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Digital wallet service in india - Netscribes

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A digital wallet is a virtual web and mobile-based wallet where one can store cash for making mobile, online or offline payments

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Digital wallet service in india - Netscribes

  1. 1. Digital Wallet Market – India January 2016 Insert Cover Image using Slide Master View Do not change the aspect ratio or distort the image.
  2. 2. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  3. 3. 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.
  4. 4. Digital Wallet Market in India 2016 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
  5. 5. Digital Wallet Market in India 2016 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
  6. 6. Digital Wallet Market in India 2016 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
  7. 7. Digital Wallet Market in India 2016 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
  8. 8. Digital Wallet Market in India 2016 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
  9. 9. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  10. 10. Digital Wallet Market in India 2016 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%
  11. 11. Digital Wallet Market in India 2016 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
  12. 12. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  13. 13. Digital Wallet Market in India 2016 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
  14. 14. Digital Wallet Market in India 2016 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
  15. 15. Digital Wallet Market in India 2016 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
  16. 16. Digital Wallet Market in India 2016 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
  17. 17. Digital Wallet Market in India 2016 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
  18. 18. Digital Wallet Market in India 2016 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
  19. 19. Digital Wallet Market in India 2016 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
  20. 20. Digital Wallet Market in India 2016 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
  21. 21. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  22. 22. Digital Wallet Market in India 2016 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
  23. 23. Digital Wallet Market in India 2016 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
  24. 24. Digital Wallet Market in India 2016 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
  25. 25. Digital Wallet Market in India 2016 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
  26. 26. Digital Wallet Market in India 2016 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
  27. 27. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  28. 28. Digital Wallet Market in India 2016 Key Players 27 Other Players Present in the MarketMajor Players
  29. 29. Digital Wallet Market in India 2016 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
  30. 30. Digital Wallet Market in India 2016 It is used for almost all the telecom companies like Airtel, Vodafone, Idea, Reliance, MTNL and others Company Profile – Paytm Mobile Solutions Pvt. Ltd. (2/4) 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
  31. 31. Digital Wallet Market in India 2016 Company Profile – Paytm Mobile Solutions Pvt. Ltd. (3/4) 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
  32. 32. Digital Wallet Market in India 2016 Company Profile – Paytm Mobile Solutions Pvt. Ltd. (4/4) 31 Technology Landscape For the complete report, please write to info@netscribes.com
  33. 33. Digital Wallet Market in India 2016 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 Year of Incorporation 2008 Company Type Domestic Private Company 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 Awards and Achievements: Best Mobile Money Product at the 5th India Digital Awards presented by IAMAI Winner: mBillionth South Asia Mobile Awards 2014
  34. 34. Digital Wallet Market in India 2016 Company Profile – One Mobikwik Systems Pvt. Ltd. (2/4) 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
  35. 35. Digital Wallet Market in India 2016 Company Profile – One Mobikwik Systems Pvt. Ltd. (3/4) 34 Market Strategy Growth Strategy For the complete report, please write to info@netscribes.com
  36. 36. Digital Wallet Market in India 2016 Company Profile – One Mobikwik Systems Pvt. Ltd. (4/4) 35 Technology Landscape Technology Stack For the complete report, please write to info@netscribes.com
  37. 37. Digital Wallet Market in India 2016 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 Year of Incorporation 2011 Company Type Domestic Private Company 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
  38. 38. Digital Wallet Market in India 2016 Company Profile – Citrus Payment Solutions Pvt. Ltd. (2/3) 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
  39. 39. Digital Wallet Market in India 2016 Libraries for all languages, support for web, iOS and Android and Windows Phone Libraries for all languages, support for web, iOS and Android and Windows Phone Libraries for all languages, support for web, iOS and Android and Windows Phone Company Profile – Citrus Payment Solutions Pvt. Ltd. (3/3) 38 Market Strategy Growth Strategy Technology Landscape For the complete report, please write to info@netscribes.com
  40. 40. Digital Wallet Market in India 2016 Company Profile – PayU Payments Pvt. Ltd. (1/4) 39 Company Information Corporate Address 4th Floor, Pearl Tower Plot No 51 Institutional Area Sector 32 Gurgaon, Haryana 122001 Tel No. +91 12 4662 4801 Website www.payu.in Year of Incorporation 2006 Company Type Domestic Private Company 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 Awards and Achievements: 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
  41. 41. Digital Wallet Market in India 2016 Company Profile – PayU Payments Pvt. Ltd. (2/4) 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
  42. 42. Digital Wallet Market in India 2016 Company Profile – PayU Payments Pvt. Ltd. (3/4) 41 Market Strategy Growth Strategy For the complete report, please write to info@netscribes.com
  43. 43. Digital Wallet Market in India 2016 Company Profile – PayU Payments Pvt. Ltd. (4/4) 42 Technology Landscape For the complete report, please write to info@netscribes.com
  44. 44. Digital Wallet Market in India 2016 Company Profile – Oxigen Services (India) Pvt. Ltd. (1/3) 43 Company Overview Company Information Corporate Address Plot No. 94 Institutional Area Sector 32 Gurgaon, Haryana 122001 Tel No. +91 12 4395 0100 Website www.myoxigen.com Year of Incorporation 2003 Company Type Domestic Private Company 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
  45. 45. Digital Wallet Market in India 2016 Company Profile – Oxigen Services (India) Pvt. Ltd. (2/3) 44 Solution Overview Libraries for all languages, support for web, iOS and Android and Windows Phone Recharge • Mobile Phone • Data Card • DTH • Toll Etag or smart card Libraries for all languages, support for web, iOS and Android and Windows Phone Bill Payments • Post-paid Mobile bills • Landline bills • Electricity bills Libraries for all languages, support for web, iOS and Android and Windows Phone Money Transfer • Load Money • Send Money • Withdraw Money
  46. 46. Digital Wallet Market in India 2016 Company Profile – Oxigen Services (India) Pvt. Ltd. (3/3) 45 Market Strategy Growth Strategy Technology Landscape For the complete report, please write to info@netscribes.com
  47. 47. Digital Wallet Market in India 2016 Dynamics in the Competitive Landscape 46 Market Entries Partnerships Trends For the complete report, please write to info@netscribes.com
  48. 48. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  49. 49. Digital Wallet Market in India 2016 Projections 2020 49 For the complete report, please write to info@netscribes.com
  50. 50. Digital Wallet Market in India 2016 Strategic Recommendations 50 Adopt Regional Languages Establish Security Assurance Utilize Social Media Leverage Up- Selling & Cross- Selling Recommendations for Digital Wallet Business For the complete report, please write to info@netscribes.com
  51. 51. Introduction Market Overview Drivers & Challenges Trends Competitive Landscape Strategic Recommendations Appendix
  52. 52. Digital Wallet Market in India 2016 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
  53. 53. About Netscribes, Inc. Netscribes, Inc. is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business & corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes, Inc. is a one-stop shop designed to fulfil clients’ profitability and growth objectives. Disclaimer: This report is published for general information only. Although high standards have been used in the preparation, “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes and prior permission is required for guidelines on reproduction. For the complete report, please write to info@netscribes.com

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