Payment Gateway

At

IndiaMART InterMESH Limited

A PROJECT REPORT
EXECUTIVE SUMMARY
This report covers the various aspects of payment gateway options available in India. It provides an
insight to the costing details along with the other concerned features.
An endeavour has been made to give the statistical and logical dimension to the research.
Meanwhile straight forward comparison has been shown to directly interpret the cost differences.
Going through the report, one will realize that an equal inclination has been established towards
the macro factors like security problems, integration issues, etc.

It is necessary to have an Indian Bank account for integration with any of the Indian Payment
Gateway vendors

It is necessary to have an registered Indian entity to open an Indian Bank account

NetBanking – ECS, NEFT form a major chunk of online e-commerce transactions in India

Operating through PayPal may not be a good option because of the latest news on operational
discrepancies developed between them and Reserve Bank of India (RBI) and also they support only
credit-cards which is a smaller chunk of the online transaction in India

India as an e-commerce market offers two prominent ways to do the business - 2nd party systems
as followed by HDFC & ICICI and 3rd party systems followed by other organizations like CCAvenue,
BillJunction, etc. A detailed analysis of each and every payment gateway option has been obtained
and presented to further equip the testimony.
With an aim to prove as assistance for evaluating the best alternative, we hope that this report
serves its purpose to its fullest extent.
Table of contents

S r . No . Content P a g e No .

1 I NT RO D UC T I O N 10

2 C O MP A N Y P RO F I L E 22
R E VI E W O F L I T E R AT U RE -
3 C U S T O ME R S AT I S F A CT I O N 57

4 R E S E AR CH ME T H O DO L O G Y 68

5 O B J E CT I V E , S C O PE AND RA T I O N AL E 69
OF STUDY

6 D A T A A N AL YS I S AN D I NT E RP R E T AT I O N 80

7 F I N DI NG S 88

8 L I MI T AT I O NS O F T H E S T U DY 89

9 C O N CL US I O N A N D RE CO ME N D A T I O NS 91

10 A C H I E VE ME NT S 93

11 B I B L I O G R A PH Y 94
12 QUESTIONNAIRE 96

INTRODUCTION
International economy is being increasingly “electronized”, with more and more transactions occurring online and
electronic payments increasing significantly to the extent that they are surpassing paper-based payment
instruments. In addition, governments worldwide, particularly in India, are targeting electronic delivery of public
services and banking activities. Also, the Internet is being tapped for servicing the rural populace due to significant
cost benefits and the reach afforded. However, to facilitate increasing volumes, security and efficiency are
essential and so is the required infrastructure. An Internet IndiaMart Payment Gateway is a critical infrastructural
component to ensure that such transactions occur without any hitches and in total security over electronic
networks. A Payment Gateway is the access point to the national banking network. All online transactions must
pass through a Payment Gateway to be processed. In effect, Payment Gateways act as a bridge between the
merchant's website and the financial institutions that process the transaction.
What is a Payment Gateway?
Payment gateways authorize electronic credit card and ACH payments to provide seamless
payment processing for businesses. They can be thought of as similar to a POS terminal found in
many retail establishments. These gateways encrypt and store sensitive data, including credit
card numbers, ACH account numbers, AVV and CVV2 information. This ensures that sensitive
information is kept safe while a payment is processed. These gateways are also responsible for
transferring payment information to the customer’s acquiring bank. Payment gateways reduce a
business’ liability and ensure that payments are processed securely.

Payment processing can be automated by having a secure software vendor communicate with the
payment gateway and the acquiring bank to ensure seamless payment processing. k-eCommerce
Credit Card Extension, a payment processing solution for Microsoft Dynamics users, works with
multiple gateways to ensure secure payment processing. This PA-DSS certified solution makes it
easy for a business to obtain PCI Compliance and also supports token technology.

Basics of Payment Gateway

Payment gateways vs. Merchant account.
It is important to understand that payment gateways, just as POS terminals, are tools for handling
payment information. Just as the POS terminal is a part of each retail merchant account, the payment
gateway is an essential part of every IndiaMart merchant account. Yet, the merchant account service
goes beyond handling the information provided by the cardholder. It enables a merchant to accept
credit and debit cards, as well as other payment methods, by connecting the merchant’s physical and /
or virtual check-out tools with a processing bank that “acquires” the transactions and funds the
merchant’s account the transaction amount, after subtracting the transaction’s processing costs. This
whole process, from the capturing of the information at the point of sale (whether physical or virtual),
to the settlement of the funds is what a merchant account service provides

How Does a Payment Gateway Work?

Payment Gateways are software and servers that transmit Transaction information to Acquiring
Banks and responses from Issuing Banks (such as whether a transaction is approved or declined).
Essentially, Payment Gateways facilitate communication within banks.

Security is an integral component of all payment gateways, as sensitive data such as Credit Card
Numbers need to be protected from any fraudulent parties. The card associations have created a
set of rules and security standards which must be followed by anyone with access to card
information including gateways. This set of rules and security standards is called the Payment
Card Industry Data Security Standard (PCI-DSS or PCI).

Submitting an order is usually completed using HTTPS protocol, which securely communicates
personal information through the parties involved in the Transaction. Many Payment Providers,
such as 2Checkout, enable Merchants with added options when a cardholder purchases a service
or product. Aside from providing the ability for real-time transactions, these providers can help
to translate currencies between two parties in different countries, as well as bridge language and
payment methods. Payment gateways usually charge those who use them a per transaction fee.

There are several steps that take place during the transaction process, which take only a couple seconds.
It all starts when a user submits a payment from a business’ website, ERP or third party application

01-
A user processes a payment.
02-
k-eCommerce securely passes sensitive payment information to the gateway.

03-
Gateway tokenizes sensitive info and sends it to the merchant’s acquiring bank.

04-
Processor send an “approved” or “declined” response back to the payment gateway.
05-
Payment gateway then pushes the response and token back to k-eCommerce tables.

06-
Payment info is received and applied into ERP.

Payment Gateway Functions

Payment gateways also screen orders with a myriad of helpful tools. This screening process
filters out as much fraud as possible. Examples of gateway fraud detection tools include:
  Delivery address verification
 AVS checks
 Computer finger printing technology,
 Velocity pattern analysis
 Identity morphing detection
 Geolocation

Payment gateways even calculate tax amounts to authorize requests transmitted to the processor.

Payment gateways fulfill a vital role in the ecommerce transaction process, authorizing the
payment between merchant and customer. Popular payment gateways include PayPal/Braintree,
Stripe, and Square.

Payment gateways facilitates the transfer of information between a payment portal (such as a
website, mobile phone or interactive voice response service) and the Front End Processor or
acquiring bank.

The payment gateways performs a variety of tasks to process the transaction.

Benefits

Freeing up on precious resources viz, human capital and money, for investment in other important areas

• An efficient, homogenous payment mechanism in a country with vast number and kinds of banks and
customers

• Reduced instances of security lapses and fraud

• Emergence of new payment instruments

• A single platform for a variety of payment needs, infrastructures and instruments

 • Ability to track transactions and maintain a record of the same, which is useful in checking financial
irregularities

• Instant information flow enabling rapid decision making

• Ability to keep pace with international payment systems and undertake transactions at a global level, in a
fraction of time required earlier

• Decreased number of intermediaries and thereby reduced costs

• Instantaneous authorisation and settlement, implying no risk of defaults and bounced cheques

• A more streamlined approach for government-related payments

• Savings for the government and business for not needing to maintain an expensive shop/office
infrastructure

• Emergence of a completely new line of service providers for developing web sites, integration services,
maintenance, etc.

• Development of a payment infrastructure which can be scaled for future applications and payment
instruments

• Easier to process exports

Benefits for the Common Man

• Payment system within easy reach of customers, who can make payments from the comfort of their homes

• Ability to access multiple counters from one location

• Reduced time for making transactions

• Maximum security for transactions

• Ultimate fallout could be reduced prices of goods and services due to lower number of intermediaries and
savings passed on by the merchant for not maintaining a shop infrastructure

• Lower prices could attract new consumers hitherto reluctant to let go of traditional transaction modes,
leading to a greater population of Internet-savvy people in India

• Greater reach to the rural areas and interiors of a vast nation like India

• Greater willingness of service providers to offer their products/services in rural areas due to the cost benefit
and infrastructure availability
PAYMENT GATEWAYS - WHAT TO LOOK FOR?
It is always smart to work on the certain criteria for selecting the best among the available options.
In our extensive browsing session; we encountered one of such set, which is given as following:
A quick guide to help you "Pick the Oranges from the Lemons"

1. Security and Risk Mitigation: There are several facets to security that a Payment Gateway must
take care of. Starting from physical and data center security (where the Payment Gateway Servers
are hosted), OS and Application security, Firewall and Intrusion Detection Systems at the OS and
Application layer, Database security, and finally Transaction security. Ideally choose a Payment
Gateway which offers you Fraud Detection tools apart from just AVS and CVV2. RBI Notification on
additional security for credit-card transactions RBI has mandated additional
authentication/validation for all VISA and Master card transactions using Verified by Visa and
Mastercard SecureCode. These are additional user intervention in the transaction authentication
process.

2. Branding and Customisation: Associating with payment gateways which are known for
downtime, vulnerability and slow response can impact company’s brand image and user preference
to use the platform. The level of customization the gateway offers to integrate the payment feature
within the website is also an importance aspect. Make sure to check up on the feasibility of the
integration process in detail, before you commit on your Payment Gateway decision.

3. Transaction Features: There are various modes of Transaction that can be performed. Auth-
Capture, Sale mode, Reversal, Partial captures, Partial Reversals etc. It is important that the
Payment Gateway supports all the transaction modes. Various Business occasions require a
combination of one or more of these transaction modes.

4. Comprehensive Merchant Interface: The types of reports available, the interfaces available for
Searching transactions, Processing Captures and Refunds, requesting withdrawals etc.

5. Technical capabilities and supported platforms: Many payment gateways support only limited
platforms for integration like PHP or JSP or ASP. So depending on your current development
platform, its recommended that the technical integration aspect is also verified while choosing your
vendor
www.yourstory.in 8 © YourStory Research & Analytics
6. Hidden Costs: Most Providers will charge you these fees without disclosing them to you:
Chargeback fees, Reversal fees , Termination fees, Hidden setup charges, Non-Sufficient Funds fees,
Statement Fees (more for more services), Customer Support fees, Withdrawal Charges

7. Withdrawals: While most Payment Gateways may maintain reserves for risk mitigation, it is
essential to estimate within how much time you will have access to your funds

8. Technical Support: Ensure that your Payment Gateway provides round the clock support with
well-staffed and trained Helpdesk so that you can provide 24x7 support to your customers as well
www.yourstory.in 9 © YourStory Research & Analytics
PAYMENT GATEWAYS IN INDIA
Currently, there are 2 types of payment gateway options available:

1. Merchant account through a major bank: ICICI and HDFC are some of the major banks which
provide this service. Low transactional but high Installation charges make them suitable for big
businesses but an expensive option for small ones.

2. Third party vendors: In this approach third parties open merchant accounts with various banks
and also accept credit cards, debit cards and cash cards. Major companies providing this service in
India are:

CCAvenue

EBS

DirecPay

A broad categorization and comparison of the setup fees, transaction and other charges of different
payment gateways options available in India:
Company Name One Time Setup Transaction Transaction Cost Annual
Fee* costs(Credit (Net banking) Maintenance
/Debit Cards) Cost(AMC)*
CCAvenue 7,500/- 7% 4% 1,200/-
DirecPay 10,000/- 6% 6% 2,400/-
EBS 6,000/- 6% 6% 2,400/-
ICICI payment 30,000/- 3-5% - 10,000/-
gateway
HDFC payment 20,000/- 3-10% - 10,000/-
gateway
BillJunction 40,000/- 2.5% 2.5% 5,000/-
 ONLINE PAYMENT GATEWAYS :-

IndiaMart uses number of gateways for their clients to make online payment. These gateways
have different rates depending upon the mode of payment. These gateways include

 CC Avenue,
 CC Avenue New
 Citrus,
 Innoviti,
 PayU
 PayU Hello travel agent
 EBS-HT

CCAvenue

CCAvenue is a Commerce Service Provider, authorized as a Master Merchant, by Indian

financial institutions, to appoint Sub Merchants, to accept and validate Internet payments via
Credit Card, and Net banking facilities from the Sub Merchant's (your) customers in real-time.
We provide a secure link between your website, various Credit Card issuing institutions,
acquiring Banks and the payment gateway providers. Please Note: At present, CCAvenue offers
these payment services, exclusively for websites owned by Indian entities only.

Citrus
Citrus is one of the top 3 payment gateway companies in India and the feat is worthy to be applauded,
since it is only a 3 year old venture. Started by Satyen Kothari and Jitendra Gupta, their aim was to
simplify online payment and make it quick & effective while following all safety protocols. Right from
Emirates, Etihad, Airtel, Bagskart, Meru, Zivame, Esselworld, Kaya, PVR Cinemas, Healthkart, they all use
Citrus Pay. They offer 3 packages, monthly charges for which are Rs. 7000 for Easy Starter, Rs. 10000 for
Level Up, and Rs. 15000 for Power Packed.

PayU India

Owned by Naspers, PayU is a global company with its presence in countries like Hungary,
Poland, Russia, South Africa and India among others. With an impressive 12% conversion rate
coupled with noteworthy customer service, PayU has roped in biggies like Jabong and Snapdeal.
The service provider offers four pricing packages, Risk Management System, Multi Currency
Gateway, Mobile optimised payment page, IVR Payment, Store Card Feature and Payment
Analytics. Zepo, one of India’s top platforms for start-ups has only good things to say about
PayU. Therefore, it doesn’t come as a surprise that they also offer a free PayU gateway to people
who sign up with them.

ONLINE PAYMENT GATEWAYS :-

The company uses number of gateways for their clients to make online payment. These gateways
include CC Avenue, CC Avenue New, Citrus, , Innoviti, , PayU, PayU Hellotravel -Agt and
EBS-HT. These gateways have different rates depending upon the mode of payment.

CCAvenue is South Asia’s largest payment gateway solution powering thousands of eMerchants
with real time, multi-currency, multiple payment options online payment processing services.
The solution is powered by proprietary technology that integrates transaction-processing,
advance shopping cart, auction payment collection facility, fraud control, financial reporting and
order tracking. CCAvenue is the only complete PG solution in the region that has the unique
ability to offer the full spectrum of Internet payment options, including:-

 All types of Credit Card processing through Multiple Banks and Card Associations
 Debit Card processing
 ATM cum Debit Card processing
 Direct Debit to bank accounts of 30+ Indian Banks, 20+ Chinese Banks and 3 Singapore
Banks
 Mobile Payment Solutions via PayMate, SBI Freedom
 Cash Card Processing of ITZ Cash , Done Card, OxiCash and NoQ24x7

Features :-
Services :-

Pricing :-
Partners :-
FAQ’S :-
CLIENTS :-
Citrus makes digital payments and online checkout processes simpler, faster, safer and easier for
an 800 million strong electronically connected user base.

Citrus consists of people with the passion and experience to change the world of consumer
payments in India. We aim to create a company that puts the consumer and their needs in the
centre of everything we do. Our collective backgrounds are from the worlds of technology, user
experience, payments, and banking. We have worked across the world in companies like Apple,
First Data, ICICI Bank, Cisco, and Yahoo.
CITRUS WALLET
The most common components of an individual’s wallet are some form of identity, some cash,
all credit/debit cards issued by banks and any vouchers or loyalty coupons issued by their
favourite businesses. Citrus Wallet is the digital representation of the individual’s wallet. Just
like its physical incarnation, the digital representation of the wallet also has cash, cards, loyalty
coupons & identity information. The diagram below shows the current components that are part
of this fat Citrus Wallet for every individual who becomes a consumer of Citrus under the terms
available here.

Despite the plethora of payment options available currently or more options that will be added in
the fatter Citrus Wallet in the future, the wallet provides a unified interface for businesses to
build use cases on both spending money and crediting money to the wallet.

MERCHANT LOG IN :-
PayUbiz (B2B) is a payment gateway aggregator with focus on building core technology stack.
It caters to enterprise grade merchants and serves 80 out of top 100 IndiaMart companies. It is
technologically superior platform to collect payments online and has easy to integrate web API's
and Mobile SDK for both android and iOS. It also has 12% increased conversion rates in terms
of transaction success rates which directly impacts top-line of merchants positively.

Pay U is one of top payment gateway aggregator from Nespers Group and have few of the top
features and hence one of the best payment gateway provider in India, The best features about
payu is they try to reduce the bounce rates and to maintain the volume of success full payments
and they have some benefits of collecting card data on your own page using Iframes this
reduces your customer bounces rates down to zero.

We are payment gateway aggregator who offer electronic payment services to merchant website
through its partnerships with various banks and payment instrument companies.

With us, customers can pay through various options like Credit cards, Debit cards, Net banking,
EMI,Cash Cards,Email Invoicing, IVR, Cash on Delivery(COD)

PayU Merchant Dashboard- A one stop shop for merchant activities

We offer an online interface (known as PayU merchant Dashboard) where merchant has access
to various features like viewing all the transaction details, extracting settlement reports &
analytical reports, analysing success ratio and many more. Through this interface, the merchant
can also execute actions like capturing, cancelling and refunding the transactions.

PayU or PayUMoney is a leading online payment service provider in India, providing a wide
range of payment options, including credit cards, bank transfer.PayU or PayUMoney is the
fastest growing payment system in India! PayU or PayUMoney focuses on flexible, effective and
user friendly payment solutions for extreme competitive prices. Payment types accepted by the
PayU or PayUMoney payment gateway: – Credit Cards – Debit Cards – Net Banking.
We have 5+ years of experience in PayU or PayUMoney Payment Gateway Implementation
services and developed many PayU or PayUMoney Payment Gateway integration based
website/online stores for our Clients in Indian Online marketplace.

PayU Payment process flow :-

PayU is an aggregator. Payment gateway provider to merchants to facilitate and help them in
processing their transactions through acquiring banks. Whereas PayU money is a wallet from
PayU. You can use your cards or nsavings account to find your wallet and use that when you are
transacting online.

The best features about payu is they try to reduce the bounce rates and to maintain the volume of
success full payments and they have some benefits of collecting card data on your own page
using Iframes this reduces your customer bounces rates down to zero.

PayU or PayUMoney focuses on flexible, effective and user friendly payment solutions for
extreme competitive prices. Payment types accepted by the PayU or PayUMoney payment
gateway: – Credit Cards – Debit Cards – Net Banking.
As India enters into a nascent phase of cashless payments, startups in the payment solution
domain have recently been a focal point for investors. As a result, Innoviti, an online payment
solution provider has raised $5 Million in fresh funding from Catamaran Ventures, a private
investment firm of Narayan Murthy along with Canada-based New India Investment
Corporation.

This money will be used in company’s plan for expanding the business of real-time credit
distribution to small and medium enterprises. It is also planning to spend money on marketing,
product development and enhancement of infrastructure.

Founded in 2002 by Rajeev Agrawal, Innoviti aspires to transform payments. It provides

solutions for improving operational efficiency and enhancing customer experience in every
payment transaction.

In January 2014, it raised Rs. 10 crore in debt and equity from a group of local and international
angel investors and Tata Capital. Of the 10 crore, Rs. 6 crore was raised from angel investors and
Rs. 4 crore was loaned from Tata Capital. In 2007, Titan Industries purchased 5% stake in the
company.
Its platform assists banks, NBFCs and other financial institutions to reduce the cost of loan
distribution and reduce the risk of lending. Through its uniPay platform, it enables consumers to
make payments through EMIs on credit and debit cards.

The company claims to process over Rs. 8,000 crore worth of payment transactions and also
claims to distribute over Rs. 400 crore of loans to more than 10,000 SMEs across 20 cities on an
annual basis.

The client list of the company includes HDFC, ICICI, Axis, SBI, Standard Chartered, Kotak,
Citibank, Bajaj Financ, Reliance, Titan, Indigo, Yatra, Walmart, Sikkim Manipal University, etc.
E-Billing Solutions (EBS) established in the year 2005 is headquartered in Mumbai. It facilitates
online purchases from a merchant’s website and helps them to collect payment from the end
customers through net banking, credit and debit cards etc. It is an intermediary that assembles the
online payment options offered by various banks, cash card brands and many other payment
processors onto a single platform with minimum technical integration with merchant website.

EBS, is the first Indian merchant account provider to achieve the PCI DSS 3.0 standards of
compliance. It is also certified by security and process adherence followed and audited by ISO
27001- 2013 standard. This achievement makes EBS one of the most secured online service
providers in the world.

EBS, now is a fully owned subsidiary of Ingenico Group. With its acquisition by Ingenious, a
global leader in seamless payment, EBS has now access to world class product and solutions to
augment its existing services.

We are an organization with a vision that believes in consistent quality and service excellence.
EBS is looking for high caliber, enthusiastic people who have the passion to achieve and the
determination to succeed. We offer a supportive, stimulating and dynamic work environment that
values “People First” policies and focuses on professional growth. EBS specializes in aligning
people to roles based on individual talents and leadership qualities. Our perfect synergy of
opportunities and benefits will motivate you to pursue your career goals in real earnest and
reach for the sky.

We are an equal opportunity company and you will be working with our global partners & be a
part of our diverse workforce. At EBS, we nurture our people & their talents and offer our team
members ample opportunities for learning and creativity, growth and leadership. Because, you
are one of our greatest assets to assure us in realizing our goals, lead from the front and stay
ahead of competition.

We are looking for you…

 If you are an expert in your field

 Willing to work smart and meet deadlines
 Eager to learn
 Ready to take lots of initiative
 A good team player with excellent communication skills
PayPal Holdings, Inc. is an American company operating a worldwide online payments
system. Online money transfers serve as electronic alternatives to traditional paper methods
like checks and money orders. PayPal is one of the world's largest Internet payment
companies. The company operates as a payment processor for online vendors, auction sites and
other commercial users, for which it charges a fee.

In 2014, PayPal moved $228 billion in 26 currencies across more than 190 nations, generating a
total revenue of $7.9 billion (44% of eBay’s total profits). The same year, eBay announced
plans to spin-off PayPal into an independent company by mid-2015 and this was completed on
July 18, 2015. On July 20, 2015, PayPal had its second IPO that valued the company at $46.6
billion.
Payment Gateway Comparison Chart
COMPANY PROFILE
 IndiaMART.com is India's largest online B2B marketplace for Small
& Medium Size Businesses, connecting global buyers with suppliers. The
company offers a platform & tools to over 1 million suppliers to generate
business leads from over 5 million buyers, who use the platform to find
reliable & competitive suppliers. The company has over 4000 employees
located across 75 offices in the country. Its existing investors include Intel
Capital and Bennett, Coleman & Co. Ltd.

 IndiaMART.com offers products that enable small & medium size

businesses generate business leads (online catalogs/store-fronts), establish
their credibility (third party verified trust profile) and use business
information (finance, news, trade shows, tenders) for their business
promotion.

 IndiaMART.com has won numerous awards over the years, which

include coveted Red Herring Award, Emerging India Award, among others.
The company has also been widely covered by media for its pioneering role
in promoting SME business in the country.

 Its existing investors include Intel Capital and Bennett, Coleman &
Co. Ltd (Times Group), India's largest print media group.

 IndiaMART Knowledge Services: An in-house unit involved in SME

research, forecasting, analysis and education. It conducts independent
surveys, etc. & holds workshops for SMEs to educate them on specific areas
such as Marketing, IT, etc.
 The Board of Directors

Mr. DINESH AGARWAL

FOUNDER & CEO, IndiaMART.com

Dinesh Agarwal is the founder and CEO of

IndiaMART.com, India's largest online B2B marketplace
connecting Indian suppliers with domestic and international
buyers. Founded in 1996, Dinesh is credited with leading
IndiaMART.com through a decade and a half with an unblemished
record of being profitable from d ay one - a feat no other online company in India
has been able to emulate.

Mr. BRIJESH AGRAWAL

COO, IndiaMART.com

Brijesh Agrawal is the Chief Operating Officer,

IndiaMART.com. Being a part of the core management team,
Brijesh has been the brainchild behind the creation of a plethora of
innovative products of IndiaMART.

Mr. DEEP KALRA

FOUNDER & CEO, MakeMyTrip.com

Deep Kalra holds rich past experience at GE Capital, AMF

Bowling Inc. and ABN AMRO Bank. He is a member of the
Executive Council of NASSCOM and chairs the NASSCOM
Internet Working Group.

Mr. M. K. Chouhan
MANAGING DIRECTOR, Mahendra & Ardneham Consulting (P) Ltd.

Mr. RAJESH SAWHNEY

PRESIDENT, Reliance Entertainment Private Ltd.
CONTACT

Head/ Work Office

IndiaMART InterMESH Limited (An ISO 9001:2008 Company)

B-1, Sector - 8, NOIDA
Uttar Pradesh, INDIA PIN - 201 301
Phone: +(91)-(120)-6777777, 3911000
Fax: +(91)-(120)-3911010

Vadodara office

IndiaMART InterMESH Limited

401-410 Silver Line Complex
Opp BBC Tower
Sayajigunj, Vadodara, Pin - 390 007, India
Phone: +(91)-(265)- 3052233 / 34
Mobile No.: +(91)- 9825525213 / 9727700464
 Core values

For us they are simple and straight; take responsibility, work with passion
and commitment, move ahead as a team and conserve the integrity.

We firmly believe that core values keep organizations stable and focused to
the common goal. Our core values have helped us achieve our mission to bring
measurable benefits to our customers.

Responsibility
Responsibility, not just of quality work but of
continuous self-development, of our decisions and of our
actions. This helps us think rationally and provides a sense
of accountability to ourselves, our commitment to customers and to our colleagues.

Passion

Work at IndiaMART.com involves constant innovation

and creativity. It involves a continuous thought process to get
tangible benefits to our customers, taking into account the
uniqueness of their purpose. Passionate people with a
determination to make the difference are the ones who make
this possible.

Team Work

“Together we can achieve the impossible" is our belief.

Our success is a result of our team work. Experts from the field
of management, marketing, IT, arts, content & various other
disciplines work as a team on every project, every endeavour.
Dedication, passion and teamwork are the true means to our
mission fulfillment.

Integrity

We realize the importance of the job & information we

handle. We understand the responsibility that each member of
our team has to shoulder and we do that with highest levels of
trust, honesty and integrity - of purpose and action.
 Awards & Achievements
Success of our customers is our greatest achievement. Their confidence in us and our
innovation, to give them the best, has got us applauds from various sources.

IndiaMART.com wins the Red Herring 100 Asia Awards 2008

IndiaMART.com nominated among the top three at Emerging India Awards 2008

IndiaMART.com's successful business model featured on CNBC India as analyzed by McKinsey

Bestowed with "Amity Corporate Excellence Award" on the occasion of the Tenth Business
International Horizon INBUSH 2008

Recognized by Business Money (UK's leading financial magazine) for IndiaMART's ten years of
successful contribution to Indian businesses
 Declared as India's only profit-making dotcom company by Business World (Cover story)

Special footage for IndiaMART.com's contribution in enabling e-business for exporters from
Moradabad; Mr Dinesh Agarwal interviewed (India Tomorrow - BBC News)

www.indiantravelportal.com bags eighth "BIG" Award from Britannicaindia.com

IndiaMART.com nominated for Britannica Internet Guide (BIG) Awards for excellence
on Internet

IndiaMART.com listed among Top Indian Websites under Business-to-Business

category by Ecomready Top Indian Site by www.indiatimes.com

Termed as 'Online Gateway to Indian marketplace'- The Economic Times

Best Travel Site- www.indiantravelportal.com by India Online: DD News

Site of the day - Handicraft.IndiaMART.com by Zee News

Listed in the Top Indian IT organisations survey by Dataquest

Nominated amongst the Top 5 Indian Sites by Microsoft.

 QUALITY

We are the first Indian company in our domain to have received ISO

9001:2008 certification for overall quality management and the organisation's

ability to successfully "meet customer, regulatory and statutory requirements."

QUALITY POLICY

we are committed to provide high quality web services & solutions that ensure profitable returns to
our customers.

We strive to enhance the value delivered to our clients by continually improving the quality of services
offered.
 Fact Sheet

We endeavor to maximize value for our customers by offering them efficient

and cost-effective solutions for business promotion, process support and
transaction accomplishment.

1996-97

 IndiaMART.com, India's first online B2B directory, launched

 Successfully introduces free listing & free-query forwarding concept to
familiarize Indian SMEs with benefits of Internet for business promotion
 Accomplishes India's first IndiaMart project for Nirula's (http://nirulas.com)
 Achieves break-even within 6 months of the launch

1997-98

 Successfully crosses 100 clients mark

 Initiates franchisee network program

1998-99

 Launches Handicraft, Apparel & Finance channels

 Increases workforce to 40
 B2B marketplace network surges to 1 million page views/month mark

1999-2000
  Accomplishes 'Bharat On Line' - MTNL's online portal project
 Launches auto industry channel
 Opens branch office in financial hub of India - Mumbai
 Crosses Rs 1 crore revenue mark

2000-01

 Touches 5 million page views/month

 Crosses 1000 clients mark
 Registers 100,000 business queries/month
 Accomplishes prestigious online projects for HHEC, Jindal Organization,
ModiCorp
 Wins Britannica (BIG) Award for Travel.IndiaMART.com
 Profits increased by 128% over last year
 Company becoming limited, from InterMESH Systems, to IndiaMART
InterMESH Limited

2001-02

 Business World magazine declares IndiaMART.com as "the only profitable

Indian Dotcom, with positive cash flows" [Cover Story: 14 May 2001 issue]
 Adds exclusive services to its portfolio - Electronic Trade Offers & Request
for Quotation / Request for Proposal
 CNBC India recognizes IndiaMART.com as one of the only profitable
dotcoms in India based on report by McKinsey
2002-03

 Moves operations to state-of-the-art NOIDA development center

 Launches Exim.IndiaMART.com
 Crosses 200,000 business queries mark with 12 million page views

2003-04

 Launches TrustSEAL to bridge the trust gap in B2B trade

 Crosses 3000 clients mark
 Touches 26 million page views per month, generating more than 300,000
business queries

2004-05

 Becomes first ISO 9001:2000 company in its domain

 Surpasses 8000 clients mark

2005-06

 IndiaMART.com completed ten successful years (1996-2006)

 Crossed 10,000 clients mark
 Launches MDC, a four-page online catalog for clients
 Implements corporate-wide WEBERP
 Acquires new office at B-6, Sec 8, NOIDA

2006-07

 BCCL (Times of India Group) makes strategic investment in IndiaMART.com

 Launches new Templated Product Catalogs

2007-08
  Launches IndiaMART Sourcing Guide
 Commences International Trade Fair Participation initiative
 Wins 'Amity Corporate Excellence Award 2008'
 Wins 'Shiromani Yojana Puraskar' award
 5,00,000 members registered on IndiaMART.com

2008-09

 Intel Capital makes strategic investment in IndiaMART.com

 Wins 'Emerging India Award 2008' as a second runner-up
 Wins 'Red Herring 100 Asia 2008' award
 Launches Video Profiles for "Leading Suppliers"
 IndiaMART.com footprints cover over 100 towns in India
 Participates in more than 100 international & 200 domestic trade shows

2009-10

 IAMAI declares IndiaMART.com as India's largest online B2B marketplace

 Mr. Deep Kalra (Founder & CEO of Makemytrip.com) & Dr. Nachiket Mor
(President, ICICI Foundation) join IndiaMART.com Board of Directors
 More than 300,000 products listed on IndiaMART.com
2010-11

 Takes a giant leap in SME space & launches 'IndiaMART Leaders of

Tomorrow Awards'
 IndiaMART.com member base surges to 1 million suppliers
 Celebrates 14 years of grand success
 Launches FREE tenders service - a first in India
 Being a socially responsible corporate, associates with "Meri Dilli Meri
Yamuna" campaign
 The SmartTechie ranks IndiaMART.com among India's '25 Most Promising
Internet Cos.'
 Products and services

 Dynamic Catalog

A comprehensive online marketing program that provides enhanced enquiry

generation.
  Trust Seal

Trust Seal is a business verification service that checks supplier's records of

existence, credibility and trustworthiness for the benefit of buyers.
  Star Supplier

With Star Supplier to your support, you can get premium positioning among
suppliers in all the relevant categories.
 Leading Supplier
 Leading Supplier is the right choice for companies who have a right mix of
infrastructure, management capabilities and experience in servicing global buyers.
Banner Advertising

Build your brand & drive traffic to your website with Banner Advertising
 Business Plans

 What is business?

Business is all about buying and selling of Product or services. Business can
be done through online and off line.

 What is online Business?

Online business means trading of Products and Services etc through the
Internet. It enables the traders and manufacturers to electronically connect with
the other .
  What is offline business?

In offline trading the customer either goes to the manufacturer’s or trader’s

place and sits before him to place orders. Or rings him, asks for the quotations and
other relevant information, and accordingly places orders over the phone.

 BENEFITS OF OFFLINE BUSINESS

o safer in comparisons to online share business.

o Business can be done without internet connectivity at one’s home.

In a country like India where internet connectivity is not available

everywhere trading online is not possible for everyone, this is also the reason
which enhances the growth of offline trading.

o Better for new comers

  DISADVANTAGES OF OFFLINE BUSINESS

o Often times the brokers takes time to execute your instruction.

o Offline trading brokerage is always higher than that of online brokerage.

o It is a time consuming process as everything is done offline. Trading takes

more time in comparisons to online trading.

o RM may not provide the correct information as required by his client.

 What is E-Business?
  E-tailing, or virtual storefronts on Web sites.

 Online business-to-business transactions.

 Electronic data interchange (EDI), the business-to-business exchange

of data using compatible software.

 E-mail, instant messaging, and other Web-enabled communication

tools and their use as media for reaching prospective and existing
customers.

 The gathering and use of demographic, product, and other

information through Web contacts.

 Capabilities and Benefits of E-Business

 Global Reach : Goods and services can be sold to customers worldwide.

 Personalization : Companies can customize products and reduce inventory.

 Interactivity : Customers and suppliers can negotiate prices online.

 Right-time and integrated marketing : Online retailers provide products

when and where

 Customers want them and promotions can be directed to individual

customers.

 Cost savings : E-business can reduce costs.

  Increase a firm’s visibility, promote its offerings, and provide information to
interested parties.

 Build customer goodwill and assist retailers and other resellers in their
marketing efforts.

 Disseminate financial information to investors.

 Enable prospective employees to apply online for jobs.

 Provide e-mail communication.

 Business-to-Business (B2B)

 Business-to-business e-business (B2B) Electronic business transactions

between businesses using the Internet.

 B2B transactions total $2.5 trillion.

 By some estimates, account for 90% of all IndiaMart activities.

 Can reduce cost of B2B transactions by almost 25 percent.

 Many of the benefits of IndiaMart have come with business-to-business

transactions. Companies like UPS and the Post Office use their websites to save
money and time by doing business online. Companies use a variety of tools to
conduct business online with partners, wholesalers and retailers.
 Online Shopping and B2C

 Business-to-consumer (B2C)

 E-tailing accounts for 4% of all U.S.

 Growing at a rate of 18%.

 Services like banking and brokerage are key aspects of e-tailing

 Many retailers have electronic storefronts.

 Growth of broadband is aiding e-tailing.

 Selling to customers directly over the Internet.

There are millions of good for sale online. There are as variety of retail stores that
make the Internet one big cybermall.

 Who are online buyers and sellers?

Typical user is young, highly educated, urban or suburban, and affluent.

Demographics are shifting; there is decreasing difference in Internet purchasing
habits among groups.

 Benefits of B2C E-Business

 Lower Prices
 Many products cost less online.
 Internet allows customers to easily compare prices from multiple sellers
convenience.
 Can order products from around the world anytime, day or night.
 Can register customer information to streamline transactions.
  Personalization
 Emphasis on personalized, one-on-one marketing to increase repeat
purchases.

 Developing Safe Online Payment Systems

 Through encryption, data is encoded for security purposes.

 Many companies use Secure Sockets Layer (SSL) technology to encrypt
information and verify
 senders and receivers.
 An electronic wallet contains credit card and identification information.
Customers can avoid
 retyping purchase information.

 E-Business Challenges (privacy)

 Privacy is among the top concerns of Internet users.

 E-business sites often require passwords and use electronic signatures, an

electronic form of identity verification.

 Companies can track customer’s shopping and viewing habits through

cookies.

 Customers usually prefer that companies do not share their personal

information. Merchants have responded by joining privacy organizations.

 Privacy protections may soon become legally required.

 Employees also have concerns that employers are monitoring their Internet
behavior.

 Companies worry about data theft.

In addition to credit card transactions online, privacy is a growing concern

for consumers. Consumers worry that the information about them will be available
to others without their permission. Although online shopping is growing,
consumers are very concerned about providing credit cards and personal
information online.

 E-Business Challenges (Internet Fraud)

 Internet Crime Complaint Center logs more than 200,000 complaints

annually.

 50% of the complaints referred to law enforcement agencies deal with online
auctions.

 Phishing is a growing form of Internet fraud that uses e-mail or pop-up

messages to get unsuspecting victims to disclose personal information.

 Vishing, or voice phishing, involves phone calls to credit card customers to

obtain personal and banking information.

 Payment fraud is growing E-Business Challenges (poor website design)

 50% of shopping carts are abandoned before any purchase is made.

 Lack of Information

 Inability to find the information they need

 Feeling overwhelmed by too much information

 Companies that have brick-and-mortar experience often have better success

satisfying customers than Internet-only retailers.

 Online sales can compete with business partners such as retailers and
distributors causing disputes called channel conflict.

 Using the Web’s Communication Function

 Web has four main functions: e-business, entertainment, information, and

communication.

 Communication is Web’s most popular function.

 Firms use e-mail to communicate with customers, suppliers, and other

partners.

 Online Communities: Internet forums, newsgroups, electronic bulletin

boards, and Web communities that appeal to people who share common
interests.

 Spam is junk e-mail.

 Web Communication Blogs

 Blog - short for Web log, an online journal written by a blogger.

 May incorporate wikis, a Web page that anyone can edit.

 Some incorporate podcasts, video & audio recordings. Feedburner services

more than 200,000 podcasts.

 Corporate blogs can help build brand trust.

 Example: Apple’s iLounge builds the iPod brand and gives Apple ideas for
product improvement.

 Employee blogs may present ethical issues

 Blogs have become increasingly popular. People have combined the use of
blogs with other technologies like wikis and podcasts. Wikis allow all users
to edit the pages while podcas are audiots and video content.

 Many organizations are beginning to use blogs as a way to build brand

loyalty but some blogs can be problematic. Disgruntled employees can
destroy a company’s reputation.

Web Communication Web Based Promotion

 Banner Ads : messages placed on frequently visited websites

 Pop-up Ads : ads that appear in separate windows

 Pre-roll Video Ads : advertisements that roll as soon as a page is loaded

 Search marketing : companies pay for top visibility in search results

 Some companies, such as ValPak Marketing Systems, offer virtual,

searchable coupons.

Global Environment of E-Business

 Future growth of many companies is linked to a global strategy that

incorporates e-business.
 U.S. leads world in Internet users but ranks only 5th in Internet penetration.
 E-Bay may dominate most markets, but Chinese company Alibaba.com has
83% of the auction business in China.
 E-business can heighten competition in the global marketplace…
Developing a Successful Website
 Business websites serve multiple purposes. It is imperative that websites are good.

 Different websites serve different purposes; therefore, success may mean different things.

 Popularity for a news web site that sells advertising is important, while a website that is
selling goods requires a streamlined transaction process.

 The planning of the website is the first step.

 The content that is included on a website determines whether visitors return to a site.
 The cost of a site is an important considerations costs include variable costs like
development expenses, maintenance, updating and promotion.
Managing a Website
 Why B2B Marketplaces?

 Largest aggregation of B2B Buyers - more than 30% of these are here
 Hassle free way to generate business leads ± fully managed
  Try for free ± Pay for premium
 Do it all, right from your desktop

 Free Services

 Business / ProductCatalog ± Unlimited Products

 Trade Leads
 Business Tenders
 Enquiry Alerts on SMS / Call from Buyers on Mobile
 Videos
 Industry, Trade Shows & Business Information Updates

 The first step towards internet marketing & lead generation

 Unlimited Products ± photos & videos
 Higher the no. of products, higher the no. of leads
 200,000 Indian companies having 2 million products, already have their
catalog on IndiaMART.com alone.

 Business / Product Catalog

 Trade Leads

 The easiest way to generate 1 lead every week

 Post unlimited product specific offers with picture
 Importance of μpush-to-top¶ ± 10 times better results
 More than half-a-million offers live on IndiaMART.com alone
 SWOT analysis of indiamart.com
 Strengths

 The most powerful point in hand of the company is that they provide the
customized solution to the customers.

 The company has excellent distribution system.

 The company has built a strong image among the customers.

 The company experiences excellent Brand loyalty for its Products from the
customers.

 The company has made its Product range attractive, which lures the
customers, and consequently

 Weaknesses

 Some products have high prices as compared to the other products.

 The company pays less attention towards the matured clients

 Opportunities

 India has a vast potential market, which the company can get hold up.

 The company can prove to be major threats for its competitor’s if it increases
marketing efforts.

 IIL should concentrate on the premium segment market.

 Threats

 The major threat that company faces is from its competitors who are
introducing products with lower cost backed by aggressive promotional
schemes to attract the customer.

 The arrival of the MNC is a major serious threat for the company.
REVIEW OF LITERATURE

Payment Gateway
 LITERATURE OF PAYMENT GATEWAY

A payment gateway is an IndiaMart application service provider service that authorizes credit
card payments for e-businesses, online retailers, bricks and clicks, or traditional brick and
mortar.

A payment gateway facilitates the transfer of information between a payment portal (such as a
website, mobile phone or interactive voice response service) and the Front End Processor or
acquiring bank.

A payment gateway is an ecommerce service that processes credit card payments for online and
traditional brick and mortar stores. Payment gateways facilitate these transactions by transferring
key information between payment portals such as web-enabled mobile devices/websites and the
front end processor/bank.

Payment gateways fulfill a vital role in the ecommerce transaction process, authorizing the
payment between merchant and customer. Popular payment gateways include PayPal/Braintree,
Stripe, and Square.
 PROBLEM FORMULATING STAGE

During the research the survey of the market in Bangalore has been done and
then result was found that company and its owners are doing their job more
efficiently but still the company is lacking to make its customer fully satisfied.

The existing customers are not having so much of problem but the new
customers are facing the problem. The problem is related to brokerage rate, expert
knowledge, problem solving etc. Because of high account opening charge in the
market customer are not ready to open an account.

 LITERATURE SEARCH

It has been found that if company want to expand its market share and to
increase the customer then it should have to focus on product and services
promotion apart from brand promotion.

The company will have to satisfy its customer in an appropriate way so that
they will become loyal customer and they will also help to increase to increase the
number of customer through their valuable references. The company should launch
some good schemes & lower broking charges. It should provide training to
customers and also show the demo etc.

 DATA EVALUATION

After collecting and analyzing the data understanding has been made that in
this era of marketing where the market is full of competitors IndiaMart should have
to do something innovative and creative in order to give tough competition to the
top broking companies.

As we know that CUSTOMER SI THE KING´. It means anyhow company

will have to make its customer happy, satisfied and delight to make more and more
profit and leave the competitors behind.
RESEARCH METHODOLOGY
 To find out the problems faced by IndiaMart in finding manufacturers and
Suppliers of desired (lack of online business awareness)

 To find out the problems faced by IndiaMart in identifying and developing

new products and their market (Regarding Fund Allocation) products.

 To learn the whole process involved in identification of product requirement,

supplier search, and search of prospective customers. (Regarding location
problem etc.)

SCOPE OF THE STUDY

 The scope of the study is limited to India mart, which is place of global
buyers with global suppliers It’s also prepares online catalog, trade leads and
tender. After the completion of the reports we will come to know the whole
process of India mart and how India mart has become largest online B2B
marketplace.

RATIONALE OF STUDY

 Provides information about India Mart to the companies ,how India Mart is
helpful for the SME’S growth. Help to analysis operation of India Mart The
report shall be helpful for the further in-depth study on the subject.
 OBJECTIVE OF THE STUDY

 To find out the problems faced by IndiaMart in finding manufacturers and

Suppliers of desired (lack of online business awareness)

 To find out the problems faced by IndiaMart in identifying and developing

new products and their market (Regarding Fund Allocation) products.

 To learn the whole process involved in identification of product requirement,

supplier search, and search of prospective customers. (Regarding location
problem etc.)

SCOPE OF THE STUDY

 The scope of the study is limited to India mart, which is place of global
buyers with global suppliers It’s also prepares online catalog, trade leads and
tender. After the completion of the reports we will come to know the whole
process of India mart and how India mart has become largest online B2B
marketplace.

RATIONALE OF STUDY

 Provides information about India Mart to the companies ,how India Mart is
helpful for the SME’S growth. Help to analysis operation of India Mart The
report shall be helpful for the further in-depth study on the subject.
 RESEARCH METHODOLOGY

Research is the systematic & objective identification, collection, analysis,

dissemination & use of information for the purpose of improving decision making
related to the identification & solution of problems & opportunities in Marketing.
A research process consists of stages or steps that guide the project from its
conception through the final analysis, recommendations and ultimate actions. The
research process provides a systematic, planned approach to the research project
and ensures the all aspects of at the research project are consistent with each other.
Research studies evolve through a series of steps, each representing the answer to a
key question.

 INTRODUCTION TO METHODOLOGY

This aims to understand the research methodology establishing a framework

of evaluation and revaluation of primary and secondary research. The techniques
and concepts used during primary research in order to arrive at findings; which are
also dealt with and lead to a logical deduction towards the analysis and results.

 RESEARCH DESIGN

Research design is a conceptual structure within which research was

conducted. A research design is the detailed blueprint used to guide a research
study towards its objective. It is a series of advanced decision taken together
comprising a master plan or a model for conducting the research in consonance
with the research objectives. Research design is needed because it facilitates the
smooth sailing of the various research operations, thereby making research as
efficient as possible yielding maximum information with the minimum effort, time
and money.
( I ) Exploratory Research

To gather preliminary information that will help define problems and suggest
hypotheses. (uses Secondary Data & Focus Groups )

( II ) Conclusive Research

 Descriptive Research

To describe things, such as the market potential for a product or the demographics
& attitudes of consumers who buy the product.(Hypotheses Testing)

 Experimental Research : (Causal Research)

To establish the cause-and-effect relationships

RESEARCH PROCESS

The research process has five distinct yet interrelated steps for research analysis.

1. Define the information needed.

2. Design the Exploratory, Descriptive and/or Causal phases of the Research.

3. Specify the measurement and scaling procedures.

4. Construct and pretest a Questionnaire (interviewing form) or an appropriate

form for Data Collection.

5. Specify the Sampling Process & Sample Size.

6. Develop a plan of Data Analysis.

Each step is viewed as a separate process that includes a combination of

task, step and specific procedure. The steps undertake are logical, objective,
systematic, reliable, valid, impersonal and ongoing.
 EXPLORATORY RESEARCH

The method I used for exploratory research was Primary Data, Secondary data

 PRIMARY DATA

New data gathered to help solve the problem at hand. As compared to

secondary data which is previously gathered data. An example is information
gathered by a questionnaire.

Qualitative or quantitative data that are newly collected in the course of

research Consists of, original information that comes from people and includes
information gathered from surveys, focus groups, independent observations and
test results. Data gathered by the researcher in the act of conducting research.

This is contrasted to secondary data, which entails the use of data gathered
by someone other than the researcher information that is obtained directly from
first-hand sources by means of surveys, observation or experimentation.

Primary data is basically collected by getting questionnaire asked to the

respondents.
 DESCRIPTIVE RESEARCH

STEPS in the descriptive research

 Statement of the problem

 Identification of information needed to solve the problem

 Selection or development of instruments for gathering the information

 Identification of target population and determination of sampling Plan.

 Design of procedure for information collection

 Collection of information

 Analysis of information

 Generalizations and/or predictions

 DATA COLLECTION

Data collection took place with the help of filling of questionnaires. The
questionnaire method has come to the more widely used and economical means of
data collection.

The common factor in all varieties of the questionnaire method is this

reliance on verbal responses to questions, written or oral. I found it essential to
make sure the questionnaire was easy to read and understand to all spectrums of
people in the sample.

It was also important as researcher to respect the samples time and energy
hence the questionnaire was designed in such a way, that its administration would
not exceed 4-5 mins. These questionnaires were personally
 Primary Research was based on the Telephonic Session (Questionnaire
Session),it was B2B and B2C,most likely questions asked is as followed

1) What is your name?

2) What is type of company?

3) What is the company description?

4) What is the designation of the contact person?

5) What is the e-mail id, website, contact number, fax number, address?

6) How many employees are working in your organization?

7) What type of product /services do they have?

DETERMINATION THE SAMPLE PLAN AND SAMPLE SIZE

TARGET POPULATION

It is a description of the characteristics of that group of people from whom a

course is intended. It attempts to describe them as they are rather than a the
describer woulds like them to be. Also called the audience the audience to be
served by our project includes key demographic information (i.e.; age, sex etc.).

The specific population intended as beneficiaries of a program. This will be

either all or a subset of potential users, such as adolescents, women, rural residents,
or the residents of a particular geographic area. Topic areas: Governance,
Accountability and Evaluation, Operations Management and Leadership. A
population to be reached through some action or intervention; may refer to groups
with specific demographic or geographic characteristics.

The group of people you are trying to reach with a particular strategy or
activity. The target population is the population I want to make conclude an ideal
situation; the sampling frames to matches the target population. A specific resource
set that is the object or target of investigation. The audience defined in age,
background, ability, and preferences, among other things, for which a given course
of instruction is intended.

SAMPLE SIZE

This involves figuring out how many samples one need. The numbers of
samples you need are affected by the following factors:

 Project goals
 How you plan to analyze your data?
 How variable your data are or are likely to be?
 How precisely you want to measure change or trend?
 The number of years over which you want to detect a trend?
 How many times a year you will sample each point?
 How much money and manpower you have?

I have targeted 50 people for the purpose of the research. The target
population influences the sample size. The target population represents there
Noida. . The people were from different professional backgrounds. The details of
our sample are explained in chapter named primary research where the divisions
are explained in demographics section.
 SIGNIFICANCE OF STUDY

Every research is conducted to fulfill certain objective and these objectives

in turn fulfill some purpose.

The need of the study arises because of the reason that a trainee must
understand the company, it s achievements and tasks, products and services and
also to collect information about its product s and services offered to customer
through collecting their views as per t heir percept in about company. So that, after
understanding and collecting information about the organization performance in
eyes of customer, a trainee will be able to work well for t he organization.

This hand on experience helps him in identifying the critical factor of

changing consumer perception. It provides a feedback to the organization about
their sales schemes and what impact dose it has on the consumer. It helps the firm
acquire a better understating of the buyer thinking. The very essence of every
project related to marketing is providing a view to management for chalk out the
organization. So that they can maintain a viable fit between the organization
objective, skill and resources and its changing market opportunities.
 LIMITATION OF THE STUDY

The most likely argument is not getting enough return on their investment so
it’s difficult for them to invest at this point of time.

Some of the customers are satisfied with the present system of payment
through cash. They don’t want to pay online through payment gateway due to
limited resources or lack of vision and to avoid risk.

Factor like service charges also plays key role in payment gateway sytem
because customers are likely to respond to that services which offer maximum
advantage at minimum cost.

Many of the clients had bad experience as a result they have withdrawn from
it. The most likely reasons are unsatisfactory support , payment gateway error ,
uneasy acess etc. . Some of them had suffered heavy losses due to such errors.

Most of the organization is controlled from their respective headquarters as a

result the decision remains pending for a long period of time. Regular follow up is
required to maintain their proper status. Some of the organization have their own
web pages and also have contacts of website developers who help them to develop
website for companies in more cost effective way.
DATA ANALYSIS AND INTERPRETATION
PAYMENT OPTIONS
Different payment options for Indian online users:

Net Banking

Credit Card

Debit Card

Cash on Delivery

Cash Cards

Percentage of people using above mentioned options are as follows:

Electronic Clearing Service (ECS) is a mode of electronic funds transfer from one bank account to
another bank account using the services of a Clearing House. This can be used both for making
payments like distribution of dividend, interest, salary, pension, etc. by institutions or for collection
of amounts for purposes such as payments to utility companies like telephone, electricity, or
charges such as house tax, water tax, etc or for loan installments of financial institutions/banks or
regular investments of persons. www.yourstory.in 6 © YourStory Research & Analytics
 ECS (Credit) is used for affording credit to a large number of beneficiaries by raising a single debit
to an account, such as dividend, interest or salary payment.

ECS (Debit) is used for raising debits to a number of accounts of consumers/ account holders for
crediting a particular institution.

National Electronic Funds Transfer (NEFT) is a nation-wide system that facilitates individuals, firms
and corporates to electronically transfer funds from any bank branch to any individual, firm or
corporate having an account with any other bank branch in the country.
Individuals, firms or corporates maintaining accounts with a bank branch can receive funds through
the NEFT system. It is, therefore, necessary for the beneficiary to have an account with the NEFT
enabled destination bank branch in the country.
The data has been collated from RBI website (http://www.rbi.org.in), Ministry of Information and
Techchnology (http://www.mit.gov.in) and other authentic websites

Result of satisfaction level among customers with IndiaMart

 satisfaction level among customers

18%

Satisfied
72%
Dissatisfied

Graph 2:- Result of satisfaction level among customers with IndiaMart

Interpretation

Here we can easily see that from 100 customers, 72% are satisfied with the
payment services of the company but apart from them rest of 28% is completely
dissatisfied with the services of the company.

.
 company services is better than competitors

4%
12%
32% Highly Agree
9% Agree
Neither Agree nor Disagree
Disagree
Highly Disagree

43%

Graph :- Result of company paymet gateway services is better than competitors

Interpretation

While asking about whether the INDIAMART Payment services are better
from the other competitors or not the response I got from the respondents that only
2% were highly agree 14% were agree, 46% were neither agree nor disagree, 33%
were disagree while 5% were highly disagree.

The respondents who were highly disagree was the result of delay in
services and more charges as compared to other competitors.
 Testimonials

"I have been using many b2b services for promotion of my business But honestly
Indiamart is class apart with excellent customer support and excellent quality of
exclusive buyer inquiries Today Indiamart is Number 1 Portal of India and it is my
honor to be associated with indiamart Services given by Indiamart cannot be paid
in money because it is priceless."

Kunal Gupta
Dagar Tiles, Noida

"As far as appreciation goes, we are of the idea that IndiaMART does not need any
further appreciation, as the company's name is good enough to represent the
foothold in the market with qualitative service back up to its customers. However,
as given an opportunity we would like to quote IndiaMART as “Best Channel of
Advertising & Spreading Awareness about the Company in the Respected
Business Arena."

Mr. Nitin Nagpal

Man Behind Nalsons

"IndiaMART.com has been instrumental in helping us to generate good volume of

business in Home Furnishings & Textile related products. We are proud to be an
associated member of IndiaMART.com for the last two years. We have yielded lot
of genuine buyers all over the world. We are highly grateful to IndiaMART for
helping us in boosting our business globally."

Mr. N.V. Subramaniam (Business Partner)

Quality Exports
 "IndiaMART.COM have been instrumental in promoting our Home Textile
products all over the world. They have helped us to get good volume of business
through their promotion."
We are happy to be associated with IndiaMART.COM and would like to continue
this relationship in the future.

P. Balasubramanian
MAXCOP

"Your website should be candidate to Nobel Prize. I am simply astonished by its

simplicity and efficiency. You will rank first one day! Thanks to exist! I will indicate
your website as ultimate term of comparison."

Alessandro Gattinoni
World Trade Center East Lombardy Brescia Italy

"We would like to congratulate India mart. We are on many similar programs
around the world and yours is the best. We get enquiries from manufacturers
around the world which must go into your programs. We get more offers from
factories in Poland through India mart than their programs in Poland. Keep up the
good work."

Jiaxing Tractor Company

Australia
 "Thanks a lot guys. Because of the listing you provided, i got lots of enquiries,
many of which were cemented."

Raghu Nandan
The Bangalore Trading Co.

"I am happy that you replied to my email so quickly. You have given me the
feeling that I am into the right hands and all my requests would be answered. It is
service such as this which makes organizations successful and I thank you very
much."

Gregory Sutherland
DSR Trading Co. Ltd.

"I am an Indian student at the Imperial College of Science, Technology and

Medicine in London. I am currently doing a project on the Indian leather industry.
Frankly, I was really amazed to see such a rich site come up just on clicking for
leather industry in India on AltaVista..."

Gaurav Joshi
 "One of the most interactive trading zone on the net, that I came accross was -
IndiaMART...."

Monica Halan
The Economic Times

"I find your service very usefull in detecting the true buyers."

N.K. Kankani
India Glazes Ltd.

"Congratulations! You will be glad to know that your site has been nominated as
one of the TOP 25 INDIAN WEB SITES OF 1997 by PC WORLD (INDIA) in its
December '97 issue. We, at PC WORLD would like to applaud you for your
excellent efforts and also hope that you keep up the good work and continue to
merit such recognition in future as well."

Ashish Bhatia
PC World (India)

"Compliments for an interesting Web Site ! Please keep up the good work for the
Indian Industry."

Rohit Dalvi (Market Support Manager)

Crompton Greaves Ltd.
 "I am working at Reliance Industries Ltd. and our team is visiting the IT
India'97/Comdex fair. I went through your site and it was damn informative."

Jaideep Desai
Reliance Industries Ltd.

"Congratulations on such well produced pages - for you and your clients. (I found
you when looking for Mangalore Power."

David Way

"I am doing a "report" on the Taj Mahal and decided that cruising the net would
be a good way to come up with some useful information. Unfortunately, I ran out
of luck. There are a lot of sites with pictures of the Taj Mahal and some
background information on the subject but most of the shots were distant ones.
However, your's was crisp and detailed."

Mellanie Triplett
Student

"We have reviewed your site at http://www.indiamart.com and are pleased to

give you the Best of Asia-Pacific Web Award !"

Chong Kee
Best of Asia-Pacific Web Award
My Learning:
During the internship period, I have learnt a lot about work life in practical, which was not
possible to picture while taking classes only. However, this internship opportunity gave me a
chance to learn different skills along with discovering skills, which I did not experienced before.
I could compare and contrast between my academic and work-life learning. I have observed and
find out some issues regarding the sales process using customized marketing speech and the
customer oriented job.
Communication, interpersonal communication skill, conflict management are considered as
people skill. Here I got a great scope of learning and practicing this skill through written
communication with the local as well as corporate clients and interdepartmental colleagues.
Punctuality was highly expected here. All of my colleagues in my department practiced
punctuality and encouraged each other in doing so as well. I learned a great deal of being
punctual and managing time. While maintaining inter-departmental communication, I learned to
maintain professionalism in terms of communicating. In addition, I learned how to act
professional through work, attitude, dress up etc.
The lessons I learned here during my internship was almost exactly, what was share by few
faculties in class. This is because theories often do not match with practicalities. Additionally,
we taught books written in the context of US market but the scenario in Bangladesh is different.
However, according to my findings what we were taught in the class and the practices that I
found at work was neither was exactly the same nor contradictory. Similarities and dissimilarities
both were observe.

FINDINGS

The IndiaMart is lacking in the areas of services promotion, it should

redesign its promotional strategies to capture more market.

The company will have to provide the customer experts knowledge in

broader way i.e. to each needful person when needed.
 The company should lower its brokerage charge in order to gain more
customers.

The company should increase the number of advertisement through various

media to remind present as well as to aware new customer about it’s services.

The company should solve the problems of the customer’s quickly because
delay in this will make them dissatisfied and they will not provide the reference of
any customers.

The company should organize seminars for new as well as existing customer
in order to make existing customer delight by providing some gifts.

This will act as a customer acquisition program.

LIMITATIONS

Following are some limitations which affect our performance in the

organization. Indiamart.com is providing eminent facilities so as to increase and
maintain the performance of each and every employee in the organization.
 Some of the customers are satisfied with the present system of payment
through cash. They don’t want to pay online through payment gateway due to
limited resources or lack of vision and to avoid risk.

Factor like service charges also plays key role in payment gateway sytem
because customers are likely to respond to that services which offer maximum
advantage at minimum cost.

Many of the clients had bad experience as a result they have withdrawn from
it. The most likely reasons are unsatisfactory support , payment gateway error ,
uneasy acess etc. . Some of them had suffered heavy losses due to such errors.

Most of the organization is controlled from their respective headquarters as a

result the decision remains pending for a long period of time

 The absence of respective departmental head because of meetings or on leave

requires follow up on continuous basis.


Integration to payment processors is a time consuming process and requires going through their
certification process.

Payment processors send settlement reports in raw format which you need to parse and present in
a readable format.

In case of a server failure, some on-demand services may not be available

Their technical team is not well equipped to readily handle such hurdles. This
brings unreliability to their services.

Through 2checkout, clients can be billed for payments that were already
cleared in the past. This may consequently lead to
double payment or loss of payment. As a result,
 many businesses do not fully trust the reliability of
2checkout’s payment processing gateway services.

RECOMENDATION

As seen in the above section, IndiaMart offers huge potential. But IndiaMart will work only if payment happens.
Hence payment infrastructure is critical for IndiaMart transactions, and payment gateway is the base for all
payments. Without an efficient payment gateway Indian organisations may find it hard to partake in the rapid
growth and compete globally. The key question with Payment Gateway as defined in the paper is – who should do
it? The government may have to take up this issue with either the Central Bank (Reserve Bank of India) or the
Indian Banks Association (IBA). We suggest that various groups including government, central bank and individual
banks to come together to discuss the modalities and implement the Gateway. For example, this happened with the
Clearing Corporation of India Ltd. (CCIL), which has implemented online trading of government trading. Similarly,
the government may ensure that the Central Bank/IBA comes up with a solution just as in the case of CCIL. A
separate organisation called “e-Payment Corporation (EPC) maybe set up, which could be owned by the banks and
government. Some time back, the central bank had planned a similar exercise (called National Payments Corp.) but
nothing concrete happened – the main issue was that NPC wanted to begin operations migrate all older structures
into new. Banks were wary to be a party to this without NPC proving its capabilities. However, with EPC we
suggest, it takes care of all electronic payment systems and instruments. EPC may take ownership of the Payment
Gateway. Individual banks may have 2-5% share in EPC, and government 10-15%. Once EPC is established, a
specific timeline maybe set to initiate operations. We suggest that EPC take a maximum of one year to implement
the gateway. For this purpose it may explore tie ups with technology companies on BOT (Build Operate Transfer)
basis, with ownership retained with EPC.
The Payment Gateway would be an essential component for all kinds of international IndiaMart and e-
105 Towards Next Generation E-Government
governance transactions including B2C, B2B, B2G, G2C, G2G, etc. It would need to comply with all international
standards so as to work in conjunction with international businesses, governments, customers, etc. In addition, EPC
may also need to explore the option of linking the payment gateway with other payment systems (domestic as well
as international), international payment gateways, and financial networks (such as SWIFT). However, all
transactions and linkages must comply with central bank norms. In addition, it is suggested that EPC undertake
extensive marketing initiatives and negotiations with merchants and banks to enlist maximum participation. It is
recommended that the Payment Gateway begin with government transactions, which would be critical for
proliferation of several government services and provide the much needed infrastructure element in rural initiatives.
The gateway can then target corporate payments as well, thus helping cut down their procurement and logistic
expenses. However, online transactions can lead to heightened vulnerabilities. Hence stringent security management
is essential and the services of established Certifying Authorities (CAs) maybe used.
Other key recommendations are:

• The Government, it goes without saying, has the key role of facilitator. It must set in place appropriate rules
and procedures for the development of IndiaMart and hence, Payment Gateway. Policies must be developed
to ensure smooth functioning of Payment Gateways and the role of the latter in the national economy needs
to be recognised.

• The tax structure on online transactions will have to be worked out in such a manner as to promote the use
Payment Gateway. Rules and regulations have to be defined to encourage only genuine players and ensure
security. Policies have to be developed that help increase Internet accessibility, and affordability.
Appropriate networking infrastructure must be promoted. More importantly, steps must be taken to ensure
there is adequate support infrastructure in the form of electricity, transport logistics, postal and customs
systems.

• For transactions completed online, there must be concrete, “brick-and-mortar” delivery channels. In most cases,
delivery is effected by courier companies and postal departments. Therefore, their involvement is a must.

The Company should give training to the customers and keep seminars for
the customers.

CONCLUSION
 ACHIVEMENTS

 Understood the concept of “online payment gateway services”

 Types of options available in payment gateways.

 Got knowledge of how the organization functions.

 How to interact with clients.

 Understanding client’s perception.

 How to choose a particular gateway system.

 Filling up questionnaire forms, Performa invoices, Know your client (KYC)
Requirements.

 Understood concept of B2B portals, online marketing and mass advertising.

 Understood functioning of organizational hierarchy

 All formal communication channels used in organization

 How organization does measures performance of their employees.

 How to develop and maintain corporate relationship, etc.

BIBLIOGRAPHY
BOOKS

1. SET Secure Electronic Transaction Specification, Programmer’s Guide (1997), Version 1.0. Available at www.setco.org

2. Whitworth MJ (1999), Yes.Gate - Technical Description; Version 1.0: (Thyron Informatics (P) Ltd.)

3. Technologies for e-Commerce (2001); Center of Excellence for e-Commerce, CMC Ltd.

4. Keyes Jessica (1998), Banking Technology Handbook, CRC

5. Shaw. M.J. (200) Electronic Commerce: State of the Art (2000)

6. M. Shaw, R. Blanning, A. Whinston. Handbook on Electronic Commerce

 7. www.transecute.com, Accessed December, 2006

8. www.ccavenue.com, Accessed December, 2006

9. www.isabel.be, Accessed December, 2006

10. www.nets.com.sg, Accessed December, 2006

11. www.payseal.com, Accessed December, 2006

12. The ASEAN Regional Electronic Payment Gateway available at: http://www.bcsis.com.sg/ products11.html). Accessed
December, 2006

13. Retail E-Commerce Climbs 23 Percent in Q2 Versus Year Ago. Available at http://www.comscore.com. Accessed March,
2007

NEWSPAPER AND MAGAZINE

 Business World

 The Economic Times

 Business Standard

 Business line

WEBSITES
  www.IndiaMart.com

 www.google.com

 www.investopedia.com

 www.wikipedia.com

QUESTIONNAIRE

[1] Company Name

[2] Address

[3] Contact number

[4] Email ID

[5] Website

[6] Nature of Business

Manufacturer
Exporter
Domestic supplier
Export house
Import house
Buying agent
Stockiest
Wholesaler
Retailer
All
[7] Legal Status of your Business?

H.U.F
Partnership
Private Ltd Co.
Proprietorship
Limited Co.

[8] What kind of source of media you use to promote your company?

Print media
Personal reference
Online promotion services
Others
Exhibition/ trade shows

[9] Have you ever opted for online promotion services?

Yes No

[10] Do you know the companies which provide online promotion services?

Yes No

If, yes

Indiamart.com
Tradeindia.com
Exportersindia.com
Alibaba.com
Madefromindia.com
Indianyellowpages.com

[11] How much amount of money you spend to market your product/service
annually on Internet?

Less than Rs.10000

Rs.10000-20000
Rs.20000-30000
 Rs.30000 and More

[12] Are you interested in promoting your services online?

Yes No

[13] At which level would you like to promote your product?

Local
National
Global

[14] Are you satisfied with the present service provider?

Yes No

[15] Are you interested to participate in Exhibition/ trade shows?

Yes No

[16] Why would you like to advertise in Trade shows?

Maximum exposure through international distribution

Global buyers preferred choice
Minimum cost per business enquiry
International quality print, paper and design
Ensure virtual participation in major International trade shows

[17] Does your service provider provide you with existence verification, credibility
factors and statutory approvals?

Yes No
[18] Are you aware of online promotion services provided by INDIAMART.com?

Yes No

[19] Rank the following?

Indiamart.com
Tradeindia.com
Exportersindia.com
Alibaba.com
Madefromindia.com
Indianyellowpages.com

[20] Rank the following benefits which would you like to reap from the internet?

Tap new markers across the world

Reach potential buyers from over 200 countries
Lowest client acquisition cost
Be available to buyers 24 x 7
Get a global presence
Showcase an entire range of products