A

Project Report On
“A COMPARATIVE STUDY BETWEEN PATYM AND GOOGLEPAY”

FOR

M.Com Part II

(SEMESTER II)

SUBMITTED BY

Miss: Rupa Shrikant Dodamani

Under the Guidance of

Mr. Asst. Prof. Shreenivasan

Hindi Vidya Prachar Samiti’s

Ramniranjan Jhunjhunwala College of

Arts, Science & Commerce
(Autonomous College)
Affiliated to UNIVERSITY OF MUMBAI

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 CERTIFICATE

OF

PROJECT WORK

This is to certify that, Ms. Rupa Shrikant Dodamani, M.Com Part II (Business Management),
Semester-II Seat No: ______ has undertaken and completed the project titled “A comparative
study between Paytm and Googlepay” during the academic year 2021-2022 under the guidance
of Mr. Asst. Prof. Shreenivasan Submitted of 2022 to this college in fulfilment of the curriculum
of M.Com Part II, UNIVERSITY OF MUMBAI.

This is a bonafide project work & the information presented is true and original to the best of or
knowledge & belief.

PROJECT GUIDE EXTERNAL EXAMINER

COORDINATOR PRINCIPAL

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 DECLARATION

I, the undersigned Ms. Rupa Shrikant Dodamani, hereby declare that the work embodied in this
project work titled “A COMPARATIVE STUDY BETWEEN PAYTM AND GOOGLEPAY”
forms my own contribution to the research work carried out under the guidance of Asst. Prof. Mr.
Shreenivasan Degree is a result of my own work and has been previously submitted to any other
University for any other / Diploma to this or any other University. Whenever reference has been
made to previous works of others, it has been clearly indicated as such and included in the
bibliography.

I, here by further declare that all information of this document has been obtained and presented
in accordance with academic rules and ethical conduct.

(Ms. Rupa Shrikant Dodamani)

Leaner

Certified by

(Asst. Prof. Mr. Shreenivasan)

Project Guide

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 ACKNOWLEDGMENT

I would like to extend my heartfelt thanks to all who have helped me for completion of this project.
A simple thank you would be insufficient because they are so numerous and the depth is so
enormous.

I would like to acknowledge the following as being idealistic channels and fresh dimensions in the
completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do this project.

I would like to thank my Principal, for providing the necessary

facilities required for completion of this project.

I take this opportunity to thank our SFC Coordinator, for

her moral support and guidance.

I would also like to express my sincere gratitude towards my project guide Asst. Prof. Mr.
Shreenivasan under whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me in the
completion of the project especially my Parents and Peers who supported me throughout my
project.

Ms. Rupa Shrikant Dodamani

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 EXECUTIVE SUMMARY

This Research work is totally focusing on the consumer behavior towards digital payment, and as
well as consumer‘s awareness, Preference and consumption patterns. Also opinion about the
determinants of image of a digital payment in Mumbai.

As today many people use digital payment method in the city. For selecting sample sampling
technique was used. Sample consists of all those people who are above 18 year age in Mumbai.
This project has been made on the research on comparative study between PAYTM &
GOOGLEPAY.

Purpose of this project is to identify the characteristics of different variables which are mostly
responsible for using digital payment methods by using this two apps by the people of city of
Mumbai, also the main aim of research work is to find out buying behavior of the who are using
digital payment and to find the factor behind it.

Just as digital technologies have transformed so much of our lives, from access to information to
communicating, the adoption of digital payments is fundamentally transforming banking systems,
commerce, and societies around the world.

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Digital payments are full of promise. They can bring new levels of convenience and efficiencies,
security and transparency, access and growth. Countries that have rolled out payment systems are
already reaping the benefits. However, due to the inherent complexities of financial systems and
of deploying digital technology, there is no one-size-fits-all model.

Rather, there are multiple models for expanding the adoption and usage of digital payment
solutions in a country, from card networks in the developed world to closed loop stored value
wallets and Real-Time Payments (RTP) systems that facilitate bank account to bank account
transactions at relatively low cost.

In this paper, we’ll focus on RTP systems. More than 50 countries have rolled them out, with many
more in the works. RTP systems are the rails for modern payment infrastructures, offering near-
instant transactions with a minimum of friction for all parties.

They fundamentally change how payments are made and the ways in which they can become
embedded in the new digital economy.

They provide a foundation on which groups can build new services that evolve and improve
payments for consumers, merchants, financial institutions, and governments.

These are exciting times in the world of digital payments, but in many ways it’s just the beginning
of a dramatic change in how the world transacts. We hope you find this paper useful and are also
looking forward to what lies ahead as the inevitable transformation of digital payments continues
to gain momentum.

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 INDEX

CHAPTER CHAPTER NAME PAGE

NO NO
1. INTRODUCTION

1.1 INTRODUCTION OF E-WALLET 9

1.2 TYPES OF E-WALLET 16
1.3 ABOUT PAYTM 20
1.4 ABOUT GOOGLE PAY 22
1.5 ADVANTAGE OF PAYTM 24
1.6 DISADVANTAGE OF PAYTM 26
1.7 ADVANTAGE OF GOOGLE PAY 27
1.8 DISADVANTAGE OF GOOGLE PAY 29
1.9 FEATURES OF PAYTM 30
1.10 FEATURES OF GOOGLE PAY 31
1.11 STEPS TO CREATE PAYTM ACCOUNT 32
1.12 STEPS TO CREATE GOOGLE PAY ACCOUNT 33
1.13 TERMS AND CONDITIONS OF PAYTM 34
1.14 TERMS AND CONDITIONS OF GOOGLE PAY 35
1.15 SERVICES PROVIDED BY PAYTM 36
1.16 SERVICES PROVIDED BY GOOGLE PAY 37
1.17 STATEMENT OF PROBLEM IN PAYTM 38
1.18 STATEMENT OF PROBLEM IN GOOGLE PAY 40
1.19 IMPACT OF DEMONETIZATION 42

2. RESEARCH METHODOLOGY

2.1 INTRODUCTION TO RESEARCH DESIGN 47

2.2 SOURCES OF DATA 47-48

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2.3 OBJECTIVES OF STUDY 48-49
2.4 HYPOTHESIS 49
2.5 SCOPE OF STUDY 50
2.6 LIMITATION OF STUDY 50
2.7 SIGNIFICANCE OF STUDY 51
2.8 SELECTION OF PROBLEM 51
2.9 SAMPLE SIZE 52
2.10 DATA COLLECTION TECHNIQUE 52

3. LITERATURE RIVIEW 53-57

4. DATA ANALYSIS, INTERPRETATION AND 58-78

PRESENTATION
5. FINDINGS, SUGGESTIONS AND CONCLUSIONS.

5.1 FINDINDS 80
5.2 RECOMMENDATIONS & SUGESSTIONS 80-81
5.3 CONCLUSION 81
5.4 BIIBLIOGRAPHY 83
5.5 WEBLIOGRAPHY 83
5.6 ANEXURE. 84
5.6.1 QUESTIONNAIRE 84-88
5.6.2 LIST OF TABLES 89
5.6.3 LIST OF GRAPHS 90-92

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CHAPTER 1-INTRODUCTION

1.1 INTRODUCTION TO E- WALLET

1.2 TYPES OF E- WALLET
1.3 ABOUT PAYTM
1.4 ABOUT GOOGLE PAY
1.5 ADVANTAGES OF PAYTM
1.6 DISADVANTAGES OF PAYTM
1.7 ADVANTAGES OF GOOGLE PAY
1.8 DISADVANTAGES OF GOOGLE PAY
1.9 FEATURES OF PAYTM
1.10 FEATURES OF GOOGLE PAY
1.11 STEPS TO CREATE PAYTM ACCOUNT
1.12 STEPS TO CREATE GOOGLE PAY ACCOUNT
1.13 TERMS & CONDITIONS OF PAYTM
1.14 TERMS & CONDITIONS GOOGLE PAY
1.15 SERVICES PROVIDED BY PAYTM
1.16 SERVICES PROVIDED BY GOOGLE PAY
1.17 STATEMENT OF PROBLEM IN PAYTM
1.18 STATEMENT OF PROBLEM IN GOOGLE PAY
1.19 IMPACT OF DEMONETIZATION

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 1.1 INTRODUCTION TO E-WALLET

E-wallet stands for electronic wallet. It is a type of electronic card which is used
for transactions made online through a computer or a Smartphone. The utility of e-
wallet is same as a credit or debit card. An e-wallet needs to be linked with the
individual’s bank account to make payments. The main objective of e-wallet is to make
paperless money transaction easier. It is a software based system that securely stores
user’s payment information and passwords for numerous payment methods and
websites. By using an e-wallet, users can complete purchases easily and quickly with
near-field communication technology. They also create stronger passwords without
worrying about whether they will be able to remember them later. E-wallets can be
used in conjunction with mobile payment systems, which allow customer to pay for
purchases with their Smartphone.

An e-wallet can also be used to store loyalty card information and digital coupons.
The digital revolution continues to transform most aspects of our daily life. In
particular, the digital revolution has resulted in the vertical convergence of business
channel capacities. The digital revolution also continues to transform the public sector
organizations and services.

A next step in the digital revolution is the transformation of the time honored
traditional physical wallet into the e-wallet. Virtual cash or Cashless Transaction is an
upcoming technology that has seen a tremendous growth in the past year. Cashless
payments are now becoming a popular trend in almost every field. Be it E-Commerce
websites or DTH recharge. Cashless services are proving to be the future of transaction
services, with minimum or no use of physical cash. It is also being considered an
alternative to plastic cash.

E-wallet is a type of electronic card which is used for transactions made online
through a computer or a Smartphone.

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Its utility is same as a credit or debit card. An E-wallet needs to be linked with
the individual’s bank account to make payments. E-wallet is a type of pre-paid account
in which a user can store his/her money for any future online transaction E-wallet has
mainly two components, software and information.

The software component stores personal information and provides security

and encryption of the data. The information component is a database of details
provided by the user which includes their name, shipping address, payment method,
amount to be paid, credit or debit card details, etc. Demonetization has forced a lot of
places to accept digital payments. MobiKwik, Paytm, and Free Charge are being
accepted at toll plazas; in Mumbai, Free Charge is an option for paying police challans.
MobiKwik is accepted by, Paytm supports flight tickets within the app. Reliance Jio
plans to get 10 million merchants on board for its Jio Money Merchants solution.
All of these apps are aggressively targeting smaller merchants to ensure they are
accepted at more and more places. Your neighborhoods grocer might have switched
already.

DEFINITION OF ‘E-WALLETS’

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

DESCRIPTION

E-wallet is a type of pre-paid account in which a user can store his/her money for any
future online transaction. An E-wallet is protected with a password. With the help of
an E-wallet, one can make payments for groceries, online purchases, and flight tickets,
among others. E-wallet has mainly two components, software and information. The
software component.
The software component is a database of details provided by the user which includes
their name, shipping address, payment method, amount to be paid, credit or debit card

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

CONCEPT OF E-WALLET

An E-wallet has both a software and information component. Secure and

fair electronic payment systems are important issue. 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 websites. A server-side digital wallet, also known
as a thin wallet, is one that an organization creates for and about you and maintains on
its servers.

Server-side digital wallets are gaining popularity among major retailers due to the
security, efficiency, and added utility it provides to the end-user, which increases their
satisfaction of their overall purchase. The information component is basically a
database of user-input information. This information consists of your shipping address,
billing address, payment methods (including credit card numbers, expiry dates, and
security numbers), and other information.

E-wallets are composed of both digital wallet devices and digital wallet
systems. There are dedicated digital wallet devices such as the biometric wallet by
Dunhill, a physical device that holds cash and cards along with a Bluetooth mobile
connection. Presently there are further explorations for Smartphone with NFC digital

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wallet capabilities, such as Smartphone utilizing Google's Android and Apple's iOS
operating systems to power wallets such as Google Pay and Apple Pay.

E-wallet systems enable the widespread use of digital wallet transactions

among various retail vendors in the form of mobile payments systems and digital
wallet applications. The M-PESA mobile payments system and micro financing
service has widespread use in Kenya and Tanzania, while the MasterCard Pay Pass
application has been adopted by a number of vendors in the U.S. and worldwide.

E-wallets are being used more frequently among Asian countries as well. One in every
five consumers in Asia is now using a digital wallet, representing a twofold increase
from two years ago. A MasterCard mobile shopping survey among 8500 adults, aged
18–64 across 14 markets, showed that 45% of users in China, 36.7% of users in India
and 23.3% of users in Singapore are the biggest adopters of digital wallets.

The survey was conducted between October and December 2015. Further analysis
showed that 48.5% of consumers in these regions made purchases using Smartphone.
Indian consumers are leading the way with 76.4% using a Smartphone to make a
purchase, which is a drastic increase of 29.3% from the previous year. This has
inspired companies like Reliance and Amazon India to come out with their own digital
wallet. Flipkart has already introduced its own digital wallet.

E-wallets aim to eliminate the need for people to carry traditional wallets.
There biggest advantage, so claim e-wallet creators, is security. It is so far difficult to
steal a digital wallet than a traditional one. Even though it is supposedly more secure,
e-wallet owners lose some of their privacy. Traditional wallets do not track our
purchases. They do not have information on our shopping habits. E-wallets do, i.e.,
they keep records of what you bought.

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Companies can get hold of that data. It is useful for marketing executives because
then they know who to target with, for example specific advertisements.

OPERATIONAL MECHANISM

Under electronic wallet, the individual pre-loads cash in the e-wallet and use it to
make payments or transfers. Loading of money is done either electronically using
a computer / mobile by debiting from a credit card or bank account or physically by
handing over cash at a local merchant (point of sale[POS]) or at the ATM counters.
What are required is an internet connection and mobile /computer. With the technology
in place, mobile based operations through e-wallets have become a model for financial
inclusion.

There are charges for use e-wallet, which include registration fees and cash loading
charges (above a limit) towards payment companies / service providers. These charges
are at times higher than those for internet banking. However, the main advantage with
the e-wallet is that while shopping online, the customer stands to benefit from the
concessions/ offers from the payment companies in the form of cash-backs etc. The
use of e-wallets substantially reduces the cost of doing banking transactions.

BENEFITS OF E-WALLETS

Use of debit cards requires access to designated point of sales and ATM
counters. However, in case of e-wallets, money moves along with the holder and he
can access it from an instrument held in his hand – his mobile or computer, giving a
lot of flexibility for the account holder. Further e-wallets avoid the dangers associated
with card thefts. For those who stay far away from the brick and mortar ATM / bank
branches, as in the case of rural areas, money is still accessible to them at the click of
a button. In case of any requirement for physical cash, they just need to go to the nearby
banking correspondent or a local merchant who can double up like an ATM machine.

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Thus, e-wallet comes handy for those who do not have a bank account, net banking or
credit card, especially those who may otherwise be in-eligible for receiving them. At
present, services are not generally designed to handle big payments. The use of e-
wallets substantially reduces the cost of doing banking transactions. Through e-wallets
small and micro payments covering a large number of people (e.g. entry fee of Rs. 10/-
to a monument, application fee such as the fees of Rs. 10/- under the Right to
Information Act, 2005, utility bill payments etc.) can be cost effectively carried out.
Effecting such transactions through the normal/traditional route would be burdensome
for the banks, requiring more people to be employed at their counters. The use of e-
wallet has been very successful in Kenya through, where millions of people are
estimated to be using this service to transfer small amounts of money to other people
and merchants via their mobiles. In Kenya, this has been facilitated by the support of
large number of agents and business correspondents. Use of e-wallets particularly
facilitates e-commerce as customers are not required to fill out order forms at each
site when they purchase an item as the information has already been stored and
is automatically updated and entered in the order fields across merchant sites. Use of
e-wallets helps in moving away from cash based economy. In the process, all the
transactions get accounted in the economy, which has the effect of reducing the size
of the parallel economy.
It offers more convenience for many consumers. Users are able to get through a
purchase in mere seconds, all you need to do is tap your device to the payment
receptacle, or have your mobile device scanned, to pay for the items you are
purchasing. So, the experience of purchasing items becomes quicker and easier –
leading to a greater sense of satisfaction. Furthermore, with faster transactions,
checkout lines within stores become much shorter. E wallets ensure high-security
features for the users by considering that you authorize every transaction with a PIN
or password or fingerprint scanner. Furthermore while paying with an e-wallet, you
not need to disclose your debit/credit card details to anyone, online or offline. The
information is stored through a third-party provider. It’s locked behind your password
or biometrics. Even if you lose your device, you’ll still have access to your e-wallet
once you get a new device. Digital wallet applications provide a more convenient

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 transaction processing method for customers, giving businesses that employ this
technology a competitive edge in the market. It redefines the user experience of paying
and incorporates a novelty aspect to each purchase. Free charge allows you to use
Digital cash in a number of places such as train tickets, bus tickets, gas, water,
electricity, etc. PayPal also has partners such an s eBay, best buy, southwest and many
more. Thus, E-wallets offer a variety of options and save your time.

1.2 TYPES OF E-WALLET

1. CLOSED WALLET

A company selling products and services can develop a closed wallet for customers. Users
of a closed wallet can use the funds stored to make transactions with only the issuer of the
wallet. The money from cancellations, returns, or refunds is stored in the wallets. Amazon
Pay is an example of a closed wallet. A closed wallet helps user to make payments through
an application or website. They are generally developed by companies selling products or
services for their customers. Users of a closed wallet can use the stored funds only with the
issuer of the wallet to complete the transaction.

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2. SEMI-CLOSED WALLET

A semi-closed wallet allows users to make transactions at listed merchants and

locations. Although the coverage area of such wallets is restricted, both online and offline
buying can be done through the wallets. However, merchants need to enter into agreements
or contracts with the issuer for accepting payments from the mobile wallets. A semi-closed
wallet offers users the ease to make transactions at listed merchants and locations.

3. OPEN WALLET

Banks or institutes partnered with banks issue open wallets. Users with open wallets
can use them for all transactions allowed with a semi-closed wallet in addition to
withdrawal of funds from banks and ATMs and transfer of funds. Open wallets offer the
flexibility to transfer funds easily. The open e-wallets service provider allows users to
make transactions from any place in the world; however, respective accounts on the
same application.

4. CRYPTO WALLET

Crypto wallets store public and private keys of the users. The keys can be crypto currencies
certificate of ownership. Hardware wallets or cold wallets are there to provide an additional
layer of security and safety. A USB stick can be used to operate wallets offline. These
wallets can be used to process payments with crytocurrencies. A cryptocurrency wallet is
a device, physical medium, program or a service which stores the public and/or private
keys for cryptocurrency transactions. In addition to this basic function of storing the keys,
a cryptocurrency wallet more often also offers the functionality of encrypting and/or
signing information. Signing can for example result in executing a smart contract, a
cryptocurrency transaction (see "bitcoin transaction" image), identification or legally
signing a 'document' (see "application form" image).

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5. IoT WALLET

IoT stands for Internet of Things. These are installed in watches, jackets, wristbands
or other wallet enabled devices like smart car’s computers, smart fridges and more. IoT
based wallets operate with e-money and virtual currencies. A type of digital
wallet containing information about the user’s identity is used to store, send, and receive
transactions on blockchain technology using IoT devices. The main feature of an IoT wallet
is that it can be accessed through devices like watches, Smartphone, laptops, etc. An
example of this kind of wallet is — Bitcoin.

PAYMENT APPS AND E-WALLETS

Payment Apps or mobile wallet refers to the payment services operated under financial
regulation and is performed using a mobile device. The concept of paying using cash,
cheque, debit or credit card is off lately becoming outdated. The new payment mechanism
which involves payment for a transaction using the mobile wallet or mobile money transfer
is gaining momentum. The concept of mobile payment is gradually being accepted and
adopted across the globe in different ways. The exclusive first patent defined as ‘Mobile
Payment System’ was filed way back in the year 2000.
In some of the developing countries, the mobile payment mechanism is being used as
a means of extending financial services to those people who are known as under banked
or unbanked and it is estimated that they constitute close to 50% of the global
adult population, as per the reports from Financial Access of 2009 - ‘Half the World
is Unbanked’. They are mostly used for micropayments.

SOME EXAMPLES OF E-WALLET

Paytm Wallet: Undoubtedly the most popular wallet among Indian users- Paytm Wallet is
a semi-closed wallet with which you can transfer money to other Paytm Wallet users or

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make payments at selected merchants and locations. You can also use Paytm Wallet for
online shopping at your favourite brands.

PayPal One-Touch:It is an extension of services offered by PayPal that enables users

to make payments or transactions without the need of logging in or entering passwords.

Google Pay: Google Pay is a UPI enabled payment wallet that allows you to send or
receive money directly from or to your bank account respectively. You can make
transactions by any debit card or credit card that you have stored with Google Pay already.

Apple Pay: It is a wallet that is exclusively made for the users of iPhone, iPads and
Apple Watches and can be used to make both online and in-store purchases.

Some examples of payment apps or e-wallet are:

∙ Paytm

∙ Amazon Pay

∙ Freecharge

∙ Airtel Money

∙ JIO Money

∙ Google Pay

∙ PhonePe

∙ Ola money

∙ Yono SBI
∙ Oxigen

∙ ICICI Pockets

∙ Vodafone m pesaCash

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 ∙ Axis Bank Lime

∙ Master Pass

∙ MoneyOnMobile

∙ m Rupee

∙ mSwipe

∙ Novopay

∙ Chillr

1.3 ABOUT PAYTM

Paytm (a partial abbreviation for "pay through mobile") is an Indian multinational financial
technology company specializing in digital payment system, e-commerce and financial services.
It is based in New Delhi, India.

The company provides its registered users an app through which they can make financial
transactions and payments to various merchants and financial institutions.

As per the company, more than 2 crore merchants across India use their QR code payment system
to accept payments directly into their bank account. Its gross merchandise value in FY 2020–21
across all platforms was over ₹400,000 crore (US$52 billion).In 2020, Paytm's brand value was
estimated to be US$6.3 billion, making it one of the top 10 most valued brands in India.

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

In October 2011, Sapphire Ventures (fka SAP Ventures) invested $10 million in One97
Communications Ltd. By January 2014, the company had launched the Paytm Wallet, which
the Indian Railways and Uber added as a payment option. It launched into e-commerce with
online deals and bus ticketing. In 2015, it added education fees, metro recharges, electricity, gas,
and water bill payments.Paytm's registered user base grew from 1.18 crore in August 2014 to 10.4
crore in August 2015. Its travel business crossed $500 million in annualised GMV run rate, with
20 lakh tickets booked per month.

In March 2015, Paytm received its huge stake from Chinese e-commerce company Alibaba Group,
after Ant Financial Services Group, an Alibaba Group affiliate, took 40% stock in Paytm as part
of a strategic agreement. Soon after, it received backing from Ratan Tata, the MD of Tata Sons. In
August 2016, Paytm raised funding from Mountain Capital, one of Taiwan-based MediaTek's
investment funds at a valuation of over $5 billion. Also in 2016, it launched movies, events and
amusement parks ticketing as well as flight ticket bookings and Paytm QR. Later that year, it
launched rail bookings and gift cards.

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

In 2017, it became India's first payment app to cross over 10 crore app downloads.The same year,
it launched Paytm Gold, a product that allowed users to buy as little as ₹1 of pure gold online. It
also launched Paytm Payments Bank and ‘Inbox’, a messaging platform with in-chat payments.By
2018, it started allowing merchants to accept Paytm, UPI and card payments directly into their
bank accounts at 0% charge) It also launched the ‘Paytm for Business’ app (now called Business
with Paytm App), allowing merchants to track their payments and day-to-day settlements. Its
merchant base to grow to more than 70 lakh by March 2018. It launched two new wealth

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management products - Paytm Gold Savings Plan and Gold Gifting for long-term savings. In
January 2018, it entered into a joint venture with Alibaba Group-owned gaming company AGTech
Holdings to launch Gamepind, a mobile gaming platform. It was rebranded as Paytm First Games
in June 2019.In March 2018, Paytm Money was started with an investment of ₹9 crore for
investment and wealth management.

In March 2019, the firm launched a subscription based loyalty program called Paytm First, and in
May 2019, it partnered with Citibank to launch Paytm First credit card. On 25 November 2019,
Paytm raised $1 billion in a funding round led by US asset manager T Rowe Price along with
existing investors Ant Financial and SoftBank Vision Fund.In July 2020, Tata Starbucks partnered
with Paytm allowing its customers to order food online during the COVID-19 pandemic.

1.4 ABOUT GOGLE PAY

Google Pay (stylized as G Pay; formerly Android Pay) is a digital wallet platform and online
payment system developed by Google to power in-app, online, and in-person contactless
purchases on mobile devices, enabling users to make payments with Android phones, tablets,
or watches. Users in the United States and India can also use an iOS device, albeit with limited
functionality. In addition to this, the service also supports passes such as coupons, boarding
passes, campus ID cards, car keys, event tickets, movie tickets, public transportation tickets,
store cards, health records, and loyalty cards.

As of 2021, it is currently available in 42 countries.

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 HISTORY

Originally launched as Android Pay, the service was released at Google I/O 2015.

Android Pay was a successor to and built on the base established by Google Wallet which was
released in 2011. It also used technology from the carrier-backed Softcard—Google had acquired
its intellectual property in February 2015.

At launch, the service was compatible with 70% of Android devices and was accepted at over
700,000 merchants. Google Wallet still powered web-based Play Store purchases and some app-
based peer-to-peer payments, for instance, in Gmail.

In 2016, Google began a public trial in Silicon Valley of a related mobile app called Hands Free.

In this system, the customer does not need to present a phone or card. Instead, a customer
announces that they wish to "pay with Google" and give their initials to the cashier, who verifies
their identity with a photo previously uploaded to the system.

The customer's phone will only authorize payment if its geographic location system indicates that
it is near a participating store.

On September 18, 2017, Google launched a payments app in India known as Tez, utilizing
the Unified Payments Interface (UPI). On August 28, 2018, Google rebranded Tez to Google Pay.

The logo of the former branding of the service, Android Pay

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 1.5 ADAVANTAGES OF PAYTM

▪ Easy to Use – Paytm is easy to use. Even people who are not tech-savvy can use
Paytm easily and the user interface is also very simple. You can teach your parents to use
Paytm in just 2 minutes of time and it will make it easy to transact for them.

▪ Digital Transactions Made Easy (Acceptability) – Paytm has changed the way we
transact. It is now very easy and quick to make the payment to merchants. In addition to
this, Paytm was a saviour during demonetization. It became really easy to transact with a
lot of street vendors accepting Paytm. Today, most of the eateries, shopkeepers and
vendors accept Paytm. Moreover, there are multiple modes of payment supported for
adding cash in Paytm. You can use Debit Card, Credit Card, Net Banking, UPI and much
more.

▪ Transfer Money to Person or Business – With help of Paytm, you can transfer money to
a business or a person. For example, if my brother needs some money to book tickets or
to pay someone, I can simply transfer the money to my friend within seconds.

▪ Transfer Money to Bank – Paytm also makes it possible to transfer money to the bank
and this is surely an advantage. You can transfer it to Bank using the account number and
IFSC Code. It works like IMPS and the money is transferred to the bank Isn’t that
amazing?

▪ Recharge, Tickets, Movies and Much More – Paytm entered the market as a platform to
recharge and today it has expanded its service by multiple folds. You can now book

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 movie tickets, air tickets, train tickets, hotels, pay for the insurance premium, school fees,
etc with help of Paytm.

▪ Gold and Mutual Funds – Imagine if you could buy gold worth Rs 50 whenever you
wished to. This way, you can buy a lot of gold with time. The good part is that Paytm lets
you buy digital gold and if required, you can convert it into physical gold as well. In
addition to this Paytm has now started allowing people to buy Mutual Funds as well.

▪ Discounts – There are many discounts available via Paytm and you even get cashback
code while using Paytm. This is the best part about Paytm as you end up saving a lot of
money while using Paytm.

▪ No Need to Carry Change – You don’t have to carry change to shops and there is
no problem about finding change if you need to make the payment via Paytm. This has
ended the never-ending struggle of finding change.

▪ Connect to Uber, Zomato and Other Apps – Paytm can be connected to different apps
like Uber and Zomato and this makes it easy to make the payment for Cab Rides or Food
that you order. There are many other apps which support Paytm. You have looked at the
advantages of Paytm and let us now look at the other side of the coin.

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 1.6 DISADVANTAGE OF PAYTM

• High Transaction Charge

The transaction charges with Paytm are quite high if you wish to transfer Money in your
bank account. The transfer charges for that matter is 4% and this means that you end up
paying Rs 400 for transferring Rs 10,000 to the bank. This should certainly be reduced.

• KYC Required

It is required to register KYC for unlocking the full capabilities of Paytm. It is not possible
to transfer money to a bank without using Paytm and not everyone likes to register KYC.

• Prone to Frauds

Paytm is also prone to digital frauds and hence one needs to be very careful while dealing
with unknown phone calls. You should never share OTPs and Passwords with anyone as
it makes you prone to fraud.

• High Charges on Gold

Paytm has made it easy to purchase digital code but there is a price difference between the
daily rate and the price that Paytm charge. Moreover, Paytm may ask you to pay making
charges to convert it into physical gold.

• Customer Service

The Customer service of Paytm is actually non-existent. It takes at least 7 days for them
to revert back to a simple query. This is the biggest disadvantage of Paytm and it is also a
factor which people hate about Paytm.

• Phone is a Risk

If you lose your phone then you are at risk of losing money as well. If you do not have a
password on Phone then anyone can use your Paytm to transfer the balance.

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 1.7 ADVANTAGE OF GOOGLE PAY

▪ Faster Payments Online

Google Pay is partnered with a ton of online stores. These particular shops accept Google
Pay as payment for when customers purchase goods and services from them.

Since Google Pay offers transactions that are simple and hassle-free, paying online is fast
and can be done in a single click. Re-entering payment information is not needed because
using Google Pay will handle all of that.

▪ Google Pay Rewards

As you purchase various goods and services from partner stores, some shops offer
rewards and loyalty points. These can mostly be exchanged for items that you can
choose from in these particular partner stores.

To let you have a gist of the partner shops that offer rewards, here are a few of them:

• Best Buy
• Walgreens
• Panera
• Whole Foods Market
• Baskin Robbins
• McDonald’s
• Jamba Juice
• White Castle
• Chevron
• Texaco

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▪ Google Pay to Other Virtual Wallet Apps Transactions

▪ PayPal, Samsung Pay, etc.

▪ Google Pay provides user-to-user transactions, but that is not the only thing it can do.
GPay also lets users transact with other virtual wallet apps such as PayPal, Samsung
Pay, and Venmo.

▪ Google Pay to Bank Transactions

Sending money to a bank account can quickly and easily be done with this app. You can
even receive money from any bank accounts. So bank transfers are no problem when
using GPay.

Also, you can connect personal bank accounts with your GPay account. By doing this,
you can use your debit or credit cards in online transactions in a much secure and safer
way. Now, if you want to know the bank accounts you can link and transact with, then
here is a short list

• Bank of America
• HSBC
• Citi Bank
• Bank of Scotland
• PNC
• Halifax
• First Direct
• TD Bank

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 1.8 DISADVANTAGE OF GOOGLE PAY

By recommending this app, we also have to be honest. That is why we also want to
inform you of the disadvantages you might encounter as you use Google Pay. So, here are
the disadvantages we have found.

1. All Transactions are tied to your Smartphone

Paying at a store using Google Pay

Since Google Pay is an app that lets you have the use of debit and credit cards, you cannot
use it if you do not have your phone in your hands.

This may seem like a small disadvantage, but what if there is a time that you left your
phone? What if your phone’s battery is drained? There would be no way for you to access GPay
to settle any of your bills.

2. Limited to Certain Countries

GPay is offered and can be used in a lot of countries, but that does not erase the fact that it
cannot be used in lots of countries. So, all of the advantages it offers does not mean anything if
it cannot be used in the country you reside in.

Also, if you are planning to travel, it is not advised to use rely on this app. This is
because GPay might not be supported in the country you are planning to go to.

3. Limited Shops Accept Google Pay

We have got to admit: GPay is not accepted in every store. This is quite a problem if your reason
for using GPay is to not bring any physical cash or cards. In line with this, you are only limited
to go to shops that accept GPay. Another problem arises if the physical stores you go to suddenly
inform you in check out that their Google Pay payment is down.

So, we highly suggest that you do not solely depend on Google Pay when you go out to shop.

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 1.9 FEATURES OF PAYTM

• You can make payment to merchants through their mobile number, scanning QR code or
using the E-commerce platform of Paytm.

• You can send and receive money 24X7.

• You can recharge your Paytm wallet through credit card, net banking and UPI ID as well.

• Through Paytm app, you can easily do various transactions like mobile recharge, DHTV
recharge, bill payment of utilizes like electricity and water.

• You can make investments in SIP through Paytm.

• You can also buy movie tickets along with booking train and flight tickets as well.

• It also offers e-commerce platform, from which you can buy various products as per your
need.

• Paytm also offers various games for your entertainment as well. Some of them give you
the chance to earn as well.

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 1.10 FEATURES OF GOOGLE PAY

• The transactions are instant and free of cost.

• Money can be sent to and received directly from bank accounts.

• You can also transfer funds to non-Google pay users.

• Google pay protects your personal information and money from frauds with its multi-
layered security and support specialists on call 24*7, facilitating highly transactions.

• Because the money is transferred from bank accounts, all transactions whether small or big
can be done through the UPI linked app.

• The app is available in eight Indian languages, making it more universal.

• Scratch cards are another attraction as GOOGLE PAY provides lucrative cashbacks and
offers on varying transactions. These cashbacks are directly credited to a kinks bank
account.

• The compatibility of the app with all the banks is further proof of its security, network-
reach and service quality.

• It can be used to pay utility bills, mobile recharge, online shopping, insurance premium tax
and more.

• Google pay has aslo tied up with HDFC bank, Kotak bank, ICICI bank to offer loans on
the app.

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 1.11 STEPS TO CREATE PAYTM ACCOUNT

First of all, download the Paytm application from the Google play store. When the installation is
done, Paytm will ask permission to access photos, media, and files on your device.

Click to allow to give full permission to Paytm.

Now follow the given below step to create a Paytm account.

STEP 1: If you have already created a Paytm account then you would need to click “Login to
Paytm”. If you want to create a new account then click “Create a New Account”.

STEP 2: Enter your permanent mobile number and then click “Proceed Securely”. After that,
you will receive an OTP to verify your number.

STEP 3: Enter your OTP and click “Proceed Securely”. Then Paytm will verify and will ask
permission to “allow Paytm to make and manage phone calls?”.

STEP 4: Click the” Allow” button. Now you have successfully created your Paytm
account. Congratulations!!

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 1.12 STEPS TO CREATE GOOGLE PAY ACCOUNT

In order to open a Google Pay account, you will need a bank account and your current mobile
number should be linked to that account. One should also have an ATM or Debit card. Now, if
you have these, then follow the below steps to create a Google Pay account.

Step 1: Download the Google Pay app from Play Store. Open the downloaded app and select your
preferred language.

Step 2: You then need to enter your mobile phone number, which is registered with the bank
account that you will be linking to Google Pay. Tap on the “Next” button and the app will
automatically detect and show your email id. You then need to click on ‘Continue.’

Step 3: You will then receive a one-time password (OTP) on the phone number you entered on
the previous page. Just enter it to complete the verification process of your phone number.

Step 4: Now, you will be required to choose between ‘Screen Lock’ or ‘Use Google Pin.’ Select
your desired option and click on the ‘Continue’ button. After that, you need to set up your Google
screen lock or pin. Once done, your Google Pay will be ready.

But, this doesn’t mean that you can now send or receive money as you now need to add your bank
account details.

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 1.13 TERMS AND CONDITION OF PAYTM

▪ The Paytm Services are not available to persons under the age of 18 or to anyone previously
suspended or removed by Paytm from availing the Paytm Services or accessing the Paytm
Platform.

▪ By accepting the T&Cs or by otherwise using the Paytm Services on the Paytm Platform,
You represent that You are at least 18 years of age and have not been previously suspended
or removed by Paytm, or disqualified for any other reason, from availing the Paytm
Services or using the Paytm Platform.

▪ You represent and warrant that you have the right, authority and capacity to enter into this
Agreement and to abide by all the T&Cs as part of this Agreement. Finally, you shall not
impersonate any person or entity, or falsely state or otherwise misrepresent your identity,
age or affiliation with any person or entity.

▪ In the event of any violation of the T&Cs, Paytm reserves the right to suspend or
permanently prevent you from availing Paytm Services or using the Paytm Platform.

▪ Paytm shall not be liable to pay any refunds whatsoever in cases where the airline closes
its operations or declares itself as insolvent or has been declared as insolvent in any legal
proceedings.

▪ The customers or clients or agents shall not hold Paytm liable to pay the refunds as assured
at the time of booking of ticket in cases where the airline closes its operation or declares
itself as insolvent or has been declared as insolvent in any legal proceedings.

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 1.14 TERMS AND CONDITION OF GOOGLE PAY

▪ To use Google Pay you must be 16 years of age or older. If you are 16 or older but under
18 years of age (or the legal age of your country, if greater), you must have your parent or
legal guardian's permission to use Google Pay and to accept the Terms. In order to use
the Google Pay app, you must be 18+.

▪ As per territorial restrictions to use Google Pay, you will need to be physically located in
India when registering or linking your Google Account on Google Pay, have an Indian
bank account and an Indian mobile number. The Google Pay App should not be used
outside of India.

▪ You are capable of entering into a legally binding agreement.

▪ You are not barred or otherwise legally prohibited from accessing or using Google Pay
under the laws of India.

▪ You will need a mobile, internet or any other supported device that meets certain system
and compatibility requirements, which may change from time to time to use Google Pay.
Your ability to use Google Pay and the performance of Google Pay App may be affected
by these factors.

▪ You agree that you are responsible for such requirements, including any applicable
changes, updates, fees and all other terms provided under your agreement with your
mobile device and telecommunications provider. Google will not be responsible for any
lapse of security or failed Transactions due to your internet or Device service provider.

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 1.15 SERVICES PROVIDED BY PAYTM

Electricity Bill Payment -Paytm started with a couple of Electricity boards for payment of
electricity bills, but the service has now been expanded to 17 Electricity boards across North
India. The following electricity boards are currently supported for Electricity bill payments on
Paytm are:

Gas Bill Payment-You can also make your Gas bill payments using Paytm. The following gas
operators are supported currently.

Metro Card Recharge- If you use the Delhi Metro or Mumbai Metro, you can avoid waiting in
lines to recharge your metro card. At the moment, Paytm supports recharge of Delhi Metro and
Mumbai Metro cards.

School and College Fees- Paying your School and College fees just got a whole lot easier with
Paytm. You can make your school and college fees payments via Paytm in a matter of a few
seconds. There are dozens of schools and colleges that work with Paytm

Insurance-Making your insurance payments is now as easy as recharging your mobile. Paytm
has been expanding the types of services it provides and right now, it supports the following
insurers.

Water Bill Payment- Other than mobile recharges and utility and education payments, Paytm
has added support for Water Bills too. Right now, the only water board that supports Paytm is
Delhi Jal Board, but expect other boards to be supported soon too.

Indian Railways -While the IRCTC website has gotten way, way better than before, making a
payment can sometimes be a bothersome exercise. However, with Paytm being added as one of
the supported payment options, you can go ahead and buy your railway tickets with the
Paytm trust.

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 1.16 SERVICES PROVIDED BY GOOGLE PAY

"Bill Payment Services" means the facility provided to Users on Google Pay to view bills
or pre-paid plans and make payments to Billers and receive other ancillary services.

“Credit Card” means any credit card offered by a Credit Institution to you as per your
agreement with the Credit Institution.

“Credit Card Services” means the Google Pay Services for application and management of
Credit Cards, and related offers and services offered by Credit Institutions to You.

"Credit Institutions" means banks, non-banking financial institutions and other

credit providers that have the requisite permissions from the applicable regulatory
authorities to provide advances and loans to users.

"Funding Account" means a credit card, bank account (through debit card or net
banking), BHIM UPI account or pre-paid payment instrument (such as cash card or e-wallet)
that is registered or used by the User to fund Payment Transactions.

"GAP" shall mean the Gold Accumulation Plan provided by MMTC.

"Gold Account" means an account on Google Pay which has been linked to the GAP.

"Loan Facility" means the loans and advances offered by a Credit Institution to you as per
your agreement with the Credit Institution.

"Loan Facility Services" means the Google Pay Services for facilitation of Loan Facility
from Credit Institutions to You.

"Merchant" means a person or entity who/which (i) avails the Google Pay for Business
Program; or (ii) provides Google Pay as a payment option to its customers through a Payment
Participant; or (iii) uses Google Pay to collect payments from its customers for goods and
services purchased from a merchant either offline or through any online platforms.

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 1.17 STATEMENT OF PROBLEM IN PAYTM

Carriers Obviously Don’t Like It

Google has a major problem on its hands if carriers don’t like Google Wallet. A key component
in the search giant’s plan is getting carriers to sign on. However, many of them already have
their own mobile payment systems, including Verizon Wireless, AT&T and T Mobile, which
have Isis. As long as carriers don’t like Google Wallet-and try to block it-the service will be in
trouble.

Consumer Knowledge Is Low

Looking around the consumer market, it’s hard to find many people who truly understand how
near-field communication and Google Wallet work. That’s a major issue for Google. If the search
giant can’t make consumers believe using Google Wallet to make payments is a good idea, what
chance will its service have of ever getting off the ground?

Remember the Average Consumer

As noted, consumers really don’t know much about Google Wallet. And since there are
few devices and credit card companies that support it, they probably don’t care. The onus is
on Google to start marketing its service far more effectively and make consumers want to at least
try it out. Marketing is central to Google Wallet’s future success.

Where Are All the Devices?

Google has promised that all future Android handsets will ship with near-field communication
technology. However, what the company hasn’t said is that there are hardly any devices in the
offing that people actually want that will come with support for Google Wallet. Combine that with
limited carrier support, and Google Wallet might have some rough days ahead.

Strike Better Deals With Merchants

Google Wallet has partnerships with a host of major companies, including Macy’s, CVS and
Walgreens. But for Google Wallet to be successful, the search giant must bring the service to local

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merchants as well. Ubiquity is central to Google Wallet’s success. And it’s about time the search
giant realizes that.

Everyone Has an Ulterior Motive

As noted, Verizon has Isis, a solution that competes with Google Wallet. But it’s not just
the carrier. Credit card companies, competitors and, in some cases, even service providers are
reportedly considering launching a Google Wallet alternative. Next year might be the year
of mobile payment applications. For Google, a company with a service that relies upon
strong relations with other firms, that is bad news.

Get All Credit Card Companies into the Fold

Google currently has a deal in place with MasterCard PayPass for its Wallet service. But for the
offering to get off the ground, it needs to have many more agreements in place with credit card
companies. Whether or not they will agree to those deals, of course, remains to be seen. But
Google needs to try if it wants Wallet to be successful.

The Longer It Takes, the Worse It Is

Google Wallet’s opportunity for success is on the clock. Reports have been circling about Apple
considering launching a Google Wallet competitor in 2012. If that’s the case, Apple is expected
to use the data it already has in iTunes to make it easier for users to adopt its service. An Apple
mobile payment solution could be the death knell for Google Wallet. So the search giant needs
to get its service into the mainstream sooner rather than later. The longer it takes for Google
Wallet to win out, the worse it will be for Google.

Make Security a Top Topic

Security is a major concern among mobile payment solutions. Whether or not it’s justified is
another story. But who cares? If Google can make the point that its offering is the “secure” source
for mobile payment solutions, it can go a long way in establishing Wallet’s position in that market.
Security could very well be Google’s Trojan horse.

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 1.18 STATEMENT OF PROBLEM IN GOOGLE PAY

Low Internet Bandwidth

No matter how advanced your virtual presence is, low internet bandwidth can be a major issue
especially, if you use an integrated payment gateway without considering low internet speed
in many areas across the country. Due to low internet bandwidth, the payment process can fail
due to non-responsive servers. In many cases, slow internet results in the deduction of payment
from the customer, but it does not reach the merchant.

How to overcome the low internet bandwidth issue?

The first thing you need to make sure is that your website, mobile app, and the payment gateway
you are using can work seamlessly on slow internet. It is always better to have a ‘lite’ version
of the website or app to ensure the connection uses lesser bandwidth. The idea should be once
the customer clicks on the payment link, it should not take more than a few seconds to complete
the payment process. Prefer to use a payment gateway like Paytm Payment Gateway that is easy
to integrate into the app or website so that the user does not redirect to the payment gateway
page. It will reduce the steps involved in purchasing and will help in countering the problem of
slow internet.

Card Data Security

Online fraud and card payments related fraud are common in India, but since Covid-19
knocked the doors, the number of such cases increased exponentially. It is essential for e
commerce merchants to use a secure payment system with the least possibility of any
data leak.

How to overcome data security issues?

The best way to ensure card data security is by using a payment gateway that has
PCI Compliance. PCI is a set of regulations that all payment gateways have to follow to handle
card payments. It encrypts the data and changes it into a series of random characters
and numbers before it reaches your server. It means that you won’t be handling any personal

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or payment information yourself. The encrypted data is commonly known as a token, and it
will be valid for a short period, making it challenging to crack. Getting PCI compliance on
your payment system is expensive. Thus using an integrated system like Paytm
Payment Gateway will be a wise and affordable choice.

Technical Integration
When it comes to e-commerce, a business cannot run the website without a payment gateway
integrated store. It helps in processing the online transactions from your website to your bank
securely. Choosing the right payment gateway can be a challenging task. There are
several aspects of the payment system that you have to think about. If the payment system
supports multiple payment methods, then does it or does it not accept international payments,
or is it PCI compliant or not among several others.

How to ensure payment gateway technical integration is correct?

Service providers like Paytm Payment Gateway have a dedicated team of technicians to provide
support to developers and business owners for smooth integration of the payment gateway in
their app and website. This team helps in deploying the integrations seamlessly. Thus it is
essential to check with the service provider if they provide such support. Make sure to follow
the instructions they provide for smooth integration.

International transaction

The internet has expanded the market even for small businesses. The merchant now has the
benefit of dealing with international clients, thanks to advanced payment gateways such a Paytm
payment gateway. When we compare the local transactions with International transactions, it can
be slow and expensive. There are several aspects that the payment gateway should cover, such as
banking norms, currency exchange, security, and so on.

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 1.19 IMPACT OF DEMONETIZATION

When the Prime Minister announced the banning of rs 500 and rs 1000 notes on November 8,
2016, there were bound to be far-reaching consequences. People across the country lined up at
bank branches to return the notes with these denominations. Many faced a severe liquidity crunch
for a prolonged period. Some even reportedly died standing in queues trying to withdraw the
allowed quota of money from ATMs.

Among the outcomes envisaged by the government with the demonetization move
were reducing or eliminating the quantum of black (unaccounted) money in the country
and making it a less-cash and digital-payments-driven economy. A host of other outcomes
were expected from the note-ban move. The jury is still out on whether demonetization helped
the economy reboot itself or pushed it to a dire state.

There are critics and supporters with equally vociferous arguments. Be that as it may,
one aspect on which the note-ban move did have a positive impact was the thrust in
digital payments. But it is also equally true that cash levels in the economy have risen
considerably from the pre-demo days.

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Here is a take on how digital payments and cash together have made joint inroads in
the economy.
✓ Digital payments penetrate deep.

For Sheetal Kawali, 58, working with an NGO and residing in Pune, survival with limited cash
in hand was challenging in the days after demonetization. This was because,
before demonetization, a major part of her transactions (buying groceries, vegetables, etc.) was
done only in cash like several other consumers in the country. In the first month
after demonetization, she had to keep the balance outstanding (unpaid) with the local grocery
shop, vegetable vendors, etc. Then she learnt how to make digital payments from her children
and started using debit cards for big-ticket expenses, mobile wallets to shop for monthly
groceries and pay utility bills, net banking to transfer money to other persons, etc. Kawali says,
“Using digital methods for payments started as a compulsion after demonetization, but now it
has become a habit that’s difficult to let go.”

Like Kawali, most urban consumers today prefer digital payments for a wide spectrum of uses
and have given up on that constant of the past, cash. Kunal Bajaj, Head-Corporate Development
and Investor Relations at MobiKwik, says, “Fintech innovation has facilitated faster acceptance
in not only Tier-1 cities, but also in rural regions with low literacy, leading to growth in digital
transactions post demonetization.”

Digital payments, in general, have picked up, aided by large technology companies entering
the fray. There has been solid growth in the volume and value of mobile wallet transactions in
the last three years. According to the RBI, in FY19, mobile wallet transactions (in
volume terms) stood at 414.2 crore, nearly six times more than the FY16 figure of 60.4 crore.
In value terms, in FY19, it stood at Rs 1.83 lakh crore, nearly nine times higher than the
FY16 figure.

Mobile payment applications such as Google Pay, PhonePe and Bharat Interface for
Money (BHIM) using the unified payments interface (UPI) are also becoming popular among

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consumers. Transactions through UPI in value terms were at an all-time high in October 2019.
It crossed Rs 1.91 lakh crore.

✓ Using multiple mobile wallets.

With many companies offering mobile wallets and UPI payment applications, many people tend
to use multiple apps for monetary transactions. Lovaii Navlakhi, Managing Director and CEO,
International Money Matters says, “The move to digital post demonetization had increased
spending among my clients since they started using multiple mobile wallets for various
transactions. They then struggled to keep an account of spending and the amount to load in each
of these wallets.”

For instance, Mumbai-based marketing executive Komal Kalantri, 29, was using four mobile
wallets after demonetization. She got addicted to the use of mobile wallets to pay and
earn cashback amounts from merchants. So, at the start of the month she would load Rs 5,000
to 7,000 in each of the mobile wallets.

Says Kalantri, “I was using the digital mode of payments haphazardly without keeping
an account on my spending. There have been occurrences several times in the past, wherein
my monthly savings have been blocked in mobile wallets and not earning interest income on
that amount.”

✓ Privacy concerns and threat of frauds rising.

Digital payments have benefitted the average consumer, but privacy concerns have caught up as
well. Sunil Khosla, Head Digital business, India Transact Services Limited says, “Cyber frauds
such as phishing, social engineering, SIM cloning, etc. leading to identity theft and data privacy
concerns have become hurdles to the universal usage of these services.”

On UPI apps, fraudsters are taking advantage of the ‘request money’ option. Imposters show
interest in buying a product advertised on various online platforms and engage with the seller on

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 a phone call. They make the seller of the product to transfer the money using UPI apps ‘request
money’ option. There have been numerous instances of such frauds in the last one year.

To secure oneself from such fraudulent transaction Ambarish Kenghe, Senior Director - Product
Management at Google Pay, says, “Users need to be mindful that a transaction which requires
them to enter their PIN, is for sending money. Remember, receiving money requires no PIN. If
you receive a payment request from someone whom you don’t know or cannot immediately
identify, then you should immediately decline the request.”

✓ Cash still rules.

In a massive country such as ours, cash continues to be a preferred mode of payment. According
to the annual report of the Reserve Bank of India (RBI) for financial year ended 2018-19, the
amount of currency in circulation rose to Rs 21.1 lakh crore as on FY19 from Rs 17.9 lakh crore
on November 4, 2016, a week before the note ban came into force. This represents an 18 per cent
growth in cash circulation in the economy since demonetization. “This data shows cash is back in
the system. As 95 per cent of Indian retail expenditure is offline and unorganized, most people
generally deal in cash payments,” says Anush Raghavan, Vice President – Cash Management,
CMS Info Systems Ltd.

✓ Key learnings while using digital payment modes.

After the increased usage of digital modes of payment post-demonetization, there are
precautions to be taken. Kawali says, “It has taught to change the passwords of net banking and
mobile wallets regularly to keep them secure from fraudsters.” Also, she now uses only one
mobile wallet and analyses her spending pattern at end of the month. She now limits the amount
that would be loaded and controls her expenditure.
Farrhad Acidwalla, Founder of Cybernetiv Digital advises, “Always use an updated version of
digital payment app and do not install unauthorized money transfer apps because they can make
your mobile device more vulnerable to malware and cyber-attacks.”

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CHAPTER 2- RESEARCH METHEDOLOGY

2.1 INTRODUCTION TO RESEARCH DESIGN

2.2 SOURCES OF DATA

2.3 OBJECTIVE OF STUDY

2.4 HYPOTHESIS

2.5 SCOPE OF SYUDY

2.6 LIMITATION OF STUDY

2.7 SIGNIFICANCE OF STUDY

2.8 SELECTION OF PROBLEM

2.9 SAMPLE SIZE

2.10 DATA COLLECTION TECHNIQUE

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 2.1 INTRODUCTION TO RESEARCH DESIGN

A research design is a basic plan which guides the researcher in the collection and analysis of
data required for practicing the research. In fact the research design is the conceptual structure
which the research is conducted. It constitutes the ‘Blue Print’ for the collection, measurement
and analysis of the data. The study is carried out to understand the comparative study between
Paytm and Google pay. For this study the researcher used exploratory research design. This
research covers 100 consumers, belonging to various age groups.

2.2 SOURCES OF DATA

After identifying and defining the research problem and determining specific Information
required to solve the problem the researcher will look for the type and sources of data which may
yield the desired results, while deciding about the method of data collection to be used for the
study, there deciding about the method of data collection to be used for the study, there are two
types of data.

They are as follows

• PRIMARY DATA:

Primary data are those which are collected for the first time. Primary data is collected by framing
questionnaires. The questionnaire contained questions which are both open-ended and closed-
ended. Open-ended questions are questions requiring answers in the responders own words.
Closed-ended questions are those wherein the respondent has to merely check the appropriate
answer from a list of options available. Any doubts raised by the Respondents were clarified to
get the perfect answers from the distributors. Open-ended questions yielded more insightful
information, whereas closed- Ended questions were relatively simple to tabulate and analyze.

• SECONDARY DATA:

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Secondary data means data that are already available i.e. they refer to the data which have been
collected and analyzed by someone and can save both money and time of the researcher. Secondary
data may be available in the form of company records, trade publications, libraries etc. Secondary
data sources are as follows:
♦ Company Reports

♦ Daily Newspaper

♦ Standard Textbook

♦ Various Websites

2.3 OBJECTIVE OF STUDY

✓ To study the acceptance level of Paytm in India as an alternative to

the cash transactions.

✓ To study the flexible services offered by the Paytm.

✓ To study the opinion among working youth in adopting Paytm as a solution to

the Indian Demonetization.

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

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

✓ To understand the concept of Google pay.

✓ To analyze the consumer perception towards Google pay

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✓ To find out the awareness and preferences of the users towards Google pay service
providers.

2.4 HYPOTHESIS

▪ Ho = Customers have a negative attitude towards Paytm.

H1 = Customers have a positive attitude towards Google pay.

▪ Ho = Customers are not satisfied with the terms and condition of Paytm.
H1 = Customers are satisfied with the terms and condition of Google pay.

▪ Ho = Customers are not satisfied with the service of the Paytm.

H1 = Customers are satisfied with the service of Google pay.

▪ Ho = Customers do not consider it safe to use Paytm.

H1 = Customers consider it safe to use Google pay.

2.5 SCOPE OF STUDY

o The scope of study is limited to the convenient samples.

o This study is conducted in Mulund City.

o It aims at understanding awareness level and customer perception with respect to Paytm
and Google pay.
o This study mainly focuses on the customers views on Paytm and Google pay or we can say
on digital payments.
o Study also concern to find out the factors which affect the decisions of customers while
using Paytm and Google pay.

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 2.6 LIMITATION OF STUDY

➢ My project is restricted upto 3 month time period.

➢ My project is only upto Mulund city.

➢ The data collected was from a small group of respondents that is 102 respondents.

➢ The data was collected by random sampling method therefore no particular group or
section was selected.

➢ The Primary data will be collected from the customers hence the Validity of data will
be limited to their own belief.

➢ Time constraint was also a major limitation.

2.7 SIGNIFICANCE OF STUDY

• Provide an understanding and importance of net banking apps we use in day-to-day life.

• Demonstrate the pros and cons, collective information and basic srvices they provide of both
Google pay and Paytm which will ultimately help the customers to choose the best option
available.

• Help the customers to awareness and the crucial role its play in day to day life.

2.8 SELECTION OF PROBLEM

• The purpose to select this topic is that the general public are often confused and not
aware of perfect use of this UPI apps.

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• Google pay & Paytm is formed for the people to make easy and faster, less time consuming
and safer transactions.

• The another purpose is to make people aware about its use and services.

• To know from the customers itself which amongst both is convenient to use.

2.9 SAMPLE SIZE

The sample size was 102 customers of different views and selections.

2.10 DATA COLLECTION TECHNIQUE

A well-structured questionnaire was prepared and personal interviews were conducted to collect
the customer’s awareness and buying behavior, through this questionnaire. The sample size was

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restricted to only 102, which comprised of mainly people from regions of Thane and Mulund city
due to time constraints. The CONVINIENT SAMPLING method have been used.

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 CHAPTER 3- LITERATURE RIVIEW

PAYTM

Rajesh Krishna Balan, Narayan Ramasubbu, Giri Kumar Tayi studied in their
paper “Digital Wallet: Requirements and Challenges” (2006) that the requirements and
challenges of deploying a nationwide digital wallet solution in Singapore. Further they discussed
why Singapore is ready for a digital wallet and identify the key challenges in building
and deploying a digital wallet. Then discussed one of the key challenges, supporting peer -to-
peer cash transactions between individuals using a digital wallet, in more detail and end the
paper with their proposed solution.

Prof Trilok Nath Shukla in his paper “Mobile Wallet: Present and the Future” (June 2016)
has discussed about mobile wallet, working, types and its advantages and disadvantages.
His analysis included perception of consumers and retailers about mobile wallets. He
concluded that mobile wallets will be used to engage with the customer by the marketers and
digital businesses. Irrespective of the market status of these mobile wallets, marketers should
take advantage of the emerging opportunities.

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

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

ThaeMin Lee in his paper “The impact of perceptions of interactivity on customer trust
and transaction intentions in mobile commerce” (2005) investigated the impact of perceptions
of interactivity on consumer trust and transactions in mobile commerce and concluded that
trust does in fact play a significant role in determining consumer transaction intentions. Hsin-
Hui Lin and Yi-Shun Wang in their paper “An examination of the determinants of
customer loyalty in mobile commerce contexts” (2005) examined the factors that contributed
to customer loyalty in mobile commerce; perceived value and trust were found to be
directly related to customer satisfaction and customer loyalty; customer satisfaction was also
suggested to positively affect customer loyalty; and habit was proposed to determine customer
loyalty. They also found that customer loyalty was directly affected by perceived value, trust,
habit, and customer satisfaction. Customer loyalty was evaluated to be a strong determining
factor in acceptance of mobile commerce.

Key Pousttchi and Dietmar G. Wiedemann in their paper “What Influences

Consumers’ Intention to Use Mobile Payments?” (2008) studied the adoption of mobile
payments and evaluated what key influences affected consumers to use mobile payments and
found that subjective security was not a primary driver of mobile payment acceptance. They
found that perceived confidentiality of payment details and perceived trustworthiness were
strongly correlated. Four key variables were found to directly impacting consumer intention and

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usage behavior: performance expectancy, effort expectancy, social influence, and facilitating
conditions.

Vijay Shekhar Sharma. (Paytm founder) Oct 23, 2018 China’s Alibaba and
Japan’s SoftBank-backed Paytm Mall is stepping up focus on categories like grocery and
fashion, which can increase repeat customer transactions as it looks to compete with Walmart-
backed Flipkart and Amazon India, which control over 80% of the online retail market. Paytm
Mall wants to differentiate itself, with online to offline (O2O) push to deliver 50% of the orders
in 24 hours from 33% right now.

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

GOOGLE PAY

Doan (2014) he conducted a study to understand consumer adoption on mobile wallets in

Finland area. This research was designed in a quantitative method using questionnaire
which was sent to potential respondents in Finland. The study measures the market condition
of mobile wallets users. The study findings reveal that the usage of mobile wallet is only in the
initial stage and respondents are showing positive attitudes towards usage of mobile
wallets. Research concluded that the trust factor reveal the positive or negative impact on
adoption of user, depending on the user satisfaction and user’s situation.

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Govender & Sihlali (2014) they explored the factors determine the adoption of mobile banking
(m-banking) services among students who are more technically knowledgeable.
The questionnaire is prepared based on the qualitative approach. Based on the extension of
the Technology Acceptance Model, the theoretical framework is developed to investigate
the factors that determine student’s acceptance of mobile banking. The constructs of TAM for
mobile adoption such as Perceived Ease of Use, Perceived usefulness, Perceived Value, Trust
Intention to Use, and Usage Behavior were used. The statistical tool multiple regression analysis
was used to examine the influence of independent variables on the dependent variable of
intention to use m-banking. The independent variables trust, perceived value, perceived ease of
use and social influence may account for 42percent on the influence of dependent variable.

Cabanillas et.al., (2015) they have developed a model to examine user’s intention to use mobile
payment based on TAM and MPTAM (Mobile Payments Technology Acceptance Model). The
study was investigated the moderator effect of the user’s age between the subjective rules and
the facility of use. The survey has been conducted among the 2012 national panel of internet user
(physical & virtual). The analysis of data shows that an internet user’s behavior is influenced by
their intention to use new tools. The study findings show that most of the younger mobile
payment users are satisfied and accepted the mobile technology tools when compared to older
mobile users. This study has indicated that older consumers are the stronger relationship between
facility to use and subjective rules. So the mobile technology provider should give more attention
to older consumers to create knowledge about usable of new tools.

Meuthia (2015) the study has been investigated that empirically the experiences of users’
satisfaction on e-money adoption in Indonesia. In this study the trust was considered as an
important factor for e-money adopt, and at the time of promotes the system quality and
participation. The data was collected from 117 e-money respondents in Indonesia. The result
shows that users’ satisfaction is determined based on system quality and participation of users.
The research proposed that trust factors have high level followed by the others stimulants
variables. The study concluded that trust and distrust were strongly influenced the level of users’
satisfaction on e-money adoption in Indonesia.

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Liu & Tai (2016) they have conducted a study in Vietnam to analyze the factors influencing
the consumer’s intention to use mobile payment services. The variables considered for
the study to determine consumer’s intention to use of mobile payment services are
mobility, mobile payment knowledge, convenience, compatibility, ease of use, usefulness, risk,
trust, and safety. The two variables namely perceived ease to use and perceived usefulness
was extracted from the TAM model which was deemed as a suitable model to study consumers’
response and behaviors when a new product is introduced. The data has been collected from 604
respondents. The result shows that among the four external variables compatibility has a strong
influence on ease of use and perceived usefulness is found to be a positive impact on the
intention to use M-payment. The study highlighted that trust and safety have no direct impact
on usefulness but it has a direct impact on the intention to use mobile payment. The study
concluded that in Vietnam young people have greater intention to use mobile payment services
when compared to older people and most of the consumers are not giving much importance to
risk.

Singh & Gupta (2016) They have conducted a study to identify various factors influence on the
adoption of mobile wallet payment among customers They considered the various variables for
the study are Convenience, Trust, Security, and Adaptability which have an impact on the
satisfaction of mobile wallet usage. The study was conducted in the Kurali city, District of
Punjab. Pearson's Correlation Analysis was to investigate the relationship between the different
basic variables of the study. The study findings show that mobile wallets are considered as the
futures of cash.

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 CHAPTER 4- DATA ANALYSIS, INTERPRETATION &
PRESENTATION.

• Interpretation

From the above chart is cleared that 21.6% of the respondent are of 10-20 years, 62.7% of the
respondent are of 20-30 years.

• Conclusion

As we can see from about pie chart, majority of age group from 20-30 are showing more interest
in digital payments or mode.

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 • Interpretation

From above chart it is clearly shown that 27.5% are students, 28.4% of people are graduate and
34.3% are under graduate.

• Conclusion

Hence, majority of the respondent are under graduate who are using digital payment.

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 • Interpretation

From above chart it is shown that 52.9% respondents are student, 30.4% respondents are doing
service and 9.8% are professionals.

• Conclusion

So, majority of the respondent are students who are using digital payment.

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 • Interpretation
From the above chart it is cleared that 53.9% are females and 46.1% are male respondents.

• Conclusion

Majority of respondent who are using digital payment are females.

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 • Interpretation

From the above chart it is cleared that 87.3% are using Google pay and 12.7% are using
PAYTM.

• Conclusion

Majority of respondent are using Google pay.

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 • Interpretation

From the above chart it is cleared that 93.1% respondents are saying yes & remaining are
saying no.

• Conclusion

Majority of respondent says that online payment is helpful for them in their day to day life.

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 • Interpretation
From the above chart it is cleared that 41.2% users use for money transfer, 37.3% users are
using for paying bills and 16.7% are using for mobile recharge.

• Conclusion

So, majority of respondent use online payment app for Money transfer.

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 • Interpretation

From the above chart it is cleared that 44.1% or maximum users says that it helps to easy
transfer of money, simplicity of process and saves time.

• Conclusion

So, majority of respondent says that payment app is convenient for all the online transaction.

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 • Interpretation

From the above chart it is cleared that 87.3% users use 1-5 times in a day and 8.8% users use
5-10 times in a day.

• Conclusion

So, majority of respondent says that payment app is used in day to day life commonly.

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 • Interpretation
From the above chart it is cleared that 42.2% keeps more than 1000 Rs in their digital app.
Even 28.4% keeps less than 500 and 29.4% keeps 500-1000.

• Conclusion

Majority of the respondent have loaded more than 1000 Rs in their digital payment wallet.

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 • Interpretation

From the above chart it is cleared that 22.5% of the respondents face obstacles while
using paytm/Google pay, 42.2% of the respondents didn't face any problems while
using paytm/Google pay, 35.3% of respondents says that maybe they have faced some
problems while using paytm/Google pay.

• Conclusion

Majority of the respondent did not faced any problem while using paytm/Google pay.

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 • Interpretation
From the above statement it is cleared that 78.4% of the respondent are agreed with
using digital payment, it promotes cashless payment to next level. While in other hand 17.6%
who think that it will not be helpful for next level to do cashless payment and remaining do
not agree with it.

• Conclusion

Majority of respondent are agreed for cashless payment to the next level.

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 • Interpretation

From the above chart it is cleared that 28.4% of respondent using Google pay will prefer to use
paytm, 46.1% of the respondent are not agree to this statement and 25.5% of the respondents
says that may be they will prefer to use paytm if they are using Google pay.

• Conclusion

Majority of respondent don't agree to use PAYTM if they are using GPAY.

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 • Interpretation

From the above chart it is cleared that 57.8% of the respondent who are using paytm will prefer
to use Google pay, 16.7% of the respondents are not satisfied to this statement and 25.5% of the
respondent says that may be they will prefer to use Google pay if they are using paytm.

• Conclusion

Majority of the respondent will prefer to use Google pay if they are using paytm.

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 • Interpretation

From the above chart it is cleared that 78.4% of the respondent says that from Google pay the
transaction is faster and 21.6% users says paytm.

• Conclusion

Majority of respondent says that from Google pay the transactions are faster.

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 • Interpretation

From the above chart it is cleared that 74.5% of the respondent says that they get better
rewards from Google pay and 25.5% says paytm.

• Conclusion

Majority of respondents gets better rewards from Google pay.

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 • Interpretation

From the above chart it is cleared that 82.4% respondents says that Google pay gives better
experience of payment and services and 17.6% says paytm.

• Conclusion

Majority of respondents gets better experience of payment from Google pay.

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 • Interpretation
From the above chart it is cleared that 62.7% respondents says that Google pay is better
than paytm, 12.7% disagrees to the statement and 24.5% respondents says maybe it is
better.

• Conclusion

So, majority of respondents says yes that Google pay is better than paytm.

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 • Interpretation

From the above chart it is cleared that 48% says paytm is not better than Google pay,
15.7% agrees with the statement and 36.3% says that maybe paytm is better than Google
pay.

• Conclusion

So, majority of respondents says paytm is not better than Google pay.

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Any other information or responses you would like to share about Google pay and PAYTM?

• Google pay takes way more time to resolve payment issue.

• Online payment are more comfortable and time consuming.

• Paytm has options to have seperate food wallet and Bank. This helps corporates to
provide food meals under separate Wallet.

• Gpay is good and save our time.

• Google pay attends every particular transaction thoroughly while paytm requires only
paytm barcode scanner (in some cases) so i prefer google pay over paytm.

• Save time by banking with Gpay.

• Google pay is an easy way of making payment online, solve server down issues.

• Google pay is more convenient to use.

• You can easily donate some money to the people who are really willing for food or
clothing through this platform.

• In paytm there is lots of rewards but wen i go for redeem thus rewards there is lot of
lenthy process.

• No there is no doubt about this both app many of them uses both the app so we can't
say that which is the best and which is the worst.

• In Paytm kyc is very hectic we don't have time compare to Gpay is very sufficient and
fast no more formality is there.

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• Sometimes get problem for payments. Like the payment is not done properly .Server's
is down any time of Google pay application.

• Well Google pay is the fastest and trustworthy as it is been protected even though
there are some problem but due to its quality of being used to any other app has been
useful While Paytm at first was an hectic process where in the balance needed to kept
in which most of the time.The wallet got empty without informing user of the charges
that are been deducted.

• Google is better than paytm.

• Google pay best

• In day to day life this cashless online payment are very helpful to the world.
• Credit to rent this good option in PAYTM.

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 CHAPTER 5- FINDINGS, SUGGESTIONS & CONCLUSIONS

5.1 FINDINGS

5.2 RECOMMENDATIONS & SUGESSIONS

5.3 CONCLUSION

5.4 BIBLIOGRAPHY

5.5 WEBLIOGRAPHY

5.6 ANNEXURE

5.6.1 QUESTINNAIRE

5.6.2 LIST OF TABLES

5.6.3 LIST OF GRAPHS

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 5.1 FINDINGS

▪ Most of the Respondents feels that digital payment is secure and easy way for online
transactions.

▪ 87.3% of the respondent are using Google pay and 12.7% of the respondent are
using Paytm.

▪ There are 53.9% of the respondents are female and only 46.1% of the respondents are male
according to survey.

▪ There are 41.2% of the respondent are using digital payment for transferring money.

▪ Most of the respondents are using digital payment because, it is easy to transfer the money
then it is also simplifies the process, it also saves time.

▪ There are 78.4% of respondents who are agreed with using digital payment and it will
promotes cashless payment to the next level.

▪ 82.4% of the respondent are satisfied with the Google pay service.

5.2 SUGGESTIONS

• Google pay users should never share their personal information like
PIN numbers, passwords etc, with anyone.

• PIN or password should not be stored, the PIN or passwords should

be changed frequently and memorized before destroying.

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 • Google pay users are advised not to provide sensitive account-
related information over unsecured e-mails or over the phone.

• The risk of technological changes has to be carefully analysed. This

is important to update technologies and remain cost effective and
customer friendly.

• From the researcher suggested that the respondents are satisfied by PayTm service.
But level of satisfaction is low in the following areas shopping, ticket booking,
transaction speed, grievance handling methods, service charges, mini statement
and minimum of Rs 20,000 per day. The researcher would like to request the
PayTm to probe in to the suggestions mentioned and take actions, if necessary for
the benefit of PayTm services.

5.3 CONCLUSION

From my survey, I conclude that digital payment had a large number of satisfied users until
now.

With the increased aggression of internet connectivity Google pay has led to an increase on the
number of Google pay users. Google pay is getting more and more trending among the
consumers. The convenience and ease of use as gained a credit to mobile wallet and it can be
concluded that there will be a tremendous growth in adoption of G-pay in the forthcoming
years.

87.3% of the respondents are using Google pay and 12.7% of the respondents are using.

Paytm supports their customers to transfer their payments with the usage of their mobile phones
in the easiest way. Paytm officers should frequently visit the customers and enquire about their
requirements and problems they face.

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Paytm has to increase its advertising in television media in order to increase the awareness to the
general public. Paytm services may also introduce some sales promotion activities, such as cash
discounts, reduce service charges and gift etc. It can be concluded that they will be a tremendous
growth in adoption of Paytm in the forthcoming years.

It is evident from the above analysis that most of the respondents are moving towards
cashless economy and using Paytm and Google pay for making digital payments. But
it should be accepted that one biggest problem in the working of digital economy in India
is cybercrime and unlawful access to crucial records. Hence, it’s essential to make strong
Internet Security from protection against online fraud. Still many people in India are
illiterate who live in rural villages.

For a better cashless system in India, Paytm and Google pay have to bring precision and
effectiveness in e-payment system, strategies used by Central Government and the
Central Bank to encourage cashless transactions by licensing payment banks, encouraging
mobile wallets and retreating service charge on cards and online payments. A fiscal literacy
campaign may be conducted periodically to prepare population aware of advantages of digital
banking.

5.4 BIBLIOGRAPHY

BOOKS AND AUTHORS NAME:

BOOKS AUTHORS

THE SMARTPHONE WALLET. DAVID SCHROPHER

THE DIGITAL BANKING REVOLUTION. LUIGI WEWEGE

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INTERNATIONAL JOURNAL TO E- THIRUPATI MANICKAM.
COMMERCE WALLET.

5.5 WEBLIOGRAPHY

✓ https://www.google.com/search?q=about+google+pay&oq=ABOUT+GOOGLE
+PAY&aqs=chrome.0.0i512l5j0i22i30l5.13848j0j7&sourceid=chrome&ie=UTF
-8
✓ http://www.ijaresm.com
✓ https://shodhganga.inflibnet.ac.in
✓ WWW.WIKIPEDIA.COM

✓ WWW.PAYTM.COM

✓ WWW.SLIDESHARE.COM

✓ WWW.RESEARCHGATE.NET

✓ WWW.IJRASET.COM

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 5.6 ANNEXURE

5.6.1 QUESTIONNAIRE

Name: __________

Email: _______________

Age:

• 10-20

• 20-30

• 30-45

• 45-55

• 55 & Above

Educational qualifications:

• Student

• Graduate

• Under Graduate

• Post Graduate

• Other

Profession of respondent:

• Student
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 • Business man

• Service

• Professional

• Housewife

Gender:

• Female

• Male

• Other

Which payment app do you use the most?

• Google pay

• PAYTM

Is Google pay and Paytm is helpful for you in your day to day life?

• Yes

• No

• Maybe

For which operations do you use this payment apps most?

• Paying bills

• Mobile recharge

• Money transfer
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 • Booking tickets

• Others

What are the main advantage for you?

• Easy transfer of money

• Simplicity of process

• Saves time

• All of above

How many times in a day you use google pay / paytm? (approximate)

• 1-5 times

• 5-10 times

• 10-15 times

• More than 15 times

What amount of money you keep loaded in your google pay or paytm? (approximate)

• Less than 500

• 500-1000

• More than 1000

Are there any obstacles when you use Google pay / paytm?

• Yes

• No

• Maybe
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Does using Google pay / paytm promotes cashless payment to next level?

• Yes

• No

• Maybe

If you are using Google pay will you prefer to use paytm?

• Yes

• No

• Maybe

If you are using paytm will you prefer to use Google pay?

• Yes

• No

• Maybe

From which payment app the services are faster you feel?

• Google pay

• PAYTM

In which payment app you get more reward / better rewards?

• Google pay

• PAYTM

Which payment app gives you better experience of payment and services?

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 • Google pay

• PAYTM

Do you think Google pay is better than Paytm?

• Yes

• No

• Maybe

Do you think Paytm is better than Google pay?

• Yes

• No

• Maybe

Any other information or responses you would like to share about Google pay and Paytm?

____________________________________.

5.6.2 LIST OF TABLES

SR. NAME OF TABLE Page

NO No.
1. AGE DIFFERENTIATION OF RESPONDENT
2. QUALIFICATION OF RESPONDENT
3. PROFESSION OF RESPONDENT
4. GENDER OF RESPONDENT

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5. WHICH PAYMENT APP DOES THE
RESPONDENT USES MORE GPAY OR PAYTM.
6. IS GPAY AND PAYTM IS USEFUL IN DAY-TO-
DAY LIFE TO RESPONDENT.
7. FOR WHICH OPERATIONS THE RESPONDENT
USES THIS PAYMENT APPS.
8. WHAT ARE THE MAIN ADVANTAGE FOR
RESPONDENT BY USING THIS APPS.
9. HOW MANY TIMES IN A DAY THE
RESPONDENT USES THIS APPS.
10. HOW MUCH AMOUT IS LOADED BY
RESPONDENT IN GPAY OR PAYTM.
11. ARE THERE ANY DIFFICULTY TO USE THIS
APPS TO RESPONDENT.
12. DOES THIS APPS HELPS RESPONDENT TO
NEXT LEVEL OF CASHLESS PAYMENTS.
13. IF RESPONDENT IS USING GOOGLE PAY
WOULD HE/SHE PREFER TO USE PAYTM OR
NOT.
14. IF RESPONDENT IS USING PAYTM WOULD
HE/SHE PREFER TO USE GOOGLE PAY OR NOT.

15. FOR WHICH PAYMENT APP THE RESPONDENT

FEELS THE SERVICES ARE FASTER?
16. IN WHICH PAYMENT APP THE RESPONDENT
GETS BETTER REWARDS.
17. AS PER RESPONDENT WHICH PAYMENT APP
GIVES BETTER EXPERIENCE OF PAYMENT
AND SERVICES.

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 18. GOOGLE PAY IS BETTER THAN PAYTM OR
NOT AS PER RESPONDENT.
19. PAYTM IS BETTER THAN GOOGLE PAY OR
NOT AS PER RESPONDENT.
20. ANY OTHER RESPONSES OR INFORMATION
RESPONDENT WANTS TO SHARE.

5.6.3 LIST OF GRAPHS

SR. NAME OF GRAPHS Page

NO No.
1. AGE DIFFERENTIATION OF RESPONDENT
2. QUALIFICATION OF RESPONDENT
3. PROFESSION OF RESPONDENT
4. GENDER OF RESPONDENT
5. WHICH PAYMENT APP DOES THE
RESPONDENT USES MORE GPAY OR PAYTM.
6. IS GPAY AND PAYTM IS USEFUL IN DAY-TO-
DAY LIFE TO RESPONDENT.
7. FOR WHICH OPERATIONS THE RESPONDENT
USES THIS PAYMENT APPS.
8. WHAT ARE THE MAIN ADVANTAGE FOR
RESPONDENT BY USING THIS APPS.
9. HOW MANY TIMES IN A DAY THE
RESPONDENT USES THIS APPS.
10. HOW MUCH AMOUT IS LOADED BY
RESPONDENT IN GPAY OR PAYTM.
11. ARE THERE ANY DIFFICULTY TO USE THIS
APPS TO RESPONDENT.

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12. DOES THIS APPS HELPS RESPONDENT TO
NEXT LEVEL OF CASHLESS PAYMENTS.
13. IF RESPONDENT IS USING GOOGLE PAY
WOULD HE/SHE PREFER TO USE PAYTM OR
NOT.
14. IF RESPONDENT IS USING PAYTM WOULD
HE/SHE PREFER TO USE GOOGLE PAY OR
NOT.
15. FOR WHICH PAYMENT APP THE
RESPONDENT FEELS THE SERVICES ARE
FASTER?
16. IN WHICH PAYMENT APP THE RESPONDENT
GETS BETTER REWARDS.
17. AS PER RESPONDENT WHICH PAYMENT APP
GIVES BETTER EXPERIENCE OF PAYMENT
AND SERVICES.
18. GOOGLE PAY IS BETTER THAN PAYTM OR
NOT AS PER RESPONDENT.

19. PAYTM IS BETTER THAN GOOGLE PAY OR

NOT AS PER RESPONDENT.

20. ANY OTHER RESPONSES OR INFORMATION

RESPONDENT WANTS TO SHARE.

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