Digital wallet service in india - Netscribes

Digital Wallet Market – India
January 2016
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Introduction
Market Overview
Drivers & Challenges
Trends
Competitive Landscape
Strategic Recommendations
Appendix

Digital Wallet Market in India 2016
Executive Summary
3
• Total number of digital wallets as of April 2015 is xxx.x million, according to Reserve Bank of India (RBI) data
• In FY 2014-15, m-wallet transactions registered a growth of more than XXX% as compared to previous year
• About X.X crore transactions worth INR X,XXX crore were recorded through digital wallets in April 2015 compared with X.X crore payments
totaling INR XXX crore in February 2015
Market
Overview
Drivers &
Challenges
Drivers
• Cashless Transactions & Digital Payment
• Smartphone Penetration & Popularity of Internet and Mobile Apps
• Ease of e-Commerce
• Digital India Initiatives and Increased Security in Mobile Payments
Challenges
• Digital India Initiatives and Increased Security in Mobile Payments
• Privacy & Transaction Security
• Infrastructure Inadequacies & Market Entry
Trends
• Cloud-based Digital Payment
• IoT and Wallet
• Wearable Payments – Commerce of Things
• Proximity Payments – Contactless Adoption
• Retail Innovation & Retailer Apps
• Virtual Crypto-currencies
• Paytm Mobile Solutions Pvt. Ltd.
• One Mobikwik Systems Pvt. Ltd.
• Citrus Payment Solutions Pvt. Ltd.
Competitive
Landscape
• PayU Payments Pvt. Ltd.
• Oxigen Services (India) Pvt. Ltd.

Digital Wallet – Overview
4
• A digital wallet is a virtual web and mobile-based wallet where one can store cash for making mobile, online or offline payments
• Digital wallet is a new concept in India that has been surpassing credit card usage and is slowly beginning to replace the traditional payment methods
• Mobile wallets are enabling economies to transition to a cashless society. Mobile wallets started with phone recharges, then extended their services to DTH recharges and bill
payments
• Over 250 financial-tech start-ups were founded in 2013 and 2014, and in the last 1.5 years raised $X.X billion in funding
• Many major tech giants, such as Apple, Google, and Samsung, have wallet solutions of their own
Types of Digital Wallets
Closed Mobile Wallets
Semi-Closed /
Semi-Open Wallets Open Wallets
• A closed mobile wallets can be used
only for that particular company’s
goods and services, that it belongs to
• No third-party redemption or cash
withdrawal is possible with such
wallets
• E-commerce companies offers this
type of wallets, where a certain
amount of money is locked with the
merchant in case of a cancellation or
return of the order occurs, or gift
cards are rewarded as promotion
• Semi-closed and semi-open wallet
can be used to transact for goods
and services at specific merchant
locations that have the required tie-
up or contract with the wallet
issuing company to accept payments
• It also do not allow redemption or
cash withdrawal
• Airtel Money is a semi-open wallet,
while PayTM is a semi-closed one
• Open wallets allow one to buy good
and services, withdraw cash at ATMs
or banks and transfer funds, and
transfer money to other accounts
linked by cellular numbers
• Such wallet service can only be
provided jointly with a bank
• Example: M-Pesa by Vodafone and
ICICI

Digital Wallet – Consumer Usage
5
Although recharge and bill payment gave rise to the concept of digital wallet in India, globally, rising online transactions played significant role as consumer objective
Health and Lifestyle Services
Transport and
Conveyance
Online Food
Ordering
Money Transfer and Utility
Bill Payment
Online Shopping Movie and Concert Tickets
Retail Payments
Online Grocery
Shopping

Digital Wallet – Application Stages
6
Multiple stages of application is possible with Digital wallet as fundamentally software-based payment environment provides a gamut of opportunities for the same
Pre-Purchase
• Pre-purchase capabilities enable consumers to identify products or solutions that they would like to buy and provide incentives
• These capabilities include offers and coupons that are driven by location, loyalty based services – including gift cards and rebates
During Purchase
• These include NFC based and QR code based payment services/facilities, along with traditional online payment checkout using wallet
Post-Purchase
• Ability to manage payment details after a purchase
• These capabilities include transferring of payment to another card and expense management
• It could include the ability to purchase a warranty for large purchases, signing up for loyalty programs
• Post-purchase is also a great time for providing cross sell/up sell features

Digital Wallet – Technology Elements
7
The capability and versatility of digital wallets depend on the availability of technological elements, not only on the service provider’s side, but also on the consumer’s side, in the absence
of which a lot of features could be inaccessible to the latter
Service Provider Side
Mobile Elements
Payments
Technology
Trusted Service
Manager (TSM)
• The technology relative to mobile devices and the associate
wireless carriers at present is largely based on 2G technology
(GSM/EDGE) and 3G technology (UMTS/HSPA) standards
• Newest technology available is Long Term Evolution (LTE) or 4G
standard
• Primary elements of technology include Near Field
Communication (NFC), Secure Element (SE), and Trusted Service
Manager (TSM)
• Use of NFC is limited to a 424 kilobits per second data transfer
rate, and supports communication ranges up to approximately
0.2 meters
• It offers no native encryption so mobile payments using NFC must
be coupled with a Secure Element which is a cryptographic
module in the mobile device
• It handles transactions from a single financial institution to act as
an interface to the payments ecosystem
• Manages business rules, authentication
• Connects MNOs and service providers
• Guarantees end-to-end security; manage secure element key
• Manages Application life cycle for MNO, hand-set & customers
Smartphone
Technology
Security Features
Payment
Settlement
Mechanisms
• It includes app stores, digital cameras, GPS
tracking, graphical representations of the wallet,
and real-time connectivity to financial institution
• Secure Elements
• Fingerprint Scanners
• Tokenization
• NFC
• Bluetooth Low Voltage
• QR Codes
• Beacons
Consumer Side

Digital Wallet Ecosystem
8
Digital wallet ecosystem, due to its connected and multi-platform nature, involves varied participants across financial services providers, telecom companies, technology companies,
retailers & merchants, and so on
Merchants
and Retailers
Mobile Network
Operator
Payment
Processors
Payment Service
Providers
Handset
Manufacturers
Card Issuers
Card Network
Companies
Influence
Engine Service
Provider
POS Providers
and Equipment
Manufacturers
Technology
Companies
NFC Chip
Manufacturers
Value Added
Service Providers

Market Overview – Digital Payment Scenario
10
Digital payment activities saw significant boost in India primarily due to the emergence and popularity of e-commerce platforms
• According to RBI data, quoted in The Economic Times, the country saw more cashless transactions
than paper-based ones in FY15
 While paper-based transactions cleared through cheques amounted to INR 85,00,000 crore in
FY15, paperless transactions, including retail electronic transactions such as ECS (electronic
clearing system) debits and credits, electronic fund transfer, card transactions, mobile
transactions and prepaid instruments, were to the tune of INR 92,00,000 crore in the same
period
• The mobile commerce (m-commerce) market, worth $2 billion in 2014, is expected to grow by XX%
to $XX billion by 2019
 The number of users making online transactions was expected to increase from XX million in
2011 to XX million in 2015
• Digital payment were majorly inclined towards activities such as money transfers and recharge and
Bill payments in FY14
Money Transfer
Recharge and
Bill payments
Utility
Others
E-commerce transactions via
mobile phones in India (2014-15):
XX%
Transactions through digital
payments in India (2014-15):
XX%

Market Overview – Digital Wallet
11
Digital Wallet Market Size & Growth
2014E 2015E 2016F 2017F 2018F 2019F 2020F
+XX.X%
INR Cr.
• Total number of digital wallets as of April 2015 is 101.86 million, according to Reserve Bank of India (RBI) data
• While over a dozen startups are chasing the digital payments opportunity, mobile services providers such as Vodafone and Airtel too think there's a massive market to be tapped;
conventional banks themselves are working overtime to keep in step with this change
• In FY 2014-15, m-wallet transactions registered a growth of more than XXX% as compared to previous year
 About 6.7 crore transactions worth INR 1,196 crore were recorded through digital wallets in April 2015 compared with 2.4 crore payments totaling INR 876 crore in February
2015
• Digital wallet is majorly used on the smart devices such as smartphones and tablets, accounting for more than XX% of the mobile wallet transactions, followed by PC
• Mobile wallets are regulated by the Reserve Bank of India (RBI) except for those which are used for transactions with a single merchant
• In 2015, digital wallets have surpassed credit cards in terms of the number of users in India
 For instance, Noida-based Paytm alone has XX million active users. The number is higher than the cumulative number of credit cards in India

Drivers & Challenges – Summary
13
MarketDriversMarketChallenges
Cashless Transactions &
Digital Payment
Smartphone Penetration &
Popularity of Internet and
Mobile Apps
Ease of e-CommerceDigital India Initiatives and
Increased Security in Mobile
Payments
Accessibility & Lack of Confidence Privacy & Transaction
Security
Infrastructure Inadequacies &
Market Entry

Drivers – Cashless Transactions & Digital Payment
14
• Mobile wallets are the foundation stone of a future cashless payment era. It helps to exchange money virtually which eliminates the need to carry cash
• Dependence on network operators and the complexity in sending SMS to enable payments have been minimalized with modern mobile based payment procedures
• Users are now sending and accepting donations, tips, gifts, payments and rewards on a dozen social media platforms
• There has been an increase in people paying through different digital payment platforms due to convenience and time saving
• 50% of Indian smartphone users belong to the 18-30 years demographic has also led to a higher growth curve for digital payments
Mobile-based Payments
INR bn
XX
XX
XX
XX
2012 2013E 2014E 2015E

Drivers – Digital India Initiatives and Increased Security in Mobile Payments
16
The government’s push for Digital India
and financial inclusion has driven
mobile wallet adoption in the rural and
semi-urban areas by extending
financial services to the unbanked
population
Mobile wallets are safe to use with
security technologies such as biometric
authentication

Drivers – Smartphone Penetration & Popularity of Internet and Mobile Apps
15
• In India, the number of smartphones grew XX% during 2014, reaching XXX million in number. The number of smartphones is expected to grow XX-fold between 2014 and 2019,
reaching XXX million
• The number of tablets grew XX-fold during 2014, reaching XX million in number and is expected to grow XX-fold between 2014 and 2019, reaching XX million
• Smartphone is becoming the preferred medium for money transactions due to the convenience it provides on the go
• India has the third largest Internet user base in the world out of which more than XX per cent are mobile-only internet users
• The number of internet users in India was expected to reach XXX million by December 2015, registering a growth of XX% over 2014. About XXX million of these will access internet
from their mobile devices.
• There were around 82 million 3G subscribers in India by the end of 2014
• Vast majority of the population spend a lot of time on mobile apps and new audience portals like messaging and social media apps, the mobile wallet can see a major transformation
by including a social, peer-to-peer dimension to its services

Drivers – Ease of e-Commerce
15
Mobile wallet provides good discount,
cashback and coupons
Mobile wallets have made it easy to carry
out online shopping payments, online utility
bill payments, mobile recharge online, DTH
recharge online, online bus / movie ticket
booking, etc.
Ease e-commerce websites, competitive
pricing, and special offers provided by the
same time to time attracts consumers
significantly

Challenges – Accessibility & Lack of Confidence
17
There are new technologies and new
entrants as well as a complex supply
chain that will increase the security
risks from customers point of view
Understanding the mobile wallet
payments market and ecosystem is
critical in addressing the security
challenges
A key challenge with gaining user
adoption of mobile banking and
payments is the customer’s lack of
confidence in security of the services
In India, mobile wallets are not accessible
to all because a considerable percentage of
our population doesn't own smartphones
or live in areas with no internet
connectivity

Challenges – Privacy & Transaction Security
18
Privacy of user information is a particularly
challenging issue as mobile devices are much
more personalized and tied to the user’s
identity than a traditional computer.
Risks related to legitimate applications
passing user data to other applications or
3rd parties in an unauthorized manner is
gaining more attention in the public
arena
For every transaction by mobile wallet, users put their information on
risk just like they do each time when they use any online service. There
has always been a threat of hacking of personnel information.
Major Security Risks: Malware, Malicious
applications, Privacy violations relative to
application collection and distribution of
data,, SMS vulnerabilities, Hardware and
Operating System vulnerabilities, Complex
supply chain and new entrants into the
mobile ecosystem, Lack of maturity of
Fraud tools and controls
The mobile wallet companies must ensure that
their systems are secure and customers'
information is well protected

Challenges – Infrastructure Inadequacies & Market Entry
19
The payments infrastructure can also have vulnerabilities that lead to security risk
A key process for mobile wallet payments is the ability to securely provision, deprovision, and re-provision secure elements. User must
maintain security during each of these processes as each presents a possible opportunity for attackers to intercept sensitive account
information
A complex infrastructure leaves the consumer with little control over the risks involved in mobile wallet transactions
With the advancement of technology, to create a unique selling proposition in term of features would be extremely difficult for the new players

Technology Trends – Cloud-based Digital Payment
21
• Cloud-based payments enables to perform NFC card emulation without using a hardware Secure Element (SE) in mobile handsets
• Earlier, Mobile-payments were depended on the hardware SE to store secure credentials on mobile phones (or SIMs) which forced issuers to work on a single platform owned by
another entity (TSM – Trusted Service Managers and Mobile Network Operators)
• NFC Host Card Emulation (HCE) support in Android (in Oct 2013) provided issuers with an easy and cost-effective alternate to accelerate the introduction of NFC services
• Issuers (Banks) can create their branded NFC wallet apps and use cloud-based digital cards to make EMV-compliant payments at the PoS (point of sale)
• HCE has given control over payment issuance and UX (user experience) back in the issuers’ hand, which were earlier dependent on other stakeholders
• It provides an open and flexible platform
• Allows issuers to design their own mobile wallet user experience and
ability to stay in full control of branded wallet app
• Freedom to act independent from MNOs and OEMs / TSMs
• Cuts extra cost-burden and shortens time to market wallets apps
• Minimal ecosystem dependency
• It is also now endorsed by VISA and MasterCard
Benefits
• Security
 Traditional SE approach is somewhat complex however it is much
better equipped to deal with fraud and hacking attacks
 Use of Tokenization and other advanced methods (on-device
software) can potentially make HCE more secure
• Complicated Payment Process
 HCE is lot simplified since fewer stakeholders are involved so
issuers won’t lose control
• Generic Tokenization
 Common tokenization solutions replaces the real card data with
randomized account details
 These tokens represent actual account details stored in the cloud.
The actual cardholder data is not stored in phone memory
 The card data becomes so generic that processors can’t identify if
card accounts are linked to rewards programs
Challenges

Technology Trends – Cloud-based Digital Payment
22
• Cards Transaction
• Other commercial and
non commercial
transactions using the
wallet
• Merchant data
• Social Media
• Campaigns
• Big Data
• MGM
• ETL, Data clean up and
warehousing
• Web analytics
• Data Visualization tools
• BI tools
• Predictive
• Prescriptive
• Descriptive
• Optimized
• Decisive
• Filters
• Triggers
• Reports
• Dashboard
• Personalized marketing
• Location based offers
• Fraud prevention and
alerts
• Coupons
• Loyalty and reward
points
• Best card usage
recommendation
Data Source
Mobile Wallet
Capabilities
Cloud-based digital payment uses a plethora of technology tools, which easily integrates with cloud environment, and provides multiple layers of data operation and usage,
including analytics, security, affiliated promotions, visualization, and so on

Technology Trends – IoT and Wallet (1/2)
23
Start-ups have an equally great
opportunity at this intersection of
mobility, money and commerce
that IOT payments present
Visa opened an office with over 500
employees to ensure that every
device, appliance or wearable
computer connected to the Internet
can become a secure place for
commerce
Card issuers like MasterCard, Visa
and American Express will gain from
increased non-cash transactions
and the wide database of the
customers
Integration of Internet and
connectivity into increasingly more
devices along with payment
functionality will lead to greater
number of payment endpoints
They are expected to grow 200 fold
in 7 years to $3 trillion and will
benefit IT, telecom, banking and
mobile wallet companies
Mobile payments will form 10% of
the total payments in India which
was just 0.1% in 2015
By the year 2020, 50 billion devices
will be connected to the Internet
globally
In 2014, consumers used 2.8
devices as part of their shopping
experience on average and In 2015,
the average devices used are 5
PayPal’s app for wearables
• The PayPal app lets consumers make mobile
payments, store and utilize rewards, and send
money to other app users
PayPal’s App for Wearables
• The PayPal app lets consumers
make mobile payments, store and
utilize rewards, and send money
to other app users
Payments Apps on Pebble
• The Pebble Smartwatch has a collection
of apps on its app store, some of them
enabling users to make mobile payments
• The app creates an auto-generated code
for making PayPal payments
• LevelUp’s payment platform powers a
payment app for smartwatch developed
by Beautiful Lab
Banks Participation
• Banks have also started foraying into
the IoT space by introducing apps
for smart-watches such as on Apple
Pay and Pebble

Technology Trends – IoT and Wallet (2/2)
24
NXP & Qualcomm Technologies Intel & Ingenico
• Qualcomm Technologies will integrate NXP’s near field communication (NFC) and
embedded secure element (eSE) solutions across its Snapdragon processor family
• The partnership will enable the rapid introduction of NFC and eSE on Snapdragon-
based devices to meet market demands for increased functionality in a broad range of
consumer applications
• MasterCard is working with NXP and Qualcomm to help companies implement
contactless payments capabilities
• Intel Corp. has partnered with Ingenico Group to combine technologies for IoT
with secure payment facility
• The companies will jointly develop a mobile tablet that supports EMV and NFC
payment functionalities
• This will pave the way to a broader set of initiatives and value-added services to
address other worldwide devices for the Internet of Things, including intelligent
vending machines, kiosks and digital signage
Fintech companies are developing customized platforms to integrate IoT with payment applications:
MasterCard’s Platform
• MasterCard is planning to build an
operating system for digital
commerce
• It is also working on new
verification techniques to enable
smooth payments for the future
technology
Visa
• Visa partnered with Pizza Hut and
Accenture to test mobile and online
purchases on the go
• The connected car is expected to
feature Visa Checkout, Visa’s online
payment service, cellular connectivity,
Bluetooth low energy (BLE), as well as
beacon technology deployed at Pizza
Hut restaurants to alert the staff on
customer’s arrival for pick up orders
American Express
• American Express is planning to
deliver financial services via
wearable devices
• It enabled its service to enable
payments through the fitness band
Jawbone

Other Trends
25
Wearable Payments – Commerce of Things
• The new forms of payment is enabling increasingly
frictionless payments
• The ‘Internet of Things’ is becoming the ‘Commerce
of Things.’
Proximity Payments – Contactless Adoption
• With rising contactless adoption, the point-of- sale
(PoS) readers in place is accelerating towards the use
of Near Field Communication (NFC) transactions
Mobile Wallets – End-to-End Purchase Integration
• In digital commerce, pre and post purchase activities
such as search, comparison, selection, payment, and
rewards are operating together in digital wallets
Virtual Crypto-currencies
• It is highly anticipated that digital currencies will be
used interchangeably with legal tender, creating a
new payment system that will expand beyond the
existing financial ecosystem
Real-time Payments
• It is enabling new business models, including
immediate availability of funds after online loan
approval
Cloud-based Payment Solutions
• The likes of Apple iTunes, MasterCard Cloud Based
Payments have made cloud-based payment available
to Indian consumers as well, where cards are being
registered once in the cloud and then re-used within
these applications to make payments when a
purchase is made
Retail Innovation & Retailer Apps
• Consumers are being given option to switch
between channels such as mobile, Internet and
shops to complete a purchase

Key Players
27
Other Players Present in the MarketMajor Players

Company Profile – Paytm Mobile Solutions Pvt. Ltd. (1/4)
28
Company Information
Corporate Address
B-121, Sector – 5
Noida, Uttar Pradesh - 201301
Tel No. +91 12 0477 0770
Website www.paytm.com
Year of Incorporation 2009
Company Type Domestic Private Company
Key People
Vijay Shekhar Sharma (Founder & CEO)
Jaskaran Kapany (VP – Marketing)
Varun Khullar (Head – Payments Bank Partnerships)
Vikas Purohit (Senior VP)
• Paytm, a subsidiary of One97 Communications, received the mobile wallet service
license from the Reserve Bank of India in 2014
• It is available across popular mobile apps such as Bookmyshow, Uber,
MakeMyTrip and FoodPanda, and so on, as a preferred payment method
• It claims to command 80% market share among wallet users in India
• Paytm manages more than 30 mn orders monthly for digital and physical goods
• In less than 15 months of launch, it has acquired 50 mn mobile wallet users with
more than 16 mn unique transacting wallets per month
• It has around 100 million users till august 2015 and they carry out over 75 million
transactions every month. It target a user base of 500 million wallet users by
2020
Awards and Achievements:
Paytm won the Frost & Sullivan
India ICT Award for Mobile
Commerce Company of the Year
in B2C segment
One97/Paytm recognized among
Smart Innovators of 2014 at the
Inc. India Awards
Paytm Wallet gets the Best
Digital Wallet Award at IAMAI'
India Digital Awards in 2015
Company Overview

It is used for almost all the telecom companies like Airtel,
Vodafone, Idea, Reliance, MTNL and others
29
Solution Overview
• Paytm offers Online Mobile Recharge, DTH Recharge, Electricity Bills, Data cards, Landline Bills, Gas Bills, Add Money to Paytm Wallet, Send Money to Friends, Bus Tickets, Coupons
and online shopping
• The wallet can be topped up using debit cards, credit cards, net-banking, and IMPS merchant payments
• It allows consumers to buy mobile recharges, tickets, deals and shop across 18,000 merchants covering sectors such as fashion, electronics, holidays, hotels, among others
It also does DTH recharges for Airtel DTH, Dish TV,
Videocon D2H, Tata Sky and other operators also
It is absolutely free and the users can shop from innumerable
number of products across hundreds of categories
It is used for data card recharges for BSNL, Tata Photon
Plus, Reliance Net Connect and more
It also provide Chat and Bargain feature. This feature
offers bargain option directly with sellers over chat
Paytm is the only wallet that supports bookings on IRCTC

30
Market Strategy
Growth Strategy
Investment Strategy
China's Alibaba Group and affiliate Ant Financial investing USD680 mn in Paytm
For the complete report, please write to info@netscribes.com

31
Technology Landscape

Company Profile – One Mobikwik Systems Pvt. Ltd. (1/4)
32
Company Information
Corporate Address
2nd Floor Orchid Centre , Golf Course Road Sector 53
Gurgaon, Haryana 122002
Tel No. +91 94 6644 6644
Website www.mobikwik.com
Key People
Bipin Preet Singh (Founder & CEO)
Upasana Taku (Co-Founder & Head – Business Development
& Merchant Ops
• MobiKwik has started as a wallet and then moved into a recharge portal
• Its user base is around 25 million with 50,000 retailers and more
• MobiKwik has achieved more than 300% growth in user base over last year and its
revenue has been growing at the rate of 600% annually
• MobiKwik has also tied up with large and small time grocery, restaurants and other
offline merchants
• MobiKwik received the coveted PrePaid Payment Instrument license from the
Reserve Bank of India on 18 July, 2013
• MobiKwik is first company to have tied up with offline retailers and brick-and-
mortar stores
• Two lakh users paid offline using MobiKwik wallet. The company has a deep
penetration in rural India due to Store King association
Company Overview
Best Mobile Money Product at
the 5th India Digital Awards
presented by IAMAI
Winner: mBillionth South Asia
Mobile Awards 2014

33
Solution Overview
• MobiKwik lets its users add money using debit, credit card, net banking and even doorstep cash collection service, which can in turn be used to recharge, pay utility bills and shop at
marketplaces
• The MobiKwik Wallet claims to enable users to pay in a flash for their recurring mobile recharge, bill payments and online purchases on popular online shopping portals
Association

34
Market Strategy
Growth Strategy

35
Technology Stack

Company Profile – Citrus Payment Solutions Pvt. Ltd. (1/3)
36
Company Information
Corporate Address
3rd Floor, Viraj Building, Above HDFC Bank Branch SV Road
Khar (West) Mumbai, Maharashtra 400052
Tel No. +91 87 6770 9900
Website www.citruspay.com
Key People
Jitendra Gupta (Founder, CEO & MD)
Satyen V. Kothari (Founder & MD)
• Citrus Pay is a popular e-wallet app for cash storage, payments and money
transfers
• Citrus provides Online Payment Solutions, Mobile Payments, Payment Processing,
Seamless Checkout Experience, Faster and Safer Checkout Experience for
Customer, Higher Transaction Success Rates
• Citrus has three business lines : Payment processing, Enterprise payment SaaS
solutions, Consumer payment services
• Citrus works closely with 35+ banks and operates a RBI approved digital wallet
• Citrus Pay currently has a network of 4000+ merchants and a 15 million registered
user base.
• Besides tying up with online service providers from varied sectors, they are now
collaborating with Woohoo, a gifting and shopping portal to let its customers shop
at more than 5000 offline stores listed with them
• The Company has a strong investor base such as Sequoia Capital, Beenos, and E-
Context Asia, among others
Citrus clients include organizations like Airtel, Make My Trip, PVR, Indigo Airlines, Fun Cinemas, Delhi Metro, Meru Cabs, Healthkart, Lenskart, Sundirect, Tata AIA, Star Health, Kidzania,
Zivame among others
Company Overview

37
Solution Overview
• Citrus provides Online Payment Solutions, Mobile Payments, Payment Processing, Seamless Checkout Experience, Faster and Safer Checkout Experience for Customer, Higher
Transaction Success Rates
Association

Libraries for all languages, support
for web, iOS and Android and
Windows Phone
Windows Phone
Windows Phone
38
Market Strategy
Growth Strategy

Company Profile – PayU Payments Pvt. Ltd. (1/4)
39
Company Information
Corporate Address
4th Floor, Pearl Tower Plot No 51 Institutional Area Sector 32
Tel No. +91 12 4662 4801
Website www.payu.in
Key People
Ashish Kashyap (CEO & Director)
Rahul Razdan (President – Products & Ops)
• PayU India is the flagship company of Naspers group established in 2013
• PayU India serves more than 4000 merchants including leading e-commerce
companies like Goibibo, Rechargeitnow, Jabong, Snapdeal, Bookmyshow, Ferns n
Petals, Tradus, Travelyaari, Zomato Groupon India etc.
• PayUmoney is the consumer business of PayU India and has wallet solution for
consumers and payment acceptance solution for SMB businesses
• PayUmoney has wallet solution for consumers and payment acceptance solution
for SMB businesses
• Customers can enjoy a secure transactionsat more than 65,000 websites and
merchants using PayUMoney
In Jan 2015, PayU received CISO
awards for OSSEC implementation
In 2014, PayU received the Ekomers
award for the best payment solution
in Poland
Company Overview

40
Solution Overview
In order to differentiate themselves from other players, they provide a wide range of benefits that include one-touch check out and discounts/cashback offers on every
transaction made
This e-wallet also provides instant refunds on order cancellations and buyer protect to ensure the right purchase and customer satisfaction
It provides an online payments solution for anyone who wants to collect payments in India; be it Individuals, brick and mortar start-ups, freelancers, schools, hotels, utility
companies, residential societies, telcos, insurance companies, traders or retailers
It has rebranded both its products PayU Enterprise and PayUmoney to establish them as clear independent businesses
PayUmoney is the consumer brand of PayU India and has a wallet solution for consumers and payment acceptance solution for SMB businesses. It is a wallet solution for
customers and is accepted by merchants including the likes of Bookmyshow, Jabong, Goibibo, Dominos
PayU Enterprise will now be called PayUbiz to distinguish between its enterprise business and its customer brand, PayUmoney
PayU Enterprise now PayUbiz is a payment gateway solution provider used by more than 70 of the top 100 ecommerce companies. PayUbiz is used by large enterprises such as
Snapdeal, Jabong, Bookmyshow, Ola, Cleartrip, Redbus, GoIbibo, Zomato, among others

41
Market Strategy
Growth Strategy

42

Company Profile – Oxigen Services (India) Pvt. Ltd. (1/3)
43
Company Overview
Company Information
Corporate Address
Plot No. 94 Institutional Area Sector 32
Tel No. +91 12 4395 0100
Website www.myoxigen.com
Key People
Pramod Saxena (Founder, Chairman & MD)
Ankur Saxena (Technology & Innovation Mentor)
Oxigen Wallet claims to be
India's first and largest
payment solutions
provider
Oxigen Wallet is India's first RBI
approved non-bank wallet to
be integrated with NPCI
allowing instant money
transfer from the Wallet to
60+ banks and vice versa
using the Immediate
Payment Service (IMPS)
Oxigen Wallet is available as a
mode of payment on more
than 2000 websites like Book
My Show, Dominos, IRCTC,
eBay, Zapak, Godaddy.com
and many more
Oxigen has a retail footprint of
more than 1,30,000 outlets
pan India and more than 35
million transactions on a
monthly basis

44
Solution Overview
Windows Phone
Recharge
• Mobile Phone
• Data Card
• DTH
• Toll Etag or smart card
Windows Phone
Bill Payments
• Post-paid Mobile bills
• Landline bills
• Electricity bills
Windows Phone
Money Transfer
• Load Money
• Send Money
• Withdraw Money

45
Market Strategy
Growth Strategy

Dynamics in the Competitive Landscape
46
Market Entries
Partnerships
Trends

Projections 2020
49

Strategic Recommendations
50
Adopt Regional
Languages
Establish Security
Assurance
Utilize Social
Media
Leverage Up-
Selling & Cross-
Selling
Recommendations for Digital Wallet Business

Sources of Information
52
Primary Research
Secondary Research
Print Media
Electronic
Media
Company
Website
Open Sources
Premium
Databases
Leading
Newspapers
Annual Reports
of Companies
Magazines and
Journals
Leading Industry
Manufacturers
Industry Experts
Telephonic
Interviews

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Digital wallet service in india - Netscribes

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