19LCMD026 Dilip G - 220706 - 115618

“A STUDY ON THE ADOPTION OF E-PAYMENT FOR
THE SUSTAINABLE GROWTH IN ONLINE

BUSINESS ”
Project submitted in partial fulfillment of the requirements for the award of the
Degree in
MASTER OF BUSINESS ADMINISTRATION

BANGALORE UNIVERSITY
Submitted by
Mr. DILIP G
Reg. No. 19SLCMD026
Under the guidance of

DR SWETA BHASIN
ASSISTANT PROFESSOR
THE OXFORD COLLEGE OF BUSINESS MANAGEMENT,
HSR LAYOUT, BENGALURU-560102.
2019-2021
DECLARATION BY THE STUDENT
I hereby declare that “A STUDY ON THE ADOPTION OF E-PAYMENT FOR
THE SUSTAINABLE GROWTH IN ONLINE BUSINESS” is the result of the

project work carried out by me under the guidance of Dr.SWETA BHASIN in partial
fulfillment for the award of Master’s Degree in Business Administration by Bangalore
University.
I also declare that this project is the outcome of my own efforts and that it has not been
submitted to any other University or Institute for the award of any other degree or Diploma
or Certificate.
Place: Bangalore DILIP G

Date: Reg No: 19SLCMD026
ACKNOWLEDGEMENT
The successful completion of any task would be incomplete without mentioning the people
who made it possible and whose constant guidance and encouragement secured us and our
success.
I would like to acknowledge my sincere gratitude for the constructive guidance and
encouragement I received from “THE OXFORD COLLEGE OF BUSINESS
MANAGEMENT”, affiliated to Bangalore University throughout the completion of my
study.
I thank my guide, Dr. SWETA BHASIN (Assistant Professor), The Oxford College of
Business Management, who spared her time and gave me practical suggestion and guidance
throughout this study..
I extend my gratitude to our principal Dr. NIKITHA ALUR for her kind of support and
help for the study.
I would like to thank my parents and friends who helped me to complete this project
successfully.
Place: DILIP G
Date: (REG NO: 19SLCMD026)

BANGALORE UNIVERSITY
Certificate of Originality (Plagiarism)
Name of the student : DILIP G
Registration Number : 19SLCMD026
Title of Project : A Study On the adoption of e-

payment for the sustainable
growth in online business
Name of the Guide : DR. SWETA BHASIN
Similarity Index (%) identified : 6%
(Acceptable maximum limit of similarity 25%)
Project ID number in DRILLBIT : 1665779396
The Project report has been checked using turn tin anti-plagiarism Software and
found within limits as per plagiarism Policy and Instructions issued by the
UNIVERSITY.
We have verified the contents of the Project report, as summarized above and
certified that the statements made above are true to the best of our knowledge
and belief.
Signature of the Guide Signature of the Principal

TABLE OF CONTENTS
CHAPTER NO CHAPTER NAME PAGE NO
1. INTRODUCTION TO E- 1-38
PAYMENT
2. RESEARCH DESIGN 39-46
3. RESPONDANCE PROFILE 47-58
4. DATA ANALYSIS AND 59-78

INTERPRETATION
5. FINDING, SUGGESTION AND 79-82

CONCLUSION
BIBLIOGRAPHY
ANNEXURES
LIST OF TABLES
TABLE NO TABLE OF CONTENTS PAGE NO
TABLE SHOWING GOODS AND

4.1 SERVICES THAT ARE PURCHASED IN 60
ONLINE
TABLE SHOWING BIGGEST CONCERNS

4.2 WHILE MAKING ONLINE PAYMENT 61
TABLE SHOWING COD V/S ONLINE

4.3 62
PAYMENT PLATFORMS
TABLE SHOWING AWARENESS ABOUT

4.4 63
ONLINE PAYMENT
TABLE SHOWING PAYMENT METHOD

4.5 64
USING WHILE BUYING IN ONLINE
BASED ON OCCUPATION
TABLE SHOWING SECURITY

4.15 74
MEASURES IN ONLINE PAYMENT
LIST OF CHARTS
CHART TABLE OF CONTENTS PAGE NO

NO
CHART SHOWING GOODS AND SERVICES THAT
4.1 ARE PURCHASED IN ONLINE 58
CHART SHOWING THREAT USING ONLINE

4.2 PAYMENT 59
CHART SHOWING COD V/S ONLINE PAYMENT

4.3 SYSTEM 62
CHART SHOWING WHO INFLUENCED YOU TO USE
4.4 ONLINE PAYMENT 63
CHART SHOWING WHICH PAYMENT METHOD YOU
4.5 ARE USING WHILE MAKING ONLINE PAYMENT 64
CHART SHOWING FREQUANCY OF USING E-
4.6 PAYMENT 65
CHART SHOWING WHICH DIGITAL PLATFORM DO
4.7 YOU USE 66
CHART SHOWING MOBILE PAYMENTS ARE
4.8 EXPECTED TO CONTINUE WITH CONTINUES 67
GROWTH
CHART SHOWING TREND IN BUYING GOODS AND
4.9 SERVICE OVER THE INTERNET THROUGH ONLINE 68
PAYMENT
CHART SHOWING E-PAYMENT OFFERS
4.10 CONSUMERS AND MERCHANTS SEND AND 69
RECEIVE PAYMENT
CHART SHOWING E-PAYMENT ARE BETTER THAN

4.11 70
CASH
CHART SHOWING HAVE YOU EVER LOST MONEY

4.12 71
DUE TO FRUAD
CHART SHOWING MOBILE PAYMENTS ARE

4.13 72
EXPECTED TO USE CONTINUE WITH CONTINUES
GROWTH
CHART SHOWING E-PAYMENTS SAVES TIME AND
4.14 73
MONEY
CHART SHOWING SECURITY MEASURES AGAINST

4.15 74
VARIOUS KINDS OF ONLINE BANKING ATTACKS
CHART SHOWING NUMBERS OF DIGITAL BUYERS

4.16 75
IN INDIA FROM 2014 TO 2020
4.17 CHART SHOWING MOST POPULAR PAYMENT 76

METHOD IN INDIA
CHART SHOWING IMPACT OF THE COVID-19 ON

4.18 77
DIGITAL PAYMENTS IN INDIA AS APRIL 2020
CHART SHOWING OPINION ABOUT PURCHASING

4.19 78
ITEMS AFTER LOCKDOWN RELAXTION IN INDIA
“A Study on the adoption of e-payment for the sustainable growth of online
business .”
CHAPTER-1
1.1 INTRODUCTION TO E-PAYMENT
Meaning of Bank:
A Bank is a financial institution and a financial intermediary that accepts deposits and
channels those deposits into lending activities, either directly or through capital
markets. A bank connects customers that have capital deficits to customers with
capital surpluses.
Banking in India originated in the last decades of the 18th century. The first banks
were The General Bank of India, which started in 1786, and bank of Hindustan, which
started in 1970, both are now defunct. The oldest bank in existence in India, which
originated in the Bank of Calcutta in June 1806, which was almost immediately,
became the Bank of Bengal. This was one of the three presidency banks, the other two
being the bank of Bombay and the bank of Madras, all three of which were
established under charters from the British East India company. For many years the
Presidency banks acted as quasi-central banks. The three banks merged in 1921 to
form the Imperial Bank of India, which upon India independence, became the state
bank of India in 1955.
Definition:
As per Section 5(b) of Bank Regulation Act 1948 “Banking means the accepting, for
the purpose of lending or investment, of deposits of money from the public, repayable
on demand or otherwise, and withdrawal by cheques, draft, order or otherwise.”
RBI the controlling author of finance sector. They are responsible for the monitoring
regulation of this sector. RBI has the authority to determine the loan rates, deposit
rates, repo rate, reverse repo rate, statutory reserve ratio. All the major decisions are
taken by the central government. The branches of the banks and ATMs of the banks
can be opened only with the prior permission from RBI. It also provides loans to the
banks as well as the government as per their needs.
THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 1

business .”
All banks which are included in the Second Schedule to the Reserve Bank of India
Act, 1934 are scheduled banks. Scheduled Commercial Banks in India divided into
five different groups according to their ownership and nature of operation. Those are
• State Bank of India and its associates

• Nationalized banks
• Regional rural banks
• Foreign banks and
• other Indian scheduled commercial banks
1.State Bank of India: State Bank of India is popularly known as SBI was formed in
1921 by bank of Madras Bank of Calcutta Bank of Bombay and named as imperial
Bank of India later it was renamed as the State Bank of India on July 1, 1955, when
the Government of India acquired 60% of stake in imperial Bank of India.
2.Nationalized banks: nationalization refers to the transfer of public sector assets to

be operated owned by the state of central government. in India, the banks which were
previously functioning under private sector work transfer to public sector by the act of
nationalization and does the nationalized banks come into existence. presently there
are more than 25 nationalized banks which are working around the nation.
3.Regional rural banks: regional rural banks or Indian scheduled commercial banks
operating at the regional level in different states of India. with a view of surviving
primarily the rural areas of India with basic banking and financial services.
4.Foreign banks: a foreign bank is a type of international Bank that is obligated to

follow the regulation of the home and host countries through branches.
5.Other scheduled commercial banks: are commercial bank is a type of bank that
provide services such as accepting deposits, making business loans, and offering basic
investment products that is operated as business for profit.
1.2 FUNCTION OF COMMERCIAL BANKS:
• Accepting deposits: the primary function of every bank is accepting deposit in

various ways, i.e., saving deposits, current deposit, fixed deposit and recurring
deposit. and certain interest will be paid on the principle.

business .”
• Granting loans and advances: the bank of advance loan to the business community
and other members of the public through overdraft, cash credit, loans, discounting bill
of exchange. the rate is charged higher than deposit on those advance and loans.
• Creation of credit: the commercial banks advance a major portion of their deposits
to borrow and keeps smaller part of deposits to the customers on demand.
• Foreign trade: the commercial banks internal and foreign trade through discounting
of exchange bills and facilities the movement of internal and external trade.
• Remittance of funds: on account of their network of branches throughout the
country, also provide facility to remit funds from one place to another for their
customers by issuing Bank drafts, Mel transfer on nominal commission charges.
• Agency services: commercial banks perform some agency services such as all
collection and payment of credit instruments, purchase and sale of securities,
collection of dividends on shares act as a correspondent income tax consultancy,
trustee and executor.
• General utility services: general utility services such as
✓ Safe deposit vaults
✓ Collection of cheques, bills, promissory notes
✓ Issuing letter of credit
✓ Bank drafts
✓ Automated teller machine (ATM)
✓ Debit card
✓ Credit card
✓ Tele-banking
✓ Internet banking
1.3 INTERNET BANKING
Internet is a channel of service to their customers. the access to account information

as well as transaction is offered through the world-wide-web network of computer on
the internet. it is also called as we banking online services started in New York in
1981 14 of the city’s major bank City bank, Chase Bank, chemical, manufacturers
Hanover offer home banking services using the video text system. it is provided with
the pink similar to the of ATM or phone banking the access to account is allowed to
the customers upon a match of the account details and pin entered on the computer

business .”
system. A higher level of security may be reached by an electronic fingerprint.

transactions such as e-business, railway-air, reservation, payment of bills, and transfer
of money can be carried out while sitting in the house with the help of an internet.
type of e-banking or information only system, electronics information transfer system,
phone banking /mobile banking.
1.31 E-BANKING ISSUES AND RISK:
Security issue: It may arise due to the unauthorized access to a bank’s key
information like accounting system, risk management system and product of folio
management system. A breach of security could result in direct financial loss to the
bank in additional to external attacks,
banks are exposed to security risk from internal source. example employees can
acquire the authentication data in order to access the customer accounts causing loss
to the bank.
Operational issue: it may rise due to inaccurate processing of transaction, non

enforceability of contract, compromises in data integrity, that are privacy and
confidentiality, and other authorized access introduction to banks system and
transactions etc., this risk may arise due to the weakness in design, implementation
and mentoring of bank’s information system, inadequate technology, negligence by
customers and employees, founder lent activity by employees and hackers, Bank face
the risk of wrong choice of technology, in proper system design and inadequate
control processes. technology, which is outdated not cable or not proven, may lead to
loss of bank’s investment and risk its business. many banks rely on outside service,
operate and maintain their e banking systems since they do not have the request site
providers implement expertise. however, it adds to the operational risk.
Legal issue: it arises when violation of laws, rules and regulation or prescribed
practices takes place, or when the legal rights and obligations of parties to a
transaction or not well established. these risks may also arise due to uncertainty about
the validity of same agreement formed via electronic media and law regarding
customer disclosure and privacy protection. E-Banking extends the geographic reach
of banks and customers we are national borders which may lead to cross-border risks.
the risk involved legal and regulatory risk, as there may be uncertainty about legal

business .”
requirement in some countries and jurisdiction ambiguity with respect to

responsibilities of different National authorities such as consideration may expose
banks to legal risks associated with non-compliance of different National laws and
regulations. cross-border transactions also involve credit risk, since it is difficult to A
rise and application for a loan from a customer in another country. banks accepting
foreign currencies in payment for electronic money may be subjected to market risk
because of movement in foreign exchange rates. the risk of unauthorized data
alteration is real in an e banking environment, both when data is being transmitted or
stored. Proper access control and technological tools to ensure data integrity is of
utmost importance to banks. Bank systems must be technological e equipped to
handle these risks. the risk of unauthorized data alteration is real in an e banking
environment, both when data is being transmitted or stored. proper access control and
technological tools to ensure data integrity is of at most important to. bank’s system
must be technological equipped to handle these risks.
Reputational issues: it is the risk of the getting a significant public opinion, which
main results in loss of s.manjushree.8@gmail.com our customers. the main reason for
this release may be system or product not working to the expectations of the
customers, system deficiencies, and security breach, is adequate information to
customers about product use and problem resolution procedures, problems with
communication networks that a customer’s access to their funds or account
information. this may cause the customer to discontinue the use of product/service. a
banking transaction for conducted remotely, banks may find it difficult to apply
traditional method for detecting and preventing undesirable criminal activities, which
may lead to money laundering risk. application of money laundering rules may also
be inappropriate for some forms of electric payments.
1.4 E -BANKING RISKS
Transactional/operational risk: it arises from fraud, processing errors, system

disruption, or other an anti separated events resulting in the institutions in ability to
deliver products or services. this risk exists in each product and service offered. level
of transaction risk is affected by the structure of the instructions processing
environment, including the types of services offered and the complexity of the process
and supporting technology. in the most intense, e banking activities will increase the

business .”
complexity of the institution’s activities and the quantity of each transaction operation
risks, specially if the institution is offering innovative services that have not been
standardized. Since customers expect e banking services to be available 24 hours a
day, 7 days a week, financial institutions should ensure their E-Banking
infrastructures contain sufficient capacity and redundancy to ensure reliable service
availability. Even institutions that do not consider E-Banking critical financial service
due to the availability of alternate processing channels, should carefully consider
customer expectations and the potential impact of service description on customer
satisfaction and loyalty. the key of controlling transaction risk lies in adapting
effective policies procedures and controls the meet the new risk exposures introduced
by E-banking.
Credit risk: generally, of financial institutions credit risk is not increased by the
mayor fact that alone is originated through an E-Banking channel. However,
management should consider additional precautions when originating and approving
loans electronically, including a sharing management information system effectively
track the performance of property file laws originated through e banking channels. the
following aspects of online loan organization and approval tends to make a risk
management of the lending process more challenging. If not properly managed, this
aspect can significantly increase credit risk.
➢ Verifying the customers identity for online credit applications and executing an
enforceable contract.
➢ Monitoring and controlling the growth, pricing, underwriting standards. and ongoing
credit quality of loans originated through e banking channel.
➢ Monitoring and oversight of third parties doing business as agent or on behalf of
financial institution (for example, and internet loan organization site or electronic
payment processor)
➢ Valuing collateral and perfecting, liens over a potentially wider graphic area
➢ collecting loan from individuals over a potential divider geographic area and
➢ Monitoring any increase volume of, and possible concentration in, out of area lending.
Liquidity, interest rate, price/ market share risk: funding and investment related
risk could increase with an institution in banking initiatives depending on the
volatility and pricing of the acquired deposits. The internet provides institutions with

business .”
the ability to market their product and service globally. internet based advertising
programs can effectively match and focused investors with potentially high yielding
deposits. but internet originated deposit has the potential to attract customers who
focus exclusively on rates and provide a finding source with risk characteristics
similar to brokered deposits. and institution can control this potential volatility and
expanded geographic reach through its deposit contract and account opening
practices. which might involve face-to-face meetings are the exchange of paper
correspondence. the institution should modify its policies as necessary to address the
following E-Banking funding issues.
➢ Potential increase in dependence on broker funds are other highly rate sensitive
deposits.
➢ Potential acquisition of funds from market where the institution is not licensed to
engage in banking, particularly if the institution does not establish, disclose, and
enforce geographic restrictions.
➢ Potential impact of loan or deposit growth from an extended internet market,
including the impact of such growth on a capital ratio; and
➢ Potential increase in volatility of funds should be in banking security problems
negatively impact customers confidence or market perception of the institution.
Compliance / legal risk: compliance and legal issues arise out of the rapid growth in
usage of e banking and differences between electronic and paper-based processes. E-
Banking is a new delivery channel where the laws and rules governing the electronic
delivery of certain financial institution products or services may be ambiguous or still
evolving specific regulatory and legal challenges include.
➢ Uncertainty over legal jurisdiction and which states are countries laws specifies e
banking transaction,
➢ delivery of credit on deposit letter disclosures/ notice as required by law or regulation,
➢ retention of required compliance documentation for online advertising applications,
statement, of disclosure and notices and
➢ Establishment of legally binding electronic agreements
Strategic risk: a financial institution border and management should understand the
risks associated with e banking services and evaluate the resulting risk management

business .”
costs against the potential return on investment area to offering a banking services for
e banking planning and investment discussions can increase a financial institutions
strategic risk early adopters of new banking services can establish themselves as in
voters who anticipate the needs of their customers but maybe do so by encouraging
higher cost and increased complexity in their operations conversely late adaptors may
be able to avoid the higher expense and added complexity but so at the risk of not
meeting customer demand for additional products and services in managing the
strategic risk associated with banking services financial institutions should developed
here early defined banking objectives by which the institution can evaluate the
success of its e banking strategy in particular financial institution should pay attention
to following
• cost involved in entering e banking activities are cost involved in overseeing banking
vendors and technology service providers.
• design delivery and pricing of services adequate to generate sufficient customer
demand.
• retention of electronic loan agreements and other electronic contracts in a format that
will be admissible and enforceable in litigation.
cost and availability of staff to provide technical support for interchanges involving
multiple operating systems web browsers and communication devices competition
from other E-Banking providers and adequacy of Technical operational compliance
for marketing support for e banking product and services.
Reputation risk: an institution decision to offer e banking services especially the

more complex transactional services significantly increase its level of reputation risk
some of the ways in which e banking can influence and institutions reputation include
➢ Loss of trust due to unauthorized activity on customer accounts

➢ Disclosure or theft of confidential customer information to unauthorized parties
➢ Failure to deliver on marketing claims
➢ Failure to provide read labels service due to the frequency of duration of service
disruption
➢ Customer complaints but the difficulty is using e banking services and the inability of
institutions help desk to resolve problems and

business .”
➢ confusion between services provided by the financial institution and services provided
by the other businesses linked from the website as noted in the previous section e
banking has unique characteristics that may increase as an institution's overall risk
profile and the level of risk associated with the traditional financial services
particularly strategic operational legal and reputation risk this unique you banking
characteristics include
1. Speed technological change
2. changing customer expectations increased visibility of publicly accessible networks
(e.g., the internet)
3. Less face-to-face interaction with financial institution customers
4. Need to integrate e banking with the institution legacy computer systems
5. dependence on third parties of necessary technical expertise and proliferation of
theatres and vulnerabilities publicly accessible networks.
Management should review each of the processes discussed in this section to adapt
and expand the institution's risk management practices as necessary to adjust risk
posed by e banking activities.
1.5 INTRODUCTION TO E-PAYMENT
Electronic payment / E-payment: in E-commerce environment payments take the

form of money exchange in an electronic form and are therefore called electronic
payment. The merchant sells the goods to customers and customer pay the price with
the help of E-payment system E-payment system is a secure there should be no threat
to the user credit number, smart card or the other personal detail payment can be
carried out without involvement of third party it makes e payment at any time through
the internet directly to the transfer settlement and form e business environment.
Evolution of E-payment system:
The mid-20th century breaks through in mainframe computing enabled interbank

settlement which gave rise to open loop payment cards in the 1966 and 1917 magnetic
stripe technology brought the digitization of the point of sale by the late 1990s
electronic commerce has become mainstream creating new opportunities for Internet
payment the advent of smartphones and connected devices in the 2010s give rise to
the mobile and Omni - channel commerce, blurring the boundaries between in store

business .”
and online shopping to keep pace online marketplaces, bricks and mortar related
retailers participant in The sharing economy and government agencies for all
demanding new ways to pay and be paid payment technology companies or extending
network capabilities to support the long tail of innovation the retail payments industry
is categorized by specialization and collaboration with many companies working
together to deliver a secure and reliable service.
Background of E- payments:
e-payment system is originated in Europe countries there are large difference between
countries in terms of existing infrastructure and user habits gradual innovation is
obtained based on existing banking and card infrastructure only the banking sectors in
a few European countries have achieved interoperability agreements or even standards
that facilitate integrated Bank payment from Bank payment from online merchant
websites in upcoming day as a innovation in the banking sector leads to digital
wallets.
The following steps are carried out for payments during online procedures:
1. the payment procedure is initiated by the applicant the applicant selects a bank.
2. Your payment request is sent to the bank that contains an XML message with a
redirection URL that points to the government application in response to the bank
opens a session and forwards the user to give URL
3. the authority application forwards the applicant onto the online banking application
of his bank after it has been authenticated the payment transaction is carried out
4. before the transaction carried out by the authority the bank checks if there is still a
connection open between the bank and the authority
5. after the connection is confirmed by the authorities the bank carries out the money
transfer
6. A confirmation message is sent to the authorities stating whether the payment was
successful or not.
7. The authority response with an acknowledgement message.
8. the payment process is finalized, and the applicant is referred back to the authority’s
application

business .”
Components of effective electronic payment system: -
1. Consumer and browser: - are consumer interact with the online commerce system
through a web browser typing Khali a consumer first accessing a shopping mall and
then uses the hyperlink from the mall to access the merchant home page
2. Shopping mall: - a shopping mall is where most consumer first visit for us shipping
free there will be several shopping malls and it may pay to enlist with one or more
well-known Mall
3. Merchant system: -it consists of homepage and related software to manage the
business.
4. Banking network: - it consists of several components there is Bank that processes
the online financial transaction for the given merchant the bank maintained the
account for merchant raised and processes to the payment The merchant Bank also
maintains link with the consumer bank for verifying the transaction.
Advantages of E-payment
• Easy tracking of payment and audit trail

• Reduces corruption
• Hold money and transfer it in various ways
• Probability and convenience
• It is efficient and effective
• it is convenient and can equally be done with wireless devices like tablet PC
smartphone etc.
• It will improve the quality of financial reports
• It has real-time reporting/ payment solution
• Elements stress particularly in writing the cheques and equally reduce the risk of
stolen checks in the event of first signature disparity in amount in words figure etc.
• It promotes good governance
• Promote economic growth and development
• Transparency and accountability
• Prevent forgery and illegal copying of e-cash

business .”
Disadvantages of E-payment:
• Payment gateways and third-party payment processes charge service fees

• Online payment methods or inconvenient for offline sales
• cybercriminals can disable online payment methods or exploit them to steal people's
money or information
• Internet and server problems can disable online payment methods
• Online payment methods can go down due to the technical problems.
1.6 COUNTRIES POSITION IN E-PAYMENT SYSTEM:
1. India’s overall ranking on the government adaptation of e payment has moved up to

28 in 2018 from 36 in 2011 the country is taking rapid strides in advancing
government e payment capabilities and is one of the top performing countries in terms
of citizen government business to government and business to business transaction
2. As per ministry of finance report December 2016 on digital payment financial
inclusion is one of the foremost challenge facing India 53% of Indian population had
access to formal financial services in this context digital payment can act as
accelerator to financial inclusion increasing availability of mobile phone availability
of data networking infrastructure rollout of 3G and 4G networks and large argent
ecosystem are the critical enablers of digital payment in India it is further supported
by coordinating efforts of industry regulator and government as per RBI report vision
2018 for strategy focusing on regulation re best infrastructure effective supervisory
mechanism and customer centricity has been adopted to push adaptation of digital
payment in India.
3. The percentage of cash for transaction has seen a rapid decline in the past few years in
India in 2010 the percentage of cash in all payment was 89% compared with 78% in
2015 this rapid decline is a result of an increased adaptation of non-cash instruments
such as cards and digital payments such as mobile wallets and prepaid and gift cards
have made payment through internet devices convenient and easy India represents one
of the largest market opportunities for digital payments with a population of 1.25
billion Indian account for roughly 18% of global population the two key drivers of
digital payment mobile phones and internet users are already well established in India

business .”
to date India has about 1.0 billion mobile phone subscribers and 300 million internet
users ranking s on both metrics globally.
1.7 TYPES OF E-PAYMENT: -
1.Credit cards: our credit is a piece of plastic, 3-1/8 inches by 2-1/8 inches in size the
Carriers information that allow you to make purchase now pay for them later credit
cards from why MasterCard or any other network allow you to pay for purchase or
services by borrowing for credit card company to purchase goods from merchant who
accept credit cards such as merchant has credit card and reader to purchase the
payment transaction to withdraw cash from ATM you then repay my making monthly
payment towards the amount borrowed that is you don’t have to repay the whole
borrowed amount in fill at one go.
2.Debit card : debit card is a prepaid card and also known as ATM card and
individual has to open an account with the issuing bank which gives debit card with a
personal ID number when he makes a purchase he enter his pin number on shop pin
pad when the card is slurped through the electronic terminal it del the acquire a
banking system either master and r visa card that validate the pin and find out from
the issuing Bank whether to accept or decline the transaction the customer can never
was spent because the system reject any transaction which exceeds the balance in his
account the bank never face a default because the amount spent is debated
immediately from the customer account with almost every bank account.
3.Smart card: Master card was first presented in Europe the greater part of this
strategy is known as put away worth card. A keen card is about the size of Visa, made
of a plastic with an inserted microprocessor chip that holds significant monetary and
individual data. The microprocessor chip is stacked with the important, data and
intermittently re-energized. Not withstanding these snippets of data, frameworks have
been created to store cash onto the chip. The cash on the card is saved in a scrambled
structure and is ensured by a secret key to guarantee the security of the brilliant card
arrangement. To pay through keen credit is important to bring the card into an
equipment terminal. The gadget requires a unique key from the responsible bank to
begin a cash move one or the other way. Master card can be expendable, or battery
powered.

business .”
4.ElectronicCheque: Electronic cheque is message that contain all the information

that is found on an ordinary cheque, but it uses digital signature for signing and
endorsing and has digital certificate bank account. There are many websites that
accept electronic payment process that resembles the function of paper cheques but
offers great security and more features. Electronic cheques are typically used in order
processed online and are governed by the same laws that apply to paper checks.
Electronic cheques offer protective measures such as authentication and digital
signatures to safeguard digital transformation.
5.Electronic cash: online equivalent of a stored value card. The user can transfer
money from a credit card or bank account into an e-cash account. It can then be used
to make payments for e-commerce transactions. Advantages- it can be operated
cheaply as the whole operation of the system is on the net. Similar to regular cash, e-
cash enables transactions between customers without the need for banks or other third
parties. When used, e-cash is transferred directly and immediately to the participating
merchants and vending machines. Electronic cashes a secure and convenient
alternative to bills coins.
6.Digital wallet (Electronic wallet): Electronic wallets being very useful for frequent
online shoppers are commercially available for pocket. Palm-sized and handled and
desktops and PCs. They Store personal and financial information such as credit card,
password, PINs, and much more. To work with the charge card request measure,
numerous organizations are presenting electronic wallet administrations. E-wallets
permit you to monitor your charging and delivery data so it very well may be entered
with a single tick at taking part vendor's locales. E-wallets can likewise store e-
checks, e-money, and Mastercard data for different cards. The digital wallets to start
their operation in India need permission from RBI. And they will be under the close
watch from them. Digital wallets of the banks also come under preview of the RBI.
The RBI revises its policies as the changes in the market situation and alters it in such
a way that we are able to get maximum benefit out of it.
1.8 WHAT IS DIGITAL WALLET AND MOBILE WALLET
Digital wallet or mobile wallets (e-wallet) refers to a device or service that lets you
carry out monetary transactions electronically. Cashless payments for monetary

business .”
transactions can be done through a Digital Wallet. And you can also link your digital
wallet with your mobile phone number.
India has seen an exceptional expansion in the quantity of advanced wallet clients.
The country is gradually moving towards being a credit only economy. A Digital
Wallet or a Mobile Wallet makes you life simpler by assisting you with completing
exchange in a speedy and simple manner.
1.9 DIGITAL WALLET v/s TRADITIONAL BANKING:
Banks operates in the market which is fast changing and in order to retain and grow
their market share they must constantly adapt to the changes of market and customer
preference. the service offered by bank has constantly kept pace with the changes in
the market. they introduced cheque, debit card, credit card, and ATM interbank
transfer.
But in any of the service the customer has to make a physical move to incite the
transactions. so, the banks went in for advancement in technology the online banking
service. where customer can English incite the transaction without any physical
movement. but the digital violet interactions as a major threat to the banks. which for
the lead to the introduction of digital wallet by banks some of the digital valid banks
are, ICICI pocket, HDFC Payzapp, City master pass. and YONO SBI.
Digital wallet most popularly known as “e-wallet” referring the online service for
making electronic transaction by an individual. this valid can be used to purchase
online or from store nowadays most of the stores. or providing the facility of valid
payment. the credentials have been passed to the merchant’s terminal wirelessly
through Near Field Communication (NFC).
In a valid the customer or not required to fill the details again and again all the data
stored and is automatically updated into the respective files across the merchant sites.
the information is encrypted by a private software code and merchant or protected
against fraud while using digital wallets. Wallets are available free of charge to the
customers, but the vendors are charged a specific percentage for every transaction
they make. this wallet of refund back office in the transaction performed by the
customers which attract more customers for using this wallet.

business .”
Keeping money in electronic wallet can be used whenever required for making
payment for various reason or send money to anyone. repayment emperor was
organization, government, business, individual to avoid hard cash and make cashless
payments for various services food and beverages, ticket for events movies, rail, bus,
Air, etc. local public transport.
1.10 Top 20 digital wallets in India:
1.PayTM: India’s largest payment platform is currently handling millions of

transactions. This platform which makes instant payment was founded in 2010. It is a
platform which provides a digital wallet to store money.
Need to use Paytm
Payment made through Paytm in India accepted almost everywhere across the nation.
It allows you to do much more than carry out your ecommerce transaction. Paytm
wallet can also be used to make bill payments, transfer money and avail service from
travel, entertainment and retail industry.
2. Google pay: Google per has quickly made a name for itself as one of the best
digital wallets in India. Google per has been a late entrant in the market of digital
wallet in India; it has quickly managed to make an impact on the users thanks their
hassle-free services currently, Google per has more than 25 million a month active
user for the e-wallet in India.
Use of Google pay
By using this pilot, you can send and receive money instantly in your bank account
using Google pay UPI. it is directly connected to your bank account and your
registered phone number. You can easily send money to your friend; recharge your
phone, pebbles and much more through this. this helps you to save time that you
would rather spend in time on reloading and violets and doing additional KYC which
is generally required for another digital wallet in India.
3.Amazon pay: the global Giant i.e., Amazon has developed its own digital valid
known as Amazon pay. It was launched in 2007 globally. However, Amazon pay was
launched in India a decade later I.e., in 2017 more than 33 million people use Amazon
pay a digital wallet to make payment for various transaction.

business .”
Use of Amazon pay
previously it is used to make payments when you purchase something from Amazon.
Now amazon lets you make payments through Amazon pay while transacting with
selected merchants. Amazon pay also offers various benefits like discount and cash
back. Amazon pay allows you to access data from the site of the merchant in seamless
manner. Therefore, helping you streamline your purchase process. Similarly, you can
transact without entering information like credit card or debit card details, address,
etc., while doing this you can be sure for securities in Amazon has restrictions when it
comes to data security, your data is safe and secure without losing I some of the major
attractions of using Amazon pay digital wallet is there brilliant general usability,
mobile support along with a rich feature set
4.Phonepe: phonepe is an All-in-One UPI best digital payments app. It is one of the
most popular digital wallets in India. Phone per has been able to across the hundred
million download mark within just four years since its existence. The app is powered
by Yes bank and launched by Flipkart, how to gain weight in their respective
industries. The app crossed the hundred million users mark in 2018 and its growing
day by day.
Need to use of phonepe
People can do everything through this app, from UPI payments to paying through the
phonepe e-wallet, from QR code payment to paying through your debit and credit
cards. phonepe is not just like any other digital wallets in India. It has many features
in the app that make your life easier. Get great deals and cashback on bill payments,
food outlets, shopping, and much more through phonepe. It ensures data security
against cyber criminals. Along with this phone pay is a multi-language app. The app
is available in English, Hindi, Marathi, Tamil, Bengali and more. Therefore, making it
easier for easier for users to use the app seamlessly the nation.
5.FREECHARGE: freecharge, one of the most famous names right now when it
comes to the digital payment in India. All their promotions. Kunal Shah and Sandeep
Tandon founded freecharge in 2010, to make easier for people to transact through
their digital wallets in India.
Use of freecharge

business .”
With an equivalent number of coupons given for every recharge you make, it’s great
option to save while paying your bill in online. Along with that their “chat-n-pay”
service helps user to chat and pay their friends and merchants instantly. Freecharge
offers exclusive deals and coupons to the customers who use freecharge digital wallet.
The freecharge digital wallet in India can be used to make both online as well as
offline payment. Similarly, you can also use freecharge to make payments at
merchants like hyper city, McDonald’s, Cinepolis, shoppers Stop, home stop,
crosswords, and more.
6.BHIM: this digital wallet is backed by the reserve Bank of India and launched by
the national payment’s corporation of India. BHIM is probably one of the best digital
wallets in India based on UPI. The BHIM digital was launched in India by prime
minister Narendra Modi for all the Android users. BHIM has played an important role
in the quest of make India as cashless economy.
Need to use of BHIM
This wallet in India supports all the banks across the nation. Along with that BHIM
lets you send and receive money using virtual payment address where in you can
transact without disclosing your bank detail consequently, it allows merchants to
transact with customers by using fingerprint scanner, which is obtained through the
Aadhar Card database. BHIM enables QR code scan and payment option, likewise,
you can generate your own unique UP pin for QR code with the app. Also, you don't
need to worry about security issues as your login expires after 90 seconds of inactivity
to minimize inappropriate and fraudulent use of your data. Additional e, BHIM also
provide shoot a transaction history to make sure you keep a check on your
transactions through the app.
7.JioMoney: jioMoney launched recently in 2016 by Jio, is a digital payment app.

The app is inspired by the concept of digital wallets in India. Similarly, the JioMoney
app lets you get all the benefits of cash.
Need to use of JioMoney
With this wallet one can receive great discounts and offers. Users can also bookmark
their frequently visited retailers so shopping can be made quicker than usual. The best
thing about jioMoney is that it can be used by people who do not have Jio as their

business .”
telecom service provider. And if you own a Jio LYF mobile phone, you get exclusive
access to the app that is preloaded with discounts and offers from selected merchants.
The JioMoney digital wallet in India also enables you to make secure digital
payments from anywhere. Along with that, the app is very easy for everyone to use
and quite simple to navigate.
8.HDFCPayZapp: It is making digital wallets in India simplified. Consequently, it is

one of the top digital wallets in India with one-click payments. Payzapp is a complete
digital payment solution.
Use of HDFC PayZapp
Users can easily c or pay bills compare flight and hotel tickets and even buy music or
pay bills with the app. Simply connect your debit or credit card once and forget to
worry about making payments. It is probably one of the best one clicks payment
solution digital wallets in India. And it lets you enjoy amazing offers at smart buy;
you can send money to anyone in your phone book through their digital wallet in
India. The digital wallet app is fast, secure and convenient to carry out digital
payments. Above all, you don’t need to reload money again and again in your
payzapp digital wallet in India. Because once you link your debit or credit card, you
won’t need to worry about reloading your e-wallet. Likewise, the app keeps your
details secure with the bank and the data isn’t stored on any phone or website.
Consequently, Payzapp conducts three security checks for each transaction by
proprietary technology.
9.Citi MasterPass: Citi MasterCard is one of the free digital wallets in India
launched by Citi Bank India and MasterCard. It is India’s first global digital wallet
which helps you make the checking out process quicker on e-commerce sites. The co-
branded MasterPass solution is the first of its type of Asia and Indian marketplace.
Need to use of Citi MasterPass
Users also get the benefits of services like storing all your credit, debit, loyalty cards,
and shipping details in one place. Citibank credit and debit card users are able to shop

business .”
with more than 250000 online merchants. Once you have stored all your payment and
shipping details in your Citi wallet, simply click on the MasterPass button and it will
take care of the rest.
10.Mobikwik: Mobikwik is Gurgaon based e-wallet payment system in India that

helps its users store their money. Their payment system of digital wallet in India was
founded in 2009 by Bipin Singh, Upasana Taku. Mobikwik large network connects
more than 25 million users with approximately 50k merchants through their payment
system of digital wallets in India.
Use of Mobikwik
Their e-wallets payment system enables you to recharge, pay bills, book travel tickets,
and make third-party purchases through Mobikwik digital wallet. Similarly, the digital
wallet app allows you to buy digital gold, insurance, get a personal loan on
Mobikwik, and you can also invest in mutual funds through one of the best digital
wallets in India. You can carry out transaction by adding money to your digital wallet
through your debit card, credit card, net banking. Their service is not just limited until
there, you can also opt for doorstep cash collection and use it to pay bills and shop
through their digital wallets in India.
11.YONO SBI: YONO SBI is a digital wallet in India that’s available in 13

languages. Subsequently, YONO is also available for non-SBI consumers. It is one of
the best digital wallets in India thanks to the national reach of The State Bank of
India.
Use of YONO SBI
With YONO SBI your convenience is met by making digital payments a hassle-free
process. Users can send money via the digital wallet of YONO SBI to other bank
accounts, book hotels or movie tickets and much more. You can set a reminder for
money transfers and dues through this app. It is one of the best digital wallets in India
as it offers an additional service of providing mini statement for the transactions that
you carry out through YONO digital wallets in India. The app puts some of Indians
largest range of goods and services at your fingertips. Similarly, the app lets you

business .”
invest and bank digitally; you can also book IRCTC train tickets, flights, and
vacations through the app.
12.Ola Money: Ola is one of the fastest growing startups in India and in 2015; it
launched its own digital wallet. They have developed one of the best digital wallets in
India. Above all, Ola money is amongst the easiest, fastest, and safest way of
transacting through digital wallet in India. You can use this digital wallet to pay your
Ola rides.
Use of Ola Money?
Ola money has made cashless travelling a dream come true. However, you can use
Ola money to buy groceries, flight tickets, and much more. The Ola money app lets
you transact with your stored money on the Ola money digital wallet at various online
merchants. The best thing about Ola Money digital wallets in India that you can
withdraw your Ola Money to your bank account. And the app also lets you avail
offers with partner merchants like MyBus Tickets. Similarly, Ola Money looks to
partner with more and more merchants in the near future to give you more options to
browse through the app.
13.Mswipe: It is the first mobile point-of-sale solution in India, founded in 2012 to

help make digital payment hassle-free. They have managed to raise around USD 98
million worth of founds through various funding rounds and from various investors.
Mswipe technologies plan to have 1.5 million merchants using their platform by
2019-20. You don’t exactly get an app, but you get a machine that can be attached to
your mobile device to accept card payments.
Use of Mswipe.
This may not be a digital wallet app, but it does support going cashless. Consequently,
Mswipe is also planning to add new features in their app that make it easier for
customers and merchants to carry out transactions, they are planning to add features
like UPI payments and payments by using a QR Code. With the newly added features,
it will be easier for you as customers or merchants to keep a check on your
transactions, record your sales, and manage notification in a single place. The secure
mobile POS solution by Mswipe works with smart phones, computers, tablets, and
link to the bank account.

business .”
14.Vodafone M-Pesa: The use of digital wallets in India has increased year on year
and mobile wallets like Vodafone M-Pesa have given users a convenient way of
payments. Hence, it is one of the most commonly used digital wallets in India. With
M-Pesa efficient digital wallets in India, you can make safe and hassle-free
transactions through your phone.
Use of M-Pesa
You can recharge your mobile phone, DTH and pay for various utility services
through Vodafone M-Pesa. One thing separate Vodafone M-Pesa from all the other
digital wallets in India is that it helps users collect cash from their outlets when
someone transfers money into the users M-Pesa wallet. Vodafone M-Pesa has made
this service available to users across more than 120000 outlets. M-Pesa gives you 5%
cashback on your transactions. If you want to send money to someone, just enter their
number along with the amount and the secret 4-digit code before sending. Once you
send the money, the recipient can show the SMS along with an ID Proof at nearest M-
Pesa outlet to withdraw the money.
15.Oxigen: In 2014 Pramod Saxena founded Oxigen to offer digital payment services
throughout their digital wallets in India. Currently, they are one of the major providers
of digital wallets in India. With around 20 million customers along with 15000
registered merchants and more than 50000+ outlets using Oxigen digital wallets in
India. Along with making online purchases and paying bills, you can also send gift
cards to your dear ones.
Use of Oxigen
You can also recharge your mobile, data cards, and DTH connections through oxigen
digital wallet. Enjoy paying and shopping seamlessly through oxigen digital wallet in
India. The oxigen e-wallet also lets you explore exclusive discounts and cash back
offers under the ‘Deals and Offers’ section of the app. Also, the app lets you get a
consolidated view of your transactions in ‘My Wallet’. You can send money to any
mobile number on any telecom network in India. Similarly, you can send money to
any of the 170+Banks in India through IMPS or NEFT.
16.Citrus Pay: Citrus Pay is powered by PayU, and it is one of the top digital wallets
in India. Having been launched in 2011, they have quickly made their mark on the

business .”
market of digital wallets in India. They have built a network that spans across more
than 21 million customers along with 8000+merchants. They are one of the leading
digital wallets in India used by online merchants.
Use Citrus Pay
The offer a Citrus wallet for customers as well as payment solutions to business. And
you can send or receive money, share cabs, split bills, and do much more by just using
your mobile number on the Citrus Pay e-wallet. It has definitely earned its spot as one
of the best digital wallets in India.
17.Airtel Payments Bank: Bharathi Airtel is one of the leading companies in the
telecom industry. Airtel Payments Bank is a subsidiary of Bharathi Airtel. It becomes
the first live payment bank in India. Similarly, Airtel Payments Bank is also the first
company to receive payments bank license from the RBI. The company is a joint
venture between Bharathi Airtel Ltd. And Kotak Mahindra Bank Ltd. However,
Kotak Mahindra Bank holds approx 19.9% stake in the company.
Use of Airtel Payment Bank
With the Airtel Payments Bank app, users can easily recharge prepaid accounts or pay
postpaid bills. You can also shop online if your digital wallet has cash loaded in it. It’s
also extremely safe as every transaction or payment you can make through Airtel
digital wallets or mobile wallets requires secret 4-digit pin. It offers you two of the
most important things when it comes to digital transaction i.e., Quick transactions and
Security. On top of that one of the best part using the app is you can enjoy your
favorite movies and music on the go. Consequently, you also get free access to
entertainment platforms like Amazon Prime, Netflix, ZEE5, Wynk Music, Airtel TV,
HOOQ Live TV, and Airtel Books.
18.PayUMoney: It is a part of PayU India. And it is a free payment gateway solution

through digital wallets in India. Similarly, it is one of the most popular digital wallets
in India. Thanks to PayU’s immense presence in the digital payment industry.
Currently, more than 4.5 lakh business use PayU money to carry out their digital
payments.
Use of PayUMoney

business .”
It provides award winning payment gateway solutions to business by using state-of –

the-art-technology. Along the way, it is very helpful for merchants to collect
payments from customers via debit and credit cards or net banking and more. They
offer SMS and email invoicing for merchants that do not have website. This mobile
wallet offers reward points on every transaction. The best thing about this wallet, it
gives PayUMoney Buyer Protection.
19.MomoeXpress: MomoeXpress, a Bengaluru based digital wallet in India, claims

to have the fastest checkout system. Through they are only available in Bengaluru;
they have wide range of solutions they offer to residents in Bengaluru. It is the future
of cashless payments.
Use of MomoeXpress
MomoeXpress is working towards a goal where money will only be a number on your
phone. No cash, no coins. Although it is only available in Bengaluru, MomoeXpress
is one of the fastest digital wallets in India. Because, with MomoeXpress paying
through digital wallet is really fast, 0.3 seconds to be precise. You save approximately
5 minutes per payment you make. Plus, it can be used in numerous places like paying
for rickshaw ride, salons and spas, there are over 3000 outlets available at your
disposal.
20. ICICI pockets: ICICI is one of the leading Indian multinational banks currently,
it is the largest private sector bank of India ICICI pocket is and digital payment best
app for mobile phones. the digital valid in India services was started to make your
lives easier by enabling you to make digital payment in an easy way.
Use ICICI pockets
The app uses a virtual VISA card to enable users to transact on any website or mobile
across the nation. ICICI pockets wallet is not just limited two uses of ICICI banks,
you can find your digital wallet through any bank account. The apps digital wallet lets
you transfer money. split expenses, book entertainment tickets, and do much more
with one of the best digital wallets in India. And jeans this Shiva write uses virtual
VISA you can transact on any app or website in India.

business .”
1.11 PROS OF ELECTRONIC FOR DIGITAL WALLETS:
When you are carrying an electronic wallet, you get limit the number of cards you
carry when you travel. You no longer have the requirement to carry a lot of cash with
you either. you or all you need to do e stamp your device to the payment receptacle,
or have your mobile device scanned, to pay for the items you are purchasing. that
means you are no longer carrying a bucket full of items when you go.
1. It provides access to other types of cards:

Electronic wallets typically store credit card and debit cards. They can be used for a
wide variety of card, however, if the provider is compatible with the valid you are
using. That means you can store reward cards, loyalty cards and even coupons within
your digital wallet, Halloween you to enjoy more of a paperless lifestyle.
2. It offers more security:
If the person has a wad of cash in your pocket that gets lost, you have 0 option
available to you to recover your funds. Losing the credit cards means you must
contact each cylinder to cancel each card. Then have a new one issue. With an
electronic violet, the information is stored through a third-party provider. It’s locked
behind your password or biometrics. Even if you lose your device. you still have to
access to your hi valid once you get a new device.
3. It can be used at retailers and online store:
electronic Paradise have become widely accepted within the past few years the most
location that accept card as a payment option will allow you to pay with your
electronic wallet. Although there are still some locations that are using older
processing technologies, which does not limit some product or service access, the
number of retailers who provide payment actress in this manner continuous to
increase each year.
4. It requires users to authorize every transaction:
Electronic wallets function like a debit card when initiating a transaction. they require
you to input your pin to authorize payment. For device with biometrics, a payment
mode requires your fingerprint to authorize it. That gives you another layer of security
against unauthorized purchase or the financial risks associated with identity theft.
5. It may offer access to new rewards:

business .”
Mini electronic wireless offers in actives to encourage consumers to use them instead
of traditional payment methods. You may find discounts apply to certain purchases
such as fuels, food, travel. some businesses may work with your valid provide to offer
specific discount as well. That can and means you have the potential to save money
without changing your spending habits. You are just changing how you pay for those
items.
6. It could help you with your budget:
Mini electronic wallet can help you track your spending habits. Some may generate
reports that show you specific categories of spending. You can also assign fixed
budgets to specific cost categories to ensure that you are not spending more than you
should on certain items. If you have a big-ticket item to purchase, however, you can
disable this feature to make sure there is enough money available to make the
payment.
Cons of Electronic wallets
1.It is not fully available worldwide:
The number of retailers which accept payment from an electronic wallet depends on
the actual violet the customers choose. There are various mobile applications relating
digital violets. According to their convenience they accept and use the available e
wallets.
2.It still requires you to carry something:
Although an electronic wallet offers more convenient for many consumers, it doesn’t
fully eliminate the requirement of carrying something with you. if you don't have your
mobile device on your person, then you have no way to complete the transaction.
Because these valences don’t store your identification and other needed items; you are
still forced to carry a traditional violet or purse with you as well.
3.It requires your device to have a charge:
There are also the disadvantages that an electronic wallet requires you to have a
charged device to have it over it will stop if you are carrying a traditional wallet, you
won't need to worry about how much battery life is left on your phone.
4.It doesn’t eliminate your securities risks:
the security of your smartphone or mobile device is dependent on the settings of you
use. If you don't have your device protected with some type of password, then
someone could steal your device and potentially access the funds in your bank

business .”
account or credit cards. There are definite security advantages to consider which make
an e wallet a beneficial technology, through it requires responsible management of it
to maximize them.
5.It may charge you more to process:
Many of the electronic wallets which offer a rewards program will charge you a fee to
transfer those rewords. You maybe required to process payments in a specific way to
access these benefits as well for example when using PayPal debit program, the
consumers receive 1% cash when their transaction is a standard signature credit
transaction. Using a PIN through a digital wallet eliminates this benefit because
you’re changing how. The Point- of-sale treats the transaction.
6.It could encourage reckless spending:
When money is electronically based instead of physical items, some people struggle
with spending habits. The money doesn’t feel real, so proper budgeting doesn’t take
place. If you are already struggling to maintain a budget with a traditional wallet, then
an electronic wallet might make that issue even worse
Merits of e wallet:
• Save time: digital wallet holds the amount in electronic form so as to who is the
payment process where users can make online payment without entering any card
details.
• Ease of use: digital wallet is like one of click payment without feeling details about
card wise card number and password every time, it allows user to link digital wallet to
account and pay right away so the consumers face no issues to enter the details every
time a transaction happen.
• Security: there is a good amount of security when payments are made through a valid
since the valid does not pass the payment card details to websites. These virtual
wallets allow users to
• Convenient and information store less than one roof: has digital wallets help to
eliminate need to carry the physical valid they are highly convenient. Also, a better
management is possible as there is synchronization of data from multiple platforms
like bank account, credit and debit cards, mobile accounts and billing portal.
1.12 TECHNOLOGY IN E-WALLET:

business .”
Digital wallet has both a software and information component. The software provides
security and encryption for the personal information and for the actual transaction.
Typically, digital wallets are stored on the client side and are easily self-maintained
and fully compatible with most e-commerce website. A server-side digital wallet, also
known as a thin wallet, is one that on organization creates for and maintains on its
service. Server-side digital wallets are gaining popularity among major retailer due to
the security, efficiency, and added utility it provides to the end user, which increases
their enjoyment of their overall purchase. The information component is basically a
database of user inputted information. This information consists of shipping address,
billing address, payment methods and other information. The key point to take from
digital Wallace is that they are composed of both digital wallet devices and digital
wireless systems. There are dedicated digital valid such as the biometric wallet by
Dunhill, where it's a physical device holding someone's cash and card along with a
Bluetooth mobile connection.
1.13 Benefits of e wallet:
➢ Send and receive payments anywhere in the world

➢ Unlimited transfers
➢ Easy recurring payments and transfer
➢ Manager account from our mobile phone
➢ World ventures branded prepaid master card available
➢ Security of our bank account and credit card numbers
➢ Email or SMS notification after transaction
➢ We are incomplete control
➢ Access our commission faster.
➢ Full money into e wallet from any bank account.
➢ Receive wired funds/transfer directly into valid.
➢ Transfer money some e wallet to wallet without sharing personal account numbers.
➢ Request paper commissions checks
1.14 ISSUES TO TAKE CARE OF FOR E-WALLET:
Main issue that should be taken care of electronic payment system is authentication
pit identified by their and make sure that person is who he/she claims to be. Used

business .”
methods are i.e., digital signature, fingerprint, password or smart cards etc. Data
integrity which means, that there must be a way to verify that data is not changed
during the transaction, confidentially must also be preserved.
1.15 SECURITY OF ONLINE SYSTEMS
There are two main systems for transaction security, secure socket layer and secure
electronic transaction.
A. Secure socket layer SSL: SSL is the widely used to secure service system and is
an important measure to establish trust between online seller and buyer. Encryption
and description Allow secure transfer for transformation between an internet browser
and server. Data cannot be encrypted or changed during transmission. SSL also
permits merchant identification through SSL server certificates. The SSL standard has
been widely adopted because it is relatable simple and easy to use and does not
replace text depends on average consumer’s home pc. SSL has an over 90% of share
of security measures, about the same as credit cards among online payment systems
until recently, but as mobile networks are increasingly important e-commerce
markets, SSL services for wireless devices have been developed.
B. Secure electronic transaction (SET): SET is an alternative, more complex

security system based on digital certificate and signature. SET need specific software
and is more difficult for card holders to obtain and use, and despite the high level of
security of a it has not gained widespread used.
1.16 E-COMMERCE AND E-PAYMENT
Online payment by card, interbank facilities is not new in our society today. The ease
of purchasing and selling products over the internet has helped put the growth of e-
commerce, and I payments services are convenient and efficient way to do financial
transaction. Electronic commerce involves the exchange of some form of money for
goods and services over the internet, but the internet is an insecure and unreliable
media. We focus on the following E-Commerce scenario: our customer wishes to
purchase goods online; electronic payment methods electronic funds transfer (EFT),
financial EDI, credit/debit cards, electronic cash. Online stored value system, and
smart cards. Here we talk about the only e payment made by any means. And the

business .”
goods need to be shipped physically. are considerable need for secure and efficient
payment system that can operate over internet has been created.
Many people have purchased something online, purchasing online, weather services
or products, requires that a customer has a valid credit debit card or finance account
such as PayPal. Due to the increasing of crime on the internet. People having alternate
thoughts of giving their account info. Due to the nature of Internet security and
authentication of payments, users cannot be guaranteed with technological that are not
specifically designed for e-payments. We need an e payment system, which would not
only provide secure payments but should also have properties like online customer
and merchant authentication with privacy of customers. To sum it provides and
certainly and risk while e purchasing. E payment technology has developed certain
software known as the secure payment system.
1.17 MOBILE COMMERCE:
Mobile commerce or m-commerce is defined as the process of buying and selling of

goods and services through wireless technology. Most common representative in the
categories of course mobile phone. Biggest benefit of m-commerce is, that terminal is
portable and there is radio coverage in major cities. There is also increasing amount of
services available in M-commerce sector. For example, data information services,
which cover automatic or manual delivery of sports news, weather information, stock
market updates of mobile device. Financial services, which covers paying bill or
buying stocks, or even getting automatic warnings if money is in the account is
running low or predefined limit is exceeded.
1.18 MOBILE COMMERCE AND E-WALLET:
The electronic wallet provides all the functions of today's valid on one convenient
smart Card eliminating the needs of several cards. The evil that will also provide
numerous security features not available to regular wallet carries. Identification is
required for every credit card transaction and the card is equipped with a disabling
device if the card should be tempered with. Electronic wallets are a digital wallet with
allows user to make electronic commerce transaction quickly and securely. electronic

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violets being very useful for frequent online shoppers are commercially available for
pocket, palm-sized, handled, and desktop PCs. They offer a secure, convenient, and
portable tool for online shopping. Desktop personal and financial information such as
credit card, password, pins, and much more. ye varieties and electronic valid for most
important personal information. So, like a real wallet keeps information in cards.
Several related pieces of information for example, a username, a password and a
URL. Also, to have some nice cards with icons, colors, and on some platforms,
picture. To help keep cards organized, the cars created or stored in categories. Wallets
files can have many different categories and can be put in any kind of card in any
category. In addition, categories can be nested as well, Halloween placing categories
within categories.
1.19 DIFFERENT TYPES OF E-COMMERCE PAYMENT

SYSTEM
When you purchase goods and services online, you pay for them using an electronic
medium. Their mode of payment, without using cash or cheque is called an E-
Commerce payment system and is known as online or electronic payment system. The
growing use of internet-based banking and shopping has been developed to increase
technology has been developed to increase E payment transaction. Paperless E-
Commerce payment have reserve Lucia and the payment processing by reducing
paperwork, transaction costs, and personal cost. The system is used friendly and
consume less time than manual processing and help businesses extend their market
reach.
The different types of e-commerce payments in use today are
1.Credit card: the most popular form of payment for e-commerce transaction is
through credit cards. It is simple to use; the customers have to just enter their credit
card number and date of expiry in the appropriate areas on the seller’s web page. To
improve the security system, increased security measures, such as the use of a card
verification number (CVN), have been introduced to online credit card payment. The
CVN system helps detect fraud by comparing the CVN number with cardholder
information.

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2.Debit card: debit card is the second largest e-commerce payment medium in India.
Customers who want to spend online with their financial image prefer to pay with
their debit cards. With the debit card the customer can only pay for purchased goods
with the money that is already there in his bank account as opposed to the credit card
whose work amount that the buyers pant or will to him and payment are made at the
end of the billing period.
3.Smart card: it is a plastic card embedded with a microprocessor that has the
customer’s personal information stored in it and can be loaded with funds to make
online transaction and instant payment bills. The money that he is loaded in the smart
Card reduces as per the usage by the customer has to be reloaded for his bank
account.
4.E-wallet: e wallet is a pre-paid account that allows the customers to store multiple
credit card, debit card and Bank account number in a secure environment. This
eliminates the need to key in account information every time while making payment.
Once the customer has registered and created a valid profile he can make payment
faster.
5.Net banking: this is another popular way of making E-Commerce payments. It is a

simple way of paying for online purchase directly from the customers Bank. It is used
a similar method to debit card to paying money that is already there in the customers
Bank. Net banking does not require the user to have a card payment purchase, but the
user’s needs the register with his bank for bank facility. While completing the
purchase the customer just needs to put in their net banking ID and pin.
6. Mobile payments: one of the largest ways of making online payment is through
the mobile payments. Instead of using credit card cash, are all the customers has to do
is send a payment request to his service provider via text message. The customer
mobile account or credit card is charged for the purchase. To set up the mobile
payment system, the customer just has to download a software him service providers
website and then link the credit card or debit card for mobile billing information to the
software.
Benefit of mobile payments:

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• Ability to integrate and increase letter and incentive programs into the mobile
payment application
• Ability to offer credit card payments
• Small business using mobile payments can track customer’s demand.
• Convenience
• Access to valuable information
• Cost reduction
Mobile payment drawbacks
• Security risk
• Inconvenience for some customers
• too many alternatives to choose from various available mobile payment applications
• Constant update is needed for using applications.
➢ Android pay
➢ Apple pay
➢ Bitcoin wallet
➢ Google wallet
➢ Master pass
➢ PayPal one touch
➢ Samsung pay
1.20 ADVANTAGES OF PAYMENT IN E-COMMERCE
1. Reduce cart abandonment: the most significant benefit to retailers is lowered

card abandonment leading to more revenue. By simplifying the buying process, more
shoppers will complete their purchase. In a survey of shoppers who abandoned their
cards, 21% through the checkout process was confusing or too long.
2.Reduce transaction fees: merchant can lower bank transaction fees by issuing a
payment card for own, usable on a valid. It's like a store gift card, accept the card is
digital and there is no cash to issue a plastic version. Plus, it is not a bank card,
leaving the bank out of the payment loop, reducing transaction fees.
3.Options for more sales: merchants can send personalized coupons that customers
can download and use. Since 85% of install of a stay and used on the devices,

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merchants can remain in constant contact with their customers by updating offers
regularly. Customers can access the coupons and pay using the same device
increasing opportunities for more sales.
4. Increased security: another issue is cyber security. It's no secret that credit card
data is a massive target for hackers. Anywhere transaction is different than a credit or
debit card transaction. It uses tokenization technology. Unique randomly generated
identifiers are tokens replies to the credit card number for each purpose. After the
purchase the number is useless. It’s the most secure online transaction method to date.
Digital wireless or relative Lee new to e-commerce but a rapidly expanding source of
revenue by delivering a better customer experience. Big commerce designers can
easily integrate them to any store.
1.21 SHOPPER’S CLOUD DIGITAL WALLET
Besides not having the carry a bulky wallet or purse all the time, here are some distant
advantages to shoppers:
1. Safer than a credit card: there are two levels of security. One is the PIN number and
to get the phone and the second is the PIN required to the access the digital wallet.
2. Organized cards, easier check-out: an event that stores the shopper’s information
for multiple cards and loyalty programs on encrypted cloud-based servers. uses
choose the card for the transaction and never need to re-enter personal data forms
each time they purchase. It's done automatically, creating a seamless, fast checkout.
3. Additional benefits: shoppers can manage payment and their account from within the
digital wallets. merchants can send incentives in the form of coupons for loyalty
points directly to their account. The evil stores all received and account information.
With a valid shoppers can get a better handle on their spending with instant account
information and notifications.
1.22 SOME LIMITATIONS WITH DIGITAL PAYMENTS
As convenient as these apps are, they are currently not integrated. Retailers must
download each app to use them. Not every Store has the availability to accept
payment from e wallets, and they won’t work in remote places that do not have a Wi-
Fi connection. If you drop your physical wallet in a puddle, you can retrieve the

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contents, drive them off and be and your way. That's not so certain if it happens with
your smartphone. You are needed to know your login to retrieve your data from
another device for stop use a backup plan to cloud when you opened your e wallet
account full stop deposit the possibility of losing your phone digital violets are a
growing Trend and it’s revolutionized how shoppers pay for goods and services.
1.23 INDIA TOWARDS DIGITALIZATION:
Introduction:
The “Digital India” is the Indian Government’s flagship program with a vision to
convert India into a digitally empowered country. “Faceless, Paperless, Cashless” is
one of supposed function of Digital India. Digital payment system has gained
importance nowadays, especially after demonetization. The government is taking
essential steps to encourage the public to use payment gateway platforms. To promote
payment gateways, it has declared discounts on purchases of certain products
digitally. It has also introduced UPI (United Payment Interface) which is app based to
transact across multiple banks. Another improved version is set to be unveiled by the
government, which makes banking transactions though mobile phones without
internet by a platform called USSD (Unstructured Supplementary Service Data).
These initiatives have provided extensive boost up to the digital payment system in
the country. Government’s other initiatives like BHIM and UPI are supporting in
transition and faster adoption of digital payments. Electronics Consumer transaction
made at point of sale (POS) for services and products either through internet banking
or mobile banking using smart phone or card payment are called as digital payment.
Background:
With the rapid development of science, computer and network technology, electronic
commerce (e-commerce) has become a routine part of human life. Since it can
provide new impetus to develop business in enterprises, it is convenient for
customers, especially in Business to customer (B2C) commerce. The customer can
order at home and save time for doing more things. There is no need to visit a store or
a shop. The customer can visit different stores on the Internet in a very short time and

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compare the products with different characteristics. Such are price, color and quality.
Furthermore, online Payment systems have a very important role in e-commerce. E-
commerce enterprises use online payment systems that refer to paperless monetary
transactions, which has revolutionized the business processing by reducing
paperwork, transaction costs, and labor cost. Being user-friendly and less time
consuming than manual processing, electronic commerce helps a business
organization expand its market reach expansion.
In the last decade, the online payment systems have developed and reached a high
level of security, privacy, confidentiality and efficiency characters.
1.24 CURRENT SCENARIO AND SCOPE FOR IMPROVEMENT

OF E-PAYMENT SYSTEM
Electronic payment is a subset of an e –commerce transaction to include electronic

payment for buying and selling goods or services offered through the internet.
Generally, we think of electronic payment are referring to online transactions on the
internet, there are actually many forms of electronic payments. So, in other word an
electronic payment system is needed for compensation for information of goods and
services provided through the internet such as access to copyrighted materials,
database searches or consumption of system resources-or as a convenient form of
payment for external goods and services-such as merchandise and services provided
outside the internet. It helps to automate sales activities, extends the potential number
of customer and may reduce the amount of paperwork.
Cashless economy is a situation in which the flow of cash within an economy is non-
existent and all transactions are done through electronic media channels such as direct
debit, credit and debit cards and electronic clearing and payment systems such as
Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) and
Real Time Gross Settlement (RTGS).
We are the fourth-largest user of cash in the world. The rate of cash to GDP is the
highest, i.e., 12.42% in India. Cash in circulation to private consumption ratio in India
is 20% and Card transactions account for 4% of the personal consumption
expenditure. As most people are illiterate, poor, engaged in small transactions and
having less banking habits.

business .”
Usually, cashless economies have low corruptions and less black money. Almost
every country is bracing towards cashless economy and many countries have made
significant progress. It is just a world trend which India is trying to catch up.
1.25 THE FUTURE MOBILE PAYMENTS IN INDIA
Due to the demonetization in India many digital wallets from banks and digital
payment facilitators were launched. To improve the value proposition of a mobile
wallet offering Bank tried to placate the approach of delivering a comprehensive
range of financial and product service within a single digital interface.
While we validate first started with offering a basic service such as telecom recharge
bill payment and payment options on most popular E-Commerce portals. today, a
wallet platform can be used to recharge mobile phone, pay utility bills, book a
holiday, secured loans, buy entertainment tickets, travel on the metro or by a flight
and even trade gold. The increase in the smartphone users and mobile users in India,
due to cheaper and sets are increasingly economical data plans, further fulfilled the
mobile wallets usage in the country. The main merit of electronic wallet is it can be
used to carry multiple types of currencies. Whether you can use euros, yen, dollar or
Dinar , distal provide the same smooth buying experience. Expressly for Indians
going overseas, this is a God send.
Adding more personal layers of security which as additional pin codes, 2 factor
authentication etc. increases the confidence in uses. In addition, an entire generation
of millionaires is now entering to the prime buying time of their life. Indians in the
age group of 18 to 35 now number 450 million, as per latest estimate by Kanta IMRB
and dialogue factory March 2019. Considering that a significant chunk of this group is
digitally savvy, it would not be a farfetched to inter that they will be ready and willing
to forgo cash entirely in favor of a valid. This announce will now be and the merchant
ecosystem to take the plunge and upgrade their point-of-sale technology and payment
protocols to follow for digital transaction from this population.
E wallet space, there is likely to be an uptick in the acquisition and consolidation in

2019, it's likely that a few top players will emerge, acquiring or eliminating mobile
wallets along the way, as the PayU- citrus pay and super retail acquisition proved
recently.

business .”
E-wallets total transaction value grow 210 % in the November 2016 2 March 2017
period, but this has since slowed to 123 % in the April 2018 to February 2019 period.
In the next five years, the Indian mobile wallet market is set to grow by 150 % with
transaction totaling 4.4 billion.
The e wallet is introducing a plethora of new use cases to enable them grow. In the
digital era, It is the survival of the most again. Platforms which have a longer-term
strategy, compelling use cases, cost effective and quick alternate known your
customer KYC mechanism and deep pockets would continue to grow with the overall
growth in the digital payments. The key is to be a one stop shop for all daily needs of
the consumers. While unified payments interface.
UPI has grown exponentially, consumers in India from urban to rural have on
payment and transaction preference. The consumer will decide the fate of each
payment instrument depending upon its users’ interface, convenience, use cases and
most importantly security.

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CHAPTER -2
RESEARCH DESIGN AND REVIEW OF LITRATURE
2.1 TITLE OF STUDY:
“A study on emerging trends in e-payment system with perspective of customer

adoption in Bengaluru South.”
2.2 STATEMENT OF THE PROBLEM:
The effect of data innovation over the financial tasks is very much acknowledged in
India because of the enormous increment of its activities through different
components of e-banking framework, for example, (ECS Credit), (ECS Debit),
(NEFT/EFT), (Credit card), (Debit card), (RTGS – Customer Remittances), (RTGS –
Inter-bank Remittances) and (RTGS – Inter-bank Clearing Settlements) .The place of
examine that is investigated in this exploration is examination and understanding of
shopper discernment is a standard exercise to survey the impacts of e-instalments on
web based business.
2.3 REVIEW OF LITRATURE:
Kevin Foster, Scott schuh, and hanbing Zhang (2010) they examine the consumer
payment method with respect to cash holding and withdrawals which was decreasing
since 2010. There was an increase in card payment with respect to 2009 in the year
2010. Which resulted in less use of paper currency. Since 2010 there was an increase
in usage of debit, I am credit card compared to the cash transaction which slowly 2
took decline giving rise to prepaid payments.
Rakesh HM and Ramya TJ (2014) India study analysed the factors that which was
resulting in the adaptation of internet banking in our country. It was found that
perceived reliability, perceived ease of use and perceived usefulness what are the
main reasons of the adaptation of internet banking.
Ravi (2017) has examined that India’s two third population are residing rural areas so
they play a very important role in the development of the economy, with the

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emergence of IT and Communication it is predicted that rural areas will have 50% of
India’s Internet users by 2020.Digital wallets should be used in rural places so that the
people know the significance of using it and what benefit they will be getting by using
it. The Government of India has also taken up the initiative of making rural people
aware about Digitization. Adoption of technology has always been low in India
compared to other countries but in case of Digital wallet our country is going with the
pace of other countries to become a cashless economy. As the two third population of
India is in rural part so if the rural people with time adopt the digital payment system,
then in the coming years India will become a cashless economy. The government of
India has taken up various initiatives to make the rural people become familiar with
digital wallet. The urban people have adopted the digital system of payment, now it’s
time for the rural people too. If the rural people are made aware about digitalization
soon it will roll out all over India. The best step that the National Payments
Corporation of India has taken is that digital wallet will work on all mobiles with or
without internet.
Nitsure (2014) in his study highlighted the issues that were being faced and observed
in developing country like India in using the e payment system which was due to the
low spread of Internet and technology. The paper forecast on major issues such as
security, rules, etc.
Shin and ziderman tested a comprehensive model of consumer acceptance in the

context of mobile payment. It is used the confined theory of acceptance on use of
technology model with constructs of security, trust, social influence and self-efficacy.
the model confirms the classic role of technology acceptance factors the results also
showed that uses attitudes and intentions are influenced by perceived security and
trust. The extended model, the moderating effects of demographics on the relation
among the variables were found to be significant. Digital wallets offer the use
consumers the convenience of payments without swiping the debit or credit card.
Instant cash availability and renders seamless mobility is also a unique feature of this
digital apps, for instance the balance in your Paytm wallet can be very easily
transferred to your bank account as and when you want. Following are some other
advantages of making transaction through e wallets.

business .”
International journal for scientific engineering and technology 2(9), 2013, in

their journal, “electronic payment system and economic growth”, technological
Advancement has provider efficient and effective payment system avoid of cash and
cash syndrome. Specifically electronic payment system provides a medium to
economic exchange take place without visiting brick-and-mortar banks or with no
physical preference of directing parties. While economic payment from Minions in
the Nigeria, evidence of the contribution to the economic growth has not been a
vehicle established. Meanwhile, the current transition to cashless economy was
essentially based on the prominence of e payment system. Therefore, the study of for
first time explored relation between e payment system and economic growth as mean
of reviewing current transaction to cashless economic in Nigeria. current cashless
policy should be tailored to work effectively payment system and other factors which
there much relevance on successful transition to cashless economy should be e
prioritized.
From this paper “the future of mobile payment as electronic payment system” the
author zlatko Breshkovsky states that with all the security and convenience provided
by mobile electronic payment method we can expect further growth of mobile
payment worldwide even surprising payments made by credit card and debit card.
However, there are several areas identified to the adaptation of these payment
method; so certain measures should be taken to grant this industry a promising future
ahead. This study finds that customers are increasingly using mobile payment method
for their routine online purchase and for their onsite purchase. With growing
advanced technology e that supports mobile transaction and makes them transparent
and more convenient, consumers have developed their trust and habits on using
mobile payment systems. Enhancing the compatibility with a wide range of uses, the
use of latest technology and establishment of common standards for various service
providers and overcoming the security and privacy issues could help in facilitating
faster adaptation of electronic payment methods and advance the rising market of
mobile payment.
In this paper “a study on the perception of the customers towards e commerce and
e payment in local survey” the others S Kaushalya, Shweta Krishnan, Mridula. R
Soumya. A.M. mentioned that the trust in a commerce mainly depends upon the

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online payment system which allows a customer to make payment to the online
merchant or service provider consumers are becoming more and more comfortable in
making online transaction and are concentrated about conducting electronic business
transaction and the risks involved in that have a tail impact on transaction of
electronic business. Increasingly more consumers are migrating to E-Commerce to
make electronic bill payment, to fir for information online, to purchase products,
services. According to the authors e payments refers to the technological
breakthrough that enable us to provide greater freedom to individuals in paying their
taxes, license, fees, finds and purchases at unconventional locations and at whatever
time of the day, and 365 days of the year. The author found that credit and debit card
will become obsolete, because they saw the increasing development of the mobile
technology and the internet industry.
In this paper “a study on usage of Paytm” the author Abhijeet M. Tadse and
Harmeet Singh nannied maintenance of digital wallets are quickly becoming
mainstream mode of online payment on mobile users can now a days use their
smartphones to make money transaction or payment by using applications installed in
the phone. The author through their service states that the Paytm Has to work upon
the payment gateway to improve the transaction efficiency as 70% people facing
problem with Paytm get with. Only 5% people claim to have got assistance every time
they had a failure so the service could be improved to theatre the needs of maximum
customers. Cm is currently performing well in terms of privacy, but it has to work
upon discount. Transaction time and bring about innovation to increase customer
satisfaction.
Pushpa S. Abbigeri and Rajeshwari M. Shettar (2018) talked about how the
Digital India flagship program attracted large number of people to start using
digital wallets, which people started to use as there was lots of cash back offers and
coupons. After the digital India flagship program, a lot of mobile wallet companies
entered India and other methods such as UPI, NEFT to a surge. The initiative taken by
the government and RBI was being accepted by the people as they were using such
methods.
2.4 GAP ANALYSIS

business .”
In the above literature reviews no study was aimed on how the e-payments can
actually help the businesses grow sustainably by addressing the consumer’s quick,
speedy payments online and at the same time assuring secured transactions by using
latest e-payment systems and technology at the back end.
2.5 OBJECTIVES OF THE STUDY
• To study the customer preference payment towards gateways with respect to charges
and risks.
• To understand the frequency of usage and the problems faced while using e-payment.
• To identify the area of quality customer service with personal attention regarding e-
payment.
• To analyse the risks in payment gateway.
• To compare, select payment gateways in respect of charges and risks
• To make suitable recommendation for the selection of best gateway.
• To know the awareness among the public about the usage of e-payment for ease
payment.
2.6 SCOPE OF THE STUDY
The project is undertaken in BENGALURU South. With increased competition,

changing business environment, globalization and advancement of information and
communication technology increase the growth of e payment and e-commerce. the
primary reason of this study is to analyse usage and familiar of the e payment system
in India, with the real estate business world and to attain knowledge about the banking
and e-commerce business organization, which have a direct impact on the GDP of the
country.
2.7 RESEARCH DESIGN
The present study is an end over to look at the impact of electronic payment system
on the property growth of e-commerce. And additionally operational performance and
repair quality of banking sector in India. The current study is an attempt to examine
the impact of e-payment system on growth of on-line business activities. This chapter
discusses the analysis methodology of the dissertation. It explains the scope,

business .”
objectives, amount and sample of the study. The applied math techniques want to
analyse the info and limitations of the study have also been discussed.
A research style is that the set of ways and procedures utilized in collection and
analysing measures of the variables specific within the drawback analysis. The look
of a study defines the study kind (descriptive, correlation, semi-experimental,
experimental, review, meta-analytic) and sub type (e.g., descriptive-longitudinal case
study), research problem, hypotheses, freelance and dependent variables,
experimental design, and, if applicable, information collection ways and a applied
math analysis plan.
2.8 RESEARCH METHODOLOGY
This studied have been carried out on E-payment system. The research methodology
adopted for this study is survey method. This is the descriptive research, the primary
data was collected through a survey sent to diverse users of e-payments; this is to
understand their acceptance, usage level, problems and the impact on the
organizations. The secondary data was also utilized such as research papers, white
paper and various online data. The sample size of seventy participants was taken
through random sampling technique and tools used were Pivot tables frequency. Some
responses have been collected from people, like (students, professional and others).
The result of survey shown in graphs. The questionnaire designed on E-payment
system. Five points like Agree, Disagree, strongly disagree, strongly agree, and
neutral.

business .”
2.9 SOURCE OF DATA COLLECTION
Data was collected from both primary and secondary sources. Data on the use of
plastic money and virtual wallet was done by two different questionnaire which are
similar in nature and constitute the primary data source for this research. Pilot test was
carried out using a set of questionnaires.
1. Primary data: The questionnaire is well structured and starts from collecting the
user’s demographics, then user usage and perception on plastic money and virtual
wallet. The questionnaire was devised after working out the various surveys and
literary contents. The central idea was to use the data collection to bring out the usage
and preferences of customers and non-customers. The result of the pilot was used for
to carry out the survey on a large number of participants.
2. Secondary data: The data which has been already collected by someone else for the
purpose other than the research. The secondary data source is internet, publications,
research articles, reference books, newspapers.
2.10 TOOL OF ANALYSIS
The collected data or information has been presented in the form of tables, bar graph,
pie chart etc., The data has been further simplified into averages and percentage for
easily understanding and interpretation.
2.11 LIMITATIONS OF THE STUDY
• The examination is restricted to just e to a particular region

• The examination is absolutely founded on restricted individuals who are having cell
phones, then, at that point cell phone clients or incorporate.
• The examination depends on totals not right or genuine figures.
• The time term given to us kept from understanding an inside and out and widely study
covering all region.
• The examination totally dependent on the data given by buyers not by any E-
Commerce associations.

business .”
2.12 CHAPTER SCHEME
Chapter 1: Introduction
This is the first chapter that includes theoretical background of repayment and its
effect on e commerce business activity.
Chapter 2: Research Design
This chapter provides a plan of study that includes statement of problems, scope of
the study, objectives of the study, methodology, review of literature, source of data
collection and plan of analysis and overview of the chapter scheme.
Chapter 3: Company profile and Respondents profile
This chapter includes the various E-payment application used by customer and its
usage and the supported banks. And use of customer and merchant etc., Also available
options to use of various online payment service
Chapter 4: Data analysis and Interpretation.
This chapter provides an analysis of data with the required interpretation for stop the
necessary graphs and tables are pretended in the chapter with the available
information.
Chapter 5: Finding suggestions and conclusion
This chapter gives the final right full solution. the conclusion will be given with the m
findings and with the available suggestions on the scenario of the study.

business .”
CHAPTER-3
COMPANY PROFILE AND RESPONDANCE PROFILE
ONLINE BUSINESS
In today’s world, we are exposed to various forms of e-Business. Since its emergence,
it has grown by leaps and bounds. Some predict that it may very soon overtake brick
and mortar stores completely. While that remains to be seen, we cannot ignore the
immense role it plays in the current global economy.
E-business or Online business means business transactions that take place online
with the help of the internet. The term e-business came into existence in the year
1996. E-business is an abbreviation for electronic business. So the buyer and the seller
don't meet personally.
Data-driven Nature
Statistical observations gathered by ecommerce businesses have also contributed to
the growth of ecommerce. In the Business to Consumer model, ecommerce businesses
track consumer preferences and make remarkable observations. These observations
are then integrated into retail models for seamless future purposes, ensuring that
ecommerce sales soar globally.
Improved Consumer Experiences

Consumers are usually in search of product offers at very affordable or discount
prices. Personalization holds a higher command on customer engagement. Customers
frequently encounter new product offers that match their interests and they can get
with simple taps of buttons, without having to move their feet.
Low Cost
Another important factor responsible for the growth of ecommerce is the low cost of
running an ecommerce business. Unlike brick-and-mortar stores, it is relatively

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cheaper to establish an online store than a physical one. Ecommerce eliminates the
need to build physical stores in which products are cataloged.
Also, ecommerce stores are accessible from any part of the world over the Internet.
As a result, ecommerce stores are more accessible to customers globally and provide a
passive experience for commercial activities.
Ecommerce Giants: Everybody Wants to Rule the World

The ecommerce sector has become broad and diverse. However, some giants are
ruling the ecommerce world. These are businesses that have established a monopoly
of some sort and immense credibility in the ecommerce sector.
The most popular ecommerce businesses worldwide are Amazon, Alibaba, eBay,
and Walmart. These ecommerce giants have redefined the retail industry irrespective
of location. They accumulate revenues that exceed billions of dollars yearly. As
internet accessibility increases, these estimates would skyrocket. At the time of this
writing, Amazon is present in 58 countries, Alibaba in 15, Walmart in
27, MercadoLibre in 18.
Powering an Ecommerce Store

At the moment, we have a fair understanding of how ecommerce has grown in the
past years. The question many people ask today is, “How can we launch an
ecommerce store?”. When you consider the level of competition that exists in the
ecommerce sector, this becomes an important question. However, the thought that the
demand for goods and services is always rising is a comforting fact. Also, the giants
that rule the ecommerce world today have already answered that question.
There are many ways to launch an ecommerce store, but, an effective one that is cost-
saving and guarantees support is to use an ecommerce platform like Shopify or Big
Commerce.
An ecommerce platform is a software solution that allows businesses to build and
manage online storefronts. A storefront is any customer or business facing proposition
relating to the selling of products and services. These platforms provide everything a
business needs to sell online, on social media, or in person.
Benefits of an Ecommerce
Running an ecommerce store using an ecommerce platform helps you to:
Sell on a Global Scale: Using a single platform to sell products to anyone, anywhere
— online with your ecommerce store, online marketplaces, and social media, and in-
person with point of sale.
Market your Business: Use built-in marketing tools that help you create, execute,
and analyze campaigns on Facebook and Google.

business .”
Manage your Business: Use a single dashboard to manage orders, shipping, and
payments anywhere you go. Use insights provided to grow your business.
Consumer Experiences
Photo by StockSnap
Just as ecommerce is changing the retail industry, it is also changing consumer
experiences in so many ways. In ecommerce, consumer experience revolves around
three key aspects:
Convenience
Personalization
Savings.
Consumers who shop online do so at their convenience, wherever, and whenever they
want. Unlike brick-and-mortar stores, consumers don’t need to be physically present
at the storefront to effect a purchase. At the consumer’s comfort, he or she can swipe
through products and with the push of a button (or a few) complete a purchase. As a
result, this saves time and guarantees satisfaction. Of course, this is very important to
the consumer.
Ecommerce businesses go the extra mile of personalizing consumer experiences.
Consumer experiences can be tailored based on the consumer’s past transactions.

business .”
Ecommerce platforms use insights obtained from consumers’ histories to suggest

product offers that match their interests.
By shopping online, consumers save a lot on time, money, and other valuable
resources. All consumers need to do, is place an order at a convenient time and
location, and it is then made available to them.
IMPORTANT PLAYERS IN ONLINE BUSINESS
Zomato Ltd.
Zomato is a multinational restaurant aggregator and food delivery company. It was
founded by Deepinder Goyal and Pankaj Chaddah in Gurgaon in 2008. Its initial
name was “Foodiebay”. The company was renamed Zomato in 2010. Zomato
provides information, menus, and user reviews of restaurants as well as food delivery
options from partner restaurants in select cities. As of 2019, the service is available in
24 countries and in more than 10,000 cities. With Fundoodata paid plans you can get
access to more information about the company like the number of employees,
turnover, decision-makers details, and more. Click here to know more.
Just Dial Ltd

Justdial Ltd was founded in the year 1996 by V.S.S Mani. It is headquartered in
Mumbai, Maharashtra. It is one of the Top 10 E-commerce companies in India. Its
offices are located in all top Indian Cities. The Company offers its services across
various platforms, such as voice, Web, mobile Internet, and mobile applications. It
offers an array of search plus services, including order food online, book a doctor’s
appointment online, book movie tickets online, book a cab/flight/bus online, order
groceries online, schedule a laundry pick-up online and schedule a courier pick-up
online, among others.
MakeMyTrip Ltd
The Indian travel Company – MakeMyTrip is known for its strong online presence.
The company provides the entire gamut of travel services including flight, holiday
packages, tickets, hotel booking, etc. It provides travel packages to all tourist
locations. It has launched its travel apps. India’s top e-commerce company was
founded in 2000 by Deep Kalra. The company has also presented internationally
through offices in Sydney and New York City. With Fundoodata paid plans you can
get access to more information about the company like the number of employees,
turnover, decision-makers details, and more. Click here to know more.

business .”
Myntra Designs Pvt Ltd

Myntra is one of the Top 10 E-commerce companies in India. It is a leading online
fashion store offering products for men and women both in all ranges. The company
is headquartered in Bengaluru, Karnataka. It was launched in the year 2009. It has
gained success in a short span of time. The company was founded in 2007 to sell
personalized gift items. With Fundoodata paid plans you can get access to more
information about the company like the number of employees, turnover, decision-
makers details, and more. Click here to know more.
One97 Communications Ltd (Paytm)

Paytm is an Indian e-commerce website headquartered in Noida, India. It was
launched in 2010 and is owned by One97 Communications. The firm started with
offering mobile recharge, adding bill payment, and e-commerce, with products similar
to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it further added
booking bus travel. Paytm also launched movie ticket booking by partnering with
Cinépolis in the year 2016. It is one of the Top 10 E-commerce companies in India.
FEATURES OF ONLINE BUSINESS

Some of the features of Online Business are as follows :
• It is easy to set up
• There are no geographical boundaries
• Much cheaper than traditional business
• There are flexible business hours
• Marketing strategies cost less
• Online business receive subsidies from the government
• There are a few security and integrity issues
• There is no personal touch
• Buyer and seller don’t meet
• Delivery of products takes time
• There is a transaction risk
• Anyone can buy anything from anywhere at anytime
• The transaction risk is higher than traditional business
GROWTH OF ONLINE BUSINESS

According to the 2018 Emerging Consumer Survey, today's emerging
consumers are just as connected as their counterparts in Europe or the
United States, and they are just as likely, if not more likely, to use online
retail services. Smartphones are a major enabler of web access.
The fast adoption of smartphones and consequent internet connection has
enabled developing market consumers to become a major worldwide force in
a variety of online activities such as online retail, gaming, a nd eSports.
Except for Indonesia and South Africa, Internet access among Emerging

business .”
Consumer Survey respondents is now at or above 80% in all countries.

Clearly, reduced average purchasing power has not discouraged customers in
our emerging markets.Mobile Adaptivity
Smartphones and tablets are generating an increasing amount of web
traffic, which is boosting eCommerce purchases. Many major brands
ensure that their websites are mobile -friendly, which improves the
customer experience, and they frequently have native mobile apps to make
shopping even easier for customers. If your website is not tablet and
smartphone friendly, you will undoubtedly lose Generation Z and
millennial clients.
Furthermore, technical advancements such as improved connec tion and
voice-activated purchasing have resulted in an increase in mobile
shopping income from $3 billion to $31 billion in the United States alone.
Customers receive real-time notifications of new product launches,
exclusive deals, and promotions.
Smartphones additionally permit for location -explicit offerings, building a

more intimate customer-business relationship that drives more customers.
Think about hiring a technical support expert or an eCommerce support
virtual assistant to easily transition int o this new phase of online
commerce.
Omnichannel Retailing
Ecommerce has progressed beyond search engine optimization to other
channels of marketing to and interacting with customers. Businesses
connect with their shoppers via websites, social media, email , and
physical stores. This creates multiple channels of purchase, receipt, and
exchange of goods, with a prevalence of shopper -friendly shipping and
return policies. Customers can purchase online, pick their purchases up at
a physical store, return any defective items online, and avail discount
offers based on a certain number of referrals. This blended physical and
online experience drives more sales.
Your business must manage the omnichannel customer experience so that
each channel is a seamless brand extension and the customer can pick up
the conversation on any channel without any discordant experiences.
Convenience
Ecommerce promises 24/7 accessibility, 365 days a year, with no
downtime for public holidays, closing times, bad weather conditions, etc.
Customers can shop whenever they love, from wherever be it the comfort
of their own bed. Ecommerce makes purchasing faster and easier, without
the hassle of crowds, traffic, and awkward social interactions.

business .”
Customers can compare offerings online and read up reviews to see how
the product or service fared in the view of like -minded individuals to
determine which offer has the best value, all without having to go from
one shop to the other.
The ability to discover the desired service or product, order it, and get it
at the time and in the form convenient to the shopper at a single touch or
click has changed buying behavior, encouraging instant gratification and
thus increase eCommerce transactions. In this fast -paced world
eCommerce, today offers the value prop osition of a full shopping
experience during the only real free time available to millennials —long
commutes.
To take advantage of this trend, your website should be search -engine-
optimized, have fast loading speeds, should have a functional shopping
cart, and have updated product catalogs. Most importantly, your customer
service must be par excellence and for eCommerce especially, it should
extend to 24-hour call center support since the majority of buyers shop
after business hours. This will also significa ntly enhance your reputation.
Online Business Vs Offline Business
Definition Purchase and sale of good via Purchase and sale of goods via a
business outlet with one or few digital platform such as an online
physical locations website
Customer Reach Limited Global
Cost of Setup More Less
Operation Cost More Less
Availability Limited time 24×7
Feasibility to Operate Can only be operated from the Can be Operated from anywhere
store in the world
Promotion/Marketing Limited marketing possibilities A broad range of promotion and

marketing features available
Business Expansion Local Worldwide
Customer Retention Easier to retain loyal customers Comparatively difficult

business .”
Customer Support Physical support Virtual support
Refund/Return Rate Less More
Multi-Channel Selling Cannot sell on multiple stores Sell on multiple sales channels
like Amazon, eBay, Walmart,
and many more.
Scalability More time & effort to scale a Less time and effort to scale a
business business
Competitive Less competitive More competitive
Dependency Less dependent or independent Highly dependent on a platform

on external platforms
Brand Visibility and Visible to a limited audience Globally visible and potential to
Development and takes time to build as a become a brand in months
brand
Nature of Business Offline business is Online business is customer-

seller/company driven driven
Employee Headcount More employees required Fewer employees needed and can
manage work remotely
Maintenance High-cost infrastructure Less Cost required for

management maintenance
Sales Channel Radio and print advertising – Sell through the different type of
including billboards, signs and online marketplaces, social
pamphlets – telemarketing, and media platforms, email
television ads marketing, messaging apps etc.
Performance Analysis Complicated and time taking Stats and figures updated in real-
task to analyse the performance time so performance analysis is
easier
Trustworthy Mouth to mouth popularity Reviews available can help in

bulids trust building more trust

business .”
Table-3.1
DEMOGRAPHIC PROFILE
3.1TABLE SHOWING GENDER OF RESPONDENTS
Variables Classification Frequency Percentage (%)

Male 36 51.00
Gender Female 34 49.00
Total 70 100
Sales
male
female

business .”
3.2TABLE SHOWING AGE OF RESPONDENTS
Age in years Under 18 2 03.00

18-29 66 94.00
30-44 2 03.00
Total 70 100
Series 1
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
under 18 18-29 30-44

business .”
3.3TABLE SHOWING EDUCATIONAL QUALIFICATION
Educational SSLC 3 04.00

qualification PUC 4 06.00
Degree 33 47.00
PG 29 42.00
Any other 1 01.00
Total 70 100
4.5
3.5
3
Series 1
2.5
Column2
2
Column1
1.5
0.5
0
SSLC PUC DEGREE PG ANY OTHER

business .”
3.4TABLE SHOWING MONTHLY INCOME
Monthly income Up to 10000 46 66.00

10000-30000 21 30.00
30000-50000 2 03.00
50000 & more 1 01.00
Total 70 100
100%
90%
80%
70%
60% Column1
50% Column2
40% Series 1
30%
20%
10%
0%
UP TO 10000 10000-30000 30000-50000 50000A NAD
ABOVE
Source: Primary data
Analysis and interpretation:
The table 3.1 reveals that 51% of the respondents are male. The table 3.2 94% Of the
respondents are belongs to the age of 18-29 years . The table3.3 47% of the
respondents are graduates, 81% of the respondents are students and self-
employed,The table 3.4 and 66% of the respondents are earning monthly income
belongs to up to 10000.

business .”
CHAPTER-4
DATA ANALYSIS AND INTERPRETATION

INTRODUCTION:
Data analysis and interpretation is the process of assigning meaning to the

collected information and determining the conclusions, significance and
implications of the findings. It is an important and exciting step in the process of
research. In all research studies, analysis follows data collection.
are male. 94% Of the respondents are belongs to the age of 18-29 years, 47% of the
respondents are graduates, 81% of the respondents are students and self-employed,
and 66% of the respondents are earning monthly income belongs to up to 10000.

business .”
Table 4.1
GOODS AND SERVICES THAT ARE PURCHASED IN ONLINE
Preference /Gender Female Male Total

Food and beverages 7 7 14
Goods and Electronics 8 12 20
Local public transport 1 - 1
Ticket for movies - 1 1
Motor fuel 1 2 3
Utility bills 15 10 25
OTHER 4 2 6
Total 36 34 70
15
CHART 4.1 Goods/services purchased in online
12
10
8
7
7
female
2
2
1
male
Source: primary data
From the above graph and table it can be noticed that males from our sample tend to
purchase goods, electronics, tickets for events, movies and pay utility bills online

business .”
whereas the females also tend to purchase food and beverages apart from purchasing
goods like electronics.
Table-4.2
Threats Female Male Total

Frauds 06 09 15
Privacy 07 12 19
Security 23 12 35
tax 00 01 01
Total 36 34 70
BIGGEST CONCERNS WHILE MAKING ONLINE PAYMENT
CHART 4.2 Threat using online payments

23
female
12
12
male
9
7
6
FRAUDS PRIVACY SECURITY TAX
Analysis and Interpretation:
From the above commentary it could be observed that each male and female
respondent that privacy and security are the largest situation that many clients dealing
with even as making on-line fee. The e-payment customers might ideally want to stay
with simplest one or two apps only, instead sharing their bank info in diverse different
platforms. Once the customers use some.

business .”
Table 4.3
COD V/S ONLINE PAYMENT PLATFORMS
Payment method Male Female Total
Cash on delivery 22 17 39
Online payments 14 17 31
Total 36 34 70
CHART 4.3 COD v/s online payment system
25
20
female
15 male
10
0
Cash on delivery online payment
In the above chart and table 4.4 shows the cash and delivery v/s online payment
options in that we can see most preferred payment used COD methods female and the
same percentage of both male and female preferred to use online payments it shows
that the payment of online Platforms because of various reasons that is threats faced
while making online payment which shown in chart 4.4 and fear of losing money.

business .”
Table 4.4
AWARENESS ABOUT ONLINE PAYMENT
Age Demonstration Family Friends Myself Total
Under -18 1 - - 1 2
18-29 4 4 29 29 66
30-44 - - - 2 2
Total 5 4 29 32 70
CHART 4.4 WHO INFLUENCED YOU TO USE

ONLINE PAYMENT
35
30
Demonstration
25
Family
20 Friends
Myself
15
10
0
18-29 30-44 under 18
It can be noticed that majority of respondent does not influence by anybody, they had
already had knowledge about e-payment. Here it is observed that word of mouth has
influenced the payment services. Many organizations have limited e-payment
platforms, so if the consumer wants to purchase anything from that website, they must

business .”
choose from the available platforms only, so to some extent the ecommerce platforms
also influence the s
Table 4.5
PAYMENT METHOD USED WHILE BUYING IN ONLINE

BASED ON OCCUPATION
Occupation Credit Debit Mobile Net Total

Card Card Banking Banking
Employed - 5 5 1 11
Professional - 2 - - 2
Self employed - 2 6 8
Student 5 20 16 8 49
Total 5 29 27 9 70
CHART 4.5 Which payment method you are using while making online payment
8
Student 16
20
5
6 net banking
self employed
2
Mobile banking
debit card
professional credit card

2
1
employed 5
5
0 5 10 15 20 25
From above bar diagram we can observe that most of the people use debit card for
their online business transaction, because of safety and security. Most of the people

business .”
aware of that payment method and getting many advantages from that like discounts,
cashback offers etc. while buying from e-commerce websites.
CHART 4.6 FREQUENCY USING ONLINE PAYMENT
CHART 4.6 FREQUANCY OF USING

E-PAYMENT
24
23
19
Total
4
DAILY FREQUENTLY NEVER RARELY
Source: primary data.
From the observation we can noticed that majority of people using e-payments daily
and frequently in their day-today business transactions. The daily users of e-payments
are more. And some of the people use it as occasionally, when they don’t have any
other option of payment like any emergency. And some group of people will be there,
who don’t ready to put their money into risk? Such people use only traditional way of
payment.

business .”
CHART 4.7: MOST PREFERRED ONLINE PAYMENT APPS
chart 4.7 which digital platform do you use
Google pay
mobikwik
40% 40%
other
paypal
Paytm
phone pay
1%
12% 1% 6%
Interpretation:
From the above pie-chart we can noticed that 40% of respondents are using phone-
pay, 40% of respondents using Google-pay, 12% of respondents are using Pay-TM
and 6% of respondents are using other digital payment apps. Now majority of market
shares are hold by Google pay and phone-pay in the market.

business .”
CHART 4.8 FUTURE OF ONLINE BUSINESS
chart 4.8 Mobile payments are expected to

continue with continues growth
45
40
40
35
30
25
19
20
Total
15
10 7
4
5
0
agree disagree strongly agree strongly disagree
Interpretation:
From the above we can notice that 40% of the respondent and 19% of the respondent
agreed and strongly agreed that mobile payments are expected to continue with
continues growth in future

business .”
CHART 4.9: TREND IN CONSUMER BUYING BEHAVIOUR
CHART 4.9 TREND IN BUYING GOODS

AND SERVICE OVER THE INTERNET
THROUGH ONLINE PAYMENT
40
19 Total
7
AGREE DISAGREE STRONGLY AGREE STRONGLY

DISAGREE
Interpretation:
From the above we can interpret that majority of the people agreed that the consumer
buying behaviour is changing from traditional to modern way of buying that is buying
goods and services over the internet from online through online payment. Even from
rural area people also buying goods from online. And most of the people buy goods
and services by sitting and placing the order and making the payment in mobile or
Pc’s with the help of internet without any direct contact with buyer or seller which
saves money and time of both the parties.

business .”
CHART-4.10 E-PAYMENT OFFERS A GREAT CHOICE OF

CONSUMER AND MERCHANT IN THE WAY THEY SEND AND
RECEIVE PAYMENT
CHART 4.10 E-PAYMENT OFFERS

CONSUMERS AND MERCHANTS SEND
AND RECEIVE PAYMENT
42
20
Total
4
AGREE DISAGREE STRONGLY AGREE 4

STRONGLY
DISAGREE
Interpretation:
The above chart provides the information about the e-payment offers the consumers
and merchants to send and receive money option for the more respondents agree the
above stated data and also some respondents are strongly agreed.

business .”
CHART 4.11-PAYMENTS ARE BETTER THAN CASH
CHART 4.11 E-PAYMENTS ARE BETTER

THAN CASH
40
24
Total
4

DISAGREE
Source : primary data
Interpretation:
In this diagram represents the e-payments are better than the cash the respondents are
agree more and strongly agree it shows that the present situation the e-payments are
better the cash.

business .”
CHART 4.12 HAVE YOU EVER LOST MONEY DUE TO FRUAD?
CHART 4.12 Have you ever lost money due to fruad
24%
No
Yes
76%
Interpretation:
In the above pie chart shows the data respondents of have you ever lost money due to
fraud
In that 24% of people said no means in the transaction through the online payment is
secure for purchasing.

business .”
CHART 4.13 MOBILE PAYMENT ARE EXPECTED TO USE

CONTIUE WITH CONTINUES GROWTH
CHART 4.13 MOBILE PAYMENTS ARE

EXPECTED TO USE CONTINUE WITH
CONTINUES GROWTH
40
Total
19
7

DISAGREE
Interpretation:
Above chart will shows that the respondents agree with the mobile payments are to
use continues growth.

business .”
CHART 4.14E-PAYMENT SAVES TIME AND MONEY
CHART 4.14 E-PAYMENTS SAVES TIME

40
AND MONEY
25
Total
4

DISAGREE
Interpretation:
In the above chart shows the information about the e-payment saves the time and
money in that most of respondents are agreed and also strongly agreed.

business .”
CHART 4.15 SECURITY MEASURES IN ONLINE PAYMENT
installing limiting
GENDER/SECURITY self user Grand
antivirus online
MEASURES awareness education Total
software activities
Female 4 4 22 6 36
Male 5 6 15 8 34
Grand Total 9 10 37 14 70
CHART 4.15 SECURITY MEASURES

AGAINST VARIOUS KINDS OF ONLINE
BANKING ATTACKS
22
15
installing antivirus software
limiting online activities
self awareness
8
6
6
5
user education
4
FEMALE MALE
In the above stated table and chart most of the female and male respondents are self-
awareness are chosen because in the online banking gives you to aware of security to
understand the self-awareness.

business .”
CHART 4.16 DIGITAL BUYERS IN INDIA
Source: Secondary data
Interpretation:
The numbers of digital buyers increasing from past years we can analyse that
consumer are going to buy goods and services with digital.

business .”
CHART 4.17 MOST POPULAR PAYMENT METHOD IN INDIA
Interpretation:
In this survey we can see that Indians also digital payments for online purchase. Card
and online payments are most used payment in India.

business .”
CHART 4.18: Impact of the COVID-19 on digital payments in India

as of April 2020:
Interpretation:
By the chart we can interpret that in the pandemic situation majority of Indians used
online payment method for purchasing necessary goods and services such as
groceries, medicine etc.

business .”
CHART 4.19: Opinion about purchasing items after lockdown

relaxation in India:
Interpretation:
After the lockdown relaxation most of consumers prefer to buy in retail stores, and
26% of respondents preferred to by in online sites by online payment method.

business .”
CHAPTER-5
FINDING, SUGGESTIONS & CONCLUSION
5.1 SUMMARY OF FINDINGS:
❖ It can be found that maximum people purchase for their convenience and discounts.
Convenience would be in respect to the availability of variety, products being
couriered at home or making payments online irrespective of different payment option
or keeping too much cash at home.
❖ It was found that males from our sample tend to purchase goods and electronics and
pay utility bills online whereas the females also tend to purchase goods and electronic
apart from paying utility bills. Here it can be noticed from purchasing things online
people also prefer paying the utility bills online instead of standing in the line and
convenience of online payment.
❖ It has notice that the users prefer mostly upfront discounts and the payments that can
be tracked. From organizations point of view this helps in building trust and loyalist.
❖ It is found that maximum people choose cash on delivery over online payment
methods, because of fear of losing money and lack of trust.
❖ The maximum people are aware of E-payment by themselves, and others are
implemented through friends and then family that people shift to online payments.
Here it is observed that the word of mouth has influence at the payment services.
Money organization have limited e-payments platforms, so if the consumer wants to
purchase anything from that website, they must choose from the available platforms
only, show to some extent The E-Commerce platforms also influence the same. For
example, in Myntra any product purchased and if it is required to return, we have to
download phonepe app for getting the money refunded.
❖ It can be found that many agree that security and privacy of the biggest concern that
many consumers agree. The e payment users food preferably like to stick with only
one or two apps only, instead of sharing their bank details in various other platforms.
once the users use some particular app, they build up their trust on the app only until
and unless if they experience or wear a negative feedback they would switch
immediately.

business .”
❖ People would prefer online payments more than that of the physical cash full stop as
in money places wherever we travel or use their services or buy any product
maximum people are already using the above-mentioned apps which are also
accessible through mobile phones. So, there is no threat of carrying cash or card, so
it's more like apps in your jeans.
❖ although there are people concerned about the security but still the online users
already to the next move in digital evolution. the organization move that the users are
increasingly moving towards the cashless payment and accept the online platforms
providers to provide budget forecasting for managing their finance. so, organization
can help for users to strategies their budget while or before purchasing any product in
future.
❖ Most of the people use debit card for their online business transaction, because of
safety and security. Most of the people aware of the payment method and getting
many advantages from that like discounts, cashback offers etc. While buying from E-
Commerce websites.
❖ Majority of people using repayment frequently in their day-to-day business
transactions. The daily uses of the payments are less. And some of the people use it as
occasionally when they don't have any other option of payment like any emergency.
And some group of people will be there, who don't ready to put their money into risk?
P such people use only traditional way of payment.
❖ Phone pay and Google per are the most leading digital payment apps in India. Now
maturity of market shares or hold by Google pay and phonepe in the market.
❖ there are people concerned about the security but still the online users are ready for
the next move in the digital evolution. The organization no that the users are
increasingly moving towards the cashless payment and accept the online platforms
providers to provide budget forecasting for managing their finance. So, the
organization can help users to strategies their budget while or before purchasing any
product in future.
❖ Maturity of the people strongly agreed that the consumer buying behavior is changing
from traditional to modern way of buying that is buying goods and services over the
internet from online through online payment. Even from rural area people also buying
goods from online.

business .”
5.2 SUGGESTIONS:
✓ research findings suggest that use of online payments have increasingly become
popular due to the large and wide spread of smartphone. The users have over the
period of time has developed trust on the e-payments.
✓ It is observed maximum users purchase due to the discount and the convenience. It
has been noticed that advantages of the payment’s methods are frequently related to
the benefits provided by the smartphones, which includes independent payments, easy
to access the service anywhere anytime, doorstep services, easily tracked and to avoid
the cash payments.
✓ there have been always teachers in consumers mind regarding the security and
privacy. For suitable growth it is important for the organization to consider various
technologies to overcome the consumer's concerns. Technologies like block chains
are replacing the expensive, and productive accounting and payment system of
financial industry; it can also be used to improve efficiency of regularity compliance
procedures and shape on the back-office costs, etc.
✓ Biometric it is an advancement of e payment technologies, many consumers usually
forget the password or get scared to share the pin number, so biometric along with the
internet of things and artificial intelligence will help consumers Atlantic the purchase
or bill payments through the fingerprint or retain scan and also detect online fraud.
this will help the consumers to build up the confidence on also improve user interface
experience.
✓ These are future technologies that can be used to enhance the consumers online
payment experience. WhatsApp using unified payments interface implication where
the user just selects the WhatsApp contact, enter the mode followed by the four-digit
UPI pin and funds will be transferred. Many organizations tie up existing payment
gateways that have already built trust for example in merchants like BookMyShow,
red Bus, Yatra etc.; their customers can use Amazon pay as well.

business .”
5.3 CONCLUSION:
The digital revolution has triggered the way of people communicating, purchasing
products, paying the utility bills online, exchange of information or performing
businesses. The technology has altogether changed the consumer behavior patterns
worth purchasing and utilizing the products or services. They try to take advantage of
various digital platforms to expand their business and for sustainable development
growth. The organizations through digital or able to share the experience by giving
the consumers various options like variety, discounts, comparison, payment
preference, etc. This has in fact exposed consumers towards the habit you'll use of
browsing products, using different online payments that in turn develop trust and
usually loyalty towards the products platform. At the same time companies get the
necessary development in their businesses, as the advancement of technology has
been given them Liberty for tracking the consumers preferences, feedbacks, attitude
towards the product, there is search patterns, etc.
The organizations are trying their level best to attract the consumers towards using the
E-payment platforms to increase their business, but there has been always a hit in
consumers mind regarding the security and privacy. For sustainable growth it is
important for the organization to consider various technologies to overcome the
consumers concerns. The technologies like back change are replacing the expensive,
and productive accounting and payment system of the financial industry; it can also
be used to improve efficiency of regularity complaints procedures and save on the
back of his cost, biometric it is an advancement of e payment technologies, consumers
ticket the purchase or bill payments through the fingerprints or a retina scan and also
detect online fraud. this will help the consumers to build up and the confidence on
also improve user’s interphase experience. These are few technologies that can be
used to enhance the consumers online fee payment experience. So that it helps in
emerging trends in E-payment system with perspective customer adoption.

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ORIGINALITY REPORT
6 %
SIMILARITY INDEX
6%
INTERNET SOURCES
4%
PUBLICATIONS
4%
STUDENT PAPERS
PRIMARY SOURCES
1
baadalsg.inﬂibnet.ac.in
Internet Source 2%
www.caclubindia.com
2 Internet Source 1%
www.ijitee.org
3 Internet Source 1%
Submitted to Christ University
4 Student Paper 1%
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Exclude bibliography On
PROGRESS REPORT -1
SL.NO PARTICULARS
1 Name of the Student DILIP G
2 Registration Number 19SLCMD026

3 Name of College Guide Assistant professor Dr.SWETA BHASIN
4 Title of the Dissertation “A Study On the adaptation of e-payment

for the sustainable growth of online
business”
Progress report: A brief note • Synopsis is approved
reflecting, Number of meeting with • Questionnaire is designed and
Guides, place visited, libraries implemented.
5 visited, books referred, meeting • Primary data collection is completed.
with persons, activities taken up,
• Data analysis is in process.
preparation done for collection and
analysis of data etc,,
Date:
Signature of the Candidate Signature of the Guide
1
PROGRESS REPORT -2
SL.NO PARTICULARS
1 Name of the Student DILIP G
2 Registration Number 19SLCMD026

3 Name of College Guide Assistant professor Dr. SWETA BHASIN
4 Title of the Dissertation “A Study on the adoption of e-payment for

the sustainable growth of online business ”
Progress report: A brief note • I met external guide twice in a week

reflecting, Number of meeting with • Completed with data analysis and finding
5
Guides, place visited, libraries • Currently working on suggestion and
visited, books referred, meeting conclusions.
with persons, activities taken up,
preparation done for collection and
analysis of data etc.
Date:
Signature of the Candidate Signature of the Guide
2
3

19LCMD026 Dilip G - 220706 - 115618

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“A STUDY ON THE ADOPTION OF E-PAYMENT FOR

THE SUSTAINABLE GROWTH IN ONLINE

MASTER OF BUSINESS ADMINISTRATION

Under the guidance of

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT,

HSR LAYOUT, BENGALURU-560102.

I hereby declare that “A STUDY ON THE ADOPTION OF E-PAYMENT FOR

THE SUSTAINABLE GROWTH IN ONLINE BUSINESS” is the result of the

Place: Bangalore DILIP G

Date: (REG NO: 19SLCMD026)

Certificate of Originality (Plagiarism)

Name of the student : DILIP G

Registration Number : 19SLCMD026

Title of Project : A Study On the adoption of e-

Name of the Guide : DR. SWETA BHASIN

Similarity Index (%) identified : 6%

(Acceptable maximum limit of similarity 25%)

Project ID number in DRILLBIT : 1665779396

Signature of the Guide Signature of the Principal

CHAPTER NO CHAPTER NAME PAGE NO

2. RESEARCH DESIGN 39-46

3. RESPONDANCE PROFILE 47-58

4. DATA ANALYSIS AND 59-78

5. FINDING, SUGGESTION AND 79-82

TABLE NO TABLE OF CONTENTS PAGE NO

TABLE SHOWING GOODS AND

TABLE SHOWING BIGGEST CONCERNS

TABLE SHOWING COD V/S ONLINE

TABLE SHOWING AWARENESS ABOUT

TABLE SHOWING PAYMENT METHOD

TABLE SHOWING SECURITY

CHART TABLE OF CONTENTS PAGE NO

CHART SHOWING THREAT USING ONLINE

CHART SHOWING COD V/S ONLINE PAYMENT

CHART SHOWING E-PAYMENT ARE BETTER THAN

CHART SHOWING HAVE YOU EVER LOST MONEY

CHART SHOWING MOBILE PAYMENTS ARE

CHART SHOWING SECURITY MEASURES AGAINST

CHART SHOWING NUMBERS OF DIGITAL BUYERS

4.17 CHART SHOWING MOST POPULAR PAYMENT 76

CHART SHOWING IMPACT OF THE COVID-19 ON

CHART SHOWING OPINION ABOUT PURCHASING

1.1 INTRODUCTION TO E-PAYMENT

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 1

• State Bank of India and its associates

2.Nationalized banks: nationalization refers to the transfer of public sector assets to

4.Foreign banks: a foreign bank is a type of international Bank that is obligated to

1.2 FUNCTION OF COMMERCIAL BANKS:

• Accepting deposits: the primary function of every bank is accepting deposit in

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 2

1.3 INTERNET BANKING

Internet is a channel of service to their customers. the access to account information

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 3

system. A higher level of security may be reached by an electronic fingerprint.

1.31 E-BANKING ISSUES AND RISK:

Operational issue: it may rise due to inaccurate processing of transaction, non

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 4

requirement in some countries and jurisdiction ambiguity with respect to

1.4 E -BANKING RISKS

Transactional/operational risk: it arises from fraud, processing errors, system

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 5

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 6

THE OXFORD COLLEGE OF BUSINESS MANAGEMENT Page 7