Summer Intership Report

A Project Report
On
“Study on NiYO Global Cards”
For
FINNEW SOLUTIONS PRIVATE LIMITED
Submitted in the Partial fulfillment for the requirement of the award
POSTGRADUATE DIPLOMA IN MANAGEMENT
Awarded By
INTERNATIONAL SCHOOL OF BUSINESS & MEDIA ( ISB&M )
FOR THE ACADEMIC YEAR 2018-2020
CORPORATE MENTOR COLLEGE MENTOR
Mr. Suman Saha Mrs. Tamali Chakraborty
(DVP-Sales) Professor-Economics
FINNEW SOLUTIONS PRIVATE LIMITED ISB&M

Study on NiYO Global Cards 2
A
SUMMER INTERNSHIP
REPORT ON
“Study on NiYO Global Cards”
Submitted by
DEBOTTAM GHOSH- 19029
PGDM BATCH OF 2018-2020
Under the Supervision of
Mr. Suman Saha
DVP-Sales
FINNEW SOLUTIONS PRIVATE LIMITED
&
Mrs. Tamali Chakraborty
Professor- Economics
International School of Business & Media
In Partial Fulfillment of the Requirements for the Degree of
Post Graduate Diploma in Management
INTERNATIONAL SCHOOL OF BUSINESS & MEDIA, PUNE

DECLARATION
The Summer Project “Study on NiYO Global Card” at Finnew Solutions Private Limited,
Bengaluru is an authentic work done by me. It is to the best of my knowledge and belief.
This is to declare that all my work indulged in the completion of this project report such as
research and analysis of the benefits and use of this card is a profound and honest work of mine.
Date: Signature

PREFACE
The purpose of my study was to “Study on NiYO Global Cards”. As any study is incomplete
without the interaction with its main stakeholders, I interacted with many individuals of different
backgrounds like our Channel Partners such as Travel Agents, Visa Agents, Corporates, Leisure’s,
Students of different Schools and Colleges covering various areas in Bengaluru such as
Indiranagar, Marathahalli, Jayanagar, JP Nagar, MG Road, Hennur, Ulsoor, Electronic City etc.
There I have done the Business Development of NiYO Global Cards starting from making a
database of the Channel Partners, Schools, Colleges, etc. I called and fixed up a meeting with them.
After that, I went for the meeting, closed them and followed up for any kind of referrals.
Based on the above data which I made, I used to do cold callings and then visit there along with
our KAM’s (Key Account Manager) to various Schools, Colleges, Corporates, and even Channel
Partners to on-board the customers and taking feedback regarding their experience with our card.
Also, my research on the NiYO Global Card is going to help the senior management in developing
and adding new benefits to the product based on the findings and analysis of the research.

ACKNOWLEDGMENT
Firstly, I express my sincere gratitude to Mr. Suman Saha, DVP-Sales, Finnew Solutions
Private Limited for his belief in me and giving me a chance to get an overall knowledge about
our product and meet the different customers and create leads for the company.
Sincere thanks must go to the following:
Finnew Solutions Private Limited for giving me allowing to be a part of it during the internship
period and learn more about their organization.
Mrs. Tamali Chakraborty, Prof Economics, ISB&M was Internal faculty of my college for her
encouragement & moral support throughout the internship period.
I would also like to acknowledge my sincere gratitude to Dr. P.K De, Executive Director,
ISB&M and Dr. Pramod Kumar, President, ISB&M for giving me an opportunity to work on
a project, which has proven to be a valuable learning experience and also a memorable one.

Project Completion Certificate

Table of Content
Chapter Topic Page No
1 Executive Summary 8-9
2 Introduction 10-22
3 Product Profile 23-31
4 Objectives of the Project 32-33
5 Research Methodology 34-36
6 Findings 37-41
7 Learning from the Project 42-44
8 References 45-46

Chapter 1
Executive Summary

Chapter 1
Executive Summary
This is a report on NiYO Solutions, a Bengaluru based fin-tech startup, which started its operation
in 2015. It started with tax benefits options for all the employees in different corporates. It also
deals with the opening of the salary accounts for the blue-collar employees. Recently last year in
the month of August 2018 it starts its new product called “NiYO Global Travel Card” for those
segment of customers who travel abroad frequently, making their travel hassle-free and
economical, is what the Global Card aims at. Through this report, we will get an idea of how
NiYO’s card is different from another forex card in the current Indian market.
As we see that India is the 6th
largest economy in the world, there is a massive growth in people’s
income, this has created a boom in the Indian Travel Industry with cheap air tickets, low-cost
hotels, etc. So, in this context, NiYO launched its Card keeping in mind that there should not be
any extra charges in terms of currency conversion, which other forex cards impose and finally the
customers have to pay a lot of rupees for the currency he/she wants. Also, the card has as unique
a/c number to load and unload the money from the customer’s personal bank account and there is
no dependency upon the forex agents also. So, the company aims to promote the card without
charging anything from the customer’s end.
During the course of my Summer Internship, I was given the role of business development for the
Global Card. Coming to my job description, I was told the prepare data about the channel partners
such as travel agents, visa agents, schools, colleges across Bengaluru and do cold callings to fix
up meetings with them. On fixing meetings, I with my KAM (Key Account Manager) went to the
channel partners, explained the product and tied-up with them. Based on the tied-up we have to
sign an LOA (Letter of Acceptance) and for each LOA picked up I got appreciation from the
company. After that I used to take follow-ups from the channel partners and also did feedback
calls to the customers regarding their experience of the card and if he/she has any referrals for their
friends, colleagues, relatives, etc. This was my routine work for the entire 2 months.

Chapter 2
Introduction

Chapter 2
Introduction
Industry Background: -
The Indian travel industry is witnessing a growth rate during the past few years with the high-
income levels and low-cost air tickets have led a boom in the Indian travel industry. So, the forex
card plays here a vital role, in terms of the foreign expenses that customers do. This type of cards
can be issued by different companies such as Cox & Kings Forex Card, Thomas Cook Forex Card
and the different bank’s multi-currency forex cards are some of the forex cards in the current Indian
market. But all of the forex companies charge extra money in the form of forex markup, loading
and unloading charges, GST, transaction charges, etc.
Company Profile: -
Fintech Startup NiYO, a brand of Finnew Solutions Pvt. Ltd, a Bengaluru based company, founded
by Vinay Bagri and Virender Bisht. NiYO, being a fin-tech company works at the intersection of
financial services, HR and technology. NiYO was launched in July 2016 and since then has already
clocked more than 1,200 corporates and is being used by over 2,75,000 salaried employees in these
organizations. NiYO raised their Series A funding of $13 million from Social Capital, JS Capital,
Horizon Ventures and Prime Venture Partners. On 9th
July 2019 NiYO also received its Series B
funding of $35 million and now the total funding stood around $45 million and the company is
growing at a rapid rate and it expecting to have customers of 5 million by 2022.

VISION
By our estimate, in India, you can increase the take-home salary of 15 million employees simply
through better planning. However, there has not been any significant innovation in this space in
the last few decades and NiYO Solutions Inc. is all set to change that with path-breaking solutions
for the salaried segment. We strive to have deep partnerships with the HR community, banks, and
HRM providers to ensure a seamless yet compliant payroll & benefits process that increases the
take-home salary of employees without any cost to the employers.
MISSION
NiYO’s mission is to increase cash flow for all salaried individuals by
leveraging technology in areas of payroll & benefits. NiYO also features like
an integrated solution comprising of a Multi-Pocket Card, a Mobile App, a
digital account with multiple wallets and a Global Card.

ORGANISATIONAL STRUCTURE OF THE COMPANY
NiYO Solutions is a Bangalore based Fintech Startup company. The total number of employees is
50.
Source-www. goniyo.com
VINAY BAGRI
&
VIRENDRA BISHT
CO- Founders

ORGANISATION STRUCTURE: FUNCTIONAL
CO-FOUNDER
IT SERVICE SALES FINANCE
VIRENDRA
BISHT
NEETHU SAISANKAR VAISHNAVI
DEPARTMENTS

MARKET SHARE OF THE COMPANY
NiYO focuses on payroll solution for SMB’s NiYO has seen a 500% increase in demand for the
solution and has already signed up more than 100 SMBs. The start-up is not yet registered in the
stock market.
5C’s Model: -
a) Company
To analyze the company we have done the SWOT analysis.
SWOT Analysis: -
Strengths: -
• NiYO Global Card is Prepaid Debit Card powered by Visa Platinum so it is excepted
all across the world.
• It has no charges as compared to other Forex Cards.
• Fast and easy process to apply.
• No dependency.
• High Security enabled Cards.
• Better Customer Support facility.

Weaknesses: -
• Can’t do a tie-up with the Corporates.
• Being a Debit Card does not provide interest in loading and keeping money into the
account.
• It provides only the current account facility.
• No Credit facilities are there.
• Money can only be transferred through NEFT, RTGS or IMPS. No UPI facility is
available.
Opportunities: -
• Indian Travel Industry is at its peak, so there are a lot of scopes for NiYO to grow.
• No competitors provide the same benefits which NiYO does.
• Accepted across all over the world.
• Received a good amount of funding from potential investors.
• Customers are very much satisfied with their experience with the card.
Threats: -
• Competitors start providing the same benefits as that of NiYO Global Card.
• Loose in the faith of the customers.
• Recession due to which Travel Industry might shrink.
• As a Startup people might not take it seriously.

b) Customers
• Visa Agents
• Travel Agents
• Leisure’s
• Schools
• Colleges
• Corporates
• International Online Shoppers
c) Competitors
• Cox & Kings Forex Card
• Thomas Cook Forex Card
• IndusInd Bank Multi-Currency Forex Card
• ICICI Bank Single Currency Forex Card
• HDFC Multi Currency Platinum Forex Card
• Yes Bank Multi-Currency Travel Forex Card
• Axis Bank Multi-Currency Forex Card
• Standard Chartered Forex Card

d) Collaborators
NiYO Global Cards banking partner is DCB Bank and the card which it provides is powered
by Visa.
e) Context
1. Political Factors-
• The political factors of a country play a vital role in the economic outlook for the country
and, consequently, the perceived value of its currency. Forex traders constantly monitoring
political news and events to gauge what moves, if any, a country's government may take
in the economy.
• The Election has always a major effect for currency markets, as exchange rates, often react
more favorably to parties with fiscally responsible platforms and governments willing to
pursue economic growth.
• The fiscal & monetary policies of any countries government are the most important factors
in its economic decision making. Central bank decisions also impact on the interest rates
and are keenly watched by the forex market.
2. Economic Factors-
• Economic reports play an important role in the backbone of a forex trader's playbook.
Maintaining an economic report calendar is crucial for staying current in this fast-paced
marketplace. GDP is the most obvious economic report, as it is the baseline of a country's

economic performance and strength. However, GDP is a lagging indicator, meaning that
it reports on events and trends that have already occurred.
• Inflation, again a very important indicator, as it sends a signal of increasing price levels
and falling purchasing power. However, inflation is a double-edged sword, as many views
it as placing downward pressure on a currency due to retreating purchasing power. But on
the other hand, it can lead to currency appreciation and may force central bankers to
increase rates to curb rising inflation levels.
• Employment levels, retail sales, manufacturing indexes, capacity utilization, etc. carry
important information on the current and forecasted strength of an economy, its currency,
serving as a suitable complement to the factors we've outlined above.
3. Social Factors-
• With continuous growth in income levels and cheap airfares, people visit abroad
frequently.
• Also, with the help of social media people try to book holidays outside India has a great
impact.
• People themselves have started traveling and willing to travel that is out of the way and
exotic.
4. Technological Factors-
• It plays a major part in the promotion of a place, product or service.
• Companies now focus on Search Engine Optimization (SEO) like never before to
improve their visibility.
• Reading, researching, flight and hotel bookings, maps, reviews, designing itinerary is
done completely online by visitors before traveling.

5. Legal Factors-
• Travel industries should follow the legal procedures set by the government.
• There, should not be any illegal practices which are punishable under the law.
• Companies should also aware the travelers about the legal procedures needed as per
norms set by the Government.
6. Environmental Factors-
• Travel Industry should know which set of customers to attract and where to set
operations in terms of demographics, geographies, gender, age, etc.
• There is macro as well micro-level environmental factors for each and every firm in
the Forex Market.
Porter’s Five Forces: -
a) Rivalry in the industry
Currently, there are 10 players in the market with an average 2 product portfolios who provide
the Forex Cards to the customers for their international expenses. But NiYO’s Global Card is
different from the existing cards in the market. All other companies impose charges apart
from the exchange rates. The rates such as forex markup, GST, loading and unloading
charges, transaction charges, etc. which NiYO does not impose on the exchange rate.
Moreover, every company other than NiYO works on IBR (Inter-Bank Rate), so they charge
markup but NiYO works on VER (Visa Exchange Rate) and it’s a prepaid debit card with a
unique account number and IFSC code so you transfer your own money from your personal

bank to NiYO card so there are no charges. This feature keeps NiYO ahead of the competition
in the industry as of now.
b) Threats of new entrants
As NiYO Solutions has come up with a unique product in the Indian Market, so now there
is always a chance for the other competitors to come up with the same product in the
market, with additional more features. So, there is always a threat to NiYO. NiYO is
continuous, serving better to its customer in the form of after-sales services and
continuously working on to serve the best to its customers. NiYO is also working on more
innovative technologies to grab more customers. Thus, in this way NiYO is handling the
potential of new entrants into the industry.
c) Power of Suppliers
In the case of NiYO, the suppliers are Visa & DCB Bank. NiYO works on a profit-sharing
model with Visa and a partnership business with DCB Bank. NiYO works on a low-profit
margin and whatever it earns it gives 50% to DCB Bank for their service of keeping
customer’s money in the bank account. So, NiYO is dependent on the power of Suppliers
very much.
d) Power of Customers
NiYO’s Global Card has already a customer base of 1 million with just a one-year-old
product. This customer base will grow to 5 million by 2022 as predicted by Vinay Bagri,
CEO of the Company. This shows customers are liking its product and services over the
competitors. NiYO also has a referral program for the customers, wherein customers can
earn up to Rs.2000 in his/her NiYO Card by referring to his friends. Often customers face a

lot of issues while traveling, such as there is a high chance of fraud if the customer loses
his/her card. But there is not such fraud happens with NiYO Card as it provides a high-
security feature of lock and blocks the card on the NiYO Global App. This shows that
NiYO has able to win customers trust.
e) Threats of Substitute Goods
NiYO has always a threat of substitute products offered by the competitors. It should work
on that more often so that if a substitute product comes to the market, it does not lose its
market share. It should always focus more on technology and other financial services being
a fin-tech company so that it can board more and more customers in the near future.

Chapter 3
Product Profile

Chapter 3
Product Profile
NiYO Solutions has a wide range of product portfolio such as: -
a) NiYO Benefits- It is a Tax-Saving Flexible Benefits Plan for corporate employees.
The benefits which it provides are as follows: -
• Food Allowance/Meal Vouchers
• Mobile/Broadband
• Fuel/Car Maintenance/Driver Salary
• Research & Periodicals
• Gift Allowance
• Leave Travel Allowance (LTA)
• Uniform

b) NiYO Bharat- It is a hassle-free salary account and it provides ultimate financial
benefits to the blue-collar employees. The benefits are as follows: -
• Lifetime zero balance account
• Permanent salary account, even if jobs are changed
• Accidental insurance worth Rs. 1 lakh
• Advance Salary
• Family Card' - An additional card for your loved one
• Instant account activation

c) NiYO Global- This is for all the International expense purpose. The benefits are as
follows: -
• Zero Forex Mark-up around the globe
• Load via NEFT, use at Visa exchange rate globally
• Cash load is not permitted
• Real-time notifications
• Use your NiYO app to instantly reset your ATM PIN
• In case of loss or theft, lock your card from the NiYO App

NiYO Global Card
NiYO has also launched a product called “NiYO Global Travel Card” last year, which is the first-
ever forex card with ‘zero forex mark-up’. Travelers, using this card, will not pay any currency
exchange premium and international transaction fees – unlike a regular forex card. With the NiYO
Global Travel Card in her pocket, the overseas traveler will effectively have no need for the usual
multi-currency forex cards or travelers’ cheques – all the while making international transactions
cost-effective across 150-plus countries and 35 million merchants worldwide. Besides the cost-
effective feature, NiYO Global Card also offers instant digital onboarding, convenient loading

from the user’s bank account via NEFT/IMPS. The Global Card in partnership with DCB Bank
and Visa.
International travelers are always burdened with the high currency exchange rate charged by
issuing banks for all transactions made outside the country. This rate can vary between 1-3% of
the amount transacted. Banks also charge either a flat fee or set percentage of the transaction
amount, in addition to the currency exchange charge. In fact, travelers face a variety of issues with
current multi-currency cards, starting from the difficulty in issuance, having to go to a branch to
load/unload currency, challenges in tracking spending, etc. The NiYO Global Card offers instant
setup, convenient loading from any account via NEFT/IMPS, ZERO currency exchange
premium, and zero international transaction fees on usage anywhere in the world. This makes
present-day multi-currency cards and traveler’s cheques redundant.
People are very worried about card security abroad and this card gives zero fraud assurance. It
gives a lot of flexibility and can be operated from anywhere in the world, which is probably what
makes this card the most advanced travel card in the world. It is in the same league as Revolt or
Manzo (UK-based digital banks). The card is supported by a cutting-edge mobile banking
app which gives users the ability to lock and unlock either the full card or a payment channel
anytime, anywhere. The app also provides real-time notifications on usage, exchange rates, and
refunds, while helping users find convenient ATM locations, avail nearby offers, and much more.
The company did not charge anything from the customer’s end, not even the annual maintenance
fee for the card also. The main source of revenue of the company is not from the customer’s end
but from the Visa. So, the more customers use this card the more NiYO earns.
By January 2018, Indian travelers had spent $1.2 billion abroad within 10 months. This has created
immense opportunity for travel-friendly cards, and NiYO aims to be the market leader in this
space. NiYO plans to issue 5 million cards in the next 2 years.

Features of NiYO Global Card
• Can be used at over 2 million VISA/MasterCard ATMs and over 35 million merchant
outlets across the world
• Load the card and check account balance in INR, no need to add international currency
• For security, the card can be blocked using the NiYO mobile app and can be locked through
the app when not in use
• No minimum balance or low balance fines
• Real-time notification alerts of transactions
• Users can reload the card instantly with ease from any bank account via NEFT/IMPS
• Additional offers and benefits available at select outlets across the world
• Features such as ATM locator and travel insurance included with the card
Corporates using NiYO Global Card

Value Proposition
• In terms of the Global Card, as of today, nobody is there. Some people have a card but not
an app and vice versa. This kind of a comprehensive solution, nobody else has and NiYO
is the only one.
• On blue-collar, a lot of companies have the prepaid card but nobody has a payroll system.
So, employers just love NiYO because they just have to upload the attendance and NiYO
does everything else. There is nobody else who does that.
• In the tax benefits space, NiYO has competition in the form of Zeta. There are two of us
who are similar in this space. The difference between them and NiYO is they have tied up
with Sodexo for the meal coupons, while NiYO issue their own meal coupons.
Challenges Ahead
There is competition which will come in. There are regulations which can change for fin-tech
companies. There are international players like Revolt who can come to India. NiYO is also
exploring certain markets and they would like to go into as many countries as possible. They think
Europe is attractive. They would definitely like to go abroad because, from a tech point of view,
they are either equal or superior to the other similar companies globally.

Chapter 4
Objectives of the Project

Chapter 4
Objectives of the Project
Objectives of the study
The reason for choosing this topic has the following objectives: -
A. To find out the target customers and generate leads for the company.
B. To find out the perceptions of the customer about the card.
C. To find out from the customers the reasons for not picking up the card.
D. To provide a solution considering the views of the customer using the card vs not using
the card.
Scope of the project
NiYO Global Travel Card is limited to load with INR (Indian Rupees) and it’s a Debit Card. So,
no other currencies are supported by the card and it does not provide any kind of credit facilities
for the customers. Moreover, it is also limited to transfers of funds through NEFT, IMPS, RTGS
only, no UPI fund transfer is not supported as of now.

Chapter 5
Research Methodology

Chapter 5
Research Methodology
The Data collected here is primary data, which I prepared in the google sheet by searching our
target audience. After preparing the data we did cold callings on the data and fixed up meetings
with the channel partners like the Visa Agents, Travel Agents and then with the KAM (Key
Account Manager) I went to different channel partners across the Bengaluru City and explained
the channel partner about our product collected his/her Company’s details for a tie-up, picked up
the LOA (Letter of Agreement) and then had a follow up with the channel on a regular basis for
more business.
I have also been to different desk activities in different corporates like Ericsson, Walmart, Huron,
etc. there I boarded the customers with NiYO Global Travel Cards.
The Methodology followed for primary data is through a questionnaire. The questionnaire consists
of 7 questions. Online services were referred to a study about how Fintech company function. To
collect the data, I visited many tech park and companies in Bengaluru. The problem encountered
was difficulty in getting the appointment of the HR manager. Big companies don’t entertain
students meeting the HR head. Getting a questionnaire filled by the HR head was a difficult task.
A) To find out the target customers and generate leads for the company
To perform lead generation for the company I was first asked to make the database of our target
audience. The target audience for NiYO Global Cards such as the channel partners from which
70% business comes, schools, colleges, etc. After making the database I worked on it as callings
and fixed up meetings with different channel partners. Then, on the speculated date of meeting I
with my KAM used to visit the channel partner is a person and pitched our product and what
benefits he/she will get out of promoting our card to the customers, who approach them for any

kind of forex cards. Once the channel partner agrees for a tie-up, I collected the documents of
that channel partner with due sealed and signature and from our company’s side, we signed an
LOA from a channel partner. After successful pick up of LOA, his code is created with the
company and with each and every customer he recommends, he gets a commission of Rs 200-
500 depending upon international fund transfer done by the customer. Then, I followed up with
the channel partners for more business. I also did feedback calls to the customers who applied for
the card, regarding their experience and finally get any recommendation from them to create
more leads for the company.
B) To find out the perceptions of the customer about the card
To find out the perceptions of the customers, I on a daily basis called them for their feedback about
the card. Through, the call I used to ask them their experience of the card, did they faced any issues
while using the card, if any friends, colleagues or relatives have any travel plan or not and how
he/she would recommend his friends or colleagues. This calls gave me an idea of whether the
customer is really liking the product or not and how often they’ll recommend their fellow mates
about the card. This way I found the perceptions of the customers.
C) To find out from the customers the reasons for not picking up the card
To find out from the customers the reasons for not picking up the card, I went to the channel
partners and then collected the data about the customer who is not at all interested to take the card.
Based on the data collection I found that the customers are not aware of our product and so they
are not at all ready to take any kind of risk while traveling. The reasons behind not picking up our
card are since NiYO, a startup so many of the customers didn’t rely on them, at the first go.
Moreover, they are also worried if the card will work across anywhere in the world or not and will
there are any extra charges in transactions. These are the probable reasons for not picking up the
Card.

D) To provide a solution considering the views of the customer using the card vs
not using the card.
To provide a solution considering the views of the customer using the card, I did feedback calls,
to the customers who used our card regarding their experience with the card. In 90% of the cases,
I got a positive answer from the customer and they are very happy and wanted to recommend their
friends and colleagues who are looking for any travel. Using this feedback call as a tool I tried to
convince another crowd who were not picking up our card earlier and this resulted in more sales
of the card. Thus, this helped me in having a good convincing power through this internship.

Chapter 6
Findings

Chapter 6
Findings
Observation-based on NiYO’s Business Data
Figure-1 Customer of NiYO Global Cards
Source-www.goniyo.com
From the above figure, we can see that the company’s main business comes from the travel agents
i.e. 40%. Hence, it focuses mostly on travel agents for a tie-up and works in a revenue-sharing
model. The second important sector is the schools & colleges as it constitutes 20% of the business.
Thirdly, the business comes from Corporates and Leisures which accounts for 15% each and lastly
International Payment which accounts for 10%. Through this data, we are able to understand the
day to day business from different sectors.
Corporates
15%
Schools & Colleges
20%
Leisures
15%
International
Payment
10%
Travel Agents
40%
Customer of NiYO Global Card
Corporates Schools & Colleges Leisures International Payment Travel Agents

Observation-based on Questionaire: -
a) International Transactions mode
Figure-2 Modes of Transaction
Source- Questionaire-based on customer’s data
From the above figure, we can see that what is the mode of transaction people normally does while
traveling abroad. According to our data collected through questionnaire, almost 40% of the
population use Forex Card, 30% NiYO Card, 20% Cash, and the remaining 10% use International
Debit/Credit Card. Through this data, we are able to understand that people prefer to use Forex
Card more than other options and NiYO Global Card is also doing its best to capture the existing
forex card market, as there is pretty less gap.
Cash
20%
Forex Card
40%
Intl Debit/CreditCard
10%
NiYO Card
30%
Modes of Transaction
Cash Forex Card Intl Debit/Credit Card NiYO Card

b) Percentage of Customers heard about the card
Figure-3 Customer Heard About NiYO Card
From the above figure, we can see that about among 67% of the total population, who were
surveyed heard about NiYO’s Global Card and the remaining 33% has not heard about the card.
Through this data, we are able to understand that NiYO is creating more and more awareness and
that has resulted in a positive impact for the company.
Yes
67%
No
33%
CUSTOMERS HEARD ABOUT NiYO CARD
Yes No

c) Percentage of Customers use NiYO Global Cards for International Transactions
Figure-4 Customers use NiYO Card
From the above figure, we can see that about 53% of the total population, who were surveyed used
NiYO’s Global Card and the remaining 47% has not gave a try yet. Through this data, we are able
to understand that people like this card and they try to use NiYO Card over other forex cards.
Used
53%
Not used
47%
Customers use NiYO Card
Used Not used

Chapter 7
Learning from the Project

Chapter 7
Learning from the Project
Through this project, I have learned a lot of things which is otherwise not possible without visiting
NiYO Solutions for my Summer Internship. I would like to thank NiYO team for giving me the
chance. Things which I learned during this 2-month course of time are: -
• Knowledge of the product- You should have the thorough knowledge of the product at
first and what benefits the customer should out of it, or else it is very difficult for you to
answer each and every question of the customer and finally resulting into losing the
customer. So, at Niyo I was given proper knowledge of the product and then I was told to
interact with the customers and channel partners.
• Pitching Style- Pitching style again plays an important factor to sell a product or service.
First of all, I had no idea how to pitch and how to greet them. With frequently meeting and
loads of interaction with the customers helped in improving my pitching style day by day
and now I am confident enough to pitch the customers.
• Confidence- After the detailed knowledge of the product and regularly pitching the
customers helped me to grow my confidence enough to sell the product and generate
revenue for the company.
• Time Management- At NiYO I was given the role of business development so, I had to a
lot of tasks and each task was given a particular time frame to complete. This time frame
helped me to complete each and every task at a particular time limit.
• Work under pressure- There were many such occasions where the pressure was huge,
but I kept calm and polite and handle those situations very well.

• Punctuality- The key point of success is punctuality. I was very punctual to the work given
to me and gave my level best to do that on time and trust me it worked and helped to
achieve my targets on time.
• Negotiations- This skill is very important in sales as the negotiation power is very crucial
in dealing and selling the product and generate revenue for the company.
• Gap Analysis- I was lucky enough to know about how to do the gap analysis, and how to
overcome the gaps by obtaining strategies.

Chapter 8
References

Chapter 8
References
• https://www.goniyo.com/
• https://www.indiainfoline.com/article/news-business/niyo-launches-niyo-
global-travel-card-119041800160_1.html
• https://www.thenewsminute.com/article/b-luru-based-startup-niyo-launches-
unique-global-card-makes-forex-cards-redundant-86291
• http://theketchumkeystone.org/market-research-news/134888/global-smart-
card-market-porters-five-forces-strategy-analysis-and-forecast-2024/
• https://www.livemint.com/money/personal-finance/prepaid-travel-card-with-
no-charges-vs-forex-card-1557761981185.html
• https://www.goniyo.com/faq.html

Appendix: -QUESTIONAIRE
Name-_____________________
Age- ______
Gender- Male Female
Are you a frequent International Traveler?
Yes
No
Which mode of payment do you like to use for International transactions?
Cash
Forex Card
International Debit/Credit Card
Have heard of NiYO Global Card?
Yes
No

Have you used NiYO Global Card for Foreign Expenses?
Yes
No
What is your experience with this Card?
Very Good
Good
Poor
Very Poor
Not used yet
How would you rate your experience with this card?
1 2 3 4 5
How likely would you recommend NiYO Card to your friends or colleagues?
1 2 3 4 5

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