A Study on Consumer Behavior towards Amazon Pay for Online Transactions, Papers of Effective Business Report Writing

Download A Study on Consumer Behavior towards Amazon Pay for Online Transactions and more Papers Effective Business Report Writing in PDF only on Docsity! A Industrial Training Report On A STUDY ON SECURE WEB TRANSACTIONS Submitted In partial fulfillment For the award of the Degree of Bachelor of Technology in Department of Computer Science and Engineering Submitted To Submitted By Dr. Subhash Chandra Jyoti HOD, CSE 20ERWCS025 Department of Computer Science and Engineering Rajasthan College of Engineering for Women Rajasthan Technical University Session 2023-2024 Candidate’s Declaration I hereby declare that the work, which is being presented in the Industrial Training/Seminar Report, entitled “A STUDY ON SECURE WEB TRANSACTIONS ” in partial fulfillment for the award of Degree of “Bachelor’s of Technology” in Department of Computer Science and Engineering and submitted to the Department of Computer Science & Engineering, Rajasthan College Of Engineering For Women, Rajasthan Technical University is a record of my own investigations carried under the Guidance of Mr. Vinod Todwal, Department of Computer Science & Engineering, RCEW. I have not submitted the matter presented in this report anywhere for the award of any other Degree. Jyoti 20ERWCS025 Rajasthan College of Engineering for Women, Jaipur Counter Signed by Mr. Vinod Todwal Assistant Professor Department of Computer Science and Engineering i Certificate 3.3 Data Collection Method 28 3.3.1 Primary Sources 29 3.3.2 Secondary Sources 29 3.4 Limitations of Study 29 Chapter 4 Data Analysis & Interpretation 30 4.1 Data Analysis & Interpretation 30 4.1.1 Gender 30 4.1.2 Age 31 4.1.3 Ever used Online Application for making online payment 32 4.1.4 Ever used Amazon Pay for making payment 34 4.1.5 Why adopt online payment over physical payment 35 4.1.6 Concern while using e-payment 37 4.1.7 After demonetization use of e-wallet have increased 38 Chapter 5 Conclusion and Suggestions 40 5.1 Conclusion 40 5.2 Suggestions 40 Bibliography 42 iv LIST OF TABLES S. No. Table No. Title Page No. 1 Table 4.1 Interpretation on Gender 30 2 Table 4.2 Interpretation on Age 31 3 Table 4.3 Interpretation on Online App for e-payment 33 4 Table 4.4 Interpretation on Amazon Pay for e-payment 34 5 Table 4.5 Interpretation on e-payment over physical payment 35 6 Table 4.6 Interpretation on Concern while using e-payment 37 7 Table 4.7 Interpretation on e-payment after Demonetization 39 v LIST OF FIGURES S.No. Figure No. Title Page No. 1 Figure 1.1 Various Digital in India 3 2 Figure 1.2 Smartphone Wallets in India 4 3 Figure 1.3 Paytm 5 4 Figure 1.4 Google Pay 6 5 Figure 1.5 Phone Pay 7 6 Figure 1.6 MobiKwik 8 7 Figure 1.7 Yono SBI 8 8 Figure 1.8 MasterPass 9 9 Figure 1.9 BHIM Pay 10 10 Figure 1.10 PAYZAPP 11 11 Figure 1.11 Amazon Pay 12 12 Figure 1.12 Amazon Long Term Growth 13 13 Figure 1.13 Amazon vs Flipkart 14 14 Figure 1.14 What is Amazon Pay? 15 15 Figure 1.15 Growth of Mobile Users in India 19 16 Figure 1.16 Growth of Digital Commerce with increase of mobile payments 20 17 Figure 4.1 Data Analysis on Gender 30 18 Figure 4.2 Data Analysis on Age 31 19 Figure 4.3 Data Analysis on Payment Applications for making e-payment 33 20 Figure 4.4 Data Analysis on Amazon Pay for e-payment 34 21 Figure 4.5 Data Analysis on e-payment over physical payment 35 22 Figure 4.6 Data Analysis on Concern while using e-payment 37 23 Figure 4.7 Data Analysis on e-payment after Demonetization 38 vi Acknowledgement INTRODUCTION INTRODUCTION Now-a-days world is becoming digitalized in every field and one of the best example of this is various countries in the world are moving towards becoming a cashless society. A cashless society is the one which doesn‟t use cash for any of its transaction instead all the transactions are done digitally. There are various countries in the world which have more than 50% of their transactions through cashless methods. According to a study conducted by Capgemini and BNP Paribas, digital payments are expected to reach about 726 billion transactions by the year 2020. In India 98% of the total transactions used to be done through cash but after the Demonetization of the Government on Nov 8 2016, our country has also started getting steered towards a cashless society. Due to the Demonetization act already existing mobile payment applications came into the limelight like Paytm, Google pay, Phone Pe etc. The Digital India program is a flagship agenda of the Government of India with vision to transform India into a digitally empowered society and a knowledge economy. “Faceless, Paperless, Cashless is one of the professed role of Digital India. The Prime Minister of India Mr. Narendra Modi has empowered India to adopt cashless transactions by giving digital payments sector of India a significant boost. The digital payment sector of India experienced a unpredicted growth since Demonetization in November 2016. Digital wallet companies in India has shown a growth of 271% for a total value of US$2.8 Billion i.e Rs 191 crores. A Google- BCG Report had estimated that the digital payment industry in India will experience a growth of US $ 500 billion by 2020. Government of India is also encouraging various digital payment apps such as Aadhaar Payment app, UPI App, Bharat Interface for Money (BHIM) app along with private sector apps like Paytm, Mobikwik, Freecharge etc. Such new apps are beneficial to transfer funds across various parts of our country. Digital payments industry in India is growing on a rapid pace providing a highly attractive platform for foreign investors to invest in India. 1.1 WHAT IS DIGITAL PAYMENT? Digital Payment means when any goods or services are purchased through the use of various electronic modes of payments which means there is no use of physical cash or cheques in digital payment. Now-a-days people use Digital Payments more is because Digital payment methods are easier and more convenient and they also provide customers the flexibility to make the payment from anywhere at any time which proves as a good alternative to the traditional methods of payment and which fastens the transaction cycles. 10 Types of Digital Payment methods in India:- 1. Banking Cards- Debit/Credit / Prepaid Cards. 2 2. USSD (Unstructured Supplementary Service Data). 3. AEPS (Aadhar Enabled Payment System). 4. UPI Mobile (Unified Payments Interface). 5. Mobile Wallets. 6. Bank Pre-paid Cards. 7. POS Terminals. 8. Internet Banking. 9. Mobile Banking. 10. BHIM App (Bharat Interface for Money). 1.2 WHAT IS A DIGITAL WALLET ? An electronic device or online service that allows an individual to make electronic transactions is called a digital wallet. An individual‟s bank account can also be linked to the digital wallet. One in five customers in Asia are now using a digital wallet. Some of the popular digital wallets are PayTM, Freecharge, LIME, Jio Money, Airtel Money, State Bank Buddy, Citrus, Mobikwik, PayUMoney etc. Various Digital Wallets Apps in India:- Figure 1.1 Various Digital Wallets in India 3 Figure 1.2 Smartphones Wallets in India i. PayTM:- PayTM is an Indian e-commerce operator and Financial Technology company. Paytm was founded in August 2010 by its founder Mr. Vijay Shekhar Sharma. In 2014, the company launched its first Digital E-wallet known as Paytm Wallet. Paytm offers Digital wallet payment, mobile payments, online shopping, Paytm Payments Bank etc. In the year 2015, RBI gave Licence to Paytm to launch Paytm Payments Bank which was later inaugurated in the year 2017 by the then Finance Minister Mr. Arun Jaitley. Paytm works in 2 different ways :- Paytm Wallet and Paytm Payments Bank. Paytm is known as a digital payment system which allows you to transfer money through your debit/credit cards and which also allows you to do online banking. Once you register to Paytm you can make online payment of bills or you can make payment through you paytm wallet by first adding money into your wallet. 4 Figure 1.5 Phone Pay iv. Mobikwik:- MobiKwik is also another Indian company app which acts as a digital wallet, as a mobile payments system. MobiKwik is an app founded by Bipin Singh and Upasana Taku in the year 2009. Initially MobiKwik was just a website with closed wallet facility but later started with mobile apps. In the year 2016 MobiKwik launched - Mobikwik Lite app which was for older 2G mobile networks and those with poor network connectivity. MobiKwik launched its first ever Mobile Wallet system in the year 2012. Mobikwik also launched the feature of sending and receiving money through a mobile app. Mobikwik also provides financial services such as providing loans, various insurances such as life insurance, accident insurance, fire insurance as well as mutual funds. In the year 2017, MobiKwik „s biggest competitor was Paytm. According to Forbes India Magazine, in the year 2015 MobiKwik was used by more than 15million users for its unique features and was also claiming of increase of one million users every month. In the year 2016, India had Demonetization during this time Mobikwik had a 400% increase in Financial Transactions. 7 Figure 1.6 MobiKwik v. YONO by SBI:- This mobile wallet application was introduced by State Bank of India. This wallet offers its services in 13 Languages. The word YONO means You Only Need One, this app helps users to access various financial and other services, it acts as a Digital Banking platform which offers various services such as online shopping payments, booking tickets of (train, bus, taxi, flights), it also allows customers to make medical bill payments. YONO app was launched in the year 2017 by Mr. Arun Jaitley, the then Finance Minister of India. This app can also be used by customers to make ATM withdrawals as well as this app can be used to make various fund transfers, etc. Through YONO app a customer can track his/her OD account balance, can even open fixed deposit, recurring deposits, and can even invest in mutual funds. Customers can even track their loans through this app. Figure 1.7 Yono SBI 8 vi. CITI MasterPass:- CITI MasterPass was launched by Citi Bank India and Mastercard. It is India‟s first global Digital wallet. Citi MasterPass safely stores the confidential information i.e the data of customers card and their shipping information is stored in their mastercard. So while making the payment the customer simply has to select the option of „Buy with MasterPass‟ as the payment option while checkout, by doing this the cutomers need not have to fill in all the details. By this feature the risk of customers confidential information can be exposed, as customer are always in need of safe, secure, simple and quick transactions while shopping. CITI MasterPass is present in more than 24 countries worldwide. In today‟s world around 41 % transactions of Citi Bank are performed through online mode because of its secure, safety and innovative services. Figure 1.8 MasterPass vii. UPI BHIM App:- BHIM stands for Bharat Interface for Money. BHIM App is developed by National Payments Corporation of India i.e (NPCI) and it is based on Unifies Payment Interface i.e (UPI). Our Prime Minister Shri Narendra Modiji had launched this app. BHIM App was launched on 30th December 2016 and is currently available in 20 languages. BHIM App accepts all Indian banks which works on UPI system and which is built over IMPS i.e Immediate Payment System which allows the user to transfer money to Bank accounts of any two parties. Using UPI system user can make transactions in an easy, quick and simple manner. Through BHIM App users can do the various services:- i. User can Send money. ii. User can Request money, for this it is mandatory that the users mobile number be linked with the bank account using. iii. For quick transactions users can Scan and Pay. 9 iv. Additional feature of BHIM App is that it allows the customers to check their transactions history. Figure 1.11 Amazon Pay Amazon offers various products and services such as:-  Alexa, Amazon Fresh.  Amazon Prime.  Echo, Kindle, Fire Tablets and Fire TV.  Amazon Digital Game store.  Amazon Wireless. Amazon web services. Amazon follows four important principles and they are:- i. Customer Obsession rather than Competitor Focus. ii. Passion for Invention. iii. Commitment for Operational Excellence. iv. Long-term Thinking for the Company as well as for the Customers. Various Goals of Amazon are as follows:- i. Supporting Small Business:- Amazon provides a platform to small traders, businessmen, entrepreneurs to grow their sales and an opportunity to reach customers. In today‟s world more than 1.9 million business, traders, and developers use Amazon as a way to develop their business and reach customers to increase their business. ii. Creation of Jobs:- Amazon has more than 45,000 employees in its hometown i.e in Seattle. Amazon plans to create 1million jobs in India by 2025 through investing in the Indian market in technology, in infrastructure etc, which will be an addition to the 7 Lakh jobs the company has provided over a span of 6 years in India. 12 iii. Sustainability:- Amazon is committed to sustainability as its good for the business as well as to the society, the customers and the communities. Amazon uses 10,000 electric delivery vans to deliver their products as this will save tons of carbon every year, this proves that amazon conducts business in a sustainable and lawful manner. iv. Community:- Amazon is always focused on providing basic necessities to the under privileged, homeless people. Amazon has also supported tens of thousands of under - represented writers by providing them grants of about $ 10 million from the Amazon Literary Partnership since 2009. v. Investment:- Amazon has invested over $ 270 billion in the U.S which includes the infrastructure, job creation, economic investment in innovative services for a better future. 2,000,000 jobs were granted to people in the U.S. Figure 1.12 Amazon Long Term Growth The above graph the Long-Term growth of Amazon i.e their Revenue and their Net Income over the years. In this graph the number of years taken are from 1997 to 2019, so the above figures are only for these years. In the initial years i.e in 1997 both the net income as well as the revenue is the same. In the year 2019, the Net income is $11.59 billion and the Revenue is $280.52 billion. The above graph shows that Amazon in the year 2019 is making a profit, and the profit has been increasing since the year 2005. The graph below shows the difference between the GMV i.e the Gross Merchandise Value or Gross Revenue of both Amazon and Flipkart from the Financial year 2015 to 2018 in India. 13 Figure 1.13 Amazon vs Flipkart 1.4 WHAT IS AMAZON PAY ? Amazon owns Amazon Pay, it is an online payment processing service which was launched in the year 2007. The service of Amazon Pay is available in total 18 countries in the world. There is no registration fees for Amazon Pay. Amazon Pay has undergone various changes on its evolution so that the payment process would become more quick, simple and efficient for the customer. Amazon pay does not share the card details with the merchants to avoid theft and fraud. Amazon Pay gives the option to the user to pay with their amazon pay account to external or third party websites. Amazon pay can be used on both in Amazon app as well as in third party e-commerce websites/apps. Amazon pay can be used to make the payment from grocery shopping to smart home appliances etc. How does Amazon Pay works on third-party websites? The third-party e-commerce website can add Amazon Pay as a payment option while checkout process. 14 customer to the seller. ii. Easy Return and Refund Policy :- Through Amazon Pay users are benefitted by easy and faster refunds, various offers like cash-backs up to 15% (maximum Rupees 450) only on those payments which are done by Amazon Payments, and maintain gift-card balances as well. iii. Decent Discounts:- Amazon Pay offers decent discounts and offers on various apps like Redbus, Freshmenu offer, JustTickets offer, Housejoy offer which creates a huge saving opportunities for customers. For its customers, Amazon offers EMI based schemes as well. iv. A-Z guarantee plan and protection:- Amazon is known for continuously innovation for better customer satisfaction and protection of retailers and customers. Amazon also protects its customers by lending A-Z guarantee on its products which acts as an extra safety for its customers. Amazon pay has Amazon‟s 100% buyer protection guarantee which it provides to its customers. v. Streamline your checkout:- A research has shown that 28% of the shoppers have stopped using online carts is because of complicated and lengthy checkout process in various apps. So by using amazon pay as a payment method a customer saves the time of adding further payment details as it is already saved with amazon. This helps in seamless checkout process and saves the time of customers. vi. Manage Bank accounts:- Amazon pay allows a customer to add cash up to Rs 20,000 per month. A customer can manage the amazon pay account by adding a new credit/debit card to your account. A customer can also manage bank account in case of refund. 1.5.2 Disadvantages of Amazon Pay:- 1. It doesn‟t eliminate your security risks:- The security of your Amazon Pay Balance depends on the security of your smartphone. If your device is not protected by some kind of password, then it will prove a threat to your Amazon Pay Balance. Even if your device is not secured by some anti-virus then also it can be a threat to your amazon pay account. 2. It could encourage reckless spending:- Some people struggle with their reckless spending habits when the money is electronically-based instead of physical form. People tend to spend more while paying through E- Wallets. 3. It is not fully available worldwide:-In December 2016, just 36% of retailers accepted Apple Pay and 34% of retailers accepted PayPal as a form of payment, and just 25% accepted MasterPass as a form of payment. Still across globe E-wallets are not much preferred by either retailers or customers. 4. Inconvenient for Offline users:- Online payment methods like Amazon pay. Google pay, paytm etc are useless for offline users i.e internet connectivity is very important for your transaction to become successful. A 17 customer cannot use theses apps if he/she does not have strong network connection. Internet and serverproblems can prove inconvenience to complete online payment transactions. These are some of the advantages and disadvantages of using Amazon Pay. 1.6 IMPORTANCE OF CASHLESS TRANSACTIONS 1. There is no fear of robbery or theft:- When physical cash is in large amount it is difficult to carry cash as there is danger of theft, but in cashless transaction this fear is eliminated. 2. Tracking of expenses:- When the transactions are done in cashless way through e-wallets or internet banking we can keep a track on all our expenses which becomes easier to determine how much is our total expenditure. With the help of cashless transactions a customer can make payments in exact denominations i.e if you have to pay Rs 299.89 you can pay the same when you use cashless mode of payment. 3. Transparency and accountability:- In cashless economy as there is more currency in the bank which means there is more currency in circulation, which means greater liquidity and there is less scope of hiding income which eventually leads to lower interest rates which leads to better economic development of the country. 4. No tension about counterfeit currency:- Every economy in the world faces the problem of counterfeit currencies, while the government is taking stringent actions against counterfeit currencies but the common people are the ones who suffer in these counterfeit currencies. But when an economy adopts cashless or digitization then the hassles about handling counterfeit currency is sorted. 5. Easier Accounting and Easier transactions:- By going cashless customer can complete a transaction in a more convenient manner than before and can complete the transaction with increased security. A customer can do direct bank to bank transactions without physically transferring or depositing the cash to the bank this saves time, money and efforts. 6. Decrease in cost and Economic growth:- If the whole nation will go cashless then there will be decrease in cost for printing of notes. RBI spends around Rs 12,000 crores on replacement of Rs 500 and Rs 1000 notes. By going cashless there will be improvement in government monetary policy and government revenue as well as there will be greater transparency and efficiency in the economy. These are some of the importance of cashless transactions. 18 1.7 FUTURE OF DIGITAL PAYMENTS IN INDIA Figure 1.15 Growth of Mobile Users in India Smartphone and mobile phone users, internet users as shown in the above projections are increasing with the increase in population in India. The above graph is compared between two years i.e 2015 and 2020. With greater access to internet and growth and development of infrastructure and greater usage of smartphones there is significant development of digital payments in India. India is witnessing exponential growth in Digital payment industry as India is considered as the second largest in the world in case of mobile users with a Billion connections in the country. In India nearly 1.5 billion transactions take place every single day and most of these transactions are P2M transactions i.e person to merchants which means purchases like grocery, newspaper, mobile recharges, DTH recharges, ticket bookings, cab booking etc. Easrlier in the year 2015 all the transactions were cash transactions now it is estimated that by 2023 transactions in India will be more digitally and will rule the market with the increasing number of smartphone and internet users. By the year 2025 in India it is estimated that cashless transactions would be 80 % and the volume of the digital transactions would reach up to $ 1 trillion. In India it will take time to become a completely cashless society as it will require the support and understanding by the public and various initiatives by the government. In India the lack of digital literacy and education in rural areas can be a hindrance towards a cashless society. It is very important to encourage people to adopt cashless modes of payment by giving various cash back offers which is been provided by the payment apps whether private or government initiated payment applications. By 19 CHAPTER 2 REVIEW OF LITERATURE 2.1 REVIEW OF LITERATURE:- 1) According to Mamta, Prof. Hariom Tyagi and Dr. Abhishek Shukla(2016) The article entitled “The Study of Electronic Payment Systems”. This study aims to identify the issues and challenges of electronic payment system and offer some solutions to improve the e-payment quality. The successful implementation of electronic payment system depends on how the security and privacy dimensions perceived by consumers as well as sellers are popularly managed in turn would improve the market confidence in the system. 2) According to Sujith T S, Julie C D(2017) The article entitled “Opportunities and Challenges of E-Payment System in India”. This study aimed to identify the issues and challenges of electronic payment systems and offer some solutions to improve the e-payment system. E-Payment system not only provides more opportunities but many threats also. The study found that, the reach of mobile network, Internet and electricity is also expanding digital payments to remote areas. This will surely increase the number of digital payments. 3) According to Sanghita Roy and Dr. Indrajit Sinha (2014) The article entitled “Determinants of Customer‟s Acceptance of Electronic Payment system in Indian Banking sector”. The objective of the study was finding out the most popular electronic payment system among the various payment options. This study also analyzed the level of awareness and the usage of E-payment technologies. The main aim of the study was to determine all the factors influencing the customer‟s adoption with Technology acceptance model. The study was based on primary data. The data was collected through a structured questionnaire by means of survey and also focused on a group of 30 respondents. The result of this study was 4 Factors which contribute towards the strengthening the E-payment system in India and those are- Innovation, Incentive, Customer convenience and Legal framework. 4) According to Ashish Baghla (2018) This research paper titled “A Study on the Future of Digital Payments in India” focused on the adoption of Digital payments in India. This paper identifies the problems or challenges faced by the people of India in adopting Digital modes of payment. One of the objectives of this study was to find out the attitude of the people towards the adoption of digital payment in India. The research methodology used in this research i.e the data is collected from both the primary and secondary sources , the primary has been collected through a questionnaire from 110 people. The paper concluded that the efforts by the government to make India cashless is going well but it will take time for India to become completely cashless as there are various 22 challenges which the government has to take care of. 5) According K. Suma Vally and Dr. K. Hema Divya (2018) This research paper titled “ A Study on Digital Payments in India with perspective of consumers adoption.”focuses on the analysis of the level of adoption of these digital payments by the consumers. The research methodology used that is the data collected is a primary data and is collected through a structured questionnaire and the results has been collected through 183 respondents. The research tool used to analyze the data is Chisquare technique. The main objective of this study was to verify the customers perception on Digital Payment with the concept of Digital banking in our country. This study also suggested that appropriate measures should be taken to create awareness about various technology and security of the usage of digital payments in India. 6) According to Prof. Sana Khan and Ms. Shreya Jain (2018) This research titled “A Study on Usage of E-payments for Sustainable Growth of Online Business” focuses on the on the frequency and the problems faced by consumers while using online payment methods. The researchers also examined the effect of e-payments contribution towards the sustainability of the business growth in India, these were the main objectives of this research paper. The research conducted is a descriptive research and the primary data was collected through a structured questionnaire send to users of epayment methods and the sample size was 100 participants which was collected random sampling technique. The tools used in this research was Pivot tables and frequency. The findings of this research suggested that the users of e- payments have increased and it has become more popular and that majority of the users used online payments because of coupons and discounts in those transactions. 7) According to Priyanka. S. Kotecha (2018) The research paper titled “An Empirical study of Mobile Wallets in India” focuses on the meaning of M-Wallet and highlights the advantages and disadvantages of M-Wallet in India. The researcher studied various categories in Mobile Wallets in India. The research methodology used for data analysis in this research is a conceptual study and also descriptive in nature. In this research paper it is also shown the growth of Mobile wallets in India from the year 2012 till the year 2016. The paper concluded that mobile wallets are growing rapidly mainly because of convenience in transactions and various shoppers are also demanding mobile payments because of which mobile wallets are growing in forthcoming years. 8) According to Pawan Kalyani (2016) The research paper titled “An Empirical Study about the Awareness of Paperless ECurrency transaction like E- wallet using ICT in the Youth of India” this paper stresses on the paperless transactions that is getting popular all over the world in the form of Digital Wallet. In this research the researcher also analyzed the various types of e-wallets in the world and also various Indian e-wallets services. The researcher is trying to 23 analyze all the information on the awareness and usage of various e-wallets by the Indian market. The data collected for this research was through a structured questionnaire and after examining the result of this survey it was concluded that Digital wallets which are associated with online businesses are popular but those which are associated with the banks are doing fine. The paper concluded with the suggestion that thepractical usage and the awareness of these digital wallets should be increased by adding more value added services to these wallets for better efficiency. 9) According to Dr Hem Shweta Rathore (2016) The study titled “Adoption of Digital Wallet By Consumers” focuses on the factors which influence customers decision about using digital mode of payment for a particular transaction. The researcher also tried to analyze the various risks and challenges faced by the customers while using various digital wallets. The data was collected through a structured questionnaire which was responded by 132 respondents. This research used Quantitative method ANOVA for getting the statistical result from the respondents. The researcher also gave some suggestions like to educate the consumers about the benefits of using digital wallets as a payment mode. This research paper concluded that Digital wallets will quickly become popular mode of payment as it is convenient and will gain huge widespread acceptance in the market. 10) According to Dr S. Manikandan and J.Mary Jayakodi (2017) The research titled “An Empirical study on Consumers Adoption of Mobile Wallet with special reference to Chennai City” focuses on to explain the usage of mobile wallets and this paper also states the challenges faced by the users while using various mobile wallets which affects the decision of consumer adoption of mobile wallets. For this research a structured questionnaire was prepared and through which a total of 150 responses were collected. This study stated the various types of E-wallets which is given by the RBI. This study used ANNOVA as a research tool to analyze and to get the statistical result from the collected data. The researcher concluded the paper with the fact that users are satisfied with the usage of mobile wallet and the challenging factors to the users are the security and the safety of funds during a transaction. The paper also concluded that convenience in shopping , brand loyalty these features also play an important role in the adoption of mobile wallets by the consumers. 12) According to Rachna and Priyanka Singh (2013) The research paper titled “Issues and Challenges of Electronic payment systems” aims to identify the issues and challenges faced while using electronic payment systems and this paper also offer some solutions to improve the quality of e-payment system. This paper stated some issues such as lack of security, lack of trust in such payment services by the consumers, lack of awareness by the consumers, online payment services are not feasible in rural areas of our country. This paper also stated some of the measures to handle those problems such as encryption, digital signature, firewalls, and can request for more identification in case of any doubts. The paper concluded with the facts that e-payment systems can be successful if the 24 The null hypothesis states that there is no relation between the variables. The alternative hypothesis states that there is relation between the variables. The Hypothesis designed should help us to find if there is any relation between the variables that is being studied in the research project. The study on the topic is based on 1 Hypothesis:- Hypothesis 1:- H0: There is no significant relationship between Amazon Pay and consumer satisfaction. H1: There is significant relationship between Amazon Pay and consumer satisfaction. 3.2 TYPES OF STUDY There are various types of study for doing a research and they are:  Quantitative Research:- Quantitative research is based on the measurement of quantity or the amount. It is applicable to the phenomena that can be expressed through quantity. Quantitative research is used to solve problems through numbers. It is a systematic investigation by collecting quantifiable data and performing mathematical and statistical techniques.  Qualitative Research:- Qualitative research is concerned with qualitative phenomena which means the quality or the kind. This type of research is used in behavioural sciences in which it is important to find the underlying motives and desires of human behavior. Qualitative research can be applied using words, feelings, emotions etc.  Applied Research:- Research can be applied (action) research which aims to finding the solution for an immediate problem facing by the society or any business organization. In applied research the main aim is to find the solution to a particular problem.  Empirical Research:- Empirical research is based on experience or observations. It is research which is based on data which is capable of being verified by experiment so it can be called as an experimental research . In this type of research the researcher should get the facts, data or the evidence to prove or disprove his hypothesis.  Analytical Research:- In Analytical research the researcher has to use already available facts, information, data and analyze them to draw a critical evaluation on the material. 27  Descriptive Research:- This type of research includes surveys and fact-finding enquiries of various kinds. The main characteristics of this research is that the researcher has no control over the various variables of the research and can only report of what has happened or what is happening. In social science and business and finance we often use descriptive research and descriptive research is studied by taking various Review of literature in the research project. The best advantages of conducting descriptive research is that we can study both the qualitative aspects of the research as well as the quantitative aspects. This research is based on Descriptive study as it studies both the qualitative and quantitative aspects of online payment applications . Descriptive research is used to understand the concept behind the topic and to find the problems faced on the research. However my research also studies various Review of literature which acts as a base for the study. In this research various online payments applications are studied and focus is given to Amazon Pay and my research analyses consumer behavior towards online payment applications. 3.2.1 SAMPLE SIZE Sample size refers to the number of respondents or participants or observations which is included in the research. This is the term which is used to define the subjects of the study which is selected from the entire population for the specific study. Sample size is an important feature in the entire research as through this we understand the strength of our study i.e the respondents. Correct sample size can give accurate results. The sample size in this research is 80 respondents from the area Kandivali to Virar so this becomes our sample size. As the sample size is small to study the topic there may be slight inaccuracy of data which is further stated in the research. 3.2.2 SAMPLE DESIGN Sample design is classified into 2 types:- Probability sampling and non-probability sampling. Probability sampling is also known as random sampling or chance sampling in which every item has an equal chance of inclusion in the sample. The result obtained from probability sampling or random sampling can be assured in terms of probability. Non-probability sampling is also known by deliberate sampling, judgement sampling. In this type of sampling items for the sample are deliberately selected by the researcher. For the purpose of this research I have used probability random sampling for collecting responses as fixed set of questions were asked to a small set of respondents. 3.3 DATA COLLECTION METHOD Data for the study was collected from primary as well as secondary sources. 28 3.3.1 Primary Sources of Data Collection – For this research primary source of data collection was done by survey method. The survey was conducted through Structured Questionnaire which was asked to the respondents. The questionnaire was prepared keeping in mind the objectives of the study and also the hypothesis of the study. The questions asked to the respondents were close end so that the respondents could answer quickly without any problem. The questionnaire was prepared with the help of Google forms. The questionnaire was divided in to 2 main parts i.e the age, gender and other details of the respondents and the questions relating to the topic. 3.3.2 Secondary sources of Data Collection:- Secondary sources of data means the data that is already available on various platforms. Secondary data can be obtained by various publications by the central or the state government or by any organizations, journals, books,, magazines, and even newspapers, reports published by various organizations, schools, universities etc. This type of data collection is used to gain more knowledge of the topic of our research by collecting articled by authors who have previously researched on the topic that we have selected. In this study secondary data was collected through various websites, online journals, which helped in completing the review of literature. Secondary source of data collection was useful to understand the research topic more accurately. 3.4 LIMITATIONS OF THE STUDY There are certain limitations to every research as in research cannot cover all the aspects of the topic cannot be covered and because of certain uncontrollable factors and variables limitations arise in a study. Limitation of the study reduces the accuracy of the research project. Here are certain Limitations of this study:-  This research was carried in a shorter period of time with limited geographical areas into consideration.  Some of the respondents did not answer the questions accurately with interest.  The sample size was small and constraint, the research would have been accurate if the sample size was more.  For this research the scope of discussion was limited, the research could have been in more depth. 29 CHAPTER 4 Table 4.2 Interpretation on Age INTERPRETATION The above diagram is a pie-chart showing the age of our respondents. The options set for this age 15 to 30 years, 31 to 45 years and 46 to 70 years. The total number of respondents between 15 to 30 years are 45 respondents. The total number of respondents between 31 to 45 years are 46 respondents. The total number of respondents between 46 to 70 years are 20 respondents. The percentage of the number to respondents in each category is Between 15 to 30 years the percentage of respondents is 40.54%. Between 31 to 45 years the percentage of respondents is 41.44%. Between 46 to 70 years the percentage of respondents is 18.02%. 4.1.3 Have you ever used online payment application for making payments? 32 Figure 4.3 Data Analysis on Payment Applications for making e-payment Table 4.3 Interpretation on Online Application for e-payment INTERPRETATION The above diagram is a pie-chart diagram showing the results of the question asked to the respondents that have they ever used online payment applications such as amazon pay or google pay or paytm etc. The two options were Yes and No and the data received are as follows:- The total number of respondents who have used online payment applications is 108 respondents. The total number of respondents who have never used online payment application is 3 respondents. 2 respondents didn‟t answered this question. Out of 100%, 97.30% of respondents are familiar with the usage of online payment applications and 2.70% of respondents are not familiar with the usage of online payment applications. 33 This means that majority of our respondents have a good knowledge and experience about how to use various online payment applications. 4.1.4 Have you ever used Amazon pay for making payments? Figure 4.4 Data Analysis on Amazon Pay for e-payment Table 4.4 Interpretation on Amazon Pay for e-payment INTERPRETATION The above diagram is a pie-chart which shows the result of the question asked to our respondents that have they ever used amazon pay for making any payments. The options are Yes and No and the answer received are as follows:- The total number of respondents who had used amazon payment for making payments is 101 respondents and only 8 respondents had not used amazon pay for making payments. 34 Through the above interpretation it can be stated that respondents have various benefits that they receive when they use online payment over physical payments. 4.1.6 What is your biggest concern while using e-payments? Figure 4.6 Data Analysis on Concern while using e-payment Table 4.6 Interpretation on Concern while using e-payment INTERPRETATION The above pie-chart represents the responses on the question what is the biggest concern while using e- payments and the respondents have answered to the question with various options an d they are:- 37  Total 17 respondents feel transaction failure is their biggest concern while using epayments and the percentage for the same is 15.60 %.  Total 32 respondents feel Fraud or theft is their biggest concern while using e-payments and the percentage for the same is 29.36 %.  Total 25 respondents feel Security issues is their biggest concern while using e-payments and the percentage for the same is 22.94 %.  Total 23 respondents feel Privacy concerns is their biggest concern while using epayments and the percentage for the same is 21.10 %.  Total 12 respondents feel Transaction charges is their biggest concern while using epayments and the percentage for the same is 11.01 %. Out of 100%. From the above interpretation it can be observed that respondents have various concerns while doing online payments. 4.1.7 Do you think after demonetization the use of e-wallets have increased? Figure 4.7 Data Analysis on e-payment after Demonetization 38 Table 4.7 Interpretation on e-payment after Demonetization INTERPRETATION The above pie-chart represents the data received from the respondents to the question asked to them that do they think after demonetization the use of e-wallets have increased. And the responses are as follows:-  Total 34 respondents strongly agree that after demonetization the use of e-wallets have increased and the percentage for the same is 31.19%.  Total 48 respondents agree that after demonetization the use of e-wallets have increased and the percentage for the same is 44.04% .  Total 17 respondents are neutral that after demonetization the use of e-wallets have increased and the percentage for the same is 15.60%.  Total 9 respondents disagree that after demonetization the use of e-wallets have increased and the percentage for the same is 8.26%.  Total 1 respondents strongly disagree that after demonetization the use of e-wallets have increased and the percentage for the same is 0.92%. 39