Page 217 - ICDEBI2018

I International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456nternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101

wider market place to consumers on its mobile apps wider market place to consumers on its mobile apps promptly promoted by the government. However, the promptly promoted by the government. However, the
and web. Within in a short period of time ithin in a short period of time Paytm has issue of ease of use, transaction delay, issue of ease of use, transaction delay, security &
scaled to more than 60 million orders per month. scaled to more than 60 million orders per month. privacy issues cropped up. Currently, privacy issues cropped up. Currently, Paytm holds
Paytm is an acronym for pay through mobile. It is an acronym for pay through mobile. It 38% market share in UPI apps. Despite the issues the 38% market share in UPI apps. Despite the issues the
entered through India’s E-commerce market in 2014 commerce market in 2014 researchers were interested to know the level of researchers were interested to know the level of
providing facilities and products similar to online providing facilities and products similar to online satisfaction derived while using, promoting the satisfaction derived while using, promoting the Paytm
business such as flip kart, Amazon, snap deal etc. flip kart, Amazon, snap deal etc. app. and why it’s still the unique and why it’s still the unique choice among its
Paytm has keep on changing from time to time to its has keep on changing from time to time to its rivals.
terms and conditions as it is a legal contract between terms and conditions as it is a legal contract between
an individual customer, user or beneficiary. an individual customer, user or beneficiary. Paytm is Literature Review:
owned by ONE 97 Communications LTD and owned by ONE 97 Communications LTD and Paytm highlighted that brand reposition is based on highlighted that brand reposition is based on
headquartered in NOIDA, India in 2010. It is privately A, India in 2010. It is privately allied belief (Haugtvedt et al., 1994) while designing, allied belief (Haugtvedt et al., 1994) while designing,
working and developments of orking and developments of Paytm which
held company founded by Vijay Shekar Sharma.held company founded by Vijay Shekar Sharma. w
c
consolidated an examination on organizing a store, onsolidated an examination on organizing a store,
Reserve Bank of India In August 2015, granted Reserve Bank of India In August 2015, granted Paytm web progression, online gadget and also depicted ion, online gadget and also depicted
license to launch a payments bank.license to launch a payments bank. The Paytm about electronic portion system (Shwetu Kumar, about electronic portion system (Shwetu Kumar,
Payments Bank is a separate entity in which founder Payments Bank is a separate entity in which founder Vijay Yadav, Atiqu-Ur-Rahman, Aditi Bansal, 2014) Rahman, Aditi Bansal, 2014)
Vijay Shekhar Sharma will hold 51% share, One97 old 51% share, One97 FE Bureau (2017).
Communications holds 39% and 10% will be held by Communications holds 39% and 10% will be held by
a subsidiary of One97 and Sharma. The bank was a subsidiary of One97 and Sharma. The bank was There is a bright future for mThere is a bright future for m-payment (Bamasak) as
officially inaugurated in November 2017 by the officially inaugurated in November 2017 by the Demonetization has increased the growth of Demonetization has increased the growth of Paytm &
Indian Finance Minister, Arun Arun JaitleyJaitley. The Mobikwik (FE Bureau 2017) which is known as the
inauguration ceremony featured prominent banking inauguration ceremony featured prominent banking Digital payment companies. Considering security in Digital payment companies. Considering security in
personalities including former RBI Executive Director personalities including former RBI Executive Director mobile payments, independent security was not a mobile payments, independent security was not a
PV Bhaskar, Saama Capital Director Ash Lilani and PV Bhaskar, Saama Capital Director Ash Lilani and primary driver of mobile payment acceptance primary driver of mobile payment acceptance
former Shriram Group Director GS Sun darajan. Vijay (Pousttchi and Dietmar G. Wiedemann2008)(Pousttchi and Dietmar G. Wiedemann2008)
Shekhar Sharma and Renu Satti (resigned) (CEO (resigned) (CEO –
Paytm Payments Bank) are the other directors of Payments Bank) are the other directors of Statement of the problem:
Paytm Payments Bank. Its target is to launch over Its target is to launch over The UPI interface will allow account holders across The UPI interface will allow account holders across
100,000 banking outlets across India by end of 2018.100,000 banking outlets across India by end of 2018. banks to send and receive money from their smartanks to send and receive money from their smart
b
p
phones using just their Aadhaar unique identity hones using just their Aadhaar unique identity
Paytm in 2017 became India's first payment app to m in 2017 became India's first payment app to number, mobile phone number or virtual payments number, mobile phone number or virtual payments
cross over 100 million app downloads, with bonanza cross over 100 million app downloads, with bonanza address without entering bank account details. Hence address without entering bank account details. Hence
offer of Paytm Gold, a product that allowed users to a product that allowed users to by considering the UPI features, the study of users in considering the UPI features, the study of users in
buy as little as 1 of pure gold online. It also 1 of pure gold online. It also Sangli Miraj Kupwad Muncipal Corporation is Sangli Miraj Kupwad Muncipal Corporation is
launched the Paytm Payments Bank and ‘Inbox’, a and ‘Inbox’, a conducted to determine customer satisfaction towards conducted to determine customer satisfaction towards
messaging platform with in-chat payments among chat payments among Paytm in terms of Unified Payment Interface (UPI)in terms of Unified Payment Interface (UPI)
other products. By 2018, it allowed merchants to other products. By 2018, it allowed merchants to apps.
accept Paytm, UPI and Card payments directly into , UPI and Card payments directly into
their bank accounts at 0% charge followed by ‘their bank accounts at 0% charge followed by ‘Paytm Title of Research:
for Business’ app, allowing merchants to track their for Business’ app, allowing merchants to track their Customer Satisfaction towardsards Paytm in Sangli Miraj
payments and day-to-day settlements instantly.day settlements instantly. This Kupwad Muncipal Corporation,Kupwad Muncipal Corporation,
led its merchant base to grow to more than 7 million led its merchant base to grow to more than 7 million
by March 2018.Paytm launched its PaytmPaytm Mall app in Significance of study
February 2017, which allows consumers to shop from February 2017, which allows consumers to shop from The research was conducted to analyze the usage of The research was conducted to analyze the usage of
1.4 lakh registered sellers raised a whopping $200 1.4 lakh registered sellers raised a whopping $200 Paytm by users and to study their satisfaction levels by users and to study their satisfaction levels
million from Alibaba Group and SAIF Partners in Alibaba Group and SAIF Partners in based on different parameters viz.based on different parameters viz. Convenience,
March, 2018. Safety and Security, Transaction time and Customer Transaction time and Customer
service etc.
Need For the Study:
Demonetization drive paved way for Unified Payment Demonetization drive paved way for Unified Payment
Interface (UPI) app through PaytmPaytm which was

@ IJTSRD | Available Online @ www.ijtsrd.comwww.ijtsrd.com | Conference Issue: ICDEBI-2018 | | Oct 2018 Page: 209