2. Project Title : Citrus – An E-Wallet
1. Executive Summary
2. Situation Analysis
2.1 Company overview
2.2 Market overview
2.3 Target customers
4.1. Target market
4.2. Value proposition
3. Citrus would basically be an e-wallet, one single
place for all your bill payment requirements.
You would have to add your card details in the
app which you could directly use to make a
Currently, in this generation an e-wallet would
be very useful considering the pace at which the
market is growing.
Eventually everyone is preferring e-money also
keeping in mind the effects of demonetisation.
It obviously is an easier way of transaction and
also the core customers and targeted people
would be teens who would prefer technology
taking over their heavy wallets.
4. Offering to Schools/Colleges/Educational Institutions Integration:
Agreement with banks, web & mobile
• Improves cash flow
• Convenience for parents
• Faster transaction
Lead the change in the education sector:
• Enable tech
• Brand awareness
• Cross sell merchandise Convenience for students
• Fee payment
• Online admission forms
• Purchase uniforms, merchandise, books
5. Citrus would be targeting the e-market which has a lot of scope.
It also has a lot of competitors like Paytm and Mobikwik but also has a
great chance of advancement.
Target customers would be mostly teenagers and middle aged people who
love to shop online and make payments using e-wallets.
Schools and Colleges would also play a big part in it.
Big MNC companies can also sell their products online here and it will also
benefit customers as they can not only shop but also pay their bills, all at
The world is increasingly mobile, people want access from wherever they
are, whenever they need.
At Citrus, you have the option of recharging and shopping from whenever,
anywhere and are equipped with a secure online wallet.
Market includes all the
internet users and
Keeping in mind the global
mobile world, Citrus would
be compatible with all
possible platforms including
Android, BBM, iOS and
Citrus will eventually grow into
something that offers a lot
of functionalities in areas
other than its chief purpose
ie Recharges. This makes
app bulky and takes up lot
Processing takes time and fails
Unable to handle the huge
traffic when new offers are
In the world of mobile
commerce, the company
completely relay on the
Smartphone penetrations and
mobile internet access
penetration are required.
11. ● India’s Largest mobile commerce
● Will start off by offering mobile recharge and utility bill
payments and today it offers a full marketplace to
consumers on its mobile app and emerged to be among
top e-commerce businesses
● To Decide what to purchase, search across all verticals,
place the order, pay the amount using Credit card, Debit
card, Net banking or COD, receive the order, return if
not satisfied. As simple as that !
12. Market Description
Market includes all
the internet users
Keeping in mind the
world, Citrus will
with all possible
BBM, iOS and
Based on customer
ratings we can
on Citrus income.
Its major competitors
15. Target is to have a
these big MNC’s and
have such stats.
16. Startup founders translates to a mix of the following:
Financial rewards (cash, equity, a chance at a lifetime of
Behavioural identifiers (a larger cause, impact and
recognition, thrill, freedom to do your own thing).
Lifestyle choices (flexibility and wellness).
Development opportunities (career growth, diversity of roles,
the novelty of work, learning to startup).
17. It will have an e-wallet, recharging and bill payment
service, a bus and movie ticket booking service and an
As expected, the services are known for, wont generate
much revenue. They need funding of around at least
for half a billion dollars are needs to borrow
another Rs 100 crore from any bank .
Initially, we will almost entirely rely on their E-
commerce platform for revenues.
18. The E-commerce model works as such:
When you're a vendor trying to sell, you either pay
an annual subscription fee or a commission (or both) if
you'd like to list your product on their site. If you're an
advertiser, you pay a by-the-click fee to Citrus for
advertising on their platform.
Most tech businesses follow a cash burn model for the
first few years. They seem to have plans for future
revenues (raising that much money would have been
impossible had they not) but for now, this is how they
are seemingly making most of their revenues.
19. In a nutshell, Citrus is the most likely startup to kill peer-to-peer Cash transactions
especially those of small value. The way they intend to do this is to offer a competing
wallet service with low or zero transaction costs, capture essential services online to
build wallet size (recharge phones, bus tickets) and partner where there's an incumbent
The Mobile *is* itself the solution in payments. As far as convenience goes, it has the
potential to disrupt cash. We carry it everywhere, its personal, secure to some degree,
connected and everyone (will) has one. It's the same insight that's driving Apple Pay in
the US; except we're predominantly a cash economy* - closer to what M-Pesa has
achieved in Kenya for the unbanked.
It's also the same insight that got Paypal started before they became what they're
Our initial strategy would be to themselves step in and provide specific services,
especially those with low consumer entry-commitment and high pain-point.
20. Later we will be experimenting with marketplaces, but the speed at which they
moved to nail Uber here in India makes me think carefully about what their
original reasons are for starting up despite the challenges that their up against **.
We will also position ourselves as a (prepaid) payment gateway for e-Merchants,
but I can't imagine anything but p2p payments as the holy grail. Prepaid e-
commerce appears to be low-lying fruit, an early destination in a larger plan or
perhaps just plan B?
So, to conclude. Give a few years and a few lucrative openings to place themselves
as a payments partner in workflows in the real world (over the e-commerce use
case). Our user base saturates consumer markets. On the back of that I can
imagine that the following cash transactions might just be in their range: Payment
to inner and intra-city Cab-drivers, intra-city bus ticket purchase (offline), Auto
Rickshaw, Groceries and eRetail, Cash withdrawal from ATMs, small loans from
friends, paying maids and more.
BookEazy (a service founded in 2006) offered a novel pay-on-arrival service that
allowed movie-goers to reserve tickets against a security deposit and pay for their
tickets at the theatre right before the show. We will deliberately pick this strategy
over others for the same reason - the lowest common denominator is to prefer
cash over plastic.
22. DISCLAIMER : This presentation has been prepared for
the Marketing Internship under the guidance of Prof.
Sameer Mather as the final project by Srikari Sharma,