable prime minister Narendra Singh Modi
announced the demonetisation of five hundred and one thousand rupees bank notes which gave boost to
online payment system. At the end of the year 2016, Paytm was available in nine languages and also offered
uses like mobile recharges, electricity bills , travel, movies, as well as payments at grocery stores, fruits and
vegetable vendors, restaurants, parking, tolls, medicine shops etc.

The company employs over 13,000 employees as of January 2017. It has over 5 million offline merchants
across India. It also operates the Paytm payment gateway and the Paytm Wallet.

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History Of PayTm

Paytm was founded in August 2010 with an initial investment of $2 million by its founder Vijay Shekhar
Sharma in Noida, a region adjacent to India's capital New Delhi. It started off as a prepaid mobile and DTH
recharge platform, and later added data card, postpaid mobile and landline bill payments in 2013

By January 2014, the company launched the Paytm Wallet, and the Indian Railways and Uber added it as a
payment option. It launched into e-commerce with online deals and bus ticketing. In 2015, it unveiled more
use-cases like education fees, metro recharges, electricity, gas, and water bill payments. It also started
powering the payment gateway for Indian Railways.

In 2016, Paytm launched movies, events and amusement parks ticketing as well as flight ticket bookings and
Paytm QR Later that year, it launched rail bookings and gift cards.

Paytm's registered user base grew from 11.8 million in August 2014 to 104 million in August 2015. Its travel
business crossed $500 million in annualised GMV run rate, while booking 2 million tickets per month.

In 2017, Paytm became India's first payment app to cross over 100 million app downloads. The same year, it
launched Paytm Gold, a product that allowed users to buy as little as ₹1 of pure gold online. It also
launched Paytm Payments Bank and ‗Inbox‘, a messaging platform with in-chat payments among other
products.

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 By 2018, it started allowing merchants to accept Paytm, UPI and card payments directly into their bank
accounts at 0% charge. It also launched the ‗Paytm for Business‘ app which is now called Business with
Paytm App, allowing merchants to track their payments and day-to-day settlements instantly. This led its
merchant base to grow to more than 7 million by March 2018.

The company launched two new wealth management products - Paytm Gold Savings Plan and Gold Gifting
to simplify long-term savings. It launched into gaming and investments, partnering with AGTech to launch a
mobile games platform Gamepind, and setting up Paytm Money with an investment of ₹9 crore to bring
investment and wealth management products for Indians.

In May 2019, Paytm partnered with Citibank to launch credit cards.

On May 2018, the Indian investigative news agency Cobrapost released a video of an undercover reporter
meeting with Paytm's vice president, Ajay Shekhar Sharma who is brother of Vijay Shekhar
Sharma. During the meeting, he reportedly said the company provided the Indian government with the
personal data of paytm users in the Indian state of Jammu and Kashmir by violating user's privacy and
policies. This went viral through internet, throughout the day. Later, Buzzfeed reported that, Sharma has
close ties with India's ruling party Bhartiya Janata Party. Meanwhile, in response, the company tweeted that,
it never shared user's data with third parties in which it again denied the contents of the video and stated that
it never received requests from law enforcement on twitter. Paytm also stated that any person claiming
otherwise ―is not aware of the policy and is not authorised to speak on behalf of the company‖.

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 COMPANY PROFILE

Paytm is India‘s largest mobile commerce platform. Paytm started by offering mobile recharge and utility
bill payments and today it offers a full marketplace to consumers on its mobile apps. We have over 100mn
registered users. In a short span of time Paytm has scaled to more than 60 Million orders per month . Paytm
is the consumer brand of India‘s leading mobile internet company One97 Communications. One97 investors
include Ant Financial (AliPay), SAIF Partners, Sapphire Venture and Silicon Valley Bank. 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.

Paytm’s 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.

Paytm’s 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.

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How does Paytm work?

Paytm works in two different ways. One is Paytm wallet and another is Paytm payments bank. Paytm is a
digital payment system which allows you to transfer money through credit card, debit card, online banking
and banking partners. By keeping money in the Paytm wallet you can pay all bills without spending liquid
cash anywhere. This helps you in number of ways, as you make payments digitally like mobile recharge, cab
payments, electric bills, gas bills, ticket bookings, movies etc. For this you need to transfer money from your
bank account to Paytm wallet. After that you can use this money process. Follow some steps to create Paytm
account.

1. Download and install the Paytm account from Google play store.
2. Signup the Paytm account using your mobile number or email id.
3. Transfer some money to Paytm wallet through your banking account.
4. Once the payment reached to payment wallet, you can use "Pay or Send" option through your app.
5. Once payment over sign-out your account.

There is also another suggestion given by the Paytm. Users can transfer money through two options. One is
Paytm wallet to another Paytm wallet money transfer and another is Bank to bank money transfer.

The second option of Paytm is given for Paytm payments bank. This will run as like other banks. The users
who have already having Paytm wallet account can migrate with the bank account. Later they can enjoy all
the benefits which they had in wallet will also been having in banking. This shows the increase in usability
of Paytm in e-payments and e-transactions by the people.

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How does Paytm earn money?

It earns from the interest of Paytm‘s wallet balance. If you‘re a frequent Paytm user, you tend to add wallet
balance before the actual need arise. The interest on your wallet balance is the actual earning of Paytm. In
recent years, Paytm has given its payment gateway to many operators which are also a source of earning for
Paytm.

Major Source Of Revenue

● Paytm‘s revenues are generated from multiple sources. This includes:

● Interest (ranging 4-6%) received from escrow account maintained in a nationalised bank,
● Advertisements on its websites,
● Commission from utility payments and recharges,
● Commission of 1% for transferring money from merchant e-wallets to their bank accounts (Gupta
2016).
● The total revenue during 2015-16 was 3360 million which was higher than 2100 million in the
previous year. However in 2015-16 it showed a loss of 3370 million.

Major Investors In Paytm

● The major investors in Paytm includes:

● Ant financial known as Alipay,
● Alibaba groups,
● SAIF partners,
● Silicon Valley Bank and
● Sapphire venture (Baily & Chakravarty 2015).
● In March 2015, Paytm received an investment of US$ 575 million from Alibaba group a famous
Chinese e-commerce company. Similarly Indian industrialist Ratan Tata too made a huge personal
investment in it. Furthermore, paytm has also started working on Alibaba‘s financial services model
which helps sellers and consumers to borrow small loans on their debit cards from the ecommerce
firm.
● Paytm’s Revenue Model
● Paytm Mall
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 ● Recharge Services and Bill Payments

● Payments & Wallet Integration

● Digital Gold

● Paytm Bank

● Payment Solutions

Paytm Mall

Paytm introduced India‘s first mobile only marketplace, Paytm Mall that has more than 120 million buyers
and around 2.5 million transactions are recorded on daily basis today. Sellers consider it to be the most
beneficial marketplaces to sell their services or products. Revenue generation is on the basis of commission
fees that is charged to sellers as per different products.

Recharge Services and Bill Payments

Paytm actually got popular because of its online recharge and bill payment services. Being among the first
online recharge providers, Paytm covered all mobile operators, dish operators, data-card providers etc.
Moreover, it enabled bill payments of TV subscriptions, mobile postpaid numbers, electricity, water etc.

Revenue came in from the commissions charged from all operators and service providers

Payments & Wallet Integration

Paytm offer payment solutions for enterprises charging commission of 1.9% at every transaction. Using the
payment solution, businesses can enable online payment for their customers through:

● WhatsApp

● Mobile App

● Website

Complete SDKs are provided without any setup or maintenance charges. Developers can install the same
and integrate Paytm payments in the web or mobile solution.

Payment earns a lot even after providing cashbacks on all its products and services. Paytm wallet is the
answer to this. So, the cashback that customers get can only be availed through Paytm Wallet. So, you do not
get any money back but you get some amount to purchase new Stuff.

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The cash in Paytm wallet is deposited in Escrow Account. The Escrow Account gets a certain interest
amount for Paytm and this is how Paytm makes money through Paytm wallet.

The money deposited by users in Paytm wallet, as per RBI Guidelines, is deposited by Paytm in an Escrow
Account with a certain bank. This escrow account deposit fetch Paytm certain interest which is decided as
per the contract between the bank and Paytm.

Digital Gold

Considering gold to be one of the most preferred investment because of its monetary benefits over long time,
Paytm planned to capitalize on the same.

Customers will be able to hold a gold bank account where they will buy and store the gold in digital form.
This does not end here as Paytm plans to enable the customers use the invested gold to avail other services
such as book movie tickets, purchase merchandise, pay bills etc. There will also be an online platform for
jewellers where they will be able to connect with customers directly. Thus, Paytm will have its money from
the jewellers by being their affiliate.

Paytm Bank

Paytm Wallet will grow into a complete payments bank. It will have debit cards for people who
don‘t use mobile application. The cards will have QR codes that will be scanned at various places to
make payments.

Payment Solutions

Paytm offers smart payment solutions for online businesses. The payment solutions allow them to accept
online payments through Paytm.The payment option comes with no setup fee and maintenance charges.
However, the company charges a commission of 1.99% on every transaction.

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Bottomline

Paytm has shown a phenomenal growth over a small duration. Demonetization proved to be the most
beneficial to Paytm. However, the company did not stop there. It took a step forward with other cashless
investment options. Companies that keep evolving with time are the ones that sustain and this fact is best
known to Paytm.

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How to use Paytm?

Here is a step-by-step guide you can also refer to:

Paytm users can add money to their Paytm Wallets in a few easy clicks.

1. Tap on the ‗Add Money‘ option on the Paytm app home screen, enter the amount and pay using
Debit/Credit Cards or Net Banking.

Paytm customers can pay, receive and shop with just a smartphone at zero extra cost.

2. Users can simply scan the recipient‘s QR code or entering their mobile number in the ‗Pay‘ option in
the Paytm app to instantly pay virtually anyone with a smartphone and the Paytm app.

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 3. Accepting money using Paytm is easy. Tap in the ‗Accept Payment‘ option in the Paytm app home
screen, and request the sender to scan your Paytm app.

Alternatively, you could take a screenshot of this screen and WhatsApp or e-mail it to the sender. They can
then select ‗Scan Paytm QR Code from Gallery‘ option in their Paytm app, and pay you instantly.

There are two ways of receiving this money. You can accept it into your Paytm Wallet and enjoy instant
settlement. Alternatively, choose ‗Bank Account‘ in the Accept Payment option. The amount would be
settled at midnight every day.

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 4. Money stored in the Paytm Wallet can be taken to your bank account. Tap on the ‗Passbook‘ icon in
your Paytm app home screen and select ‗Send money to Bank‘.

Once you tap on the ‗Transfer‘ button, please enter the amount, account holder‘s name, account number,
IFSC Code and press ‗Send

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Funding

In 2007, Paytm's parent One97 Communications Ltd. got its first institutional investor, venture capital firm
SAIF Partners. In October 2011, Sapphire Ventures (fka SAP Ventures) invested $10 million in One97
Communications Ltd.

In March 2015, Paytm received its funding from Chinese e-commerce company Alibaba Group based
in Hangzhou, China , after Ant Financial Services Group, an Alibaba Group affiliate, took 25% stake in
One97 as part of a strategic agreement. Soon after, it received backing from Ratan Tata, the MD of Tata
sons.
It subsequently launched a ‗Paytm for Business‘ app in 10 regional languages of India, allowing these
merchants to track their payments and day-to-day settlements conveniently. In August 2015, the Reserve
Bank of India granted 'in-principle' approval for Payments Bank to Paytm. In 2017, the company launched
the
Paytm Payments Bank with the aim to bring banking and financial services access to half-a-billion un-served
and under-served Indians.

The same year, Paytm launched an app for Canadian mobile phone, cable, Internet, electricity and water bill
payments. In 2018, it set up Paytm Money to build investment and wealth management offerings for its
users.
This business was expected to bring direct mutual funds and money-market funds to the Indian masses. In
August 2016, Paytm raised funding from Mountain Capital, one of Taiwan-based MediaTek's investment
funds at a valuation of over $5 billion.

In May 2017, Paytm received its biggest round of funding by a single investor – SoftBank which also has a
large stake in Alibaba, thus bringing the company's valuation to an estimated $10 billion. In August
2018, Berkshire Hathaway invested $356 million for 3%- 4% stake in Paytm, although Berkshire Hathaway
confirmed that Warren Buffet was not involved in the transaction.

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On November 25, 2019, Paytm raised $1 billion in a funding round led by US asset manager T Rowe Price
along with existing investors Ant Financial and SoftBank Vision Fund

Shareholders Shareholding

Promoters: One97 communications Ltd 38.0%

Alibaba Group 42.0%

Softbank 20.0%

Total 100.0%

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Investment And Acquisition

● In 2013, Paytm acquired Plustxt for around $3 million. Plustxt was started by IIT Graduates Pratyush
Prasanna, Parag Arora, Lokesh Chauhan and Lohit V that allowed fast texting messaging in any
Indian Language.

● In 2015, Paytm invested $5 million in auto-rickshaw aggregator and hyperlocal delivery firm
Jugnoo. The funds were meant to enable Jugnoo to scale up its operations across the country, and
improve its driver efficiency. It also acquired Delhi-based consumer behaviour prediction platform
Shifu and local services startup near in.

● In 2016, Paytm invested in logistics startups LogiNext and XpressBees.

● In April 2017, Paytm invested in healthcare startup QorQL which uses artificial intelligence (AI)
and big data to help doctors improve their productivity and quality of care, and enable patients to
manage their health better. In July 2017, it acquired a majority stake in online ticketing and events
platform Insider.in, backed by event management company Only Much Louder (OML) and mobile
loyalty startup MobiQuest. The same year, Paytm acquired Little & Nearby, and merged both.

● In June 2018 the company acquired the startup Cube26.

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 SWOT Analysis Of Paytm

In addition to the portal the company also owns the Paytm payment gateway and the Paytm Wallet. Paytm
achieved a major landmark by securing funding from the Chinese e-commerce kingpin Alibaba after it raised
over $625 million at a valuation of $1.5 billion. Currently, Alibaba Group holde the highest stakes the owner
company of in Paytm, One97 Communications.

Strengths

Strengths are defined as what each business does best in its gamut of operations which can give it
an upper hand over its competitors. The following are the strengths of Paytm:
● First mover advantage: Paytm was the first online payment company to set up operations in India.
Their timing was perfect since they started operations at around the same time when smartphones
started becoming popular.
● Convenience options: Paytm is an epitome of convenience since it is operational round the clock
and facilitates easy payment or transfer of funds anytime, anywhere. This makes it increasingly
accepted by an urban population who rely on online shopping for even daily use items.
● Tie-ups with merchants: Paytm can be used to transact with more than 3 million merchants across
India and the number is said to be growing every day. This makes Paytm an easy shopping option for
most customers irrespective of their economic background or education.
● Bucket of services: Most of what one desires to do online can be done through Paytm.In addition to
the Paytm Wallet, today the brand has online reservation facilities, online retail, and online recharge
and there is also no need to go through payment gateways of you are using paytm.
● Offers: Paytm has been able to grab and hold the attention of customers primarily because of the
neverending offer stream it has been announcing these are custom designed with the Indian mindset
in the frame and thus works like magic for zooming sales.

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Weaknesses
Weaknesses are used to refer to areas where the business or the brand needs improvement.
Some of the key weaknesses of Paytm are:
● Need for IT infrastructure: If Paytm functions have to be robust there has to be good bandwidth
and speed. This may be there in most cities in India but may not the case in remote locations or even
tier 2 towns.
● Lack of awareness amongst users: Most users are unaware of what Paytm can do for them and
confused about how the app needs to be used. The level of awareness of technology tools and the
inherent fear of making erroneous transactions is making things worse.
● Fear of going cashless: Most Indians are used to transacting on cash and are yet to get used to being
used to cashless transactions. However, with digitization and demonetization, things are expected to
pick up and this will help online wallet services.
● Poor customer care: One criticism leveled against Paytm is its poor customer service. The app and
the portal cater to a wide variety of customers whose concerns may be minor. It is alleged that the
call center executives are often rude and unable to handle many of the queries.

Opportunities
Opportunities refer to those avenues in the environment that surrounds the business on which it can
capitalize to increase its returns. Some of the opportunities include:
● Growing demand for aggregators: Aggregators and middlemen are in demand everywhere today.
With growing technology usage people prefer to make most payments from the convenience of their
homes. This has increased the role of payment aggregators in India.
● Demonetisation: One of the services that benefitted heavily from the Indian government‘s
demonetization drive was online payment services and Paytm was one of the biggest beneficiaries. In
a move to digitize the country, such services will have more opportunities coming their way.
● The surge in the number of working professionals: The number of working professionals are
increasing profusely. This means that for most couple‘s time is scarce making them rely more on
home delivery services for their sustenance. When the demand for online shopping increases there
will be a corresponding increase in the payment portals as well.

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Threats
Threats are those factors in the environment which can be detrimental to the growth of the business.
Some of the threats include:
● Competition: With lowered barriers to entry, every new entrepreneur is looking aggregating
services. There are a lot of online portals like pay charge, mobikwik etc and even telecom service
providers like Airtel and Vodafone are providing online payment gateways.
● Growing concerns about safety: Today there is negative imagery of information security and
tracking of shopping habits. There is also growing concerns about how safe the information
submitted to payment portals are and the level to which such portals or payments made through them
are monitored.

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 Marketing Mix Of Paytm – Paytm Marketing Mix

Pay Through Mobile is simply referred as Paytm and it is associated with e-commerce industry. It is of
Indian origins and was founded in the year 2010 by its founder Vijay Shekhar Sharma. Paytm is a subsidiary
of its owner company One97 Communications but a major part of its share is also owned by Alibaba Group
from neighbouring country China. Paytm has targeted each and every person irrespective
of age, income, gender or status as its target customer because it wants to penetrate in every nook and corner
of India. Some of its major competitors are as follows JioMoney
Airtel Money
Mobikwik
Freecharge

Product in the Marketing Mix Of Paytm :

Paytm is actually a payment system via the electronic-commerce medium. It started its operations as a B2B
organisation but realised the importance of customer participation and opened B2C option also. Paytm
offered mobile recharging and later added bill payment like payment of DTH, electricity and broadband
along with e-commerce to its portfolio.

In the year 2015, it ventured towards new horizons and added travel booking for busses and in the year 2016
for movies in partnership with Cinepolis. It acts as a portal to shop for multiple products from apparel to
electronic items. Paytm has increased its operations to include services like booking air tickets, taxis and
payment at petrol pumps.

The government is propagating cashless economy system and this endeavour will be a step in right direction.
Payments bank will be opened and it will attain a separate entity with the founder of Paytm Vijay Shekhar
Sharma, One96 Communication and its subsidiaries holding 51%, 30% and 10% respectively. Paytm has
gained approval from Bharat Bill Payment System and users can easily pay bills through this medium from
now onwards.

Place in the Marketing Mix Of Paytm :

Paytm has a Pan-India presence and has set up its headquarters base at Noida in Uttar Pradesh. It is actually
a platform that can be used easily by anybody and everybody at his/her convenience. Paytm launched a toll-
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free number which is first of its kind and was at that point of time unheard of. 1800-1800-1234 was a simple
number that was used for recharges. Paytm was launched as a recharge website via a mobile application. It
can be accessed via browser and its app is also on iOS, Windows and Android operating systems. Paytm
Wallet was launched in the year 2014 and it became largest service portal for mobile payment in India. By
the end of November 2016, 150 million and 75 million wallets and Android-based apps were downloaded
respectively. It has signed a deal with InMobi, one of the largest portals in online industry to increase its user
base.

Price in the Marketing Mix Of Paytm :

Paytm is a medium which helps to pay bills in an easy manner without going to that related office and
standing in the queue for payments. It has become one of the most successful ventures related to online
payment. In the year 2015 Reserve Bank of India granted it a license to start first payment bank in India. The
intention of the bank is to use existing user-base of Paytm to offer diversified new services like online
transfer, savings account, online banking and debit cards. Paytm has become easy-to-use and innovative
interface and this has been possible because of its features as well as its pricing policy. The company was the
first to start a trend of cashback and instead of discounts they offered a money back in wallets.
Promotions in the Marketing Mix Of Paytm :

Paytm has adopted an aggressive and unique marketing policy to create better brand visibility. They initiated
net banking and launched several schemes and offers as part of their promotions. Ad campaigns were shown
via multiple channels on radio, television, newspapers, magazines and billboards. It also relied heavily on
mouth publicity. Demonetization of currency notes worked heavily in its favour and
garnered huge publicity and an increase in active users. Paytm is the title sponsor for every cricket series in
India hosted by BCCI for four years since the year 2015. It is the recipient of several accolades and awards
like Disruptive Digital Innovator Award in the year 2015 and The Most Innovative Company of the year
2014.

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Marketing Mix of Paytm analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion)
and explains the Paytm marketing strategy. The article elaborates the pricing, advertising & distribution
strategies used by the company.

Product:

Paytm is a leading online payment company and an ecommerce portal based out of India. Paytm offers
various products & services in its marketing mix like ewallet, online shopping etc. The name Paytm is a
short form for pay through mobile.

Customers can access the portal on computers and apps on their smartphones for making online payments
like mobile recharge, bills, shopping etc. Paytm wallet enables customers to pay bills like electricity,
recharge their mobile numbers, pay for DTH services, pay at restaurants, book air tickets, movie tickets etc.
Paytm basically empowers the customers to make payments instead of using cash or debit / credit cards.
Payments bank from Paytm enable customers to have bank accounts like any
other bank and have access to services like debit card, savings account etc.

Price:
Paytm is a free to use service as it is a medium through which customers can make payments for the other
services which they avail. The foundation of payment was because of series of investments they received.
Indian business tycoon had invested in Paytm as a personal investment in the brand. After this, a funding of
$575 million was received by Paytm from China's leading business group Alibaba.

Paytm also received funding from Taiwan based Mountain Capital. These huge fundings enables
the company to get new customers on board and give them free service. Paytm is also parallely giving
discounts and offers to promote its online shopping ecommerce portal. This gives an insight in the pricing
strategy in its marketing mix. There are many other apps and tech companies similar to Paytm but none of its
competitors have a market share as strong as it has. Paytm earns its revenue from commission which happen
on the transactions. Also, money deposited and stored in the ewallets
are also used to generate income through interest.
Place:

Paytm, like any other app or website, is accessible everywhere through a smartphone or laptop having
internet connectivity. The Paytm office is headquartered in Noida, India. The service is currently serving the
Indian consumers and is available throughout the country for making payments and shopping.

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Paytm is widely accepted as a mode of payment across various industries, sectors and geographies. Several
restaurants, groceries, supermarkets, hotels etc all accept Paytm as a part of payment.
Ticketing houses and tour operators use Paytm's service for rail, plane, bus ticketing. All these show the
extensive reach of the service, which is widely accepted by vendors and customers alike. Paytm has also
launched services in Canada.

Promotion:

Paytm has been aggressively advertising itself as a part of its marketing mix. Ad campaigns of Paytm are
been showcased through TV commercials, online ad banners, billboards, print media like newspapers,
magazines etc. These have enabled Paytm to become a household name, with a catchy phrase of "Paytm
karo".

Apart from this, the company has also been actively involved in sponsorship of several
events, competitions etc which have given the brand tremendous visibility. Paytm has also been roped in as
the official sponsor and partner of the Indian cricket team, which would give huge publicity and visibility to
the brand across the world. Retailers, grocery stores and supermarkets accepting Paytm as a mode of
payment also display wall hangings and posters, which give the brand a strong visibility.

Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of
Paytm

People:

Paytm, being a service brand, gives importance to its people ie its customers as well as its employees. More
than 13000 people are employed with Paytm as a part of its strong people strategy in its marketing mix.
Apart from employees, more than 3 million merchants accept Paytm as a mode of payment. The company
has grown in leaps and bounces as it has in excess of 75 million app downloads. Also, more than 150 million
people actively use Paytm wallets for making online transactions.

25
Process:

Paytm has several business interface and customer friendly processes for the ease of doing transactions. The
basic process of using Paytm is as follows. Once a user has registered with Paytm, they have to transfer
some money using netbanking, credit/ debit cards, IMPS or other ways mentioned from their bank. Once the
money is the Paytm wallet, codes and numbers of vendors are used to transfer e-money from customer to
vendor. As the brand is new and is growing rapidly, it had also focused on customer service processes.

Physical Evidence:

Paytm's physical evidence is the presence of the brand with customers and merchants. The app installed in
smartphones is the biggest physical evidence for Paytm as the app interface is the most critical moment of
truth for the customer for making payments and vendor for receiving the payments.

Branding and Marketing

In July 2015, One97 Communications, the firm that owns the brand Paytm, acquired the title sponsorship
rights for India's domestic and international cricket matches at home for a period of four years starting in
August 2015 for Rs 203 crore or Rs 2.42 crore per match . The rights include sponsor branding of series with
the title sponsor logo, designation as the title sponsor of the series, visibility at the stadium, and broadcast
sponsorship rights. This also includes all BCCI domestic (Ranji Trophy, Duleep Trophy, etc.) matches in
India.

Vijay Shekhar Sharma, founder and CEO of Paytm, said, ―Cricket is the dream sport for us in India. Cricket
epitomises the Paytm values of passion, hard work and team effort. We are very happy to partner with the
BCCI and cheer for Indian cricket with millions of fans. Over the next 4 years, we will continue to invest
strongly in cricket and other sports. As a growing brand which has big plans for a billion strong Indians,
there is no better platform than cricket in India.‖

Previously, Paytm had acquired sponsorship rights during the 8th season of Indian Premier League. It has
also served as an associate sponsor on Sony TV network (which has the telecast rights for IPL) and was the
official partner of the IPL team Mumbai Indians. In March 2018, Paytm became the Umpire Partner of the
IPL for five years.

26
From the time, Paytm has entered the market, it has been trying to make Paytm a verb. Hence the tagline
―Paytm karo‖. These days people usually say, 'Let me paytm it to you' when they mean let me pay you
digitally.

The brand team at Paytm seems to be in perpetual overdrive, trying creative brand partnership like
(Marketing maestro Uber), active social media presence, heavy marketing spends, innovative media tie-ups
like placing the Paytm logo under NDTV logo (unmissable and in your face), awareness campaigns,
advertising boards with vegetable vendors, scholarships for offline merchant onboarding, etc.

27
High Growth After Demonetization

Demonetisation was the only thing talked about across India in November-December, 2016. The brand
that shares top of mind recall with ‗Demonetisation‘ currently is ‗Paytm‗ digital wallet. There are many
digital wallets in India but Paytm was one of the first movers and a heavy ad spender. This ensured
everyone KNEW brand Paytm but demonetisation has ensured everyone TRIES the product atleast once.

Between Nov. 10 and Dec. 20, Paytm added over 20 million new users, taking its total user base to 170
million. Within two weeks of the demonetisation announcement, the company, which is backed by
China‘s Alibaba Group, was racking up over seven million transactions per day—more than the
combined average daily usage of India‘s 24.5 million credit cards and 661.8 million debit cards

Paytm has focused towards building its brand image more concrete in the running competition. Recently
it has appeared to be ahead of its rivals mobikwik, freecharge and others. As per the records, it was
found that currently around 177 million of the users use Paytm in their day to day life and make a total of
7 million transactions in a day (Joshi 2017). After demonetization, it has achieved a total of 75 million
unique users per month. Among all users around 40% users belong to small cities, 67 million population
belong to 56 big cities and the rest from small towns. In Dec 2016, information about total number of
users, unique visitors and others things has been mentioned in the list given below

Total Users 177 Million

Product E Wallet

Service Online/Offline Payment

Merchant Enroll 8 lakhs

Monthly Unique Visitors 75 Millions

Daily Transaction 7 Million

Employees 4500

After demonetization paytm made it easier to pay with its digital payment option. There was around
1000% growth in the money added to its wallet, 300% rise in app download and a gain of 20 million new
users was recorded within 2 months (BI intelligence 2016).

28
Paytm’s Marketing Strategy During Demonetization

Paytm suffered huge losses amounting to about INR 1,549 for the financial year 2015-16 compared to INR
372 crore in the previous financial year. However, November 8, 2016 changed the fate of Paytm as
demonetisation came into effect. Paytm may not have come up with an ‗out of the box solution‘ in particular
but they were quick to respond to this exigency within few minutes of the announcement being made public.
Some of the notable initiatives taken up by Paytm during demonetisation have been discussed:

Twitter campaign assuring a fitting solution to the cash crunch problem:

With ATMs running out of cash and the lead time being too long for the new denomination currency
notes of INR 2000 to reach the ATMs, there was immense panic as to the long waiting lines at the banks
and the useless 500 and 1000 rupee notes in hand. As a solution to this, Paytm came up with a series of
tweets; one being―We have got two words for you: Paytm Karo‖ followed by the other ―Ab ATM nahin
Paytm Karo‖ which were retweeted several times to ensure a wide reach and educate individuals about going
cashless.

Aggressive advertising across print media

November 9, 2016, the very next day of the announcement going public, Paytm came up with full page ads
in every leading newspaper of the country advocating their support in favour of Modiji‘s bold move aimed at
transforming the nation into a cashless economy. Their ad campaigns were supported by a 25trendy hashtag
saying #Ab ATM nai Paytm karo!

Targeting the non-internet user base:

Paytm could sense that in India internet connectivity is quite an issue and hence emerged the campaign
―Every Indian, with or without internet #PaytmKaro‖. Non-internet users were provided with an option
to make a missed call to a given toll free number in the ad to process their transactions in a hassle-free
manner in just three steps. The purpose was to reach every corner of the nation, rich or poor, urban or rural.

29
Choice of media:

Paytm used a mix of major media vehicles like TV, radio, digital and print media for their mass
campaigns. Social media was the first and most influential platform for Paytm for immediate outreach.
Paytm released campaigns in 11 different regional languages during this period.

Addressing day-to-day problems faced during the cash crisis:

It was quite impractical and tough to transact in INR 2000 denominations for daily needs items. In an
attempt to address this issue, Paytm came up with a television commercial ―Chutte Ki Chinta mat Karo,
Paytm Karo‖ depicting how people were in a cash-strapped situation finding it difficult to purchase their
daily groceries and making other miscellaneous payments. The advertisement convinced the consumers
that Paytm would relieve them of this hassle by making direct money transfer possible through their
respective Paytm accounts. Another campaign ―Shaadi ka shagun cash nai, Paytm karo‖ gained popularity
as demonetisation was declared during the wedding season.

The QR code scanner facility at the bottom of the pyramid:

On account of its massive advertising campaign, Paytm became very popular among small merchant as well.
The method of registering themselves and conducting transactions was very simple. One could find
Puchkawalas, Chaiwalas, Paanwalas and the local kirana stores employing this mode of transacting money.
You would just have to scan the unique QR code offered to each retailers for making the payment successful
or you could transferred to the registered Paytm number instead. On the back of Demonetization one could
find 300 percent growth at offline retail store in just 6 days.

Tie-up with big names:

Some of the big names were Uber, Bookmyshow, Dominos, Jabong and many more. Paytm recently
partnered with IRCTC as well. Consumers preferred Paytm over card payments as it offered coupon
discounts and cashbacks. With a strong base of 60 million wallet users and partnering up with major
companies Paytm gained a winning edge over its competitors during the cash crisis .

30
Enormous advertising budget:

Paytm shot up its advertising budget by 300 percent (50 crore a month) during November, 2017 .About
27INR 600 crore was only set aside for advertisement expenditure for the financial year 2016-17 for
customer acquisition. Paytm was the most aggressive amongst all its competitors trying to skim the
cream as early as possible. Since the first day of demonetisation, about 60000 users (a 700 percent
increase in overall traffic) registered with the app every day. The amount of money transferred to Paytm
wallets increased by 1000 percent in just two days. All this indicates that the string of marketing
campaigns undertaken by Paytm were quite a success

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Challenges faced by Paytm

After revolution in M-banking the further steps includes the new concept of mobile wallets.
Mobile wallet is a recent phenomenon. Its adoption will take time as it is a habit change
experience for users as they are migrating from cash to wallet experience. Even though it might
be a relatively a newer concept, the adoption is increasing along with the awareness of it.

In the future , we may witness exit of some players or consolidation of some players from their
segment. They will pose new challenges which has to be taken care of so all the stakeholders
have to address these challenges to ensure the growth in customer base , volume of transaction
and profitability of business.

A large proportion of India‘s population is not financially literate and does not have access to
formal banking services. There are multiple problems faced by the industry which can be viewed
as three dimensions. : business & operating models, consumer and market dynamics
The long-term profitability of certain models is yet to be ascertained. At the same time, most
non-bank payment service providers are in the early stage of business maturity, with an evolving
operating model. On the consumer side, there is still a strong preference for traditional modes of
transaction, especially cash. Digital payments, cards, and acceptance infrastructure at merchants
are largely an urban phenomena, and there is a huge urban–rural divide to be bridged.

There is large unhealthy competition in which leading players will be competing for the same set
of customers resulting in significant pricing pressures. They all are vying for same set of
customers.
Trading glitches, a trademark infringement filed by PayPal for use of similar colour patterns and an
advertising faux pas were some of the critical areas that raised concern for Paytm. Its trading volume
increased by leaps and bounds. Under high pressure the technological backend of Paytm seemed to
crumble as it never anticipated the 1000 percent jump in the number of users. There was an urgency to
create a robust platform instead of shifting its entire focus on advertising. This has given way to
suspected insider fraud as there were two reported cases of fraud against 22 private individuals
amounting to about INR 10 lakh. Not only this, Paytm‘s ad campaigns complimenting the PM on his bold
move dragged the company to a political war. The quips , ‗Pay To Modi‘, ‗Pay To Me‘ aroused a great deal
of controversy.

32
In September, Paytm‘s parent One97 Communications announced that its net losses for the year ending in
March widened to Rs3,959 crore ($559m) from Rs1,490 crore ($210m) for the previous year, while revenues
were up only slightly to Rs3,232 crore ($456m) from Rs3,052 crore ($430m).

33
A crowded field

One of the biggest problems Paytm is facing is that the Indian payments market is becoming increasingly
crowded. Three years ago, the government‘s demonetisation initiative suddenly wiped out almost 90 per cent
of the cash in circulation, giving a huge boost to the company‘s user numbers.

But since then more players have entered the space, as the government-sponsored Unified Payments
Interface, a platform that was rolled out in 2016 to allow immediate mobile payments directly between bank
accounts, has become widely adopted.

India now hosts a variety of competing payments apps including deep-pocketed rivals such as Amazon Pay,
Flipkart‘s PhonePe and Google Pay, all looking to capitalise on the country‘s 800m mobile phone users. The
fight will only intensify when Facebook-owned WhatsApp Pay launches in the country.

. Some have argued that Paytm missed a key opportunity in not getting in ahead of the government and
creating its own mini-UPI, which could have allowed it to develop the infrastructure underpinning the
country‘s payments system.

―What Paytm didn‘t do right was to change [its] e-wallet business into UPI,‖ said the chief executive of an
Asian start-up with a large financial services business, speaking on the basis of anonymity. ―The company
had this notion it could compete with UPI . . . and then PhonePe and Google Pay stormed the market. From a
payment standpoint it is hard to see how [Paytm] can dominate now.‖

Paytm eventually integrated with the UPI system in 2017, but by November of this year Google Pay and
PhonePe commanded a bigger market share across UPI apps, with 57 per cent and 27 per cent respectively,
versus Paytm‘s 7 per cent, according to research from payments provider Razorpay.

34
Expansion plans of Paytm

In a mega funding round, Paytm, the country‘s top financial technology entity, has raised a billion dollars
(Rs 7,200 crore), at a valuation of $16 billion, from existing shareholders Ant Financial, Softbank Vision
Fund and also new investors, including funds and accounts advised by T Rowe Price Associates, among
others. Discovery Capital, an existing shareholder, also participated in the round. Paytm plans to invest Rs
10,000 crore over the next three years, with the stated aim of expanding its services in tier-III cities and
smaller towns.

With this funding round, the Vijay Shekhar Sharma-led fintech giant has become a top-tier Asian digital
firm, much ahead of others. In this round, the company made a $1-billion equity closure,
where SoftBank Vision Fund (SVF) invested $200 million, Jack Ma‘s Ant Financial added $400 million and
the balance amount came from T Rowe Price and Discovery, among others

This has happened in a climate where investors are not making big bets on companies and SoftBank is still
reeling from the We Work Initial Public Offer debacle. Till now, Paytm has raised a little over $2.5 billion in
investments. Proceeds from the latest round would be directed towards further expanding it‘s payment and
financial services business.

“Paytm is a great opportunity. We are addressing the India opportunity the best possible way. I think the very
business model of acquiring customers and small businesses and bringing them to the formal financial
system is viable and our investors understand that. India is underserved when it comes to financial services
and this investment will be used to expand in that direction; our investors believe in that goal…Paytm is
reaching its monetisation phase, where other financial services in due course will start bringing in revenue,
so it becomes a story of a mature digital financial services company,‖ founder Vijay Shekhar
Sharma told Business Standard.

Talks for the new funding round started last year in December. The company has since had several rounds
of discussion with its investors. The existing ones were interested in raising their stakes to fuel the next level
of expansion.

35
Talks started almost two board meetings back, sometime in December. When we had the Tokyo board
meeting in September (this year), we concluded the terms and the agreement happened,” added Sharma.

For the next phase of growth, Digital Payment platform Paytm has allocated INR 750 Cr to expand its
monthly active users. The platform plans on targeting 250 Mn new customers, and onboard new merchants
in Tier 2 and Tier 3 cities and towns. For offline payments, the company aims to enable 20 Mn retail
merchants to accept digital payments through Paytm QR.

The news comes a week after, National Payments Corp of India (NPCI) data for July showed a drop in the
volume of UPI transactions on Paytm‘s platform . Currently, Paytm has close to 130 Mn monthly active
users and more than 450 Mn registered users, as of July 2019. The platform is connected to over 12 Mn
offline merchants, as of July 2019.

Paytm has been continuously focusing on evolving and innovation to attract more users to its platform. It
currently provides a range of services like travel and entertainment booking, recharge and bill payments,
education fees, city services and financial services payment. The e-wallet is also trying to digitise
governmental fees by adding more government-related services such as electricity, water, gas, toll tax,
municipal payments, traffic challan in every town and cities. Paytm Inbox is expanding with a 100% quarter-
to-quarter (QoQ) growth in its user engagements by offering content services like news, cricket store and
videos in a short span of time. This year, the platform also rolled out Paytm first games which offers more
than 300 engaging games like rummy, battle centre, 8 ball pool and live quiz, and has crossed 30 Mn users
already.

The platform has also been focusing on its merchant partners as well. This month Paytm has launched
another payments gateway for bulk payments, Bulk Payments, to enable customers, vendors or employees to
make payments to as many accounts they need to, across various banks. This API bulk payments solution
has been developed to make business payment easier.

The company has been facing tough competition from the relatively new Googly Pay and PhonePe. Even
though, Paytm has been voted as the most trusted brand in a survey conducted in, August 2019, by YouGov
survey . It is notable that despite entering the market two years ago, Google Pay, a UPI enabled digital
payment platform, has been increasing its user base in India. For the month of July, Paytm recorded nearly

36
140 Mn UPI transactions, while its competitors Google Pay reported over 300 Mn and PhonePe claimed to
have over 335 Mn UPI transactions

IoT focus

In its first phase of growth, Paytm brought in low-cost digital payments acceptability, using its QR-code
technology to shops and retailers. The company now plans to add a host of Internet of Things (IoT) devices
to the mix, enabling small merchants in towns to more easily accept digital payment.

―We are adding physical devices, IoT-based devices, which will enable QR payments, card payments.
Devices and IoT-led payment solutions would become an important part in our next level of journey. We
have been doing beta tests of some of our IoT devices, which are proving quite successful. Payment driven
by mobile phone and QR code is taking the next leap, where merchants will have many device options that
will help them to avoid fraud, scale (up) business systems and bring efficiency and trust,‖ promises Sharma.

Paytm says it now serves merchants in a little over 2,000 cities and towns, in 650 districts.

No deep discounts

While its competition, including Google Pay and PhonePe, are spending massively on cashbacks, Paytm
says it will use this Rs 10,000 crore to add as many small merchants and businesses as possible into its fold.

―We are not that much in P2P (peer-to-peer). We will continue to double down and spend aggressively more
into better IoT devices, so that it helps us in signing up small merchants. Our primary business model is
merchant payments and the larger part of the funds would be spent there,‖ he added.

While Paytm faces stiff competition from these players, it has maintained its position as the biggest
payments player in the country. This funding round, believe sector experts, will help reinforce that.

37
Not going public’

Expanding the reach of its financial services seems the main focus area for the company and its backers.
Sharma said there are no plan of going public, as of now. ―There is no commitment that we have made for
going public. We have clearly said that we want the financial services business to (first) take off. Paytm has
been able to build a business that is contribution positive; we are since last year getting into financial
services,‖ he added.

According to the company, Paytm Payments Bank has around 50 million accounts and is among the few
mandated by the ministry of electronics and information technology to drive the highest targets for merchant
acquisition and digital transactions.

Its financial services firm, Paytm Money, is now one of the largest contributors of new Systematic
Investment Plans to the mutual funds segment. It has already received approval to launch stock broking,
dematerialization services and National Pension System services.

38
 Research Methodology

Objectives Of the Study

1. To study the growth of PAYTM in India

2. To study the benefits and limitations of Paytm from customers point of view

3. To analyse the growing adaptation of Paytm.

4. To evaluate the importance of Paytm Wallets

5. To Study the role of Paytm in digital market

6. To study the acceptance level of Paytm in India as an alternative to the cash transactions

7. To study the flexible services offered by the Paytm

8. To study the opinion among people in adopting Paytm as a solution to the Indian
Demonetization.

9. To examine the importance of Paytm in day to day life.

10. To study the role played by Paytm in making India Digital.

11. To understand the effort behind fulfillment of brands objective through campaigns

39
Hypothesis

H0:There is an acknowledgment level for Paytm as another option to the money

exchanges among individuals

H1: There is an acknowledgment level for Paytm as another option to the money
exchanges among individuals.

H0: Services offered by Paytm are adaptable in supporting the Cashless Economy

H1: Services offered by Paytm are not adaptable in supporting the Cashless Economy

H0: Paytm is a solution to the India Demonetization.

H1: Paytm is not a solution to the India Demonetization

H0: People give importance to Paytm in their day to day life.

H1: People don‘t give importance to Paytm in their day to day life.

H0: Paytm plays an important role in making India Digital.

H1: Paytm does not play any role in making India Digital.

H0 : There is no growing adaptation of Paytm services.

H1:There is growing adaptation of Paytm services

40
Scope of the Study

The scope of the research is to know how did Paytm grow in India. The marketing strategies and plan it used
to grow its services in India. How Demonetization affected Paytm and how Paytm used Demonetization to
its advantage in increasing its services and capturing majority of the e wallet market share . The research will
help to know what plans does Paytm has and how it will expand its business in the market and how
competition affects Paytm business structure.

The research will help to know how many people are aware about Paytm services and will help to increase
its awareness among the people. It helps to find out how many people use Paytm services on a daily basis
and how many still don‘t use its services

This research focuses on PayTm service users Mumbai in general. The scope of the research will describe
the relationship between PayTm services on safety & security transaction speed, convenience, recharge,
ticket booking, shopping, booking hotels, insurance premium and transfer of funds. Which can directly
influence on the customer satisfaction level and intention to use in further. Moreover, the respondent of this
research will randomly select from business people and educational group in Mumbai who are normally use
the PayTm services in Mumbai.

41
Limitations of the Study

1. Method of data collection was through personal interview and therefore bias becomes a major
limitation.

2. Due to the vast customer all over India all the customers were not covered.

3. The entire respondents are not willing to provide all the information with regard to their user‘
experiences.

4. The scope of the study is restricted only to the Mumbai City, have the result is not applicable to other
than the Mumbai City.

5. It is very difficult to check the accuracy of the information provided.

6. The method will be unsuitable if the number of employee to be surveyed is less as it will be difficult
to draw logical conclusions regarding the digital marketing concepts at Paytm.

7. All the observation and recommendation has been made on the feedback obtained from survey.

8. All the secondary data was not readily available.

42
Significance of the Study

The research is done to analyze the growth of Paytm in India and what strategies and plans does Paytm have
to remain in the market and to face it‘s competitors and stay ahead from others as the competition is more
fierce in today‘s market.

Today more organizations are recognizing the importance of satisfying and retaining current customers. It is
not enough to be skilful in attracting new customers, the organization must keep them. Today‗s organization
must pay closer attention to the customer defection rate (the rate at which they lose customer). Here in case
of PayTm thus the need for study on customer satisfaction is important since it is highly depending on the
customer opinions and expectations there by using that information to change its strategies.

Paytm needs to improve its services and products as the competition is very fierce in today‘s market. Paytm
needs to come with innovative features and services as to stay ahead of the competition and it needs to look
after the customer satisfaction as they can easily switch over to competitors as multiple options are available
in the market right now. Paytm needs to keep the customer satisfied and make them to stay as long as
possible with them.

43
 Data Collection

Methodology is the systematic, theoretical analysis of the methods applied to a field of study. It comprises
the theoretical analysis of the body of methods and principles associated with a branch of knowledge.
Typically, it encompasses concepts such as paradigm, theoretical model, phases and quantitative or
qualitative techniques. A methodology does not set out to provide solutions - it is, therefore, not the same
thing as a method. Instead, it offers the theoretical underpinning for understanding which method, set of
methods or so called ―best practices‖ can be applied to specific case, for example, to calculate a specific
result.

It has been defined also as follows:

1. "the analysis of the principles of methods, rules, and postulates employed by a discipline"
2. "the systematic study of methods that are, can be, or have been applied within a discipline"
3. "the study or description of methods‖.

RESEARCH DESIGN

The research design is purely and simply the framework of plan for a study that guides the collection and
analysis of data. Types of Research Design:

1. Exploratory Research – The main purpose of such studies is that of formulating a problem for more
precise investigation or of developing the working hypotheses from an operational point of view.
2. Descriptive Research – Those studies which are concerned with describing the characteristics of a
particular individual, or of a group.
3. Hypothesis Testing Research – They are those where the researchers tests the hypotheses of casual
relationships between variables. Descriptive research design was used for this research.

44
A research design is a systematic plan to study a scientific problem.

The design of a study defines the study type (descriptive, correlation, semi-experimental, experimental,
review, meta-analytic) and sub-type (e.g., descriptive study), research question, hypotheses, independent and
dependent variables, experimental design, and, if applicable, data collection methods and a statistical
analysis plan.

Design types and sub-types

There are many ways to classify research designs, but sometimes the distinction is artificial and other times
different designs are combined. Nonetheless, the list below offers a number of useful distinctions between
possible research designs.

● Descriptive (e.g., case-study, naturalistic observation, Survey)

● Co relational (e.g., case-control study, observational study)
● Semi-experimental (e.g., field experiment, quasi-experiment)
● Experimental (Experiment with random assignment)
● Review (Literature review, Systematic review)
● Meta-analytic (Meta-analysis)

Sometimes a distinction is made between "fixed" and "flexible" or, synonymously, "quantitative" and
"qualitative" research designs.[2] However, fixed designs need not be quantitative, and flexible design need
not be qualitative. In fixed designs, the design of the study is fixed before the main stage of data collection
takes place. Fixed designs are normally theory driven; otherwise it is impossible to know in advance which
variables need to be controlled and measured. Often, these variables are measured quantitatively. Flexible
designs allow for more freedom during the data collection process. One reason for using a flexible research
design can be that the variable of interest is not quantitatively measurable, such as culture. In other cases,
theory might not be available before one starts the research. However, these distinctions are not recognized
by many researchers, such as Stephen Gorard who presents a simpler and cleaner definition of research
design.

45
 Data Collection

Primary Data: the data which is collected first hand or by the investigator himself. It means that this is the
information which the investigator collects himself/herself through interviews, door to door survey,
questionnaire and others.

Secondary Data: the data which is collected second hand or through a already existing piece of information.
It means the information which we take from the internet, newspaper, newsprint or a journal. This includes
all the thing which are already printed and we are taking out information from them.

Sampling Design

SOURCES FOR DATA COLLECTION:

(a) Primary Data Collection Sources:

It has been collected by forming a proper questionnaire. Questionnaire is a systematic and structured manner
of collecting data for conducting experiment. The nature of the questionnaire is very inductive and
fundamental. It has been kept in a proper framework to make it clear to the retailers.

Primary data can be collected in five main ways:

i) Observation
ii) Focus groups
iii) Surveys
iv) Behavioural data
v) Experiments

Among these, ‗survey method‘ was selected to collect the primary data. 100 user
were visited & collected the required data relevant to this project.

46
(b) Secondary Data Collection Sources:

Secondary sources

Information was collected from secondary sources such as customer survey,

newspapers advertisements, newsletters, etc.

Beside these the use of Internet was also made in collecting relevant information.
The data collected from the above mentioned sources has been adequately structured
and used at appropriate places in the report.

The information gathered included:

• Their annual reports.
• Pamphlets.
• Newsletters.
• Pictures.
• Exchange schemes

UNIVERSE/POPULATION:

Univariate analysis is the simplest form of quantitative (statistical) analysis. The analysis is carried out with
the description of a single variable in terms of the applicable unit of analysis. For example, if the variable
"age" was the subject of the analysis, the researcher would look at how many subjects fall into given age
attribute categories.

Univariate analysis contrasts with bivariate analysis – the analysis of two variables simultaneously – or
multivariate analysis – the analysis of multiple variables simultaneous. Univariate analysis is commonly
used in the first, descriptive stages of research, before being supplemented by more advanced, inferential
bivariate or multivariate analysis.

47
SAMPLING UNIT

Sampling techniques can be broadly classified in to two types:

● Probability Sampling
● Non Probability Sampling

This project will be based on the non-probability, purposive, quota sampling. As in the given project
the sample will be considered specific to predetermined Mumbai City.

SAMPLE SIZE

It is the process of selecting representative subset of a total population for obtaining data for the study of the
whole population the subset is known as sample. The sample size is selected for the study 50 user. The
techniques of sampling unit in this study are convenience sampling.

Sampling Technique

Sampling techniques can be broadly classified in to two types:

● Probability Sampling (here the every item in the universe have the equal chance of inclusion in the
sample)

● Non Probability Sampling (Here the item in the sample are deliberately selected by the researcher)

This project will be based on the non-probability, purposive, quota sampling. As in the given project the
sample will be considered specific to predetermined Mumbai City

Tools Used for Data Analysis

● Bar chart (Bar charts will be used for comparing two or more values that will be taken over time or
on different conditions, usually on small data set )

● Pie-chart (Circular chart divided in to sectors, illustrating relative magnitudes or frequencies)

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 Literature Review

● Prof Trilok Nath Shukla in his paper ―Mobile Wallet: Present and the Future‖ (June 2016) has
discussed about mobile wallet, working, types and its advantages and disadvantages. His analysis
included perception of consumers and retailers about mobile wallets. He concluded that mobile
wallets will be used to engage with the customer by the marketers and digital businesses. Irrespective
of the market status of these mobile wallets, marketers should take advantage of the emerging
opportunities.
● Vijay Shekhar Sharma. (Paytm founder) Oct 23, 2018 China‘s Alibaba and Japan‘s SoftBank-
backed Paytm Mall is stepping up focus on categories like grocery and fashion, which can increase
repeat customer transactions as it looks to compete with Walmart-backed Flipkart and Amazon India,
which control over 80%of the online retail market. Paytm Mall wants to differentiate itself, with
online to offline (O2O) push to deliver 50% of the orders in 24 hours from 33% right now,

● Kiran Vasireddy, COO – Paytm, December 12, 2018said, ―Paytm has become the preferred
payment choice amongst customers for in-store payments in India. Today, Paytm is accepted at the
largest variety of stores ranging from large brand outlets to online platforms as well as small retailers
across India. With ‗Paytm Cashback Days‘, we celebrate our customers choosing Paytm as their
preferred mode for payments at offline or online merchants by rewarding them with the best deals &
cashback of the year. This will be a significant part of our efforts to push the adoption of mobile
payments in the country & also help our Merchant partners significantly.‖

● Dr. Poonam Painuly, Shalu Rathi in their paper ―Mobile Wallet: An upcoming mode of business
transactions‖ (May 2016) has explained about mobile wallet, types and trends. Then discussed about
Role of mobile wallet in various sectors like Banks, Retail and Hospitality. The paper explains the
importance of mobile wallet for Banks, Customers and Companies. In future scope it talks of mobile
wallets becoming a latest marketing channel in near future. And contribute highly in a seamless
shopping experience for the customers that increase their tendency for frequent and more repurchases
with delightful experiences. To conclude they speak the importance and growth of mobile money in
business, social and economic prospective. The presence of mobile wallet spreading from urban to
rural areas on a large scale. Hence, wallet money sees a high bright future in near time.

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● S. Nazim Sha, Dr. M. Rajeswari, in this research reviewed that,‖ Paytm is one among the best
mechanical advancement in the present century and the administrations offered by Paytm helps in
time utilization. Fruitful treatment of Paytm by purchasers and shippers is the best case of its positive
effect in the general public. Paytm is the best case of an organization which used online business in
advertising better‖.

● DR. S. Manikandan, J. Mary Jayakodi, (2015) says that, ―Mobile wallet usage awareness as
spread among the people in India due to Government policy of demonetization and this has forcefully
induced the usage of mobile wallet .The security issues are tighten and risk factors are reduced will
automatically increase the adoption of mobile wallet and the issues the convenience and ease of use
as gained an credit to mobile wallet and it can be concluded that they will be a tremendous growth in
adoption of mobile wallet in the forthcoming years.‖

● Dr. Karminder Ghuman and CS Shruti Srivastava in their paper ――Recharging: the Right Way??
A case study on e-payment giants: Freecharge & PayTM‖has asked readers a strategic question that
in the emerging internet based service provision industry, whether it is a better strategy to develop a
unique positioning on the basis of single key service or it‘s better for an organization to offer
multiple services, thereby reducing risk, increasing traction and thus increasing its valuation? And
thus they have compared Paytm and Freecharge who are employing opposite strategies to find out
which one is better.

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 Data Analysis And Interpretation

1. Age group of people using Paytm App

The survey is done to find out the age group of people who use Paytm between the ages of 15-20, 21-25, 26-
30 and 31 above. Based on these Paytm can find out which age demographic uses Paytm and provide
services based on that.

Interpretation:

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Out of the total 50 responses received, 36% of the people belongs to age group of 15-20, 30% of the people
belongs to age group of 21-25, 24% of the people belongs to age group of 26-30 and 10% of the people
belongs to age group of 31 and above. So based on these majority of the people are young who use Paytm so
paytm can provide services based on these demographic.

2. Where do you get to know about Paytm?

The survey is done to find out that where does people get to know about Paytm app i.e from where they are
getting to know about Paytm such as through friends and family, social media, advertisement or television
and newspapers. Based on that Paytm can find out where does people are getting to know about Paytm and
focus on that area.

Interpretation:

Out of the total 50 responses received, majority 40% of the people are getting to know about Paytm through
friends and family, 32% are getting to know through advertisement, 24% of the people are getting to know
through social media and 4% of the people are getting to know through television and newspapers. So based
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on these as majority of people are getting to through word of mouth Paytm should work to improve its image
and customer satisfaction level.

3. People aware about the functions of Paytm

The survey is done to find out that people are aware of the function and services of Paytm app or not.
Based on these Paytm can find out how many people are not aware and work on to inform people
about it functions and services.

Interpretation:

Out of the total 50 responses received, majority 42% of the people are partially aware about the functions of
Paytm, 30% of the people are fully aware about the functions of Paytm, 20% of the people are somewhat

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aware about the functions of Paytm and 8% of the people are not aware at all. So based on these most of the
people are not fully aware about the functions and services of Paytm , so paytm needs to work hard and
inform more people about it functions and how does it work.

4. Which E-Wallet people prefer to use?

The survey is done to find out which e-wallet does people prefer to use from the various options available
today such as Paytm, Google Pay, Mobikwik, Phonepe and Amazon Pay. Based on these Paytm can find out
how many people use Paytm app and how many doesn‘t and see how competitors are giving competition.

Interpretation:

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Out of the total 50 responses received, majority 52% of the people uses Paytm app, 36% of the people uses
Google Pay, 10% of the people uses Phonepe and 2% of the people uses Amazon Pay. So based on these
majority of the people uses Paytm app followed by Google Pay, so paytm is getting competition from
Google Pay and needs to work more on these.

5. How often people use Paytm?

The survey is done to find out how often people uses Paytm app on a monthly basis. Based on these Paytm
can find out how much time does people spend on Paytm app and see how much engagement it receives and
improve its performance and services.

Interpretation:

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Out of the total 50 responses received, majority 39.6% of the people uses Paytm once a month, 27.1% of the
people uses Paytm app few times a week, 18.8% of the people uses Paytm app weekly and 14.6% of the
people uses Paytm app daily. So based on these Paytm‘s app engagement is quite low as majority of the
people uses Paytm once a month, Paytm needs to work and get more engagement.

6. How much monthly transaction do people do through Paytm?

The survey is done to find out how much money does people spend through Paytm app on a monthly basis.
Based on these Paytm can find out how much money is spent by the people through Paytm app and they can
provide more offer and benefits to increase the transactions.

Interpretation:

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Out of the total 50 responses received, majority 62.5% of the people spend less than Rs 500 through Paytm,
18.8% of the people spend between Rs 500-1000 through Paytm, 12.5% of the people spend between Rs
1000-2000, 6.3 % of the people spend more than Rs 2000 on a monthly basis through Paytm app. So based
on that people are spending very less on Paytm , it needs to improve its services and provide better offers
and discounts to increase the monthly transaction of the people.

7. Why do people prefer to use Paytm?

The survey is done to find out why people prefer to use Paytm app, what services and facilities people like to
use on Paytm app. Based on these Paytm can find out why people are using the app and improve on its
services.

Interpretation:

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Out of the total 50 responses received, 28% of the people uses Paytm app because it is time saving, 28% of
the people uses Paytm app because it is easy to use, 26% of the people uses Paytm app because of cashless
transaction service it provides and 18% of the people prefers to use Paytm app because of secure transaction.
So based on that Paytm can improve its services and provide better facilities so that people keep on using
Paytm app.

8. What do people use Paytm for?

The survey is done to find out why do people use Paytm app , which service people prefer to use such as
mobile recharge, money transfer, utility and bill payment, movie ticket booking or shop purchases.
Based on these Paytm can find out why people Paytm app for and they can improve their services.

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Interpretation;

Out of the total 50 responses received, majority 40.4% of the people uses Paytm app for mobile recharge
services, 23.4% of the people uses Paytm app for money transfer service it provides, 17% of the people uses
Paytm app for utility and bill payment, 14.9% of the people uses for booking of movie tickets, 2.1% of the
people uses it for shop purchases and 2.1% of the people uses it for all the options provided. So based on that
Paytm is used for various services it provides.

9. What do people keep in mind while using Paytm?

The survey is done to find out what do people keep in mind while using Paytm app, what people are
looking for while using the app. Based on these Paytm can find out what people are looking for while
using the app and provide them with better offers and services to them.
.

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Interpretation:

Out of the total 50 responses received, majority 61.2% of the people looks for cashback offers, 20.4% of the
people looks for discounts while using the Paytm app, 12.2% of the people looks for premium offers while
using the app, 2% of the people looks for facility it provides, 2% of the people looks for ease in use while
using the app and 2% of the people looks for nothing.

10. Do people believe transactions are secured in Paytm?

The survey is done to find out that people believe that transactions done through Paytm are secured or
not. Based on these Paytm can focus and work to improve its security services and protects customers
information.

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Interpretation:

Out of the total 50 responses received, majority 48% of the people agrees transaction are secured through
Paytm, 26% of the people are neutral they are not sure that transactions done through Paytm are secured or
not, 20% of the people strongly agrees transaction are secured, 4% of the people disagrees transaction are
not secured and 2% of the people strongly disagrees that transactions done through Paytm are not secured.
So based Paytm needs to improve its security services and inform people transaction are secured.

11. Does Paytm promotes cashless transactions in India?

The survey is done to find out that does people believe Paytm promotes cashless transaction in India or
not. Based on these Paytm can focus and work to improve its cashless transaction services and reduce
use of hard cash.

Interpretation:
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Out of the total 50 responses received, majority 52% of the people likely believes that Paytm promotes
cashless transaction in India, 34% of the people very likely believes that Paytm promotes cashless
transaction, 10% of the people maybe believes that it promotes cashless transaction, 2% of the people
unlikely believes that it doesn‘t promotes cashless transaction, 2% of the people very unlikely believes that
Paytm doesn‘t promotes cashless transaction in India.

12. Do people believe Paytm is widely used across India?

The survey is done to find out that people believes that Paytm is widely used across India or not and it‘s
services are available or not. Based on these Paytm can find out how many people believes Paytm is widely
used across India and work to improve its services all across India.

Interpretation:

Out of the total 50 responses received, majority 54% of the people likely believes Paytm is widely used
across India, 26% of the people maybe believes that Paytm is widely used across India, 18% of the people

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very likely believes Paytm is used across India and 2% of the people very unlikely believes Paytm is not
used across India. Based on these Paytm can find out Paytm is widely used across India or not and improve
its services all across India.

13. Are people satisfied using Paytm?

The survey is done to find out that people are satisfied or not using Paytm app. Based on these Paytm can
find out how many people are satisfied with its services or not and work to improve its services and
satisfy the customers and improve its image.

Interpretation:

Out of the total 50 responses received, majority 50% of the people are satisfied using Paytm app, 18% of the
people are very satisfied with Paytm app, 18% of the people are neutral that is they are neither satisfied or
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dissatisfied, 8% of the people are not satisfied with Paytm, and 6% of the people are very dissatisfied with
Paytm app. So based on these Paytm can find out how many people are not satisfied with Paytm services and
provide them with better offers and services.

14. People rating Paytm based on their experience from 1 to 5 stars

The survey is done to find out how many star rating people are giving to Paytm app based on their
experiences from 1 to 5 stars where 1 is lowest and 5 is highest. Based on these Paytm can find out how
many star rating they have received from based on their experiences.

Interpretation:

Out of the total 50 responses received, 10 people have given 5 stars rating to Paytm app based on their
experiences, 16 people have given 4 star rating to Paytm, 14 people have given 3 star rating to Paytm, 4
people have given 2 star rating to Paytm and 6 people have given 1 star rating to Paytm based on their
experiences. So based on these Paytm rating is quite average and they work and satisfy more customers and
improve their image.

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 15. Does people like to continue using Paytm in the future?

The survey is done to find out that people will like to continue using Paytm app in the future or not. Based
on these Paytm can find out how many people will use Paytm in the future and how many can switch over to
the competitors.

Interpretation:

Out of the total 50 responses received, majority 44% of the people are likely to continue using Paytm app in
the future, 22% of the people are very likely to continue using Paytm, 20% of the people maybe will
continue to use Paytm app, 8% of the people are unlikely to continue using Paytm app, and 6% of the people
are very unlikely to continue using Paytm app in the future. So based on these Paytm can find out how many
will not use app and may switch over, Paytm need to work hard and retain its customers from stopping to use
the app.

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 16. Would people like to refer Paytm to other people?

The survey is done to find out how many people would like to refer Paytm app to other people or not. With
these Paytm can find out how many will refer Paytm app to others and how many will not refer it , so paytm
needs to work hard and satisfy its customers so that they refer the app to other people.

Interpretation:

Out of the total 50 responses received, 38% of the people are likely to refer Paytm app to other people, 28%
of the people are very likely to refer Paytm app to others, 22% of the people maybe will refer Paytm app to
other people, 4% of the people are unlikely to refer Paytm to others, and 8% of the people are very unlikely
to refer Paytm app to other people. So based on these Paytm needs to satisfy it‘s customers so that they refer
Paytm app to other people.

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 Findings

1. Majority of the respondent belongs to the age group of 15-20 and 20-25 that use Paytm out of the 50
respondent in Mumbai City.

2. Most of the respondent i.e 40% of the people get to know about Paytm from their friends and family and
32% people get to know about Paytm through advertisement.

3. Most of the respondent i.e 42% of the people are partially aware about the function of Paytm, 30% are
fully aware about it and 8% are not aware about it at all.

4. It is revealed that majority of the respondent i.e 52% people use Paytm followed by 36% that use Google
Pay.

5. It is revealed that 39.6% of people use Paytm only once a month 27.1% use Paytm few times a week

6. Majority of the respondent i.e 62.5% of people transact less than Rs 500 a month and 18.8% transact
between Rs 500-1000 monthly.

7. It is revealed that 28% of the respondent prefer to use Paytm because it is time saving and other 28%
people prefer to use Paytm because it is easy to use and 26% people use because of cashless transactions

8. It is revealed that majority of the respondent i.e 40.4% people use Paytm for mobile recharges and 23.4%
people use Paytm for money transfer services.

9. While using Paytm app majority of the respondent i.e 61.2% people looks for cashback and 20.4% looks
for discounts.

10. It is revealed that majority of the respondent i.e 48% people agree that transactions are secured in Paytm
and 26% people are neutral about it.

11. Majority of the respondent i.e 52% people believe that Paytm promotes cashless transaction and 34%
very likely believe Paytm promotes cashless transaction.

12. It is revealed that 54% of the respondent believes Paytm is used widely across India and 26% are not
sure that Paytm is widely used or not.

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13. Out of the 50 respondent majority 50% of people are satisfied using Paytm app while 8% are not
satisfied and 6% people are very dissatisfied with Paytm app

14. It is revealed that 20% people have given a 5 stat rating, 32% people have given 4 star and 28% people
have given a 3 star rating to the Paytm App.

15. It is revealed that 44% of people will likely, 22% of people are very likely to use Paytm in the future and
6% people are very unlikely to use.

16. It is revealed that 38% of people will refer Paytm App to other people 28% people are very likely to refer
and 8% are very unlikely not to refer it to other people.

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 Suggestions

● From the researcher suggested that the respondents are satisfied by PayTm service. But level of
satisfaction is low in the following areas shopping, ticket booking, transaction speed, grievance
handling methods, service charges, mini statement.

● There is a 4% interest charge on services provided by paytm. So to avail more customer paytm
should minimize or avoid there charges.

● Paytm should provide internet or wifi facility to vendors who provide paytm facility to
their customer.

● Paytm‘s should look into recharge coupon being available in rural areas so people can use paytm
even if they do not have bank accounts.

● Paytm should focus more on Research and Development and upcoming technologies advancements
in the digital market as competition has increased in the market.

● Paytm should come up with offline features while paying through paytm wallet

● Paytm should bring new features and advancement in the UPI paying system as Google Pay has lot
market share in that and Paytm is far behind.

● It is suggested that Paytm marketing strategies be brought into alignment to prevent mixed messages
and to promote the availability of the online forums for interaction. Offline advertising should be
used to complement the online media. Adding ―visit us on Facebook‖ and other such texts to
promotional material will help to raise awareness.

● The Paytm‘s digital networking strategy should sufficiently flexible to allow it to adapt to new
developments and to determine what works and what does not work.

● A dedicated social media co-ordinator is recommended to monitor the impact of any changes
implemented. A dedicated co-ordinator would also allow for consistency in communication. At the
very least a profession agency experienced in digital media marketing should be consulted at from
the earliest planning stages.

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● The reviews and complaints raised by the customers on the Paytm app should be effectively managed
and proper actions should be taken by the management and the action taken should also be
communicated to the customer.

● Paytm should see that feedback shared on the review social networking sites such as Facebook,
LinkedIn, Twitter, Google+, holidayiq.com & TripAdvisor is an opportunity to improve the service
offering.

● Paytm should see that the ability to interact with the customers of the company should be viewed as a
very positive aspect by any business. It offers very real insight into how paytm company is viewed
by the customers and other people.

● The promotional offers during season on should be displayed on the Social Network Site on regular
basis, so that large number of customers is captured.

● It is suggested and would like to request the PayTm to probe in to the suggestions mentioned and
take actions, if necessary for the benefit of PayTm services.

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 Conclusion

Paytm is one among the best mechanical advancement in the present century and the administrations offered
by Paytm helps in Time utilization and furthermore it is anything but difficult to utilize. What's more, for the
up and coming business visionary's Paytm example of overcoming adversity would be extremely
motivational and a lesson to learn before beginning another wander. Achievement of Paytm could be it was a
plan of action presented in the wake of concentrate the current circumstance winning in our nation and that
is the reason it went ahead to wind up outstanding amongst other arrangement after demonetization. Can get
consideration in the general public as it centres around making mindfulness among individuals. Instructing
individuals about its administrations. Fruitful treatment of Paytm by purchasers and shippers is the best case
of its positive effect in the general public. Paytm is the best case of an organization which used online
business advertise better.

PayTm usage awareness as spread among the people in India due to government policy of demonetization
and this as forcefully induced the usage of PayTm. PayTm supports their customers to transfer their
payments with the usage of their mobile phones in the easiest way. PayTm officers should frequently visit
the customers and enquire about their requirements and problems they face. PayTm has to increase its
advertising in television media in order to increase the awareness to the general public. PayTm services may
also introduce some sales promotion activities, such as cash discounts, reduce service charges and gift etc. It
can be concluded that they will be a tremendous growth in adoption of PayTm in the forthcoming years.

PayTm supports their customers to transfer their payments with the usage of their mobile phones in the
easiest way. PayTm is a good app to download due to its wide network of partners which makes it
convenient whether you're taking a cab ride with Uber, or ordering a meal via Foodpanda. PayTm has to
work upon the Payment gateway to improve the transaction efficiency as 70% people faced problem with
payment gateway. Only 5% people claim to have got assistance every time they had a failure so the service
could be improved to cater the needs of maximum customers. PayTm is currently performing well in terms
of privacy but it has to work upon discounts/offers, transaction time and bring about innovation
to increase customer satisfaction.

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 Bibliography and References

● https://en.m.wikipedia.org/wiki/Digital_wallet

● https://en.m.wikipedia.org/wiki/Paytm

● https://m.economictimes.com/definition/e-wallets/amp

● https://www.thestreet.com/technology/what-is-a-digital-wallet-15100753

● https://gadgets.ndtv.com/apps/features/what-is-paytm-and-how-to-use-paytm-wallet-1625271

● https://blog.paytm.com/how-to-use-paytm-5613fda6956b

● https://www.quora.com/What-exactly-paytm-is-how-does-it-work-and-how-can-one-use-it

● https://scholar.google.com/scholar?oe=utf8&gcc=in&ctzn=Asia/Kolkata&ctf=1&v=10.99.8.21.arm64&f
heit=0&biw=411&bih=818&ntyp=15&ram_mb=5733&gs_lp=

● https://www.livemint.com/Companies/XnJ2wwF6DAZKWMITR3J22H/Paytm-valuation-pegged-at-10-
billion-after-secondary-share.html

● https://www.ft.com/content/0172916e-1a5e-11ea-97df-cc63de1d73f4

● https://www.researchgate.net/publication/331036463_OPPORTUNITY_ANALYSIS_THE_STORY_OF
_PAYTM_DURING_DEMONETISATION

● https://www.business-standard.com/article/companies/paytm-raises-a-billion-dollars-at-a-valuation-of-
16-bn-plans-expansion-119112500012_1.html

● https://inc42.com/buzz/paytm-rolls-out-750-cr-expansion-plan-but-is-it-enough/

● https://www.code-brew.com/blog/2017/11/10/paytm-became-largest-digital-bank/

● http://ifiweremarketing.com/14-clever-ideas-marketing-paytm-digital-wallet/
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● Painuly, Dr. P., Rathi, S., Mobile Wallet: An upcoming mode of business transactions, International
Journal in Management and Social Science, Vol.04 Issue-05, pp. 356-363,

● May, 2016. Shukla, T. N., Mobile wallet: present and the future, Vol. 5, No. 3, June 2016 (ISSN 2278 –
5973). Available: ssijmar.in/vol5no3/vol5no3.6.pdf

● Ganguly, Payal; Bhakta, Pratik (5 December 2016). "Paytm to transfer wallet business to payments
bank". Economic Times. Retrieved 31 May 2017

● Scott DM (2009). The New Rules of Marketing and PR

● Paytm valuation jumps to $1.5 billion". January 16, 2015 – via Business Standard.

● Ghuman, , S., Recharging: the Right Way?? A case study on e-payment giants: Freecharge &
PayTM, IOSR Journal of Business and Management, pp. 87-92. Available: www.iosrjournals.org/iosr-
jbm/papers/Conf.15010/Volume%201/14.%2087-92.pdf

● Shwetu Kumar, Vijay Yadav, Atiqu-Ur-Rahman, Aditi Bansal (2014). ―A Project Report on Paytm‖.
https://www.slideshare.net/vijay7o/paytm.

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