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  • Published on: 14th September 2019
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.   CHAPTER 1  

    INTRODUCTION   

1. ABOUT ELECTRONIC PAYMENT SYSTEM

Ecommerce payment system provides electronic payment system for all online transactions. The use of electronic payment has been increased especially for online based shopping and banking transactions. Credit card have become more common form of payments for e commerce transaction from few years. In developed countries 90% of transactions are made with this type, so due to heavy increase of online transactions security measures like PIN (Permanent Identification Number) which is printed on the backside of the card will be helpful. Online merchants with stringent rules by credit and debit card issuers (VISA, Maestro Cards) have provided the security protocol and procedures to secure online transactions. So in developing countries some problems are there to overcome the security of credit and debit cards, so the use of smart cards becomes more popular. Smart card resembles credit card which contains same futures for electronic cash and transfer. So in recent years visa, smart cards have become more popular to transfer electronic cash and online payments from bank accounts and can use for various online payments. Some companies with financial transactions like paypal has been more spreaded now a days for online base financial transactions.  Some of the consumers who want to transfer their funds quickly are able to do these type of transactions after verification and identity of such consumers to access their bank accounts. So using these type of payment transactions have although the risk of abuse theft and other problem which we are hearing frequently.

 METHODS OF ONLINE PAYMENT

Debit cards have much cheaper charges for online transactions than credit cards which have similar security measures. Besides all card based payments many more alternative payment systems have emerged like paypal.

 BANK PAYMENTS

Internet banking playing a major role in online based transactions. For this system does not involve any physical card, customers associated with internet banking just need to enter card details on the transactional sites. The payment gateway specify which bank is ready to pay from the users bank website. For these type of transactions authentication and authorization should be approved . So consumers can have the transactions without being redirected from their payment site. So it has been the safest method which have more than 90% of safer results for all type of transactions.

MOBILE MONEY WALLETS

In developing countries for example in India there are more mobile users than the active bank accounts. Based on this situation telecom operators entered into mobile money wallets which is easy to access adding funs and sending for the particulars made easy by their existing mobile number subscription and these type of transactions can also be done by visiting nearby recharge points which is closer to their nearby places for converting their cash into mobile wallet currency and these currency are been used for online payments and in e commerce purchases. These type of payment options like Airtel money and M-pesa has been accepted as other payment options by many e-commerce websites.

      

    CHAPTER 2

    INDUSTRY AND COMPANY PROFILE

FREECHARGE

Freecharge founded on August 2010 by Kunal Shah and Sandeep Tondon. Freecharge is a Mumbai based e-commerce website which provides online mobile recharge, bill payments and DTH and data card recharge in India. Freecharge is one of the fastest growing e-commerce site. Snapdeal acquired freecharge in 2015 which is the 2nd biggest takeover of any e-commerce site in India and the expected deal maybe around US$400 to US$450 million. As on July 2017 Axis bank acquired freecharge for US$60 million dollar.

HISTORY

In 2011 for the first time Sequoia capital invested 200 million INR in freecharge. After this deal the freecharge has been nominated as one of the most promising technology startups in India. In September 2014 the company raised US$33 million from Sequoia capital come a Sofina and Ru-Net leading these the one of the biggest fund raising by an Indian technology startups. On February 2015 HongKong based Tybourne space capital management, SF- based fund valiant capital management invested US$80 million. Freecharge had a good advertising platform and it is attracted by customers by offering on discount coupons and incentives.

WEBSITE AND APP

Freecharge provides online facility to recharge any mobile in India. Freecharge had an additional offer for the customers who got recharge will be written in the form of shopping coupons. These type of recharge makes customers attractive by making them recharge virtually free. Freecharge provides coupons of many retailers such as Caf�� Coffee Day, Dominos pizza and many more. By the end of 2012 freecharge had an registered users of 2.8 million.

PAYTM

Ecommerce payment system provides electronic payment system for all online transactions. The use of electronic payment has been increased especially for online based shopping and banking transactions. Credit card have become more common form of payments for e commerce transaction from few years. In developed countries 90% of transactions are made with this type, so due to heavy increase of online transactions security measures like PIN (Permanent Identification Number) which is printed on the backside of the card will be helpful. Online merchants with stringent rules by credit and debit card issuers (VISA, Maestro Cards) have provided the security protocol and procedures to secure online transactions. So in developing countries some problems are there to overcome the security of credit and debit cards, so the use of smart cards becomes more popular. Smart card resembles credit card which contains same futures for electronic cash and transfer. So in recent years visa, smart cards have become more popular to transfer electronic cash and online payments from bank accounts and can use for various online payments. Some companies with financial transactions like paypal has been more spreaded now a days for online base financial transactions.  Some of the consumers who want to transfer their funds quickly are able to do these type of transactions after verification and identity of such consumers to access their bank accounts. So using these type of payment transactions have although the risk of abuse theft and other problem which we are hearing frequently.

METHODS OF ONLINE PAYMENT

Debit cards have much cheaper charges for online transactions than credit cards which have similar security measures. Besides all card based payments many more alternative payment systems have emerged like paypal.

BANK PAYMENTS

Internet banking playing a major role in online based transactions. For this system does not involve any physical card, customers associated with internet banking just need to enter card details on the transactional sites. The payment gateway specify which bank is ready to pay from the users bank website. For these type of transactions authentication and authorization should be approved . So consumers can have the transactions without being redirected from their payment site. So it has been the safest method which have more than 90% of safer results for all type of transactions.

MOBILE MONEY WALLETS

In developing countries for example in India there are more mobile users than the active bank accounts. Based on this situation telecom operators entered into mobile money wallets which is easy to access adding funs and sending for the particulars made easy by their existing mobile number subscription and these type of transactions can also be done by visiting nearby recharge points which is closer to their nearby places for converting their cash into mobile wallet currency and these currency are been used for online payments and in e commerce purchases. These type of payment options like Airtel money and M-pesa has been accepted as other payment options by many e-commerce websites.

INTRODUCTION

Paytm is an Indian electronic payment and e-commerce app which is founded in  August 2010. One97 communications is the parental brand of paytm. The company���s slogan is ���Pay through mobile���. More than 13,000 employees are working in the company as of 2017 and has 3 million offline merchants. It also operates paytm wallet and paytm payment gateway. Paytm is the first ever Indian company that receives funds from China based Alibaba group. After this funding Alibaba group is the highest stakeholder in One97 communications.

HISTORY

Paytm founded in 2010 by One97 communications limited as a online prepaid mobile recharge site by Vijay Shekar Sharma. This innovation came by the inspiration Vijay Shekar Sharma during visit to China. By this inspiration paytm wallet has been launched in 2013, now which became largest with 150 million wallets and 75 million android app downloads. The uses of paytm wallet became more after the demonetization of 500 and 1000 rupee currency notes. After this situation users, paytm transactions and profit increase significantly. Paytm has invested 5 million in auto richshaw and also acquired consumer prediction platform Shifu for 8 million.

FUNDING

Alibaba group invested US$575 million in the year 2015 and this is the first ever investment of Alibaba group in India. Industrialist Ratan Tata personally invested in this firm in total 25% stake affiliated to Alibaba group as a strategic agreement in the part of One97 communications. In March 2016 paytm taken 300 crores from ICICI bank as a working capital. In 2017 May Softbank invested US$1.4 billion, this is the largest funding by any company in India���s ecosystem in which paytm increased its value from US$4.8 billion to  US$8 billion. This is the largest investment of Softbank in India as of now.

PAYMENTS BANK

For the first time in India in the year 2015 Paytm got license from RBI for the paytm banks called ���Paytm payments bank limited���. This leads to offer new services for the paytm users to enable cashless economy. Paytm payments bank starts its operations in May 2017 initially. The services of the bank opened to everyone through paytm android and IOS app.

SERVICE & PRODUCT

Paytm service is available for users both in browser, app on the android windows and IOS operating system. Bharat Bill payment system given permission for integrated bill payment system allowing multiple payment modes for customers.

PAYTM WALLET

The paytm wallet is a user application which allows its users to book air tickets, movie tickets, all type of recharges, electricity bills etc. In this wallet the money transfer feature is available only for mobile application user. Many merchants like in petrol pumps, in movie theatres, in general stores amount can be paid by the users through paytm wallet. This is one of the major changes in the electronic payment system.

PRODUCTS

In the paytm application many products is available including mobile phones, electronic home appliances, accessories, clothes with good cashback. Booking bikes, cars, gold has been made easy through the paytm application.

     

     CHAPTER 3

     RESEARCH METHODOLOGY

3.1. STATEMENT OF THE PROBLEM

ABOUT FREECHARGE

Since demonetization was introduced by Indian govt. the decision impact the customers from cash transactions to online transactions like freecharge so there are some of the issues which are getting repeatedly by the customers by using these online transactions in wallet/payment on their performance using. The aftermath of demonetization witnessed online platforms became to huge for everyday transactions. However the mass exodus of Indian customers from mortar stores to online payment platforms wasn���t easy. This leads to incorporation of online marketing strategies to target the right customer base, to rate and result in actual transactional actions. There are many campaigns which were launched to increase high rate of online transactions from freecharge targeting post demonetization effect. Campaigns carried out using keywords such as ���Wallet���, ���cashfree��� and ���cashless���. At some time when customers doing their online transactions has lot of issues regarding their credit and debit of their amount. The company is giving high priority for such a issues to sort it out as soon as possible. This leads to high successful rate of customers towards freecharge to gain their brand value. The main slogan of freecharge is ���cash free��� which got attracted by many customers leading it to one of the major online application in India.

ABOUT PAYTM

Paytm is still facing transaction issues from many users and got lot of complaints that money had been debited from the bank and did not credited in their e-wallet, and also users are unable to see their existing balance in their wallet. These leads to failing of transactions and getting their balance back to their accounts. These issues are facing by the customers from last few months. The customer care people are not much helpful for these type of transactions as they didn���t get the transaction id generated on it���s platform to track details. Many customers who are using these paytm apps in their Apple handsets has rised many complaints that they can���t even access their accounts. For this issue when contacted to a paytm spokesperson said that they are getting several issues related to server connectivity due to bank downtime or any technical issues. In this type of issues money will deduct from the account and will not credited for the recipient. These type of issues will resolve in 48 hrs.

Due to govt. move to scrap 500 and 1000 rupee old notes people started to use digital platforms to make their transactions. Due to huge technical issues failures of transactions has been increased much. Users using of Apple handsets facing many difficulties for this solution paytm said in a blog that they had found a bug in IOS app which users unable to pay by hanging their app. So it became easy to prevent the bug and accessing their accounts. Users who are facing these type of problems will get an app update to their handsets immediately then they are requested to approve as soon as possible. The company also stated the users that data and money is absolutely safe and secure and the issue they are facing is a very minor issue which can be sorted easily.

3.2 NEED OF THE STUDY

Paytm founded in 2010 started as a prepaid  mobile website has expanded online payment platforms like mobile recharges, bill payments, wallet payments and wallet to bank transfers. paytm is going faster that 20 million digital users is using this as per current data. This mobile app and website is full fledged converted into e-commerce marketing place offering services like electronics, mobile phones, sports and health, accessories and many more. The additional feature added like bargain power has made the selling and buying more interesting. More than 50 million orders has been taken place per month. It was founded and implemented by the idea of Vijay Shekar Sharma.

The strategy of the paytm not only enables to serve multiple needs of the customer giving them holistic experience by saving their time and effort in cross selling and upselling overall profitability to the organization. It is one of the top 7 e-commerce companies having billion dollar evalution. Majority of the respondents use paytm for recharge as it is very convenient for any phone without being dependent on recharge shops. More than 50% of the people paying their bills thorugh paytm that prevents them to save time and from frauds. Many people face many problems during their transactions and the major problems is payment gateway failure. Due to failure of the transactions people try to connect to the customer support. Only 10% of the people will get assistance for their failure transactions in very small percentage and most of the people are not getting any customer support many times. More than 50% of the customers are satisfied with paytm service for their better improvement in innovation and support.

Freecharge and paytm created new strategy in technology which is helpful for new engineers to start their own innovation to develop their own thoughts which is helpful for the new generation to go ahead in the technology leading the country to one of the best technological place.  

But the basic need of this study, we can come to know the process going on in online transactions and their need for everyday life to save time, it also helps to get new innovation thoughts for startups who are interested in building up a technology. This study will boost up and will increase the rate of online electronic payment transactions in a country like India. This will helps the growth of the country in technology and economic development. In which many countries are forward in this.

3.3 OBJECTIVES OF THE STUDY

��� To understand the advantages that the consumer perceives in using Freecharge and Paytm apps - There are many advantages for the consumers by using freecharge and paytm. They saves lot of time for doing mobile recharge, online money transfer, movie tickets, buying apparels, being in a line in bank to fill the form, to deposit amount. Waste of time for job holders to spend lot of time in banks so this issue has been resolved completely by these apps to do online cashless transactions everywhere and anywhere and this educate many people towards digital world where every person need to get into it. This also helps from many frauds such as fake currencies and many more. So these type of frauds will overcome only through cashless transactions in which these apps made easy.

Freecharge and paytm are also providing many benefits for the customers by giving discount coupons, cashback offers, lucky draw offers in which many customers are benefitted. This helps many people to get attracted towards this to save their money and time whereas if they do these transactions directly with cash to shopkeeper taking much amount and the work is not done in time as well. So these also helps to pay current bills easy without going to the govt. centres and to waste lot of time out there by being in line can pay these bills by sitting in home or else anywhere within minutes of time. This will reduce the amount of time and charges to go to govt. centres and to pay bills. This made easy for every human life to get into technology without depending on others for their work.

 

��� To study the brand loyalty among consumers using Freecharge and Paym apps ��� Brand loyalty is based on every individual consumer based on their thoughts towards the apps. This depends of their use towards apps and the benefits they got from it. This displays the brand value of the freeecharge and paytm. It also based on advertisement of the services they are providing and the benefits for the consumers they will gain gives them the more brand loyalty towards consumer and this will also help to promote their brand with mouth publicity and also by referring the friend towards it. This refer a friend initiate will also give us the brand loyalty for other customers to get attracted. The brand loyalty is also based on the customer support and the service app is providing at the time of failure of online transactions. This will have the attention of the customers which leads to increase of the share price in the markets. This will helpful for the brand to get more funding from many financial equities to fulfill their dreams.

��� To assess from the feedback the quality of service provided by Freecharge and Paytm apps ��� The service and the quality of the app providing by freecharge and paytm is very good and got attracted by customers the service is based on the number of users operating due to heavy load on the database. The app will get struck and the online transaction will heavily fail. This leads to bad service and maintenance of the app. So they will get mixed reviews from the customers based on their transactional values. Based on this reviews brand loyalty will increase and people start using this app. So the feedback of the consumers is most important for online based apps. This feedback values also based on the customer support of their failure transactions by responding them in time and getting resolved of the issue they are facing. Based on the feedback company need to change their profile according to the most common issues the consumers are facing and need to overcome it as soon as possible dat the customers need not to get the same type of issue next time this leads to get positive feedback on company profile for the development of the organization.

3.4 RESEARCH METHODOLOGY

The research design is descriptive research of secondary data where the sources are magazines, newspapers, articles, websites etc and the primary data where the survey had been done by using structured questionnaire. The sampling technique is convenience sampling. The sampling units are the customers of freecharge and paytm apps. The data collection method helped to administer the structured questionnaire to the identified customers of freecharge and paytm apps.

According to counter point technology market research mobile payment segment worth $3.2 billion in 2015. Both consultancy firm and market research firm has about 135 million wallet users that predicts value of India���s wallet mobile transaction will reach $11.5 billion by 2022. In this market freecharge, paytm and many mobile payments have occupied 70% of market revenue. To promote their self these apps dedicated more than 1000 crores for their customers as discount coupons for giving them repeat business. This concept done them crores of business and helped the company to grow enormously since its inception.

India is one of the most cash intense economies of the world with GDP ratio of 12% is around 3-4 times comparing for similar economies like Brazil and South Africa. The amount of money circulation in cash in the bank is about 51% in India the ratio is 8-9% for most of the countries.

The revenues for both of the company have multiple revenues with interest received from escrow account and advertising other products in their websites. So there will be a commission from the seller from the list of their products has been sell in their website on the other hand. So these apps sorted out the combination of both shopping and payment process in a single platform. This will reduce overall time for transaction and this will make the customers to get attracted and to do more transactions.  

The total research is based on the customers who are using these apps and perception of their transactions and the share value of the freecharge and paytm. In India transaction value of digital payment is USD 28,961 million expected in 2016 as annual growth rate by (CAGR 2016-2020) of 18.36% in total amount of USD 56,837.5 million in 2020. Due to large increase in sales of smart phones year by year and the average time the users are spending online.

   Number of users transacting online (millions)

     CHAPTER 4

     DATA ANALYSIS

Paytm Freecharge

Customer Base 100 million 20 million

Employee Base 2000-5000 51-200

Total Fund Raise $1.83 Billion $120 Million

App Downloads 30 Million 10 Million

Daily Unique Visitors 14,00,980 2,21,377

Monthly Unique Visitors 4,20,29,400 66,41,310

Alexa India Rank 17 134

Bounce Rate 24% 17%

   

   Comparison between Freecharge and Paytm

Both the companies started as mobile and DTH recharge companies with e-payment as their core business, however, one chose diversification and the other did not. They represent two strikingly different schools of thoughts when it comes to strategic planning & marketing. PayTM visualizes brand building as a more concrete step in running the business whereas FreeCharge focuses on giving greater benefits to its customers in the form of cash backs and vouchers to retain their engagement. Considering the figures in Table 1.1, PayTM clearly appears to be ahead of its rival Freecharge in terms of customer base, unique visitors, revenue and valuation. Both the Companies are doing well and have become giants in just 5 years since their inception; it is very difficult to decide which one is the right way to move ahead.

It is a better strategy to develop a unique positioning for single key service on the basis of its better organization for multiple services. By reducing risks and increasing the traction on the site that���s increasing its valuation. There will be a challenge to attract customers to come and decide for recharges where they can do it easily where they are doing it easily another website and where they were already shopping from another side.

Considering the price sensitive of Indian consumers, whether cash back/ vouchers is like to do more effective based on building strong brand recall. The customers will prefer one stop shop, everything on a single platform which they are specialist in that domain having a strong and unique positioning.

     CHAPTER.5

RESULTS/OBSERVATIONS, FINDINGS AND SUGGESTIONS

5.1 RESULTS

Q.1) Please select your age.

From my structured questionnaire the first question which I asked was about their age. And I had given 4 options which were under 18, 19-35, 36-45 and 46-55. And the result showed that 8% users were under 18, 2% users were between the age of 36-45 and 90% users were between 19-35. And 46-55 is 0.

So from this result I got to know that more users of electronic payment system are youngsters which are having the age between19-35. From this result I understand that the electronic payment system apps like freecharge and paytm are frequently used by the youngsters who do all type of money transactions to save their time.

So as of 2017, 70% of youngsters are leading India and due to these digital wallets and digital payments are hugely come into consideration for next generation of India. So age criteria plays a major role for developing and uses of these type of online apps predominantly.

So many biggest developing countries has been too fast to their technology on the usage of these apps due to younger generation made quite comfortable and successful. If we take the consideration of the above graph, we can easily come to know that the people around 19-35 are more interested in these apps to save the time and to use the technology for the future generation which helps them to grow their career directly or indirectly. These types of apps educate them towards technology and the importance of the technology in day to day life for each and every people in their life.

So the parents want the children to educate much towards the technology and their uses for their life which has been part of their life.

Q.2) Which app do you use frequently for your online payments?

At my second question of my structured questionnaire I asked that which app do you use frequently for your online payments? My options were freecharge, paytm or other. So from this I got result that 7% are the users of Freecharge, 86% are the users of paytm, and for others respondents mention none, online banking and mobile banking.

This result shows that most of the users are paytm users that is very high percentage comparison to the freecharge which is only 7%. But also there are many users who don���t opt for either freecharge or paytm, they are the users of online banking, mobile banking or none.

So based on this survey we can come to know that the people are getting attracted towards online electronic transactions that may be any paytm or freecharge or mobile banking or internet banking. This is completely based on the brand loyalty and the direct benefits that they are benefitted from the sources. The customers mostly preferring the apps with multiple services which make them easy to operate and to get into touch with all type of services which they are interested. So this makes the app to get lot of customers based on the services and the brand loyalty of the app.

So by seeing this graph we can come to the conclusion from nearby sources that people around 19-35 age group that they are preferring paytm more than the remaining apps and internet,  mobile banking because of the services provided by the paytm like money transfer, mobile recharge, dth recharge, electricity bills, movie tickets, clothing, electronics, accessories etc. getting them in touch with customers in single app which make the customer to get attracted and do their transactions more based on their interest.

So if we will see the remaining option like freecharge, its not providing the services like clothing, accessories etc. So the people only preferring the freecharge for their mobile recharge and money transfer. So the percentage of the people preferring freecharge is less compare to paytm.

Q.3) Which app gives you more benefits?

So the third question of my structured questionnaire is which app gives you more benefits? And the options were freecharge, paytm, other. So the freecharge got the 10%, paytm got the 85%, and in others I got none which is 3% and 2% no benefits.

So this results is proving that the most of the users of electronic payment system got benefit by using paytm which is a very big percentage. They think that paytm is giving them much more benefits as comparison to other apps. Paytm is giving more features which is very much helpful for the users for their day to day transactions.

So the benefits plays a major role in using the app for the customers in which they will think equally to be benefitted to do online electronic transactions for all day to day users to save the time as well. So the company are spending more than 1000 crores for discount coupons and cashback offers to get attracted to the customers which is the main strategy of their business. So this need to be promoted widely about the benefits that the customers going to get if they do online electronic

There are lot of benefits for merchants using these apps, they can transact cashless transactions which will be easy for them from frauds like fake currencies etc. So they can easily transact the daily transactions for bank and for the companies with this app which made them easy and will get lot of offer like cashback offer etc.

Q.4) Which app is providing you more services?

So my forth question of my structured questionnaire is which app is providing you more services? My options were freecharge, paytm and others. So the results showing that the freecharge now 3% paytm is 95% and in others the respondents mention online banking which is 2%.

So from this result I got to know that paytm is giving much more services as comparison to the freecharge. Money transfer is the main service which differentiates the consumers of using these apps, the less they will do the transactions the more they will expect the benefits. In this strategy paytm playing major role in attracting the customer by giving them good support for online electronic transactions. So based on demonetization effect people change their mindset to go to cashless transactions, so this made easier for paytm to attract customers by having money transfer services immediately, after the demonetization many apps came into consideration but paytm attracted the customers and it takes a major role in online electronic transactions by providing lot of services based on the customers. So paytm occupied 30% of e-commerce business in India which has lot of brand loyalty by its own with a slogan ���PAYTM KARO���. So they are successful in sending the services and brand image in all section of people to do cashless transactions which is very beneficial for the growth of economic development.

Services like clothing, apparels, accessories, cars and bikes and the major services providing by the paytm with cashback offer and free home delivery. So paytm is giving lot of competition for e-commerce apps by providing more services that the e-commerce apps have with reasonable price. So this got more publicity for this app that all services on one app that customers should not try in another e-commerce app. Paying through paytm bar code in vegetables shop, supermarkets made easy for the merchants on consumer as well where before the merchants are facing many issues like change for 1000, 2000 notes.

Q.5) Which app is providing you the fastest payment gateway to save your time?

At my fifth question of my structured questionnaire I have asked the question which app is providing you the fastest payment gateway to save your time? My options were freecharge, paytm or others. By the above study we can come to know that many customers were satisfying by using paytm online electronic payment gateway. So there are many factors which make the customers to prefer paytm for fastest electronic gateway. Paytm providing good payment system with safe and secure gateway that allows the transactions to do fast without any delay or failure in the transactions. They are providing many options for the fastest way such as if once we will recharge with debit or credit card, paytm provides an option of saving the card for future transactions. So this will help for the same customer if they want to use the same card for the next transaction by clicking the saved card option which are card is already been saved by clicking these card details we can directly do our transaction which saves lot of time for the customer not to again re-enter the card details and information they need, this saves the time for the customer who is in emergency of doing the transactions, this is one of the major option from the paytm which afterwards many other apps implemented. If a customer wants to do a mobile recharge, it also providing the recharge tariffs based on their state and their networks. This will be helpful for the customer who don���t have any knowledge on their recharge tariffs.

Q.6) Which app is providing you the most quality mobile application?

The sixth question of my structured questionnaire is which app is providing you the most quality mobile application. The options were freecharge, paytm and others. The results shows that freecharge is providing 7% of qualified service, paytm is 88% and in others online banking is 3% and mobile banking is 2%. So it shows that paytm is giving the most qualified mobile application as compare to freecharge.

Paytm founded in 2010 as a prepaid mobile recharge app then extended its services into all type of recharges, bills, for shopping of clothing, accessories, apparels etc. is providing many services by and Indian app. So based on the company profile according to services day to day the company is updating the app which is user friendly to give good quality and assistance for the privileged customer. The quality of the app is much better for using in Android and IOS without any issues. The app is so user friendly based on the costumer rating. This app provides money transfer and passbook is the additional feature which indicates this app as bank. The features of this app is making the app very good customer satisfaction and good quality .

Q.7) Which app is providing you end to end customer satisfaction?

The seventh question of my structured questionnaire is which app is providing you the end to end customer satisfaction? And the options were freecharge, paytm and others. So the results showed that 10% is for freecharge, 85% is for paytm and for others is 5% in which online banking and mobile banking comes. So it���s clear that majority of the respondents feel that paytm is the only electronic payment system app which provides end to end customer satisfaction comparison to paytm.

So based on the above survey most of the customers are satisfied on paytm app due to its end to end customer support for any type of issues. This also will follows the company���s profile whether the customers are satisfied or not? Most of the customers in the survey are been satisfied by the monthly money transfer limit for new customers monthly limit of paytm wallet transactions is 20,000 and this can be increase by submitting the KYC document to nearby branch or else can upload online so that paytm agent will come to the customer���s home for verification without wasting the time of the customer and after this verification they can increase the monthly limit upto 1,00,000. This is one of the major implementation of the paytm which they had went recently. So this type of end to end customer satisfaction increases the company to get more brand loyalty without any publicity like advertisement.

So the customer support of freecharge and online banking is not upto the mark so the customers are not fully satisfied if they had any issue in online transactions regarding sending any money or any recharge issues. If they want to contact the customer care it will take huge time to contact the customer care executive to resolve the issue immediately. In some cases due to less services of customer care they are unable to receive their call as well where customer is fully unsatisfied with these type of apps.

Q.8) Which app is providing you 24*7 customer support for all type of issues?

The eight question of my structured questionnaire is that which app is providing you 24*7 customer supports for all type of issues? And my options were freecharge, paytm and others. And the results showed that 5% are for freecharge, 90% is for paytm, and 5% is for others where 3% is for online banking and 2% is for mobile banking. So it shows that paytm is the only app which provides the all time customer support to their customers comparison to freecharge.

Based on the above survey most of the customers are satisfied with paytm for 24*7 customer support. Most of the customers who want to contact customer care executive will be facing the most common issue of their online transactions which they want sort out the problem immediately holding in line. So this will make the customers to know about the company���s brand loyalty and their service they are providing for the customers for immediate resolving of the issue.

The support for customers should also be execute through mails for the customers who are unable to reach customer care executives, so they try to contact for support through mails in which they expect the reply immediately and clearly for any type of issues facing by the customers at the time of doing online transactions.

Q.9) From how much time you are using electronic payment apps?

My ninth question of my structured questionnaire is that from how much time you are using electronic payment apps? And my options were 0-3 months, 3-6 months, 6-12 months and more than 1 year. So the result shows that 12% is for 0-3 months, 10% is for 3-6 months, 19% is for 6-12 months and 59% is for more than 1 year. So the results are clearly showing that people are using electronic payment apps for more than 1 year which is showing its popularity among people.

By the above survey we can come to know that in the developing countries like India there is a rapid increase of online electronic payments for their day to day uses which makes the country to have a growth in using technology and economic development where the people will educate much about cashless transactions to have a safe and secure transactions to save the time and not to carry the money which leads to negative issues like fake currency and robbery issues, so day by day the people are going towards cashless transactions where these type of apps like freecharge, paytm and online banking apps which came into consideration popularly where people slowly getting knowledge on these type of apps and how to do the transaction online with their mobile from their place. This made easy for most of the customers to do their transaction very easily, safe and secure which they will save lot of time.

Q.10) Which factor effects the brand trust and brand loyalty of these apps?

So my tenth question of my structured questionnaire is that which factor affects the brand trust and brand loyalty among these apps. And my options were advertisement, quality, services and market. So the result showed that 12% is for advertisement, 22% is for quality and 66% is for services. Hence the result is clearly showing that services are the main factor which affect the brand trust and loyalty among the apps.

By the above survey we can come to a conclusion services plays major role in endorsing their brand loyalty towards their customers. Now a days there are many online mobile apps which giving similar services but not all services safe and secure like these apps. So the customers will choose the apps which are very user friendly and having lot of services which is helpful for them for sending the money, doing the recharge, paying the bills, booking movie tickets, booking bus train and flight tickets, shopping their needs. So these types of services are very helpful for the customers for the day to day life without wasting their time and fulfilling their needs being in their home. So these apps are came into prominence because of the services they are providing for the customers and which are very user friendly to operate the services with safe and secure payment gateway. So all the people may not know the services providing by the apps so they need to publish through advertisement which is the very good way to increase their business and to expand it. So this advertisement also will be in many types, we can endorse our app in advertising between videos in you tube and in social networking sites like facebook, twitter, whatsapp and many more. So it is also a easy way to get to know about their services by the customers.

The quality of the app also plays major role to endorse their brand which some section of customers will attract so the quality is based on the developing of the app and maintaining it without getting struck when the database is full. This will impress some customers where they will easily get connected.

Q.11)  Would you consider yourself loyal to any of these specific brands?

So the eleventh question of my structured questionnaire is would you consider yourself to any of these specific brands? And the options were freecharge, paytm, both and not really. So the result showed that 2% is for freecharge, 54% is for paytm, 17% is for both and 27% is for not really. So the result is showing half of the people is loyal towards the paytm comparison to other options.

By the above survey we can come to know that many of the customers are not loyal to the specific brands as they look into new, fresh and best market. They will change their loyalty towards the brand but many of the customers are loyal for some brands which are providing good quality and services. So because of this they are stick towards some brands and they are loyal to them. So some customers will use similar apps quite commonly based on their services and the offer they are providing so the loyalty of the customers towards some specific brands are not really huge in number. This is based on completely the app is providing services, quality and benefits towards their customers for who they need to be loyal towards their brand which helps them to grow their business and to expand their business in public.

Q.12)  Most attractive advantages on Freecharge & Paytm apps?

So my twelfth question of my structured questionnaire is which is the most attractive advantage over freecharge and paytm apps? And the options were discount coupons, cashbacks, offers and no advantage. So the results showed that discount coupan is 10%, cashback is 63%, offers are 24% and no advantage is 3%. So that means that most of the customers use these electronic payment apps for its cashback advantage.

So based on above survey we can come to know that the customer get benefitted for online mobile apps based on their cashback, discount coupons, offers and many more. So many people in the survey are interested to use these apps based on their cashback offers providing by the apps to increase their sales and market in public. So this is one of the attractive reasons for the customers to go cashless transactions where they are benefitted more in online electronic payment gateway. So discount coupons also plays some role to get attracted by the customers where some customers alternately will go to discount coupons where cashback offers are not there at that time when they were using and some customers will prefer any type of offer which they will get attracted  towards online mobile apps.

5.2 FINDINGS

So for every transactions freecharge and paytm will generate some order numbers where the order number is sequential for some e-commerce transactions these apps generates additional cash transaction id which is associated with order number for the transaction. The online cash transaction id will be shared with the seller for settlement and there is no internal mapping maintain between online cash transaction id and order number. The failure rate of transactions in a platform is around 20%. Coming to paytm maintains its own gateway which is very good job where their factors not in their control (server issue and quality of banks which they interact with). So it takes CITI payment gateway for doing credit card transactions on this gateway is not its own. It is transferring to CITI payment gateway in one category. 75% rate is been recorded for the net banking transaction in general. More than 60% of successful transactions goes in e-commerce through Net Banking and Debit card. By knowing all these facts we can rate failure of paytm and freecharge transactions are <20% nor >20%. The cash transaction ids is also numeric. So for assuming it while run time it will generate some hash value

SUMMARY

From transaction history,

��� More than 70 million transactions are going on in 75 days through paytm which is less in freecharge.

��� In a day on an average more than 9,60,000 transactions paytm do which is less in feecharge.

��� In this 9,60,000 transactions on an average 7,50,000 are successful.

��� So based on all these transactions we can assume around 7.5 crores of transaction is doing per day.

5.3OBSERVATION

From the delta data that I have taken more than 20 samples on an average the sample data concludes.

��� More than 11.2 million transactions from 20 samples are derived per day 6,20,000 average comes around 13.2 million transactions spread derived from 18 samples. average comes around 730,000 per day.

��� Any e-commerce site will never have steady traffic, it usually is a bell curve. Usually low traffic on night.

583505466 1-Sep 12.50am ���

583528109 1-Sep 5.51am 75 xns/minute

��� But, I found one day, PayTM almost did not do any business in peak hours. (any hint of outage?)

605445205 27-Sep 11.40pm

605471285 28-Sep 12.32am 36 xns/minute

��� On 1-Oct, something happened, it says 50k transactions happened for an average time of 18 minutes. either there was manual jump in the index or PayTM was on fire that day.

608438446 1-Oct 10.34am

609354051 1-Oct 10.52pm 50,866 txns/min

��� More believable statistic on max payments per minute is on 1-sep.

584127689 1-Sep 7.50pm

584157058 1-Sep 8.15pm 1174 txns/min

��� PayTM is usually busy between 12pm-9pm time frame. This coincides with my findings from PayTM traffic.

5.4 SUGGESTIONS

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