International Management Institute

Kolkata

2022

SUMMER INTERNSHIP REPORT

ICICI BANK

UNDER THE MENTORSHIP OF

MR. DHRUBAJYOTI DASGUPTA (Organization Mentor)

And

DR. AVINASH K. SHRIVASTAVA (Faculty Mentor)

SUBMITTED BY:

SONALI KOTHARI

21PGDM083

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 INDEX

SERIAL TOPIC PAGE NO.

NO.
1. Executive Summary 3
2. Acknowledgement 4
3. Objective 5
4. Introduction 6 - 11
5. Methodology 12 - 13
6. Project and Case Study 14 - 17
7. Analysis and Findings 18
8. Managerial Insights and Recommendations 19
9. Conclusion 20

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 EXECUTIVE SUMMARY
The banking business in India has a vast history that spans conventional banking
practices through the reforms period, nationalization to bank privatization, and
presently a growing number of international banks in India. As a result, banking
in India has had a lengthy journey. With the passage of time, the banking industry
in India has also reached new heights. The introduction of technology has resulted
in a change in the way banks operate. Digitization is the process of converting
data into a digital representation via the use of technology. Adoption of
digitization is critical for the banking industry. Banks may improve customer
service by adopting digitization. Customers benefit from this since it saves them
time.
The current study seeks to examine the Payment Gateway client acquisition
process. A payment gateway is a website that enables online transactions between
a merchant's website and a client. It is a useful service that allows internet
merchants to accept immediate payments. Payment gateways may be utilized on
websites as well as mobile apps. It securely checks the customer's payment details
and approves the transaction. Increasing client reach by providing a variety of
payment options such as UPI or QR codes, Net Banking, Credit and Debit Cards,
Wallets, and more.
During my internship, I worked on acquisition of a client for payment Gateway
Services. It was a process of on-boarding an OTT content creation firm
(WEBBOX) by assessing their website, apps, and fees based on their
requirements for payment gateway aggregator. As soon as the website
verification was successful, we finished the paperwork and verified that the
client's papers were accurate. Utilizing the online portal at http://cutt.ly/eppro,
complete the final onboarding process. In addition, we addressed any issues we
had with the payment gateway after integrating the RAZORPAY aggregator
(EAZYPAY PRO). I also looked at data from current users of the ICICI Bank
Kolkata payment gateway, answered any queries they had, and gave them new
products depending on their preferences. I’ve learnt about various ICICI Bank
products that provide consumers with bulk payment solutions that are secure,
safe, and straightforward, as well as account reconciliation. ICICI Bank's bulk
payment solutions are Bizpay 360 and I-Multipay, and the bank is delivering the
industry's first game-changing product, the "Bank plugin," which allows clients
of desktop-based accounting software to experience seamless banking and
accounting within the platform. Users can use the Bank Plugin from desktop-
based accounting ERP solutions to initiate payments with auto reconciliation. We
provide a safe digital payment option.

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 ACKNOWLEDGEMENT
I would like to use this opportunity to show my sincere appreciation and gratitude
to my Project buddy, Mr Dhrubajyoti Dasgupta Sir, and Project Guide, Ms
Paromita Chakraborty Ma'am, for helping me during my internship. It has been a
fantastic learning and fun experience.
I would like to express my heartfelt gratitude and profound thanks to all staff
members of ICICI Bank for their kind support and cooperation, which assisted
me in gaining a wealth of knowledge andexperience to successfully complete my
project work.
I'd also want to thank Ms Anushka Jain Ma'am and Pritam Salgaonkar Sir for
providing me with a thorough induction procedure and for assisting me
throughout the internship process by answering all of our internship-related
questions.
I would like to extend my heartfelt gratitude to Dr. Avinash K. Shrivastava, my
faculty mentor for reviewing my work and providing me valuable insights for
the improvement of my performance.
Last but not least, I want to thank my family and friends for their spiritual support,
fortitude, and encouragement during the endeavour.

Sonali Kothari

21PGDM083
International Management Institute, Kolkata

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PROBLEM IDENTIFICATION – OBJECTIVE
OBJECTIVES AS AN INTERN –
1. To understand the working of a banking sector and promotion of financial services
2. To learn how to deal with customers and develop problem solving skills
3. Understanding the services offered by ICICI Bank.
4. To explore the market potential of the products i.e., calling customers and knowing
their needs and grievances
5. To learn how customer’s queries should be handled and learn how to pitch products
6. To understand various banking policies and how these vary according to product
and clients.
OBJECTIVES AT BANK -
1. Find Possible Customers: We need to find potential company
profiles/merchants who want to use ICICI Bank's payment gateway
service.
2. Determine customer requirements: After finding potential clients, we
must determine their needs, such as whether the payment will be foreign,
recurring/subscription-based, or link-based (one time). We must provide
them with a payment gateway solution that meets their needs.
3. Addressing Payment Gateway Issues: We must examine current clients'
payment gateway difficulties and present them with appropriate solutions.
4. Offering customers a bulk payment solution: We need to discover
potential consumers who frequently make numerous payments and offer
them a Bulk Payments solution. Without having the need to pay the vendors
or employees individually, with ICICI Bank’s Bulk Payment solutions
(BizPay360 and I-MultiPay), the clients can pay in bulk, be it salary
payments or vendor payments.
5. Offering Auto-Reconciliation: In addition to payment gateway and bulk
payments, we provide our clients an Auto-reconciliation service using ICICI
Bank's Tally Bank Plug-in. The Tally bank Plugin gives the client with a
'Pay Now' option next to the payment voucher. This reduces the possibility
of mistake because the customer does not have to join the net banking
interface and manually enter the beneficiary's information.
6. Analyzing Customers Payment Behavior: We also need to examine
customers' payment behavior, throughput valueanalysis, monthly transaction,
MTD (Month to date) and YTD (Year to date) transactions, and how many
transactions they make in a month/year, among other things.

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 INTRODUCTION
1. ABOUT THE COMPANY
The Industrial Credit and Investment Corporation of India (ICICI) is an Indian
financial organization that was founded as a public limited company in 1955.
It is governed by the Indian Company Act. ICICI was founded to help the
privatesector's medium and small businesses grow.
ICICI Bank is India's largest private sector bank, with branches, state-of-the-
art Internet Banking, Mobile Banking, What Sapp Banking, and Phone
Banking providing a comprehensive variety of banking products and financial
services to Corporate, Small and Medium Enterprises (SME), and Retail
clients.
Investment banking, life and non-life insurance, venture capital, and
assetmanagement are among the Bank's specialized subsidiaries.
The bank has a network of 5298 branches and 13,846 ATM’s across India.
2. ABOUT PAYMENT GATEWAY AND PAYMENT
AGGREGATOR
 Payment Gateway is an internet tunnel that connects the merchant to the
customer's bank, allowing the merchant to receive payments in a variety of ways.
Credit cards, debit cards, net banking, UPI, Wallets, and other payment methods
are supported via a Payment Gateway. A payment gateway is a website that
enables online transactions between a merchant's website and a client. It is auseful
service that allows internet merchants to accept immediate payments. Payment
gateways may be utilized on websites as well as mobile apps. It securely checks
the customer's payment details and approves the transaction. Increasing client
reach by providing a variety of payment options such as UPI, QR codes, Net
Banking, Credit and Debit Cards, Wallets, and more. A payment gateway is a
convenient approach to streamline the payment process.
 A payment aggregator is a third party that manages and processes online
transactions for merchants. A payment aggregator allows customer payments to
retailers through credit card, debit card, bank transfer, e-wallet, or stored value
account without needing merchants to visit a bank. Payment aggregators profit
from the following:
 Network participation fees.
 data processing fees
 Charges from different mode of transactions
 International transaction fees
 Revenue from rewards programmes banks offer to cardholders, concierge
services, and marketing promotions for merchants, among others.

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  A Payment Aggregator provides clients with a variety of payment choices,
eliminating the need for a separate integration system. A payment gateway
(PG) is a corporation that offers the technological infrastructure for online
payment processing. This is the primary distinction between a payment
aggregator and a payment gateway. A payment aggregator manages funds,
whereas a gateway just supplies technology. Let's use the same analogy
that we used to describe thenotion of a payment aggregator. We know that
the clothing factory is comparable to the PA. The payment gateway is then
the equipment within the plant. All of this is made possible by technology.
As a result, a PA will open a merchant account for you, collect consumer
cash, and settle them with you. A payment gateway will assist you in
tokenizing the customer's payment information. Furthermore, it will
securely transfer information between the acquirer and the clients.

3. ICICI PAYEMENT GATEWAY VARIANTS

A. EAZY PAY PRO
Eazypay pro is a collection solution provided by ICICI bank to current account
customers.
It comes in two forms:
 Website integration, in which the client want to collect money
from itsclients via its website.
 Payment links: provided to clients who do not have their own website.
Thecustomer is provided access to a dashboard where he may build
payment links in bulk or individually and distribute them to his clients
through SMSand email. After obtaining the link, the buyer can pay
using any of the payment methods provided by eazypay pro.

Mandatory policies for proving Payment Gateway (Eazypay Pro)

1. Privacy policy
2. Refund policy
3. Return policy
4. Cancellation policy
5. Dispute Resolution
6. Terms and conditions
7. About us
8. Contact us

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 Features of Eazypay Pro and Eazypay Classic
FEATURES Eazypay pro Eazypay
Classic
International Cards on payment Links Yes No
Cash and cheque collection modes No Yes
Support for Plugins based Integration Yes No
Support for Mobile SDK Yes No
Support for wallets Yes No
EMI on Card Mode Yes No
Email Invoicing Yes No
Transaction Charges split option No Yes
Pre-approved MID /TID Yes No
Dynamic and static QR code Yes No
API Support Yes No
Recurring Payments and Subscription Yes No

B. EAZY PAY CLASSIC

ICICI Bank's own payment gateway is EazyPay Classic. It comes in four
varieties.
I. OPEN PUSH MODE
a. EazyPay Open form is generated for the payer to enter information as
specified by the Merchant.
b. The merchant's open form may be found using EazyPay's search
feature.
c. The URL to the merchant's open form can be supplied to the merchant
for sharing with payers, or it can be placed on the merchant's website
for later redirection to the EazyPay Page.
II. BILL UPLOAD MODE
a. EazyPay Template is created as per Merchant’s required fields.
b. Merchant can upload bills as per above in CIB
c. Automatic intimation to payers is provided through SMS and Email
d. Payer to open link and pay securely with OTP
III. PAYMENT GATEWAY MODE
a. Payment Gateway integration for website / E-commerce site of the merchant
b. For MIS merchant can define additional fields as mandatory and
optional
c. Additional fields passed by the merchant to EazyPayis

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 recorded for MIS purposes
d. Real time payment validation
IV. OVER THE COUNTER MODE
a. Collection through online modes for walk-in customers
b. Merchant OTC Login on EazyPay Page
c. Raise Bill and send notification to payer
d. Confirm payment through OTC dashboard

4. FEATURE COMPARISON OF EAZYPAY PRO VARIANTS –

On boarding Time
Razor pay Paytm Cash free CC Avenue

 T+2 days  Domestic - T + 1 day

 Domestic – T+1 days  T+2 days  International -
Twice a
 International – T+2
week(Tuesday's
days T is the date of
and Thursday's) T
transactionin Settlement
is the date of
Cycle.
transaction in
Settlement Cycle

Default Pay Modes

Razor pay Paytm Cash free CC Avenue

 Domestic cards  Credit  Domestic

 Domestic  Internet Banking cards(Visa,Mastercar cards
cards  UPI d,Rup ay)  Internet
 Interne  Paytm Wallets  Debit Banking
t cards(Visa,Mastercar  UPI
Bankin d,Rup ay)  Wallets
g  Net banking (54 Banks)
 UPI
 Wallets
 ICICI
Pay Later
 Smart Collect
–
NEFT/RTGS

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 On Request Pay Modes
Razor pay Paytm Cash free CC Avenue

 International  EMI on Cedit  EMI on  EMI

 EMI on Cedit cards CC  MultiCurrency
cards  Standing International  Paylater
 Standing Instructio with MCC &  AMEX
Instructio ns DCC Standing
ns  EMI on Instructions
 NACH Collection ICICI Debit
Cards

International Currency support

Razor pay Paytm Cash free CC Avenue

 Available with  Available only in  Available with  Available with

multi-currency NR Currency multi-currency NCC and DCC.
support. support.(27
foreign
currencies)

International Transaction –
 Paytm does not provide international collection or any of the other four
options.
 Depending on the aggregator, the domestic settlement time is T+1 and the
international settlement time is T+7.
 For international business we need 2 years CA certified financial statement
with international invoice as sample. It is subjected to the aggregator's
approval.
5. PREREUISITES FOR CUSTOMER TO AVAIL PAYMENT GATEWAY –
The following are the pre requisites for a customer to avail PG facility:
1. The retailer must have his or her own website or mobile app.
2. The website should be active and completely working, with all
products/services and price stated on it.
3. The merchant's website or mobile app should have extensive terms and
conditions, privacy policies, refund policies, shipping policies, a about us page,
a contact us page, and any other relevant information.
4. The merchant should only do one type of business, and his website should not
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 redirect to other websites.
5. The merchant should be able to integrate a Payment Gateway into his mobile
app or website using any of the available integration kits.
TARGET CUSTOMER SEGMENT FOR PG
 Tours and Travels
 Hotels and Restaurants
 Utility and Service Providers
 E-Commerce Companies
 Educational Institutions like Schools, Colleges, and Coaching Classes
etc.
 Super Markets, Apparel Stores, Grocery Stores, Electronics Stores
etc. who have online presence.
RESTRICTED CATEGORY FOR PG
 Gambling
 Casino
 Get rich schemes
 Ayurveda
 Chit fund
 Call centre
PAYMENT GATEWAYAGGREGATORS
1. Razor pay
2. Cc Avenue
3. Cash free
4. Paytm

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 METHODOLOGY
FOR ONBOARDING A COMPANY –
The first step of on boarding a company for payment gateway is website checking. We
need to check the below points in the website to prevent charge back –
1. Is the website opening and working properly, kindly check in both mobile &
computers & ensure website begins with https / https:
2. Website should not be having any broken links / errors, neither should it redirect
customer to any other page / website / product not getting added in cart.
3. Pricing of the products & services to be clearly mentioned on websites & should be
in line with customer profile.
4. Any customer opting for payment gateway facility need to have these 7 sections
mandatorily updated on website to be compliant – About Us, Contact Us, Privacy
policy, Terms and conditions, Returns, Refunds & Cancellation Policy, Shipping
Policy, Product Pricing & Catalogue should be clearly specified & matching with
account details on the website.
5. If customer is offering international product & services then those points also need
to be covered in website properly (Country, Communication address & Currency).
6. Restricted profile / companies which we should not be on boarding - Multi-Level
Marketing (MLM) , Online betting , Rummy , Poker , Casino , Online betting , Online
fantasy games, Bit coin, Crypto currency, virtual currency, Unregulated loan apps,
sales of livestock , Chit fund, lottery , auctioning , sale of counterfeit products , social
media boosting, escort services , friendship club , weapon & ammunition ,
pornography , unregulated pharmacy , sexual wellness product , money transfer ,
political policies , sale of vapes & e-cigarette , alcoholic beverages , Get rich schemes
, IND to drop shipping, sale of tobacco.
7. MCC code should be matching with correct business model (business category &
sub category).
8. Also, there should be social media presence with proper name (company name which
is there in the website)
If all the above points matched with company profile and website, then only we can
proceed further for on boarding.
FOR SOLVING CUSTOMER QUERIES -
During our internship period we have asked to call the existing clients for addressing
their issues. After gathering information from database, we need to call the customer
and these are the few steps of addressing the customer queries:
1. Contact the client and address their issues (if any): After gathering all the required
information, we need to call the customer, and ask them if they have any issues with
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 their existing product. Suppose, if someone is using EAZYPAY classic, but there is
not regularly transaction happening, then we need to ask them, the reason of this low
throughput, if he/she is facing any issues while using the product. And need to
provide solution/address the issue accordingly.
2. Introduce the new customers with the products and set an appointment with the
potential customers: After addressing the existing issue, then we can introduce them
about our other products like bulk payment and tally plugin. If someone need to make
blk payment on daily basis, then we can suggest them our bulk plugin applications,
BIZPAY 360, I-MultiPay. And, if someone is already using Bulk plugin, and use
tally software for account reconciliation, we can suggest them the Tally plugin. There
is a lot of manual work while using tally software. Generally, in tally software or
creating a ledger then we need to make the voucher. And then we need to download
the voucher, and then need to go to CIB (Corporate internet banking portal) and
upload the voucher to make the payment, and then need to comeback to tally for
account reconciliation. So, to avoid this manual work, ICICI introduced auto
reconciliation process i.e., tally plugin, where there will be a pay now option in the
same window of tally after creating the voucher, where one can make the payment
and then after its automatic reconciliation happened.
3. Fix Appointment for Demo and Assist the client with the product’s on-boarding
process: If the customer is willing to check the demo of the product, then we need
to fix an appointment with the client and if he is okay with that, we need to start the
on-boarding process.
4. Taking feedback from the customer after the customer starts using the product:
And after successful on boarding process of a product, we need to take feedback from
the client and check with them is there is any issues they are facing while using the
product.

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 PROJECT and CASE STUDY

DAILY PROJECT
OBJECTIVE
During our internship period we have asked to call the existing clients
for addressing their issues. These are the few steps by how we have done
our research on Customer Acquisition:
 Gather Client Information: There are some monthly reports of
steady flow data from which we can collect the existing client details.
 Check the client information: In the report, there are account details
of the client. We need to search the account number in the I-View and
then fetch the phone number and required details.
 The products the client is already using: In the report itself, there is
information of the existing product, the client is already using. We
need to note that product and address the customer regarding that
existing product issues.
 Check the throughput of the customer: From the monthly report we
can check the throughput of the customer, like average transaction
amount, and if the customer is using the existing products in every
month. If a customer is using a product for 3months in a row, then that
will be steady flow. We need to address those people who don’t use
the product on daily basis, and need to make sure if there are any
issues for which they are not using.
 Checking the business profile of the client before offering a
product: After checking the profile of the customer we need to
suggest them a product like, if a customer is suing EAZYPAY PRO
Product, then we can ask them if they are using bulk payment solution
or if they are using Tally so that they can on board ICICI Bank’s latest
product Tally Plugin.
QUESTIONS ASKED TO CLIENTS
 Why is your throughput rate low?
 Are you facing any issues with using the payment gateway?
 Do you need any additional support or services?
 What are the reasons for preferring other payment Gateway?

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SOME RESPONSES OF CLIENTS

 No Issues: The merchant company is using the payment gateway

without any issue. Their throughput value is normal.
 Company is making loss so throughput value is less: There are
many companies who faced huge loss during pandemic situation,
so their throughput value became less. But they are trying hard to
get back to the business normal. So, there is chances that their
throughput value become high in some days/months.
 Company using other modes of payments: There are some
business profiles who currently do not use the online payment
solution. Their transactions mostly happen by cashier cheque.

SOME CLIENTS APPROACHED AND THEIR RESPONSES

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 CASE STUDY
KRISAM PRODUCTION PRIVATE LIMITED(WEBBOX)
ABOUT THE COMPANY
 Krisam Production Private Limited was established on August 6, 2021. It is a
non-government organization in Kolkata. It has a paid-up capital of Rs.
100,000.
 It is involved in film, radio, television, and other forms of entertainment. It is
an OTT media hosting platform that gives Webbox android app users and
subscribers access to video content. The subscriptions earned are the major
source of revenue.
 Directors are Somnath Bhattacharya and Alora Chowdhury.
 It is Private Limited Company, company limited by number of shares.
REASONS FOR GIVING EAZYPAY PRO
 Webbox has a current account with ICICI Bank. The business came under
the self – employed segment.
 We came them pro because they required the facility of payments through
International cards, and this option is unavailable in Classic.
 They had a mobile app so Eazypay pro had the facility of Support for Mobile
SDK, hence it was suitable for the client.
 Digital underwriting for cards for all modes and Card detail savings without
PCI-DSS was liked by the customer.
ONBOARDING STEPS
A. The onboarding process begins with opening Eazypay Pro page and
completing the Merchant Signup Process which ends with an OTP
confirmation.
B. After merchant Signup is done, the main process of providing customer
with Eazypay Pro begins, and it has the following requirements to be
filled.
1. PRODUCT TYPE - Here Payment Gateway is offered to Webbox, using
RMID & SMID.
2. BUSINESS PROFILE – Their business category and subcategory was
OTHERS, and segment was B2B+B2C, and a detailed summary of their
business was same as their about us details.

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 3. MERCHANT DETAILS – Merchant’s name was ECOM MRKET
SELLER INDIA, and its other general details related to its business
suchas PAN, GST NO. , ADDRESS etc. were noted in this stage.
4. TRANSACTION DETAILS – We got a note of how many
transactioncan be expected from the client, and throughput rate
was estimated.
5. MIS REPORT – We provided them with our MIS report
facility byselecting all the options of reporting available.
6. APPLICANT DETAILS – Here the personal details of owner
(account holder) were noted down by us.
7. OTP VERIFICATION - After confirmation of OTP from
client, wesuccessfully on boarded our new customer.
BANK’S BENEFIT IN PROVIDING PAYMENT GATEWAY -
 After the firm is on boarded, and clients begin paying through
the payment gateway, the throughput value of the Bank, i.e.,
ICICI Bank, would grow. Throughput is the total of your
account's collections andpayments.
 When the throughput value increases, the bank's profit
increases, and when we on board a firm, we have a strong
connection with that company.
 We can recommend our other products, such as bulk payment
solutionsand tally plugins for automatic account reconciliation. If
they find our other products suitable for their company profile,
they will adopt them, and this will result in a strong tie with our
bank, and they will never search for another. It will provide us a
good reputation and profit.

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 ANALYSIS AND FINDINGS
A bank's payment gateway is one of its most important products. The
payment gateway connects the customer's bank account with the
merchant's bank account. It informs you whether a payment has been
denied or approved, and it allows you to move money between your two
bank accounts. Integration of an online payment gateway involves more
than just a mechanism to accept, store, and transport consumer data.
 When it comes to Payment Gateway Aggregators, ICICI Bank
has a wide range of options. When we compared the rates of
various payment aggregators, we discovered that ICICI Bank
payment aggregator’s are have faster settlement periods and are
comparatively low priced.
 Once a client is on-boarded, we can recommend our other products,
such as bulk payment solutions and tally plugins for automatic
account reconciliation. If they find our other products suitable for
their company profile, they will adopt them, and this will result in a
strong tie with our bank, and they will never search for another. It
will provide us a good reputation and profit.
 A lot of customers are unaware of their purchase, they don’t use the
product very often hence have forgotten about its utility. A monthly
service call asking whether or not they are facing any issues can
help in increasing the throughput rate.
 When ICICI Bank on boards a payment aggregator, they rigorously
investigate the company's and website's backgrounds to ensure that
fraud is unlikely. It essentially boosts client satisfaction.
 Apart from payment aggregators, ICICI Bank offers a wide range
of products, such as bulk payment systems and Tally plugin
software, with aim to promote digital transformation.
 IMPORTANCE TO THE BANK-
It is important for interns to understand their customer’s
background before making a service call. If an intern has a
thorough knowledge of what the customer’s use and require, they
can effectively pitch bank’s product to them.
As an Intern, I proved to be an asset for the company as I personally
did a thorough background check of KRISAM PRODUCTION
PVT. LTD, which helped me to on-board them for payment
gateway services, even though their initial requirement was just a
credit card.

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 MANAGERIAL INSIGHTS
AND RECOMENDATIONS
 Many clients don't remember making their purchase, and since they don't
use the service frequently, they have forgotten about its benefits. A
monthly service call asking whether they are experiencing any problems
could aid in boosting throughput.
 Since customers are scattered over various regions, a cross-branch
integration would help the specialist in field to go for installation services
for clients under various branches at once, instead of sending branch wise
specialist it would be beneficial for banks if area wise a person is
deployed for installation.
 A cross-departmental integration would also help the bank to sell more
products of the bank to the same customer, by briefing the customer about
various other facilities available at the bank which the client may be
needing in near future.

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 CONCLUSION
The following is the study's conclusion based on the analysis:
The company adheres to the Payment Gateway's laws and regulations
during the on boarding process. Before on boarding a firm for Payment
Gateway, they do athorough background investigation. However, there is
room for development in the following areas:
 Through automation, the process may become more formal and
error- free. It will be more unbiased and error-free if the bank can
create rulesand automation for evaluating their website before on
boarding.
 After the merchant has been on boarded, the bank should become
more involved. Because some consumers did not use payment
aggregators on a regular basis, they may be sent a formal reminder
through mail or SMS once a month to make them aware of the
payment gateway and encouragethem to use it.

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