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E wallet

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Introduction of E-Wallets, its types, Advantages,Disadvantages, Examples of E-Wallet,Needs of E-Wallet, Top E-Wallets in World and in India, Description of Mobikwik, its Steps, Architecture of transfer between two wallets, About Paytm, How does Paytm Earn, Recharge on PayTm, Steps to use Paytm, Web Technologies of Paytm, Good at Paytm and Bad at it, Our own proposed system to overcome the disadvantage of existing system

E wallet

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Ayushi Shah
Bhakti Shah
 E-wallet is an online prepaid account where one can stock
money, to be used when required.
 As it is a pre-loaded facility, consumers can buy a range of
products from airline tickets to grocery without swiping a
debit or credit card.
E wallet
 The sites where e-wallet services are available generally have
the following few easy steps to get started.
 Ease of use without having to enter your debit/credit card
details for every online transaction.
 Instant cashless payment, no need to swipe a credit card or
debit card.
 They also provide option for securely storing your Card details,
thus providing you additional security at the same time
reducing your work to type in Credit or Debit Card numbers
each time you intend to transact online.
 For some sites there is no minimum amount and you can
deposit an amount as low as Rs 10.
 Get reward and discount offers on every purchase using
wallet.
 Get extra cashbacks for every amount spent using wallet.
 The money will be refunded in case of failure in the
transaction
 You can pass on the benefits of your e-wallet to your friends
and family as well. There is no chance of a decline of payment
since e-wallet is a prepaid account.
 No need to access your bank account for making e-payment.
 Companies must ensure that their customers' information is
encrypted and well protected. One of the biggest concerns of
adopting a digital wallet application is "will my information be
safe"? This is the hurdle that companies must face and as a
result, must develop security systems that are as safe and full
proof as possible to avoid potential security issues.
 You cannot redeem your money back from the wallet you need
to make purchase to use this money.
 If you lose your mobile your wallet is lost.
 You can use wallet till your mobile battery lasts.
 It may be possible that you will end up spending more money
using wallet.

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E wallet

  • 2.  E-wallet is an online prepaid account where one can stock money, to be used when required.  As it is a pre-loaded facility, consumers can buy a range of products from airline tickets to grocery without swiping a debit or credit card.
  • 4.  The sites where e-wallet services are available generally have the following few easy steps to get started.  Ease of use without having to enter your debit/credit card details for every online transaction.  Instant cashless payment, no need to swipe a credit card or debit card.  They also provide option for securely storing your Card details, thus providing you additional security at the same time reducing your work to type in Credit or Debit Card numbers each time you intend to transact online.  For some sites there is no minimum amount and you can deposit an amount as low as Rs 10.
  • 5.  Get reward and discount offers on every purchase using wallet.  Get extra cashbacks for every amount spent using wallet.  The money will be refunded in case of failure in the transaction  You can pass on the benefits of your e-wallet to your friends and family as well. There is no chance of a decline of payment since e-wallet is a prepaid account.  No need to access your bank account for making e-payment.
  • 6.  Companies must ensure that their customers' information is encrypted and well protected. One of the biggest concerns of adopting a digital wallet application is "will my information be safe"? This is the hurdle that companies must face and as a result, must develop security systems that are as safe and full proof as possible to avoid potential security issues.  You cannot redeem your money back from the wallet you need to make purchase to use this money.  If you lose your mobile your wallet is lost.  You can use wallet till your mobile battery lasts.  It may be possible that you will end up spending more money using wallet.
  • 7.  NFC, NFC-HCE(Host card emulation), Cloud, QR code, SMS, or  BLE (Bluetooth low-energy) enabled.  Big data, analytics included.  Biometrics included.  User can manage and operate credit, debit, transport, loyalty and gift cards.  Bluetooth low-energy beacons integrated with geo-fencing.  Recommendation engine that tailors according to the user’s purchase history.  Integrated Customer insight manager.  Integrated Trusted service manager.
  • 8.  Follow the steps given below to use e-wallet.  Step -1 Download mobile wallet or e-wallet application  Step-2 Register and create new wallet by providing information  Step-3 Load money in your wallet from your bank using credit card or debit card  Step-4 Make a payment using e wallet
  • 10.  Closed Wallets : Closed mobile wallets can be used only for that particular company (or online merchant) goods and services. No redemption or cash withdrawal is possible with such wallets. Examples of closed wallets would be the ones offered by MakeMyTrip, Jabong, etc. where your respective MakeMyTrip or Jabong account gets credited with the refund amount in case of any order cancellation or product return.
  • 11. Semi-closed wallets also do not allow redemption or cash withdrawal. They can be used to transact for goods and services (inclusive of financial services) at several different merchant locations that have the required tie-up (contract) with the wallet issuing company to accept payments. For example, Paytm, MobiKwik, PayUMoney, Oxigen, etc. are all semi-closed wallets and they are perhaps the most widely used mobile wallets in India currently.
  • 12. Open Wallets are those that allow redemption as well as cash withdrawals (from automated teller machines / business correspondents) in addition to the other features offered by semi-closed ones. A perfect example is the Vodafone powered M-pesa wallet.
  • 13.  You can use your e wallet at multiple places authorized by respective e wallet service provider. However, few common place this wallet can be used are –  Utility bill payment  Mobile recharge  DTH recharge  Online grocery stores  Online travel portal  E-commerce portal
  • 16.  Square will provide you a card reader that will work perfectly with your iPad, iPhone or Android Smartphone.  Plus, Square lets users create an online store, from which customers can make purchases. Visa, MasterCard, Discover, American Express etc. are supported by Square card reader.
  • 19.  Basically Mobikwik stores your money in a virtual wallet whose data is stored somewhere in Cloud which can be accessed only by your Mobikwik username and password.  With M-Wallet, Mobikwik aims to simplify the way we do online payment in India.
  • 20.  Once you have loaded money/cash in Mobikwik Wallet through Debit card/Credit Card/Netbanking/ IMPS or Cash in hand  You need not to worry about entering your Debit/Credit number, CVV number, Expiry Date and ATM PIN/3-D digital Secure or OTP to make payment using Mobikwik Wallet to mobikwik partner websites  Most of the time where paytm struggles to fetch the mobile operator and all of its e-commerce content. Mobikwik done recharging mobile in just 5 seconds even on 2G network.
  • 21.  Mobikwik has partnered with various online shopping websites like ebay, myntra, shopcules and infibeam, Book Movie tickets, Book Bus tickets, Order and pay pizza using wallet which is fast, reliable and secure.  Mobikwik runs various offers like cashback/coupons/promocode on using one of its partner website. Like 25% cashback on booking movie tickets to your wallet.
  • 22.  It's absolutely secure! CC Avenue and Zaakpay are the payment gateway partners. All the transactions are executed safely and no personal information regarding your payment is ever accessible to any employee or third party.
  • 24.  Open MobiKwik app on your Android device.  Sign into your account and navigate to My Account > Transfer Money. If you do not find this option, update your MobiKwik app to the latest version on Google Play Store.  Now, you will find two options : Send Money or Request Money. Choose the one needed.  Enter the recipient’s email ID or mobile number.  Enter the amount and confirm the details.  You will be sent an OTP (One Time Password) to your registered mobile number to confirm this transaction.  Once you initiate the transfer, the recipient will be notified about this transaction and he/she will be sent an OTP too and asked to confirm the transaction  Once he/she confirms the transaction at his/her end, the transaction would be completed successfully.
  • 30. One97 Communication’s Company India’s Most Trusted Mobile Recharge Destination
  • 31.  Paytm is an e-commerce platform  Owned by One97 communications  Started by offering mobile recharge and utility bill payments, now offers a full marketplace to consumers on its mobile app.  They have 122 mn registered users and 75 Million orders per month.
  • 32.  Founded 2010  Headquarters Noida, Uttar Pradesh  Founder Vijay Shekhar Sharma  Investors ANT Financial Services Group, Personal Investment by Ratan Tata
  • 33. Mobile and its related accessories Electronics Men’s and women’s fashion apparels Home and kitchen equipment Sports accessories Cars and bikes accessories Automobile accessories Baby kids and children toys
  • 34. Mobile Recharge DTH Recharge Data Card Recharge Electricity bill Recharge Landline bills payments Gas bill Payments Financial Services Metro Card Recharge Water Bill Payment Broadband bill payment
  • 35. Movie Ticket Booking Hotel Booking Flight Ticket Booking Bus and Train Ticket Booking Providing Gift Cards Booking of Cars and Bikes with exclusive offers
  • 38. Paytm Revenue Model ADVERTISING REVENUE MODEL SUBSCRIPTION REVENUE MODEL ADVANCE PAYMENT MODEL COMMISSION REVENUE MODEL TRANSACTION REVENUE MODEL
  • 39.  In this model paytym allow to merchants shows their advertisement on paytm websites and charges some amount for this advertisement.this is the way the paytm used to generate their revenue. This method for generate revenue are covered under the advertising revenue model.  This model is more beneficial for paytm to generate their revenue.the charges are charger by them they advertised their product on paytm site.  The yippee noodles show their advertisment on the paytm site and thet paid some money to paytm . this is a way paytm generate the revenue from the advertisment revenue model.
  • 41.  Paytm also use the subscription model. They charge the subscription amount from the seller annually and generate their revenue. they categorized their subscription into four categories all are mention and discuss early in this project. They charge annually maintenance charges also as a commission that is RS 2500. This whole process is comes under the subscription model of paytm through them they generate their revenue. The subscription model is most beneficial for paytm because all the seller who are register themselves into paytm all are paid subscription charges to run their business in paytm site. Basically the paytm adopt the paid circulation subscription revenue model to generate the revenue in their business.this is the most beneficial model as comparative to others model to generate the revenue.
  • 43.  In this model paytm received the interest on the payment of customer until they are not transfer the money into seller account. When the paytm received amount from the customer they are not instantly transfer on seller account. They hold the amount and gain the interest on this amount. Through this process paytm generate their revenue from the advance payment revenue model.  This model is very beneficial for paytm to generate the revenue this all process is also called escrow account process.
  • 44.  IN this model paytm charge commission from the seller for their listed product in paytm websites. And they charge commission on every sale on the site of paytm from the seller. This commission is totally based on the sell of the product if buyer buy the product from the paytm site so paytm charge the commission from the seller for each sell in their website. Through this process paytm generate their revenue. The commission based model are also beneficial for generate the revenue .the commison based model are also trend in ever e- business site, paytm also adopt this revenue model to generate their revenue.
  • 46.  Paytm escrow: through escrow account paytm received intrest,when buyer payment to their purchase that amount hold by paytm untill customer not confirm it.if customer not confirm in next 7 days paytm expect buyer satisfied with the product and they transfer the money seller account.  Paytm earn by advertising other products on websites.  Patym charges annual subscription fees to the sellers who list their products on website  Introducing Paytm Wallet, a secure digital wallet where you can store money and use it to make quick recharges, pay bills, do shopping on Paytm. You can also send money to friends & pay for various services like Uber, MakeMyTrip, BookMyShow & many more
  • 47.  Easy Accessible:  The paytm side easy to accessible they are much easy as compare to other site people are like them for their easy accessible specialty .paytm also available on the mobile, tablets, laptops , and for paytm the high speed data connection is not required .it is easily work on mobile without any problem.  Chat Facility:  Paytm provide chat facility to their buyer so they can bargain the product price from the seller..through very easy steps they can avail the facilty of paytam chat facility. This screen shot define how a customer bargain to the seller:
  • 49.  paytm service is also available in mobile so you can easily download and use this application in your mobile anywhere. On other hand we can say that it’s a mobile friendly application. They are available on many store:
  • 50.  paytm uses many trusted software for their security purpose they used many security application they provided best security when any transaction are done, they uses 256 bit of encryption for their security purpose.
  • 51.  Their digital wallet are approver by the reserve bank of India(RBI). So people are trusted on their paytm wallet service. That means They follow all the rules and regulation they are required to work e-wallet.  They provide 45+ banks for net banking.(one of the largest Payment Gateways in India.)  You canalso Rs 1 lakh plus money transfer (follow the KYC(know your customer ) rule and regulation) otherwise its RS 10000 .
  • 69. • JAVASCRIPT SERVER SIDE PROGRAMMING LANGUAGE • JAVASCRIPT CLIENT SIDE PROGRAMMING LANGUAGE • HTMLMARKUP LANGUAGE • UTF-8: UTF-8 (8-bit Unicode Transformation Format) is a variable-length character encoding for Unicode, which is backwards compatible with ASCII. CHARACTER ENCODING • External Cascading Style Sheets define style rules in a separate CSS file. EXTERNAL CSS
  • 70. EMBEDDED CSS • Embedded Cascading Style Sheets define a set of style rules in a <style> element within a web page. INLINE CSS • Inline Cascading Style Sheets define style rules directly within an (X)HTML element using the style attribute. SESSION COOKIES • Session cookies are temporary cookies, which are deleted when the user closes the browser. HTTPONLY COOKIES • Http Only cookies are used only in the HTTP protocol and not in client side scripts, which may increase security. NON-HTTPONLY COOKIES • Non-Http Only cookies are used in the HTTP protocol and also in client side scripts, which may be a security threat.
  • 71. SECURE COOKIES • Secure cookies are used only via an encrypted connections, which may increase security. HTTP STIRCT TRANSPORT SECURTIY • HTTP Strict Transport Security (HSTS) defines a mechanism enabling web sites to declare themselves SSL CERTIFICATE AUTHORITY • GeoTrust is a SSL certificate authority owned by Symantec. This includes SSL certificates issues by the certification branch of Equifax, which was acquired by GeoTrust. WEB SERVER • NGINX - Nginx (pronounced as "engine X") is a lightweight open source web server. • NODE.JS - Node.js is a server-side JavaScript environment for writing network programs such as web servers. TOP LEVEL DOMAIN • .COM - Commercial entities
  • 72. •Ecommerce platform Paytm has its association with Alibaba group to enable Indian sellers to source products from China and other countries going ahead at cheaper rates as well as help them with logistics and payments. •The company has identified about 25-30 Indian merchants with a credible track record to incubate under categories including home and kitchen, micro innovation including USB cookers, etc, fashion and mobile accessories and western fashion to begin the pilot. •Paytm clarified that the company's focus remains on scaling its B2C commerce business and this move is more in-line to help sellers source effectively and get better margins. •Sellers who source using Paytm ties are allowed to sell on other marketplaces as well including Flipkart, Snapdeal, Amazon, ShopClues.
  • 73. Good at Paytm Bad at Paytm  Easy accessible  Quick payment at paytm  Mobile friendly  Cashbacks  Discount on products  RBI approved digital wallets  Safe and secured payment  45+ Banks for net banking  Rs 1 lakh + money transfer  Doesn’t provide option to write reviews about products.  Doesn’t provide personalised support.  Poor customer support
  • 74. Own Proposed System to overcome disadvantage of existing system