Payso Fintech Pvt. Ltd.

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A Summer Internship Project Report on
Sales and Business Development
Submitted in partial fulfilment of the requirements for the degree of
Post Graduate Diploma in Management (Marketing)
By
Yousuf Ansari
(Roll No. F2M - 48)
Under the guidance of
Prof. Amruta Deshpande
A Study Conducted for Payso Fintech Pvt. Ltd.
at
Indira School of Business Studies,
Tathawade, Pune 411033
(2017-19)

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COLLEGE CERTIFICATE
This is to certify that Mr. Yousuf Ansari is a bonafide student of this Institute and has successfully
completed his project entitled “Sales and Business Development” at Payso Fintech Pvt. Ltd,
Pune for partial fulfilment of course Post Graduate Diploma in Management (Marketing) from
Indira School of Business Studies.
Dr. Renu Bhargawa Prof. Amruta Deshpande
Director Internal Project Guide
Indira School of Business Indira School of Business
Studies Studies

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ACKNOWLEDGEMENT
I wish to extend my sincere thanks to Mr. Ankit Bhatnagar, Director and Mr. Jayram
Jadhav (Company Guide), Payso Finetech Pvt. Ltd., Baner, Pune for helping in key decisions
& giving necessary advice and guidance and arranged all facilities to make things easier. I choose
this moment to acknowledge their contribution gratefully.
I wish to extend my profound gratitude to Prof. Amruta Deshpande , Indira School Of Business
Studies, Pune who in spite of being extraordinarily busy with her duties, took time out to hear,
guide and provided valuable suggestions to help me complete with the project work.
I express my sincere thanks to all faculties of Indira School of Business Studies, Pune for their
encouragement to complete the project work within stipulated time. I wish to extend my special
gratitude to all team members of Payso Fintech Pvt. Ltd. for supporting me in carrying out this
internship.
My hearty thanks to my friends and parents who were always there with support and
encouragement.
Finally, I would like to express my sincere gratitude to Dr. Renu Bhragava, Director, Indira
School of Business Studies, Pune for their continuous guidance and encouragement in pursuing
this project.

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DECLARATION
I hereby declare that this project is the record of authentic work carried out by me during
the academic year 2017 – 2019 and has not been submitted to any other university or institute
towards the award of any degree.
PLACE: Pune Mr. Yousuf Ansari
DATE: PGDM 2017-19 (Marketing)
Roll No - 48

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EXECUTIVE SUMMARY
 Project objective
To identify the potential lead from business to business and tries to convert them in the form of
sale the major part of the project deals with the set up to address merchants queries and
grievances and give them full knowledge about digital payments and transactions and to connect
more and more merchants to the Payso.
 Background of the study
To develop the digital profile of merchants and consumers To understand their payment methods
and analyses their financial portfolio in the light of digital transactions To identify their pain points
that could be addressed through digital payment solutions To determine patterns in merchant and
consumers behaviors and perceptions that could be consumed to introduce more digital payment
solutions.
 Method adopted
This research undergoes through descriptive type in which we have to analyze the quantitative data
on which our business is built. Most of our work is divided into two parts as follows,
 Merchant Onboarding’s
 Lead generation
Payso Fintech Pvt. Ltd which majorly deals with the client which want to grow their business on
online platform through digital transaction process, they help the client to build their network by
providing QR codes to the merchant via single bank account.
 Findings
The key findings in this projects are
 Making Transaction is very easy by digital platform.
 Growth in technology has opened many modes of payments through which merchants can
do transactions which are more convenient, accessible and acceptable.
Business is the growing phenomenon in which everyone tries to grow their boundaries

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INDEX
Sr. NO TITLE PAGE NO.
1 INTRODUCTION 9
2 COMPANY AND PRODUCT PROFILE 15
3 LITERATURE REVIEW 20
4
OBJECTIVES AND SCOPE OF THE
STUDY
24
5 RESEARCH METHODOLOGY 26
6
DATA ANALYSIS AND
INTERPRETATION
31
7 FINDINGS AND OBSERVATIONS 38
8 CONCLUSION 39
9
SUGGESTIONS AND
RECOMMENDATION
40
10 BIBLIOGRAPHY 41

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LIST OF TABLES
TABLE NO. TITLE PAGE NO.
1 Type of Payments option used by Merchants 31
2
Awareness among the Merchants about
digital payments 32
3 Merchants response about Payso network 33
4
Awareness among the Merchants about
Bharat QR? 34
5 Awareness among the Merchants about UPI 35
6 Merchants feedback about Payso network 36
7 Feedback from Merchants about Payso App 37

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LIST OF GRAPHS
GRAPH NO. TITLE PAGE NO.
1 Types of payment option used by Merchants 31
2
Awareness among the Merchants about digital
payments 32
3 Merchants response about Payso network 33
4
Awareness among the Merchants about Bharat
QR. 34
5 Awareness among the Merchants about UPI 35
6 Merchants feedback about Payso network 36
7 Feedback from Merchants about Payso App 37

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CHAPTER 1
INTRODUCTION
Payso Fintech, a startup company focused on simplified payments solutions promoted by
ex- banker’s with cumulative experience of 50+ years in managerial capacity. Working experience
in specialized areas such as Digital Payment Solutions, Physical Payments, ecommerce Acquiring
business, Digital Wallet Solutions, Electronic Banking products apart from Cash Management and
Transaction Banking products. We provide payment solution and cash management solution for
B2B and B2C space with focus on Hyper local, Shared economy, ecommerce and retail point of
sale business. We understand there is lot of simplification that needs to be brought in digital
payments and cash management for its true adoption by both buyers and sellers.
1.1 WHY IS ECOMMERCE SECTOR IMPORTANT?
E-commerce - electronic commerce is the buying and selling of goods and services, or the
transmitting of funds or data, over an electronic network, primarily the internet. These business
transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer or
consumer-to-business. E-Commerce is a growing sector in India. Just like the growth of IT
industry in India through the 1990s, the 2010s will be remembered for the growth in the E-
Commerce industry. In its present state the contribution of E-Commerce to GDP is around 0.2%
which is expected to grow 15 times to around 2.5% by 2030. Today, e-Commerce has
revolutionized the way companies are doing business. Now, consumers can purchase almost
anything online 24*7 a day and get an ultimate shopping experience. With increasing the need of
ecommerce industry, every businessman is looking to have an online store where they can sell
their range of products and services. One can get a lot of benefits by opting for ecommerce as it
delivers a comprehensive range of benefits to retailers and merchants.

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1.2 ECONOMIC GROWTH DEPENDS ON ECOMMERCES :
E-commerce has a tremendous growth potential and also generates economic growth. In
order to realize its full potential to bring about the structural changes needed for economic
development, it is important to recognize that e-commerce provides an environment. Its interaction
with various aspects of growth has to be self-reinforcing to yield the required rate of growth. It is
important to recognize that e-commerce is and is going to be the driving force of economic
development. E-commerce is one such activity that has generated new dimensions in
economic growth and has helped many countries to attain a higher level of development in recent
years, thereby creating an investment climate conducive for further economic development.
Internet and e-commerce carries the potential of a substantial increase of the productivity in the
service field, which is the biggest and the most dynamic sector of modern economies.
Reserve Bank of India (RBI) data shows that in the last five months, UPI volumes surged
five-fold to around 150 million and value of transactions increased three-fold to `15,540 crore.
“This is a big booster for payments. Apps have made payments possible at the moment of
engagement as digital payment volumes increase. “We will collaborate and compete with fintech
companies.” For example Axis is the backend for Google Tez, Samsung Pay and soon WhatsApp

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to enable payments via UPI. While to pay for say Uber ride the banks app could compete with
internet payment platforms. The UPI story is the ability of customers to create a handle with ease.
For social apps, the daily average user base is very high, so conversion of a user to a payment
customer becomes easy. Each entity, be it social apps or banks or wallet companies, are working
to their strength says Ritesh Pai, head of digital Banking at Yes Bank. “Internet companies are
good at creating user interface and user experience. Besides they already have users on their
platforms. With this we are finally getting closer to the vision of banking as a service. BHIM
registered impressive transaction volumes initially, because of its novelty factor as well as the
referral bonuses the government announced for drawing more people to the app. The transparency
in the economy will increase through the e-commerce transactions and the digital payment
gateways which will increase the GDP of the economy. This will increase the creditability of the
country and make a rise in investments. This step of cashless is truly going to create ripples of big
success.
1.3 THE IMPORTANCE OF DIGITAL WALLETS, E-BANKING & UPI IN
ECOMMERCE:
India moved a step closer towards becoming a cashless economy with the launch of Unified
Payment Interface (UPI). With this new payment method, your smartphones will soon double up
as virtual debit cards and you’ll be able to send or receive money instantly. Along with Bharat QR
code, it can help you get rid of your wallet all together. In November, a year after demonetization,
the number of UPI transactions leaped to nearly 105 million from about 77 million in the month
before. UPI transactions for the first time overtook digital wallet transactions, which lagged at
nearly 93 million in November only for goods and services. The following month, UPI extended
its newfound dominance with about 145 million transactions against 99 million transactions for
digital wallets, show RBI and NPCI data. SBI and Google Tez will also focus on driving adoption
of digital payments and growing the digital payments ecosystem. The two will focus on building
unique propositions for users and merchants including specially curated offers. SBI currently
processes 2 million UPI based transactions every day with a total combined credit and debit of
over Rs 400 crore. Tez, since its launch in September 2017 has processed over 250 million
transactions and has over 13.5 million monthly active users, across India. Google Tez, witnesses

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22 million active monthly active users. Tez, according to Google, saw over 750 million
transactions worth more than Rs 200,000 crore.
The biggest advantage that digital wallets, or prepaid payments instruments (PPI), brought
was the easy onboarding. All a user had to do was download the app, verify their mobile number,
link a bank account through a debit or credit card, and begin transacting. It was as simple as that!
Now, customers have to submit photo ID proofs, link their Aadhaar identity numbers, and submit
biometric details, making the process almost like opening a bank account. With the rapid
development of science, computer and network technology, electronic-commerce (e-commerce)
has become a routine part of human life because it is convenient for customers, particularly in
Business to Customer (B2C) commerce. The customer can place orders at home and thus save
time. Online payment systems have a very important role in e-commerce and they are used to
complete e-commerce transactions.
India is still a cash economy but if anything managed to chip away at that, even if just slightly, it
has been the rapidly innovating digital wallets industry. Startups including Paytm, Oxigen Services
and Mobikwik helped the Indian economy take baby steps towards digitisation, handholding and
enticing customers with cashbacks and discounts to make the transition from cash to digital. On
February 28, that Rs 12,000-crore digital wallets industry got stranded unable to meet a Reserve
Bank of India deadline for collecting information on all customers. In effect, customers who
haven’t furnished all the information required under RBI’s full know-your-customer norms will
not be able to use their digital wallets (except to use up whatever money remains in their wallets).
While digital wallets brought in convenience for the consumer, what it also did was disrupt the
payments business that was dominated by banks.
Banks responded with their own wallets such as PayZapp from HDFC Bank, SBI Buddy, and
ICICI Pockets. But the ultimate boost to their payments business came through the NPCI-
developed Unified Payments Interface, or UPI, that allows for real-time bank-to-bank money
transfers through mobile phones.

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Having excluded digital wallets from the interoperable instant settlement system, banks got a huge
leg-up. Now, with assistance from the technology platforms of global giants including Google and
WhatsApp, they could be seen as gaining lost territory.
Paytm
Became a Payments Bank and has made the wallet as a sub set within the payments bank
proposition. Has diversified into ecommerce, banking, investments and many other activities. Still
expected to lose a signify can’t share of users of its wallet services.
Mobikwik
One of the only remaining major standalone wallet entities in the country. Expected to suffer the
most because of its pure play wallet proposition. Is now looking for opportunities in employee
benefits and corporate payments and in the payment gateway business.
Freecharge
Has almost gone into hibernation. Has changed hands twice, being sold off by its founders Kunal
Shah and Sandeep Tandon to ecommerce giant Snapdeal in 2015 at a price of $400 million. Then
Snapdeal, not having added much value to the business, sold it off at Rs 385 crore to Axis Bank.
It continues to remain a separate entity within the bank’s fold.
1.4 WHAT IS THE PROJECT ABOUT?
This project is all about to provide digital payment solutions and to educate about digital
payments methods to the merchants which helps them to get there payments easily in their
account which also help them to maintain account properly in effective way

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1.5 DEFINITION AND PURPOSE OF THE PROJECT:
Definition:
Business development entails tasks and processes to develop and implement growth
opportunities within and between organizations. It is a subset of the fields of business, commerce
and organizational theory. Business development is the creation of long-term value for an
organization from customers, markets, and relationship. Business development can be taken to
mean any activity by either a small or large organization, non-profit or for-profit enterprise which
serves the purpose of ‘developing’ the business in some way. In addition, business development
activities can be done internally or externally by a business development consultant.
Purpose of the project:
 To understand the business model of merchant.
 To evaluate financial performance (sales/turnover) of the merchant.
 To understand the payment method of various merchants.
 To understand their online payment solution requirements of merchants.
 To understand the various payment options and its work.
 To reach as many as merchants in the Pune region.
.

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CHAPTER 2
COMPANY AND PRODUCT PROFILE
2.1 ABOUT COMPANY:
PAYSO FINTECH PVT. LTD.
Payso Fintech Private Limited is a Private incorporated on 11 September 2015. It is
classified as Non-govt Company and is registered at Registrar of Companies, Mumbai. Its
authorized share capital is Rs. 3,500,000 and its paid up capital is Rs. 1,205,368.It is involved in
legal, accounting, book-keeping and auditing activities; tax consultancy; market research and
public opinion polling; business and management consultancy. Payso Fintech, a startup company
focused on simplified payments solutions promoted by ex- banker’s with cumulative experience
of 50+ years in managerial capacity. Working experience in specialized areas such as Digital
Payment Solutions, Physical Payments, ecommerce Acquiring business, Digital Wallet Solutions,
Electronic Banking products apart from Cash Management and Transaction Banking products. We
provide payment solution and cash management solution for B2B and B2C space with focus on
Hyper local, Shared economy, ecommerce and retail point of sale business. We understand there
is lot of simplification that needs to be brought in digital payments and cash management for its
true adoption by both buyers and sellers.

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MISSION:
Creating innovative, reliable, secure and seamless payment solutions making it the most
preferred financial platform.
GENERAL INFORMATION:
Type - Electronics, Financial Services, Payments
Industry - Ecommerce
Specialties - Digital payments, e-wallets, Bharat QR, and BHIM(UPI)
Founded - 2015
Headquarters - Mumbai, Maharashtra
Key people - Ankit Bhatnagar (Cofounder)
Yogesh Verma (Cofounder)
Tushar Trivedi (CEO)
Products - Paysonetwork, Paysoapp, eMpower.
Number of employees - 51-200 employees
Website - https://paysofintech.com/
2.2 NPCI PARTNERS WITH PAYSO TO CREAT DIGITAL PAYMENTS
AWARENESS:
National Payments Corporation of India (NPCI) has collaborated with Payso Fintech in a bid to
create awareness about digital payments in four cities namely, Mumbai, Pune, Bhopal and Indore.
Under the association Finternship, an eight weeks internship program will be organised for about
600 graduates and postgraduates students of prime institutes to make them digitally sound. These
students will undergo a certified training program free of cost and post the training they will reach
out to merchants in order to help them accept cashless payments. Earlier this week the program
was started in Mumbai and it will also be conducted sequentially in Pune, Bhopal and Indore this
month. Mr. Kunal Kalawatia, Senior Vice President – Marketing & Branding, NPCI said, “We
intend to enable over 12,000 merchants with BHIM UPI payments in a span of 8 weeks through
this Finternship programme. We are happy to collaborate with Payso Fintech and spread awareness

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about Bharat Interface for Money – Unified Payments Interface (BHIM UPI) among students and
merchants. Digital payments landscape has been growing with each passing year and we believe
the key lies in educating the nation about the advantages of digital transactions.”
Mr. Tushar Trivedi, Mentor & Chief of Payso Fintech said, “We firmly believe that way forward
for Indian economy to succeed is through the digital transformation. The new available digital
solutions such as BHIM, Unified Payments Interface (UPI) or say QR code based technology has
ability to transform off-line business activity towards online, as they are safe, secure, fast and
accurate. There is much of the need felt for the large number of use cases where transactions are
repetitive in nature and also are smaller denomination driven. Payso wishes to be the change agents
who are prepared to work alongside of large network players and banks including co-operative
banks and societies to ensure that the entire ecosystem is benefited with smart innovative
solutions.” About the Finternship Program: Under the Finternship program, Payso has created an
on-line empanelment process after connecting and contacting colleges to emphasise on enrolling
smart students. There are various filters applied to scrutinise and ensure that desired level of young
students are enrolled. Everything from profile creation, enrolment to even doing specific learning
on digital are offered through an online portal of Payso and each activity could be performed
through the mobile application specifically created for students.
2.3 BUSINESS LINES
Payso Fintech has three main business areas: Payso network, Paysoapp, eMpower. They all
focus on the Digital payments, e-wallets, Cards Payment, Bharat QR, BHIM(UPI) and Cash
management service for B2B and B2C.
 Payso network
Payso network is a digital payments platform offered by Payso Fintech Pvt Ltd. Payso
Network helps merchants across India grow their business and stay competitive by leveraging
digital platforms for customer engagement and accepting digital payments through QR. We are
driven by this purpose, and we uphold our cultural values of collaboration, innovation, wellness
and inclusion as our guide for making decisions and conducting business every day. It is our duty
and privilege to be merchant champions and put those we serve at the center of everything we do.

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 Payso app
"Simplify payments, across payment modes, payment channels and payment accounts”.
Link Prepaid Wallet and Bank Accounts and pay at payso network merchant outlet, recharge your
prepaid mobile, data card, DTH and pay your fixed line and postpaid bills. Combine balances in
multiple wallets, bank accounts to make single merchant payment. Bill payments coming soon. A
comprehensive payment app for all your transaction needs.

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 eMpower
Empower is a cash payment solution for B2B and B2C space with focus on Hyperlocal,
On Demand services, Logistic and E-com. There are lot of problems faced by this player while
completing the COD to merchant payout cycle.
Since 70% of transaction are still cash on delivery most of the delivery boys end up carrying good
amount of cash during the day and the current practice followed to deploy the cash has risk, is not
efficient and is not scalable as well. Empower addresses most of the above issues, is scalable,
efficient, cheaper, transparent and has better controls. It will not only help to save the cost but will
also support real time cash flow monitoring and easy reconciliation, enhance productivity of
delivery boy and account staff and better control from risk perspective
2.4 OPERATIONS:
One instrument that makes business transactions smarter, safer and simpler. A single window
simple payment solution to cater all your payment needs. Accepts all types of payments with one
QR code sticker. Has single and cost effective solution to manage all the payment channels. Get
higher footfall of digitally enabled customers and earns higher revenue. Does not worry about
change and coin issue. Offers his customers a choice to make the payment through cards (Bharat
QR), Bhim (UPI) or Wallets. Get maximum visibility on app and website. Seamless integration
with existing solution or ERP. Focus on your business, leave payment to us by boost your sales.
Reach out to your potential customers. Manage sales and raise invoices. Improved customer
experience. Faster counter payments.

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CHAPTER 3
LITERATURE REVIEW
E Commerce caters to trading in goods and services through the electronic medium such as
internet, mobile or any other computer network. It involves the use of Information and
Communication Technology (ICT) and Electronic Funds Transfer (EFT) in making commerce
between consumers and organizations, organization and organization or consumer and consumer.
With the growing use of internet worldwide, Electronic Data Interchange (EDI) has also increased
in humungous amounts and so has flourished e-commerce with the prolific virtual internet bazaar
inside the digital world which is righty termed as e-malls.
The several types of e-commerce in use today are classified based on the nature of the transactions:
business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C),
consumer-to-business (C2B), and non-business and government, and organizational (intra-
business). B2C e-commerce, businesses sell directly a diverse group of products and services to
customers.
Business-to-Business e-commerce holds electronic transactions among and between businesses.
The Internet and reliance of all businesses upon other companies for supplies, utilities, and services
has enhanced the popularity of B2B e-commerce and made B2B the fastest growing segment
within the e-commerce environment. Inrecent years extranets (more than one intranet) have been
effectively used for B2Boperations. B2B e-commerce creates dynamic interaction among the
business partners; this represents a fundamental shift in how business will be conducted in the 21st
century
Mobile phones to make a payment were found to be of great concerns to the mobile phone users.
Security and privacy were the major concerns for the consumers which affect the adoption of
digital payment solutions. Doan illustrated the adoption of mobile wallet among consumers in
Finland as only at the beginning stages of the Innovation-Decision Process.
Doing payments via mobile phones has been in use for many years and is now set to explode. Also
mobiles are increasingly being used by consumers for making payments. “Digital Wallet “has

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become a part of consumers which are nothing but smart phones which can function as leather
wallets. Digital wallet offered many benefits while transferring money such as convenience,
security and affordability. Growth in technology has opened many modes of payments through
which consumers can do transactions which are more convenient, accessible and acceptable,
consumers have an inclination towards mobile payment apps usage. Offering various benefits such
as flexi payment digital wallet brands are providing extra convenience to consumers. Major factor
in adoption of digital wallet is convenience in buying products online without physically going
from one location to another location. There has been many studies conducted in past on mobile
payment application to find consumer interest and they found consumer has positive inclination
for the same.
The factors such as perceived ease of use, expressiveness and trust affect adoption of digital wallet
as payment method. These factors are termed as facilitators and plays crucial role in adoption of
digital payment solution. Usage of digital wallet among youth in the state of Punjab was found to
be associated with societal influence and usefulness, controllability and security, and need for
performance enhancement. Premium pricing, complexity, a lack of critical mass, and perceived
risks are the barriers to adoption of digital payment systems.
A comprehensive model ‘Payment Mode Influencing Consumer Purchase Model’ was proposed
by Braga and Mazzon. This model considered factors such as temporal orientation and separation,
self-control and pain of payment constructs for digital wallet as a new payment mode. Consumer
perspective of mobile payments and mobile payment technologies are two most important factors
of mobile payments research. Mallat studied consumer adoption of mobile payments in Finland.
Study found that mobile payment is dynamic and its adoption depends on lack of other payments
methods and certain situational factors.
Digital wallet payments bring extra convenience to shoppers by offering flexible payment
additions and accelerating exchanges. Shin and Ziderman tested a comprehensive model of
consumer acceptance in the context of mobile payment. It used the unified theory of acceptance
and use of technology (UTAUT) model with constructs of security, trust, social influence, and
self-efficacy. The model confirmed the classical role of technology acceptance factors (i.e.,
perceived to users’ attitude), the results also showed that users’ attitudes and intentions are

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influenced by perceived security and trust. In the extended model, the moderating effects of
demographics on the relations among the variables were found to be significant. Digital wallets
offer the consumers the convenience of payments without swiping their debit or credit cards.
Instant Cash availability and renders seamless mobility is also a unique feature of these digital
apps, for instance the balance in your Paytm wallet can be very easily transferred to your bank
account as and when you want. Following are some other advantages of making transactions
through e wallets:
Saves time: digital wallets hold the amount in the electronic form so as to ease the payment process
where users can make online payments without entering any card details.
Ease of use: As digital wallet is like one click pay without filling details about card viz card
number and passwords every time, It allows user to link digital wallet to accounts and pay right
away so that the consumers face no issues to enter the details every time a transaction happen.
Security: There is a good amount of security when payments are made through e wallets since the
wallet does not pass the payment card details to the website. These virtual wallets allow users to
lock their wallet.
Convenient and information stored under one roof: As digital wallets helps to eliminate need
to carry the physical wallet they are highly convenient. Also a better management is possible as
there is synchronization of data from multiple platforms like bank accounts, credit and debit cards,
mobile accounts and billing portals.
Attractive discount: Cash back and discounts are being offered by most of the players along with
providing offline wallet balance top up known as 'Cash Pickup' service. This service is being
offered by Mobikwik that will facilitate cash to be directly added to MobiKwik wallet where
consumers of even smaller towns can be benefited.
As per Ministry of Finance Report (December 2016) on Digital payment, financial inclusion is one
of the foremost challenge facing India. 53 percent of India population had access to formal
financial services. In this context, digital payment can act as accelerator to financial inclusion.

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Increasing availability of mobile phone, availability of data network infrastructure, rollout of 3G
and 4G networks and large merchant eco system are the critical enablers of digital payment in
India. It is further supported by the coordinated efforts of industry, regulator and government. As
per RBI’s report ‘Vision 2018’ four pronged strategy focusing on regulation, robust infrastructure,
effective supervisory mechanism and customer centricity has been adopted to push adoption of
digital payment in India.
The percentage of cash for transactions has seen a rapid decline in the past few years in India. In
2010, the percentage of cash in all payments was 89% compared with 78% in 2015. This rapid
decline is a result of an increased adoption of non-cash instruments such as cards and digital
payments such as mobile wallets, electronic transfers, etc. Stored value instruments like mobile
wallets (Paytm, Mobikwik, Citrus, etc.) and prepaid and gift cards have made payments though
internet devices convenient and easy. India represents one of the largest market opportunities for
digital payments. With a population of 1.25 billion, India accounts for roughly 18% of the global
population. The two key drivers of digital payments-mobile phones and internet users are already
well established in India. To date, India has about 1.0 billion mobile phone subscribers and 300
million internet users, ranking 2nd on both metrics globally

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CHAPTER 4
OBJECTIVES AND SCOPE OF THE STUDY
4.1 OBJECTIVES OF THE STUDY:
The objective of the project has been classified are primary and secondary objective.
4.1.1 PRIMARY OBJECTIVE
 To identify customer or a merchant is aware of digital payments in PUNE region
 To identify the business model of Merchants.
 To identify the problem faced by Merchants while accepting payments.
 To identify what kind of payment method used by Merchants.
 To identify satisfaction level of Payso product users.
 To find out the main competitor of the Payso Fintech Pvt. Ltd. In the market.
4.1.2 SECONDARY OBJECTIVE
 To identify and analyze various reasons for reduction in market size of company through
customers satisfaction level and feedback.
 To provide validated customer data which can be useful for our sales team to approach
those customers to explore the potential business.
4.2 SCOPE OF STUDY:
The study makes effort to ascertain the satisfaction level of customer perception towards
Payso Fintech Pvt. Ltd. Through questionnaire survey and also look for consumers near future
expansion plan for Payso Fintech. So the company would be able to come up to the expectation
level of its customer. The company can come up to the expectation only by finding out the
problem that customer are facing.
The subject has been taken for the research as it plays key role in the success of
ecommerce sector. No company can think of three QR based day to day transaction of 200 and
more wallets and UPI based applications platform, in this three QR based payment solution by
Payso.

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In short it is the perception of customer and level of satisfaction that is link between end-
user and company. As long as the company is able to satisfy its merchants, merchant would
remain in the bracket of loyal merchants. Hence it is very essential to understand the merchant’s
perception and measure the services time to time as there is always scope of improvement.
Before business can develop marketing strategies, they must understand what factors
influence buyer’s behavior and how they make purchase decision to satisfy their needs and
wants. The study aims towards collecting information about the merchants, what they are using
currently and what they are pay for that, and thus helping Payso in understand customer’s nature
and help in developing strategies which will thus help them in increasing their busuness.
It is done to understand what merchants consider while going for Onboarding Payso
Network. This study is mainly focused on various factors that affect merchants Onboarding
decision.
This study helps to understand satisfactory level of merchants towards the Payso. And
also understanding the consumer attitudes and their Onboarding motives.

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CHAPTER 5
RESEARCH METHODOLOGY
Research is an intensive and purposeful search for knowledge and understanding of social and
physical phenomenon. Research is scientific activity undertaken to establish something, a fact, a
theory a principle or an application. One can also define research as a scientific and systematic
search for pertinent information on a specific topic. In fact research is art of scientific investigation.
According to John.W.Best ‘Research is the systematic and objective analysis and recording of
controlled observation that may lead to development of generalization, principles or theories
resulting prediction and possibly ultimate control of events’.
5.1 TYPE OF RESEARCH
Descriptive Research
Types of Research Exploratory Research
Casual/ Experimental

27
1. Descriptive Research
Descriptive research is used to describe characteristics of a population or phenomenon being
studied. It does not answer questions about how/when/why the characteristics occurred. Rather it
addresses the "what" question (what are the characteristics of Minnesota state population or
situation being studied?)
2. Exploratory Research
Exploratory research is defined as the initial research into a hypothetical or theoretical idea.
This is where a researcher has an idea and has observed something and seeks to understand more
about it.
3. Casual/ Experimental
It is a collection of research designs which use manipulation and controlled testing to
understand casual processes. Generally, one or more variables are manipulated to determine their
effect on a dependent variable.
For this study the descriptive research is being used.
Descriptive research does not fit neatly into the definition of either quantitative or
qualitative research methodologies, but instead it can utilize elements of both, often within the
same study. The term descriptive research refers to the type of research question, design, and data
analysis. Descriptive research is unique in the number of variables employed. Like other types of
research, descriptive research can include multiple variables for analysis, yet unlike other methods,
it requires only one variable. For example, a descriptive study might employ methods of analyzing
correlations between multiple variables by using tests such as Pearson's Product Moment
correlation, regression, or multiple regression analysis.

28
5.2 RESEARCH DESIGN:
The purpose of the methodology is to design the research procedure. This includes the
overall design, the sampling procedure, the data collection method and analysis procedure.
Marketing research is the systematic gathering recoding and analysing of data about
problem retaining to the marketing of goods and services. The essential purpose of marketing
research is to provide information, which will facilitate the identification of an opportunity of
problem situation and to assist manager in arriving at the best possible decisions when such
situations are encountered.
Basically there are two types of researches, which according to their applicability, strength,
weaknesses, and requirements used before selecting proper type of research, their suitability must
be seen with respect to a specific problem two general types of researches are exploratory and
conclusive.
5.2.1 Type of research
The type of research here is “Descriptive Research Design”. This kind of design is used
for more precise investigation or of developing the working hypothesis from an operational point
of view. It has inbuilt flexibility, which is needed because the research problem, broadly defined
initially, is transformed into one with more precise meaning in exploratory studies, which in fact
may necessitate changes in research procedure for gathering relevant data.
The characteristic features of research are as follows: –
 Flexible Design
 Non-Probability Sampling Design
 No pre-planned design for analysis
 Unstructured instruments for collection of data
 No fixed decisions about the operational procedures
5.2.2 Sample Size

29
Sample size refers to the numbers of respondents researcher have selected for the survey.
I have selected 200 Merchants from market.
5.2.3 Sampling Technique
The sample design provides information on the target information and final sample sizes.
I used conveyed convenient sampling surveyed in research.
5.2.4 Sampling Area
While conducting sample, I went various places of Pune region.
5.2.5 Data collection tool
I have used Questionnaire, as the research instrument to conduct the market survey. The
questionnaire consisted closed ended as well as open ended questions designed in such a way that
it should gather maximum information possible.
The questionnaire was a combination of 15 questions. If choices are given it is easier for
the respondent to respond from the choices rather they think and reply also it takes lesser time and
the result has been recorded in the form of excel sheet.
Data was collected through two sources:
Primary data was collected directly from the customers through a questionnaire. The secondary
source was the company website and journals, website etc.
5.2.6 Method of sampling
Convenient sampling is used to do sampling as all the customers in the sites are Surveyed.
Convenience sampling is a non-probability sampling technique where subjects are selected
because of their convenient accessibility and proximity to the researcher. The subjects are selected
just because they are easiest to recruit for the study and the researcher did not consider selecting
subjects that are representative of the entire population.

30
In all forms of research, it would be ideal to test the entire population, but in most cases,
the population is just too large that it is impossible to include every individual. This is the reason
why most researchers rely on sampling techniques like convenience sampling, the most common
of all sampling techniques. Many researchers prefer this sampling technique because it is fast,
inexpensive, easy and the subjects are readily available.

31
CHAPTER 6
DATA ANALYSIS AND INTEPRETATION
The analysis of the questionnaire was done taking into consideration the objectives.
1. Which type of payment option do you prefer?
Table 6.1 Type of Payments option used by Merchants.
Graph 6.1 Types of payment option used by Merchants.
Interpretations:
From the above graphs it can be observed that the most of Merchant are using Paytm and
other Wallets. i.e. 70 Merchants are using Paytm & other Wallets,45 Merchants are using
0
10
20
30
40
50
60
70
80
PAYTM AND OTHER
WALLETS
GOOGLE TEZ AND OTHER
UPI APP
DEBIT & CREDIT CARD CASH
Types of Payment option used by Merchants
Response
Type of Payments options Respondents
Paytm 70
Google tez and other UPI App 45
Debit & Cerdit Card 60
Cash 25

32
UPI servicers, 60 Merchants are using Debit & Credit Card and 25 Merchants are dealing
with Cash.
2. Do you aware of digital payment services?
Table 6.2 Awareness among the Merchants about digital payments
Graph 6.2 Awareness among the Merchants about digital payments
Interpretations:
From the above graphs it can be observed that the most of Merchants uses and aware about
the digital payments i.e. 97% and only 3% Merchants are not aware about digital payment.
But in such case there are some Merchants how are aware of digital payments but not ready
to accept the cashless transaction because of trust issues.
Yes
97%
No
3%
AWARENESS OF DIGITAL PAYMENTS?
Yes No
Companies Response Respondents
Merchants said “YES” 197
Merchants said “NO” 3

33
On other side most of Merchants are very curious about digital payments solutions and
they are ready to shift from cash payments to digital payments.
3. Do you Know Payso network?
Table 6.3 Merchants response about Payso network.
Graph 6.3 Merchants response about Payso network.
Interpretations:
From the above graphs it can be observed that the most of Merchants are not aware or not
know the payso, i.e. 70% and only 30% Merchants are aware about payso.
Yes
30%
No
70%
RESPONSE OF MERCHANTS
Yes No
Merchants Response Respondents

34
4. Do you aware of Bharat QR?
Table 6.4 Awareness among the Merchants about Bharat QR?
Graph 6.4 Awareness among the Merchants about Bharat QR.
Interpretations:
From the above graphs it can be observed that the most of Merchants uses and aware about
the Bharat QR i.e 65% and only 35% Merchants are not aware and they don’t used Bharat QR.
Yes
65%
No
35%
AWARENESS OF BHARAT QR
Yes No

35
5. Do you aware of UPI (Unified Payments Interface)?
Table 6.5 Awareness among the Merchants about UPI.
Graph 6.5 Awareness among the Merchants about digital payments
Interpretations:
From the above graphs it can be observed that the most of Merchants uses and aware of
UPI i.e 60% and only 40% Merchants are not aware of UPI.
Yes
60%
No
40%
AWARENESS OF UPI AMONG THE MERCHANTS
Yes No

36
6. Merchants responds towards Payso network?
Table 6.6 Merchants feedback about Payso network.
Graph 6.6 Merchants feedback about Payso network.
Interpretations:
From the above graphs it can be observed that the most of Merchants are interested in
Payso network and they want use their services. i.e 90 Merchants are interested in Payso and 40
Merchants are not interested in Payso network and 70 Merchants feedback is they will think later.
0
10
20
30
40
50
60
70
80
90
100
Interested Not Interested May be later
Column1
Interested 90
Not Interested 40
May be Later 70

37
7. Do you know about Payso App?
Table 6.7 Feedback from Merchants about Payso App.
Graph 6.7 Feedback from Merchants about Payso App.
Interpretations:
From the above graphs it can be observed that the most of Merchants are not aware of
Payso app i.e 90% and only 10% Merchants are aware of Payso app.
Yes
10%
No
90%
AWARENESS OF DIGITAL PAYMENTS?
Yes No

38
CHAPTER 7
OBSERVATIONS AND FINDINGS
 Payso Fintech is a startup to kill peer-to-peer Cash transactions especially those of small
value and good opportunity of growth in India.
 Competitor to Payso Fintech in India are as followed
 Paytm
 PhonePe
 Google Pay
 Mobikwik
 Some of the merchants are very stubborn and not ready to shift from cash payments to
cashless transaction.
 In some case some of merchants are very excited about the Payso payments solution
because it give them some benefits and cash back offers which is not only for them but
also for customers.
 We also explore so many places to convert the clients but most important thing that we
observe that in different places behavior of merchants and chances of conversion is
different.
 We also learnt that selling of product and converting merchants is very difficult if you don’t
know the spin selling which means to know about the customer’s pain area and to generate
the demand.
 Majority of respondents are not satisfied with pricing of Onboarding as well as prices for
its transfer services (2%).
 Some time it took too much of efforts and time to convert merchants.

39
CHAPTER 8
CONCLUSION
In this project I met many customers to know there perception about Payso Fintech Pvt
.Ltd. After conducting the survey, I came to know different needs of customers their valuable
suggestions, respondent to the different questions also from this exhaustive study on Payso Fintech
Pvt. Ltd., I've learned about how Payso Fintech established itself in the market of Pune region.
From above the details, I conclude that Payso FineTech Pvt Ltd., is a startup company in
India i.e. which means Payso Fintech has good growth opportunity in Indian region. Merchants
who need day to day transactions online payment requires more transaction based app. From total
sample units 88.76% of the merchants are financially eligible to use online payment solution app.
88% merchants are running with other online payment apps. Merchants around 18% are willing to
shift towards Payso Fintech Pvt. Ltd., Pune region.
Marketing is not only the action or business of promoting and selling products or services,
including market research and advertising. Companies are bound to invest heavily on marketing
their products successfully and yet they do not always succeed in reaching up to the customers.
Specially in case of promoting a service, companies go through a lot of hassles to fight change
consumer’s perception and create acceptance.
By creating the marketing penetration strategy, the main objective of this project is
realized, which is to increase awareness to the brand and developing suggestions on how to create
repeats of the brand. The key proposition was a challenge to assess as customer approach towards
this particular product and their knowledge regarding the same.

40
CHAPTER 9
SUGESSTIONS & RECOMMENDATION
 Modification must be brought about in Payso Fintech, in terms of service or we can say
post-sales services.
 Majority of awareness is created through friends and companies past experience therefore
Payso Fintech should maintain good relationship with customers because mouth to mouth
publicity is also plays important role as good service is key to retain the customer.
 The process of Onboarding any merchants is time take and it takes up to 7 days or more. It
should be lesser.
 The Payso Fintech has to introduce more attractive offers & plans for the customers as
comparison to competitors in order to retain in the competitive market like tie-up with
BHIM, Merchants get up to 1000 Cashback every month.
 In order to retain its existing customers, Payso Fintech should try to make its network more
effective by post-sales servicers and at least make a one or two visit after Onboarding of
any merchants in Payso.
 Most of the Payso Fintech consumers are not satisfied with the charges at a time of
Onboarding and spares parts Payso Fintech should adopt appropriate pricing strategy as
compare to competitors like Paytm.
 Consumers are not getting the expected level of customer care services. Payso Fintech
should formulate proper strategy to address this issues to maintain its services in highly
competitive market, so Payso FinTech should immediately focus on customer service.
 Payso Network provides merchants to receive the payments not to transfer, which is also a
drawback so for that they should also provide payments or transfer option also and as
Paytm is providing online shopping options so that Payso should also start such facilities
so that merchants can busy stuff in bulk or in wholesale price.
 Focus more on social networks such as Facebook, twitter, Instagram and other social
communication mediums, which, this type of a payment solution category neglects the first
time. Social networks can attract millions of users, with a very short span of time because
it is an interconnected medium.

41
CHAPTER 10
BIBLIOGRAPHY
 Digital Marketing For Dummies by Russ Henneberry and Ryan Deiss.
 Boost E-Commerce Sales And Make More Money by Alex Harris.
 The SmartPhone Wallet: Understanding the Disruption Ahead by David W. Schropfer
Websites
 Payso website – https://paysofintech.com/
 https://paysofintech.com/empower/
 https://paysonetwork.com/
 https://www.thehindubusinessline.com/info-tech/mobikwik-becomes-first-wallet-to-
launch-upi-through-own-virtual-payment-address/article23968992.ece
 https://en.wikipedia.org/wiki/FinTech_in_India
 http://corecommunique.com/npci-partners-with-payso-to-create-digital-payments-
awareness/
 http://fintech.cxotv.news/category/news/page/2/
 https://onlinesellingindia.com/upi-apps-digital-wallets-in-india/
 https://payso.in/PaySo/
 https://www.linkedin.com/company/payso-fintech-pvt-ltd/?originalSubdomain=in
 https://www.linkedin.com/showcase/payso--network/

42
ANNEXURE
QUESTIONNAIRE
Questionnaire
1. Which type of payment option do you prefer?
 Paytm
 Google Tez and other UPI App
 Debit & Credit Card
 Cash
2. Do you aware of digital payment services?
 Yes
 No
3. Do you Know Payso network?
 Yes
 No
4. Do you aware of Bharat QR?
 Yes
 No
5. Do you aware of UPI (Unified Payments Interface)?
 Yes
 No
6. Merchants responds towards Payso network?
 Interested
 Not Interested
 May be later
7. Do you know about Payso App?
 Yes
 No

Payso Fintech Pvt. Ltd.

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