SUMMER INTERNSHIP PROJECT

PRESENTATION ON
“Bajaj Pay- Merchant One App”
With special reference to
“BAJAJ FINSERV LTD,
CORPORATE OFFICE, PUNE”
FAHADULLAH JAWED
MM2123354
MARKETING
ABOUT BAJAJ FINSERV
Bajaj Finserv Limited is an Indian non- Click icon to add picture
banking financial services company
headquartered in Pune.
It focuses on lending, asset
management, wealth management
and insurance.
Its vision is to provide financial
solutions for retail and SME
customers through their life cycle
needs of the customers.
 LIFE CYCLE NEEDS OF INDIVIDUALS & SME
CUSTOMERS THAT BAJAJ FINSERV OFFERS

ASSET ASSET FAMILY WEALTH INCOME

ACQUISITION PROTECTION PROTECTION MANAGEMENT PROTEC TION

GENERAL HEALTH FD/MUTUAL LIFE INSURANCE

LENDING PENSIONS
INSURANCE INSURANCE FUNDS
SWOT ANALYSIS
 INDUSTRY ANALYSIS

• Capital markets, insurance, and NBFCs are the three

major sub-headings in the financial services industry

• Overall, the financial services industry is expanding, with

mutual funds managing $518.15 billion in assets. India
has also seen a 17 percent year on year increase in
systematic investment plans (SIP).

• Over the last decade, the number of high-net-worth

individuals (HNIWs) has increased at a CAGR of 4.1
percent.

• By 2025, India's HNWI population is expected to reach 6.11 lakhs. By

2028, India is expected to be the world's fourth largest private wealth
market
What is BAJAJ-PAY?
• Bajaj Finserv Ltd has developed a wallet application called Bajaj
Pay.
• It is on course to come out with an integrated payment solution
for merchants.
• The initiatives are part of its business transformation to focus on
building an omnichannel model to deliver significant business
velocity, reduce operating costs and improve customer experience
• BFL has received the Reserve Bank of India’s approval for
the digital wallet business.
• After receiving the nod, company has developed a wallet
application called Bajaj Pay.
• It will be offering an integrated payment solution
comprising UPI, EMI cards and credit cards to its customers.
 Role in the company

 Reading the training modules and understanding the Standard Operation Procedures (SOP) carried out within the

organization.

 Brainstorming sessions with company mentor to mitigate doubts if any. Also finding out new aspects of reaching out and

developing better strategies.

 To create standard operating procedures (SOPs) for merchants and FOS.

• To create various creatives, such as push notifications, to help increase user conversion rates

• Working on the Merchant Contest and managing information through trackers, updating them daily and publishing for a

clearer picture of progress against the daily goals set .

Work Done
COMPITITORS

BAJAJ
PAY
 PROBLEM STATEMENT:
 
"To penetrate the existing market with Bajaj-
pay QR."
 Objectives Of Project
• To find out whether Bajaj Merchant One app and QR working properly.
• To find out the issues faced by merchant while using the Bajaj Merchant One app.
• To find out whether customers shift to Bajaj Merchant One QR from other QR.
• To find out the advancement needed to do in Bajaj Merchant one app.
• To handle Merchant Contest.
• Preparation of standard operating procedures (SOPs).
• To learn project management aspects.
• To design various creatives.
• To Run and track the progress of contest through Clever Tap.
Data Interpretation

Q1.Does the QR properly worked after installing?

27%

Yes
No

73%

Interpretation- Form the above pie chart, we see that 73% of the respondents said it worked
properly, while 27% showed some issues.
 Q2.Have you tried to convince your customers to pay using Bajaj Merchant QR?

36%

Yes
No

64%

Interpretation- Form the above pie chart, we see that 64% of the respondents convinced the
customers, while 36% did not.
 Q3.Have you explained customer about the advantages of using Bajaj Merchant QR?

16%

Yes
No

84%

Interpretation-Form the above pie chart, we see 84% of the respondents did not explain the
advantages to customers, while 16% explained it to customers.
 Q5.Does QR work properly while making payments by the customers?

31%

69%

Yes No

Interpretation-Form the above pie chart, we see 31% of the respondents faced no issue, while
69% of the respondents’ faced problems.
 Q6.Have you got the 2x benefit after the transactions?
13%

Yes
No

87%

Interpretation-From the above pie chart, we see that 87% of the respondents got 2x benefit, while
13% did not receive it.
 Q3.Have you explained customer about the advantages of using Bajaj Merchant QR?

16%

Yes
No

84%

Interpretation-Form the above pie chart, we see 84% of the respondents did not explain the
advantages to customers, while 16% explained it to customers.
 FINDINGS
1. A F T E R I N S TA L L AT I O N O F Q R T H E F O S M U S T M A K E T H E 1 P E N N Y
T R A N S A C T I O N A S P E R T H E C O M PA N Y ’ S G U I D E L I N E S , 7 3 % O F T H E
M E R C H A N T S S A I D T H AT I T W O R K E D P R O P E R LY W H I L E R E S T W E R E FA C I N G
SOME ISSUES.

2. O N LY 6 4 % O F T H E M E R C H A N T C O N V I N C E D T H E C U S T O M E R F O R U S I N G
BAJAJ QR. 36% HAD NOT EXPLAINED, WHICH IS NOT GOOD FOR THE
C O M PA N Y.

3. I T I S A L S O F O U N D T H AT 8 4 % O F T H E M E R C H A N T H A D N O T E X P L A I N E D T H E
OFFER TO CUSTOMER FOR USING QR, WHICH IS A MAJOR ISSUE AS
CUSTOMERS MIGHT NOT USE THE QR WHICH WILL AFFECT THE BUSINESS
R E G A R D I N G P E N E T R AT I O N O F Q R .

4. A C C O R D I N G T O T H E S U RV E Y S , 6 9 % O F T H E M E R C H A N T S C A M E U P W I T H
I N T E R FA C E P R O B L E M B E C A U S E O F T H E B U G I N T H E A P P L I C AT I O N .
T R A N S A C T I O N A N D N O T I F I C AT I O N I S S U E WA S A L S O F O U N D I N T H E A P P B Y
40% OF THE MERCHANTS.
Learnings from SIP

• Project management skills and maintaining a project charter

on a day-to-day basis.
• Learning the use and functionalities of CleverTap software;
thereby knowing its use in application management.
• Getting a gist of business analytics by creating various
dashboards which were beneficial in chalking out the overall
performance of the project and other benchmarks.
 LIMITATIONS

• It is difficult to enter the market when existing major players dominate the
QR code payments industry

• Making merchants understand new payment portal operating procedures is a

difficult task. Indeed, this complicates the development of SOP.

• The target market is limited to merchants who use Android devices.

• The UPI transaction procedure consists of 18 steps and four participants:

the PSP, the sender bank, the NPCI, and the receiver bank. This complex
transaction structure increases the possibility of failure.
 RECOMENDATION
• It is necessary to find out the reason for improper installation of QR. If there might be any technical issues
during installation, FOS must be trained properly to keep the business running. If there is any other issue,
company needs to check that it will not happen again

• Convincing the customer is more important for using Bajaj QR, so that they will slowly shift from
competitor’s QR.

• Ensure the FOS to informs the merchant to spread the benefits of using Bajaj QR to customers.

• Bajaj Pay is a brand-new participant in the UPI Payments sector. It needs significant improvement to
compete with all the major rivals, such as Paytm, Phonepe, GPay, and many more. The bugs from the app
should be removed quickly so that it will work smoothly, and merchants may no longer face issue while
using the app.
 References
P R O F. S A N A K H A N A N D M S . S H R E YA J A I N ; A S T U D Y O N U S A G E O F E PAY M E N T S F O R
S U S TA I N A B L E G R O W T H O F O N L I N E B U S I N E S S ; I O S R J O U R N A L O F B U S I N E S S A N D
M A N A G E M E N T; A P R I L 2 0 1 8 ; E - I S S N : 2 2 7 8 - 487X, P-ISSN:2319-7668; LINK:
HTTPS://WWW.MET.EDU/UPLOADFILE/DOCUMENTS/MS_SHREYA_JAIN_EM BA_STUDENT.PDF

D R . C . V I J A I ; M O B I L E WA L L E T A N D I T S F U T U R E I N I N D I A ; J O U R N A L O F E M E R G I N G
T E C H N O L O G I E S A N D I N N O VAT I V E R E S E A R C H ; M AY 2 0 1 9 ; ISSN:2349-5162; LINK:
HTTPS://WWW.RESEARCHGATE.NET/PUBLICATION/341000530_MOBILE_ WA L L E T _ A N D _ I T
S_FUTURE_IN_INDIA

S O M A N J O L I M O H A PAT R A ; U N I F I E D PAY M E N T I N T E R FA C E ( U P I ) : A C A S H L E S S I N D I A N E -
T R A N S A C T I O N P R O C E S S ; I N T E R N AT I O N A L J O U R N A L O F A P P L I E D S C I E N C E A N D
E N G I N E E R I N G ; J U N E , 2 0 1 7 ; D O I : 1 0 . 5 9 5 8 / 2 3 2 2 - 0465.2017.00004.1;LINK:
HTTPS://NDPUBLISHER.IN/ADMIN/ISSUES/IJASEV5N1E.PDF

J AYA R A M N A R AYA N A N ; A S T U D Y O N G R O W T H O F U P I A P P S I N I N D I A A F T E R C O V I D
O U T B R E A K ; J O U R N A L O F E M E R G I N G T E C H N O L O G I E S A N D I N N O VAT I V E R E S E A R C H ;
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THANK YOU!!