Table of Contents

Title Page
No.

Chapter 1 Introduction 1
1.1 Introduction 2
1.2 Formulation of Problem 3
1.2.1 Tool and Technology Used
Chapter 2 Literature Survey/Project Design 5
 CHAPTER-1
Introduction

Payment apps or mobile wallet refers to payment services that are operated under the rules of
finance and are operated using a mobile device. The idea of paying using cash, check, debit or
credit card has become obsolete. A new payment method that includes payment made using a
mobile wallet or mobile transfer is growing. The concept of mobile payment is gradually being
embraced and accepted worldwide in various ways. A special patent described as the 'Mobile
Payment System' was introduced as early as 2000. In some developing countries, the mobile
payment system is used as a means of extending financial services to those people who are
known to be bankers or ineffective. They are usually used for small payments. Money can be
deposited into the payment system before making any purchase or in some cases, a personal bank
account may be linked to a digital wallet for financial transactions.

Payment apps will have both software and information in it. Electronic payment systems are
secure and impartial making an important issue. The software assists in providing security and
encryption for personal information and for performing actual work.

Types of Mobile Payments

There are five different types of mobile payment models and they are

• Card-based payments
• Mobile Wallets Contactless Payments
• NFC (Near Field Communication)
• Carrier Billing (Premium SMS or direct carrier billing)
• Direct transfers between the payer and payee bank accounts on real-time based operations

This flexible payment system has gained great popularity across the country. Innovation
in NFC payment encryption transforms your mobile phone into a secure and easy
payment method. NFC is a short-range wireless network technology that allows data
 sharing between two devices up to 10 cm or more. This is supported by major payment
card networks, such as Visa, MasterCard, and American Express. To pay at any cash
table, placing the phone next to the scanner will be enough to take action. It is an
extension of the standard RFID (Radio Frequency Identification), which combines a
smart card with a student in one unit.. NFC Payment Performance To make payment
complete NFC reader and payment devices need to be close, and NFC chips exchanged
for encrypted data. This process allows the exit to run very quickly and securely and
makes NFC payments one of the most reliable and convenient payment methods. That is
why NFC-sponsored payments like Android Pay and Apple Pay have become a popular
customer payment option. Using radio waves near RFID labels used in the factory, in-
store, and other wireless tracking applications, a seamless connection between the two
devices is produced. NFC chips use a standard 13.56MHz RFID frequency that only
works when both chips are located very close to each other. Many digital eWallet
payment apps use NFC for advanced security as digital wallets only communicate with
NFC readers when one opens the app on a smartphone and selects a payment card to
complete the payment.
Another advantage of NFC security is that only one NFC payment device is connected to
NFC readers at a time. This reduces all chances of accidentally paying a nearby customer
for a purchase from others. NFC also enables its users to store their credit / debit cards on
their smartphones. This allows users to carry portable cards in their wallets to purchase
from online or offline stores.
A mobile wallet or e wallet app or an e wallet is an app that contains your debit and credit
card information that helps users pay for digital goods and services using their mobile
devices.
Popular online payment apps or payment apps or e-wallet lists in India include:
• Paytm
• Google Pay
• Amazon Pay
• JIO Free Money For SBI
• Airtel Money
• Payzapp
• MobiKwik
• Oxigen
• Olagen Money
• PhonePe
• MSwipe
• Axis Bank Lime Pay
• Umoney
• ICICI Citrus
• Packs etc.
In the case of Initial Payment using Online Payment Apps Registered users will enter their
phone number and the provider will send them an SMS and PIN User will enter the received
PIN, confirming the number Now the user must enter his credit card details. or alternative
payment method if required (not required if account is already added) and you will continue
to verify Payment Payments via E Wallet Apps The user will need to re-enter the PIN to
confirm and verify the payment process E-Wallets Instant Payments and the payment will
take place within a matter of a few seconds, instead of hours or business days in the e wallet
account. The feature offers great benefits as payments can be made anytime and anywhere
by making a quick transaction and this will increase personal and business finance control.
Visual and Virtual Card Performance The emerging technology has enabled the e wallet
app to store credit or debit card user data, which can be used to make cash transactions at
any time anywhere in the world. The advent of e-wallet makes user finances easier and
helps to integrate all their cards into one central location. A mobile wallet or payment
system is much safer to manage all your cards as you avoid them.
Features of Quick E-Wallets Payments
Transfers between payment and wallet will take place within a matter of a few seconds,
instead of hours or business days in an e wallet account. The feature offers great benefits
as payments can be made anytime and anywhere by making a quick transaction and this
will increase personal and business finance control. Visual and Virtual Card Performance
The emerging technology has enabled the e wallet app to store credit or debit card user
data, which can be used to make cash transactions at any time anywhere in the world. The
advent of e-wallet makes user finances easier and helps to integrate all their cards into one
central location. A mobile wallet or payment system is much safer to manage all of your
cards as it prevents the user from carrying a credit card. The software assists the application
to encrypt the card data without having to save the card number using the highest level of
security. The Bill Payments Payments App is one of the most important features of a mobile
wallet as most teens choose to pay off their debt online whether it be shopping, groceries,
restaurants, movie booking, airline booking, renting, teaching, resources, loans, and more. .
As the era of digital currency grows rapidly, portable wallets are becoming an integral part
of the basic services of the average person. Easy and Fast Self - Registration The main
purpose of e-wallet launch is to save people time, effort and facilitate transactions. The
simple self-registration process comes in handy for users who push them to go to the app
without having to think twice before using it. Generally, the registration process consists
of the following steps Downloading the app and using it on the mobile Sign up for it by
providing the required data Verification of registration Setting a password and logging
Connecting with a debit or credit card or bank account, on demand Adding money to the
wallet Finally using a wallet Although registration is a one-time process. important first
permanent permanent. Payments To and From Accountable Bank Accounts The payment
app will allow instant transfers to any bank including personal account at the same bank
and transfer to another person's account stored at different banks. The owner of the payment
app will have multiple options for sending and receiving business or personal money with
a few clicks wherever you are and at any time based on a requirement. One should first
download online payment apps on his smartphones. Most downloaded payment apps are
available for both Android and IOS based phones. Security When mobile financial services
come in handy, people prefer very high security to take you. It is important that money
transactions are safe and secure from one end to the other. Payment Mobile Apps can be
protected with many robust technologies such as passwords, simultaneous SMS passwords,
point and point encryption, security queries, biometrics, authentication band authentication
and more. Despite the proven fact that digital wallets are much safer compared to credit
cards, the growing concern for security in the minds of consumers remains a major obstacle
to adopting payment applications. Merchant Payments using Wireless Technology
Technological advancement has many retailers around the world who see the need to use
a variety of devices that accept digital wallets. Most of the retail customers have made
payment arrangements in the store using wallet wallets using contact methods that can be
used QR - code or field communication and so on. NFC or Near Field Communication is
a virtual remote technology that operates within a distance of up to 10 cm and provides
people with secure payments between the point of service devices and their smartphones.
Quick Response Code or QR code is one of the most popular payment methods and is very
similar to bar code. The user must first scan the QR code using a smartphone or camera
that translates the barcode and related application or an open website where payment can
be made. Most payment apps provide NFC and QR payment services as the need for a
seamless service and the comfort it offers users is growing exponentially. Coupons, Prizes,
Discounts The use of payment apps and e-wallets gives its users coupons, discounts,
rewards, loyalty points, and more. Digital Wallet solutions will work with many firms that
offer donations, discounts, coupons and payment processing services. E-wallets create an
ideal environment for consumers who want to trade with a huge amount of profits and help
the mobile wallet app stand out in the market.
 CHAPTER-2
Literature Survey

a review of the literature identifies existing research gaps in the field of research and helps
researchers further investigate a research area that has not been previously explored. Various
book review methods have been used by scholars such as systematic reviews, scoping reviews,
meta-analyzes and weight analysis for publishing state-of-the-art literature reviews. The current
study used a combination of systematic review (SLR) and bibliometric analysis techniques to
fully review the field of research that has helped collaboratively to help identify the structure of
intelligence. Mobile payment includes all electronic purchases, excluding time and space, using a
mobile phone and mobile network to transfer goods, services or information between two parties
(Nambiar et al., 2004). Technological advances in the payment ecosystem have dramatically
changed the lives of consumers and given them speed, comfort, choice and savings. The style of
mobile payment in India is on the rise. Chhonker et al. (2018) conducted a comprehensive
review of literature in the field of mobile commerce. The review was based on 184 articles
published between 2008 and 2017. Data for this review were collected by Scopus and the Google
website. The researcher explored the relationship between the builders using the organization's
mining mines and the public acquisition algorithm. Liu et al. (2019) conducted a meta-analysis to
identify factors that affect consumer behavior regarding mobile payment. Their meta-analysis
was based on 61 papers published between 2008-2017. The study used a web-based web-based
database to search for research papers. The findings of this study highlighted the area as a meta-
factor, in the view of the author being an important factor in the acceptance of consumer
behavior for mobile payments. Dahlberg et al. (2015) evaluated the progress of mobile payment
research using a five-power porter model framework. The review was based on 188 articles
published between 2007 and 2014. The study provided a comparative analysis of studies
published before and after the 2007 study publication. The author has scanned the online
information and conferences to reach the required number of research papers for research
purposes. Based on their comparative analysis, they provided useful information and community
recommendations for mobile payment research. De Albuquerque et al. (2014) conducted a
comprehensive scoping study of 94 peer-reviewed papers published between 2001 and 2011. The
study used a wealth of information to obtain research papers and performed consultation with
key stakeholders to validate their scoping research findings. The study revealed a psychological,
operational and spatial gap that exists in the payroll sector of m. Previously, Mallat (2007)
conducted a quality survey of a Finnish consumer to assess the acceptance of m payments. The
findings of the study highlighted the related benefits and limitations associated with the use of
mobile payments. The main objective of our research is to provide a comprehensive overview of
research published in the m-payment field between 2005-2020. The current study answers the
following research questions: -

Determining the production capacity of research literature?

Identify the most famous and powerful writers in the field of reading?

Identifying a highly influential work in the field of learning?

Identifying patterns of collaboration between authors and countries?

Identifying the general scope of research that flows among researchers in the field of research?

Determining the periodicity of m-payment research and the intelligence structure of research in
this area?
 3. Research method: -

The current study has used SLR as a process that involves its behavior is structured, repetitive,
transparent and repetitive in nature. In addition, it provides a basis for objective completion of
non-fiction studies for the author. Previously, Tranfield et al. (2003) have emphasized that
traditional reviews are plagued by authorship. The wide availability of electronic information
makes it easier for researchers to conduct systematic research at the right time. The current study
is a combination of SLR and Bibliometric analysis. First, we made the SLR by entering the
required keyword on the Scopus website and later systematically extracted a sample set of
research papers using the input and output criteria. The current SLR has also been simplified
with the help of analysis literature as this analysis examines the entire content of the research
paper. The main sources of research papers for our current research have been accessed on the
Scopus website. Scopus is the world's largest obscure and quote source of peer-reviewed
literature and contains essays from leading publishers. Keyword search is a great way to find the
right article for reading purposes (Almeida, 2018; Kaushik & Rahman, 2014). The search engine
unit used in Scopus — Title, abstract, keyword website was a combined search to generate the
most relevant research in our study area. In the second section, we performed a bibliometric
analysis of the literature on the payment of m to help understand the intellectual structure of the
research field. Previous research has used various software to perform bibliometric analyzes. In
our current study, we used VOS Viewer because of its ability to display large bibliometric maps
in an easily understandable way that was not possible with previous bibliometric software. In
addition, the software provides additional zoom, scroll, and search function, which greatly aid in
detailed mapping. Figure 1. represents the structure of the study.
METHODOLOGY

Research is based on secondary data. Materials were collected from books, journals, newspapers
and relevant sites that were consulted to make the research a success. TYPES OF DIRECT
PAYMENT 1. Payment Cards The most common types of credit card payment cards and debit
cards. Payment cards are usually engraved with plastic cards, size 85.60 × 53.98 mm, compliant
with ISO / IEC 7810 ID-1 standard. They also usually have a prepaid card number corresponding
to the ISO / IEC 7812 numeric number. Generally, the debit card is connected electronically to
the account or accounts of the cardholder. These accounts can be deposit or credit or debit
accounts, and the card is a way to verify the cardholder. A CVV number is a combination of
features used on credit and debit cards for the purpose of obtaining ownership and reducing the
risk of fraud. Payment cards require 2 item confirmations. Verification is the process by which
the credentials provided are compared to those in a file in the database of authorized users in the
local operating system. Verification features include the Knowledge factor (PIN), Possession
factor (ID card, Smart phone) and Inherence factor (Fingerprints, face or voice). Payment cards
can usually be categorized on the basis of their characteristics. That's right Credit Card: The
world's first credit card, which could be used in various locations, was introduced by Diners'
Club, Inc., in 1950. Another great card of this kind was introduced, known as the travel and
entertainment card. by the American Express Company in 1958.The Central Bank of India
became the first public bank to introduce a credit card. The credit card issuer creates a credit line
(usually called a credit limit) for the cardholder to which the cardholder can borrow. The
cardholder may choose to pay the remaining balance on the payment date or to refund the
minimum amount, not less than the "minimum amount", on that day. Bank card: The bank
card was started by Citi Bank .With a bank card, when the cardholder buys, the funds are
withdrawn directly from the cardholder's bank account. Smartcard: Banks add chips to their
current magnetic cards to enhance security and offer a new service, called Smart Cards. Smart
Cards allow thousands of times the information stored on magnetic line cards. In addition, these
cards are extremely secure, reliable, and versatile. They carry a large amount of personal
information, from medical and health history to personal banking and personal preferences.
Charging Card: For payment cards, the cardholder is required to pay the entire balance shown on
the statement, which is usually issued monthly, on the due date. It is a type of short-term loan to
repay a cardholder purchase. Goods Card: Ship card is used as a payment card, usually for
gasoline, diesel and other fuels at petrol stations. Gift Card: A gift card also known as a gift
voucher or gift token is a prepaid debit card issued by a seller or bank to be used as an alternative
payment to a particular store or related business. Store card: A credit card issued by a store
and can be used to purchase goods at that store. 2. Unstructured Supplementary Supplementary
Service Data (USSD) USSD is sometimes referred to as "Instant Codes" or "Feature Codes", a
protocol used by GSM mobile phones to communicate with a service provider's computers. The
standard USSD message starts with a star (*) followed by digits that include commands or data.
Digit groups may be separated by additional stars. The message has been terminated with the
symbol (#) .The new payment service * 99 # operates in the Unstructured Supplementary Service
Data (USSD) channel.

Digital Wallets Digital Wallet is a way to manage cash in a digital format. Credit card or debit
card information should be linked to a digital wallet system or money can be transferred online
to a mobile wallet. Instead of using a portable plastic card to make a purchase, it can be paid for
with a smartphone, tablet, or smart watch. for both digital wallet devices and digital wallet
systems.The wallet is simply a digital wallet in a portable handset. Currently there are other tests
for smart phones with digital wallet capabilities, such as the Samsung Galaxy series and Google
Nexussmart phones that use the Android operating system Google and Apple Inc. iPhone 6 and
iPhone 6 Plus. Many banks have their own wallets with private companies. e.g. Paytm,
Freecharge, Mobikwik, Oxigen, mRuppee, Airtel Money, Jio Money, SBI Buddy, itz Cash,
Citrus Pay, Vodafone M-Pesa, Axis Bank Lime, ICICI Pockets, SpeedPay etc.
REFERENCE:

1. E. Gordon and K. Natarajan “Banking Theory, Law and Practices” Himalaya

2. Felix. N, Fabian. M and Gibson .L.K, “The Impact of cash less policy on small scale
business in ogoni land of Rivers state, Nigeria,” IOSR Journal of Economics and Finance, e-
ISSN: 2321-5933, Vol. No. 6, Issue No. 3, May-June 2015, Pp33-38.

3. Aravind Kumar, “Demonetisation and cash less banking transactions in India ”