GURU NANAK KHALSA COLLEGE OF ARTS SCIENCE & COMMERCE

(AUTONOUMS)

MATUNGA, MUMBAI 400019

“STUDY ABOUT GOOGLE PAY”

SUBMITTED BY

MOHIT HIRASKAR

B.COM (ACCOUNTING AND FINANCE) SEM VI

ROLL. NO. 78

UNDER THE GUIDANCE OF

PROF. SAMEER VELANKAR

IN THE FULFILLMENT OF THE DEGREE OF BACHELOR OF COMMERCE

(ACCOUNTING AND FINANCE)

UNDER THE

UNIVERSITY OF MUMBAI

2023-24
DECLARATION

I, MOHIT HIRASKAR, hereby declare that this project entitled “Study of

wealth management practices followed by common man” has been submitted
during the year 2023-24 under the valuable guidance and supervision of Prof.
Sameer Velankar in fulfilment of the requirements of the Bachelor of
Commerce (Accounting and Finance) Degree of University of Mumbai.

Further, I Extend my declaration that this report is a result of my original work.

ACKNOWLEDGEMENT

I would like to express my gratitude towards the Almighty.

I would like to thank the University of Mumbai and Guru Nanak Khalsa College for assisting.

I would like to express special thanks to my,

Principal – DR. Ratan Sharma

Vice Principle & HOD – DR. Anita Pasbola

Project Guide – Prof. Sameer Velankar

I would like to thank the non-teaching staff for helping me throughout the project.

I have taken efforts in this project. However, it would not have been possible without the kind
support and help of many individuals and organizations. I would like to extend my sincere
thanks to all of them.

I am highly indebted for their guidance and constant supervision as well as for providing
necessary information regarding the project & also for their support in completing the project.

I would like to express my gratitude towards my parents & non-teaching members for their
kind cooperation and encouragement which helped me in the completion of this project.

My thanks and appreciation also go to my friends in developing the project and people who
have willingly helped me out with their abilities.
CERTIFICATE

This is to certify that MOHIT VINAYAK HIRASKAR of B. com (Accounting and

Finance) Semester VI (2023-24) has successfully completed the project on “ Study about

Google Pay” under the guidance of PROF.SAMEER VELANKAR

Place:

Date:

Internal Examiner HOD & Coordinator External Examiner

Principal
CHAPTER PAGE
TITLE
NO. NO.
1. CHAPTER 1 INTRODUCTION

1.1 CONCEPT OF GOOGLE PAY

1.2 HISTORY
1.3 SERVICES
1.4 SECURITY OF GOOGLE PAY
1.5 FEATURES
1.6 BENEFITS
1.7 TRANSFORMATION OF GOOGLE PAY
1.8 SWOT ANALYSIS
1.9 HOW GOOGLE PAY WORKS?
1.10 OVERVIEW
1.11 MOBILE APP KEYS
1.12 IN-APP AND MOBILE WEB PURCHASES
GOOGLE PAY AND UBER DIGITIZE CAB
1.13
PAYMENTS
1.14 REWARDS
1.15 GOOGLE PAYS INDIA’S REVENUE
1.16 GOOGLE PAY FUND TRANFER
1.17 ALL ABOUT GOOGLE PAY
2. CHAPTER 2 REVIEW OF LITERATURE
3. CHAPTER 3 RESEARCH METHODOLOGY
4 CHAPTER4 DATA ANALYSIS AND INTERPRETATION
5. CHAPTER5 SUGGESTIONS AND CONCLUSION
6. CHAPTER 6 BIBLOGRAPHY
ANNEXURE
 Executive Summary

Just as digital technologies have transformed so much of our lives, from access to
information to communicating, the adoption of digital payments is fundamentally
transforming banking systems, commerce, and societies around the world. Digital payments
are full of promise. They can bring new levels of convenience and efficiencies. security and
transparency, access and growth. Countries that have rolled out payment systems are already
reaping the benefits. However, due to the inherent complexities of financial systems and of
deploying digital technology, there is no one-size-fits-all model. Rather, there are multiple
models for expanding the adoption and usage of digital payment solutions in a country, from
card networks in the developed world to closed loop stored value wallets and Google Pay
systems that facilitate bank account to bank account transactions at relatively low cost. In this
project, we'll focus on GOOGLE PAY systems. More than 50 countries have rolled them out,
with many more in the works. Google Pay are the rails for modern payment infrastructures,
offering near-instant transactions with a minimum of friction for all parties. They
fundamentally change how payments are made and the ways in which they can become
embedded in the new digital economy. They provide a foundation on which groups can build
new services that evolve and improve payments for consumers, merchants, financial
institutions, and governments. One example of an especially successful REAL TIME
PAYMENT model is in India. In a relatively short amount of time, India has made substantial
progress in transforming a complex and convoluted payments infrastructure. An ambitious
plan that brought together government, financial institutions, and Third Parties, India's model
is now ahead of what most financial systems around the world have achieved. Its success
offers lessons for other institutions developing or considering the introduction of GOOGLE
PAY system. This paper is neither a comprehensive review of India's payment system nor
analysis of policy. The development of any GOOGLE PAY system should be supported by a
robust understanding of the key policy and regulatory issues that need to be considered,
including aspects of institutional structure, data security, privacy, economies. of pricing,
disputes handling, and consumer protections. These are exciting times in the world of digital
payments, but in many ways it's just the beginning of a dramatic change in how the world
transacts. We hope you find this project useful and are also looking forward to what lies
ahead as the inevitable transformation of digital payments continues to gain momentum.
 CHAPTER.1

INTRODUCTION

1.1 Concept of Google Pay

Goole Pay (G pay) is a digital wallet platform and online payment system developed by
Google to power in-app and tap-to-pay purchases on mobile devices, enabling users to make
payments with Android phones, tablets or watches. Google Pay adopts the features of both
Android Pay and Google Wallet through its in-store, peer-to-peer, and online. Payments
services. Google Pay takes advantage of physical authentications such as fingerprint ID
where available. On devices without fingerprint ID, Google Pay is activated with a pass code.
The simple way to send or receive money with anyone, Shop, recharge, and more, Rewards
that are endlessly rewarding, pay nearby, more than 50banks listed under that Google Pay
wallet, money is protected. The Board of the Bank of Lithuania has granted Google Payment
Lithuania UAB an electronic money institution licence authorising to issue and redeem
electronic money as well as provide payment services. "The end of this year reflects our
efforts and experience of the past few years in actively developing a FinTech-conducive
ecosystem in Lithuania. Our regulatory environment and the benefits it offers have been
acknowledged by both startups and world-class FinTech companies," said Board Member
Marius Jurgilas. Google Payment Lithuania UAB is part of Alphabet Inc. (Google's parent
company). Having secured an electronic money institution licence, the company will be able
to issue electronic money and provide payment services to ensure smooth operation of its
marketplaces across Europe, alongside working on other payment services for consumers
within the European Economic Area, including Lithuania. The Lithuanian FinTech cluster
now includes more than 100 licensed companies, the majority of which are engaged in
activities related to payments, electronic money issuance as well as P2P lending and
crowdfunding platforms. Developing an environment conducive to competition and
innovation in the financial services field is one of the Bank of Lithuania's strategic directions
for 2017-2020. Google Pay (stylized as G Pay: formerly Pay with Google and Android Pay)
is a digital wallet platform and online payment system developed by Google to power in-app
and tap-to-pay purchases on mobile devices, enabling users to make payments with Android
phones, tablets or watches. As of January 8, 2018, the old Android Pay and Google Wallet
have unified into a single system called Google Pay. Android Pay was rebranded and
renamed as Google Pay. It also took over the branding of Google Chrome's autofill feature.
Google Pay adopts the features of both Android Pay and Google Wallet through its in-store,
peer-to-peer, and online payments services. The rebranded service provided a new API that
allows merchants to add the payment to websites, apps, Stripe, Braintree, and Google
Assistant. The service allows users to use the payment cards they have on file with Google
Play. The Google Pay app also added support for boarding passes and event tickets in May
2018. With over 2.2 billion active users and 2 billion monthly active devices, Google has
arguably one of the biggest user bases worldwide, with seven of its services surpassing
Billion users each. The cards used for users' purchases such as games and apps on
GooglePlay, content on YouTube, Google Photos/Drive, etc now become available to the
users regardless of where they are shopping. Integrate with Google Pay now and access the
incredibly vast number of stored payment credentials. Of course, Android Pay is accepted at
millions of stores, online shopping sites, and apps around the world. and the cards in Android
Pay are also available for users of Google Pay.

Android Pay (offline and online) Secure, one-touch payments Network-based tokenized
credentials Liability shift for Mastercard transactions It looks like the day will soon arrive
when your smartphone or smartwatch will replace your wallet. Instead of scrambling to
locate your credit or debit card to pay for items as you go about your day, you need only your
device and a retail terminal to pay for any product you need. If you shop online or in stores
using an Android phone, Google Pay is there for you. Like Apple Pay on the iPhone, the
Android-centric Google Pay lets you purchase products and services by linking your credit
card or various other payment sources to your Google account. The Google Pay app comes
preinstalled on new NFC-enabled Android phones, providing a secure system for sending
money to friends or family, purchasing items in stores, buying and storing events, airline, or
transit tickets, and tracking rewards and loyalty cards. Plus, you can send or receive personal
funds via

Google Pay completely free from your desktop, tablet, or mobile phone running Android 4.4
(KitKat) and later, or IOS 7 or later.

Google Pay, which evolved from a series of' previous merchant platform incarnations like
Android Pay and Google Wallet into a unified online digital payment service, now let’s pay
for merchandise on websites or within various merchant apps and is accepted by millions of
retail outlets in the U.S. and worldwide. To use Google, Pay on your computer. you must sign
in to puy. google.com. Google Pay is also available as a downloadable app for both I0S and
Android, though for iOS, Google restricts its use in the U.S. only. Many banks, as well as
PayPal, also integrate with Google Pay. Most of Google Pay's features are fully operational
on NFC-capable Android mobile devices, and in late-model Android phones, Google Pay is
included with the smartphone’s default apps. Google Pay for iPhone is used primarily to send
and receive funds between individuals or friends and family and within apps or websites. The
in-store contactless payment feature is not available for iPhones.

1,2 HISTORIES

Originally launched as Android Pay, the service was released at Google I/O 2015.Android
Pay was a successor to and built on the base established by Google Wallet which was
released in 2011. It also used technology from the carrier-backed soft card Google had
acquired its intellectual property in February 2015. At launch, the service was compatible
with 70% of Android devices, and was accepted at over 700,000 merchants. Google Wallet
still powered web-based Play Store purchases and some app-based peer-to-peer payments, for
instance in Gmail. pay the logo of the former branding of the service, Android Pav. As of
2017, it is currently available in the United States, Canada, Brazil, UK. Ireland. Spain,
Belgium, Poland, Czech Republic, Ukraine, Russia, Singapore, Hong Kong, Taiwan, Japan,
Australia and New Zealand. Upon its UK launch Android Pay supported MasterCard and
Visa credit and debit cards from many of the UK's major financial institutions including Bank
of Scotland, First Direct, Halifax, HSBC, Lloyds Bank, "with new banks being added M&S
Bank, MBNA and Nationwide Building Society all the time" according to Google. NatWest,
RBS and Ulster Bank will launch on September 14. On September 8, 2016, it was reported
that UK banks TSB and Santander will participate "over the coming weeks". Android Pay
was launched in Singapore on June 28, 2016, and in Australia on July 14, 2016. Android Pay
launched in the Republic of Ireland on December 7, 2016, and is initially available to
customers of AIB and KBC. The service works with both credit and debit cards. In 2016,
Google began a public trial in Silicon Valley of a related mobile app called Hands Free. In
this system, the customer does not need to present a phone or card. Instead, a customer
announces they wish to "pay with Google" and give their initials to the cashier, who verifies
their identity with a photo previously uploaded to the system. The customer's phone will only
authorize payment if its geographic location system indicates it is near a participating store.
On September 18, 2017, Google launched an UPI-based app Tez in India. On August 28,
2018, Google rebranded Tez to Google Pay. On January 8, 2018, Google announced that
Google Wallet would be merged into Android Pay, with the service as a whole rebranded as
Google Pay. This merger extends the platform into web-based payments integrated into other
Google and third-party services. The rebranding began to roll out as an update to the Android
Pay app on February 20, 2018; the app was given an updated design, and now displays a
personalize list of nearby stores which support Google Pay. On December 21, 2018, Google
Payment obtained an e-money license in Lithuania - license will enable Google to process
payments, issue e-money, and handle electronic money wallets in the EU.

1.3 SERVICES

Google Pay uses Near Field Communication (NFC) to transmit card information facilitating
funds transfer to the retailer. It replaces the credit or debit card chip and PIN or magnetic
stripe transaction at point-of-sale terminals by allowing the user to upload these in the Google
Pay wallet. It is similar to contactless payments already used in many countries, with the
addition of two-factor authentication. The service lets Android devices wirelessly
communicate with point-of-sale systems using a near field communication (NFC) antenna,
host-based card emulation (HCE), and Android's security. Google Pay takes advantage of
physical authentications such as fingerprint ID where available. On devices without
fingerprint ID, Google Pay is activated with a pass code. When the user makes a payment to a
merchant, Google Pay does not send the credit or debit card number with the payment.
Instead, it generates a virtual account number representing the user's account information.
This service keeps customer payment information private, sending a one-time security code
instead of the card or user details. Google Pay requires that a screen lock be set on the phone.
It has no card limit. Users can add payment cards to the service by taking a photo of the card,
or by entering the card information manually. To pay at points of sale, users hold their
authenticated device to the point-of-sale system. The service has smart authentication,
allowing the system to detect when the device is considered secure (for instance if unlocked
in the last five minutes) and challenge if necessary for unlock information. Spring CEO Alan
Tisch said Google Pay improves mobile shopping business by supporting a "buy button
“powered by Google Pay integrated within vendor's creative design.

1.4 SECURITY OF GOOGLE PAY

Google Pay generates a unique, encrypted number instead of your actual credit card number
when registering the transaction. Additionally, this virtual account number is removed if
screen lock is disabled on the user's device.

If a device is lost, Google's Find My Device service can be used to remotely wipe sensitive
information, if necessary. Users can also sign into their Google Pay account from another
device and remove any cards or bank accounts they have attached.

 All the Security You Need... And More

 Benefits- Whether you're racking up miles or earning points. and paying with Android
Pay or cards in your Google accounts, you can continue to do just that with Google
Pay. You'll enjoy all the same rewards, benefits, and protections you’re used to from
your bank.
 Safety - When you pay using Google Pay, your actual card number (Primary Account
Number or PAN) isn't stored on the mobile device or shared with the merchant.
Instead, Google sends an encrypted Payment bundle to the merchant that only a
trusted payment service provider such as Pay safe can decrypt. Further., when you pay
with Android Pay, your actual card number isn't visible even to the payment provider.
Google sends a virtual account number (digital PAN or DPAN) to represent your real
card (visible only to the issuer), so your information stays safe and secure.
 Peace of Mind - If your phone is ever lost or stolen. your cards with Google are still
safe, and you can use Android Device Manager to instantly lock it from anywhere,
secure it with a new password, or wipe it clean of personal data.

1.5 FEATURES

Google Pay offers language support for Hindi, Marathi, Tamil., and Telugu. You can use your
phone's ID or fingerprint scanner to secure the payment app. The Tez Shield security feature
helps detect fraud, prevent hacking, and verify your identity. It also offers a number of
cashback schemes for paying bills and transferring money. Keep a track of the money you
have earned from Google in the rewards section. If you refer Google Pay to a friend, you will
earn Rs.51 cashback. You can send up to Rs. Lakh in one day across all UPI apps. A single
transaction via the Google Pay app cannot exceed Rs.1lakhYou cannot use Google Pay to
transfer money for more than 10times in a day.

1.6 BENEFITS
Google Pay is one app that provides you with many ways to make your customers' buying
experience faster, more convenient, and more rewarding. Google Pay's powerful yet-simple
suite of mobile payment integrations helps you connect with customers to drive sales and
brand loyalty. Get started now and tap into millions of Android users in just a few steps.

 Merchant benefits

Here are some of the benefits merchants enjoy with Google Pay:

 Easy online integration: The simple Google Pay API helps you get up and running in
no time. Backend or server-side work depends on your payment processor and desired
method of implementation but is typically minimal.
 Increased sales: Faster, easier checkouts in stores can lead to more store visits. More
time spent shopping, and customers spending more money. When customers use
Google Pay to make purchases online, they aren't redirected to a third-party and stay
within your checkout flow for the entire transaction. Google Pay not only saves
customers time and effort but can lead to higher cart conversions for merchants.
Traffic. brand affinity, and engagement: When customers save your pass-through
Google Pay API for Passes, merchants build brand affinity and engage with customers
more intimately and more often. Google Pay API for Passes will even notify
customers to use these passes when they're near store locations or notify them about
their upcoming flight or event.
 No transaction fees: Merchants don't pay extra fees when customers use Google Pay
to make purchases.
 Enhanced security: Google Pay's card tokenization helps reduce merchant risk and
exposure to fraud.

 CUSTONMER BENEFITS

Customers enjoy a better experience when they choose to buy with Google Play, such as:

 Fast and cash purchases wherever they buy: In stores, customers speed through
checkout when they use Google Pay on their mobile device to tap and pay.
 No cost: Google Pay is a free mobile app available in the Google Play Store.
Customers don't pay extra transaction fees when they use Google Pay to make
purchases.
  Peace of mind: When customers use Google Pay to buy in stores, Google Pay doesn’t
send their actual credit or debit card number to make the payment. Instead, it uses a
virtual account number to represent the account information.

1.7Transform of Google Tez to Google Pay application.0FFERS

"Under 'Tez 1st anniversary offer', Google gives a chance to win rewards up to
Rs1,00,000 to a few lucky users who use Google Pay for their digital payments."

Tech giant Google has stepped up efforts to mark its presence in India's digital payments
space. The company rebranded Google Tez app to Google Pay on Tuesday and has introduced
an exciting deal for the users. Under Tez Its anniversary offer', Google gives a chance to win
rewards up to Rs I,00,000 to a few lucky users who use Google Pay for their digital
payments. The offer is listed on the app which is still available as Tez' on Google Play Store.

"It is Tez’s anniversary in September. Over the next few weeks, you could be one of fifty
million Tez users selected to Carn up to a lakh!" the description of the offer says. In order to
be eligible for this offer, the users must complete at least five transactions on Google Pay app.
The types of transactions that are eligible for the offer are - P2P and cash mode transactions
to other Google Pay users, payments to other bank accounts. Payments to merchants using
cash node, payments to merchant bank accounts and payments using a Google Tez UP ID.A
these transactions should be completed before 9 AM on September 18."After you complete
your next five transactions, you will be eligible to be entered into a Is anniversary offer draw
to Carn a reward worth Rs 5 to Rs 1,00,000. The more transactions you send or receive, the
better your chances of caring one of the higher bonuses. Google said that a total of 50 million
rewards are on offer as part of the deal which means that anyone who meets the offer criteria
will win some kind of reward. However. as the reward denominations vary from anywhere
between Rs 5 to Rs 1,00,000, so only a lucky few users (if at all) will even win the full
amount.

1.8 SWOT ANALYSIS

In this section of the report. we will be conducting SWOT analysis on Google Wallet to better
understand its capabilities for mass adoption. Based on this analysis. we recommend
leveraging on Google Wallet's strengths and opportunities in the market and also address its
weakness and related threats.
  STRENGTHS
1. Secure transactions/ Easy to use.
2. Core technology backed up by Google. 3. Integrated with Gmail to transfer funds on
the web, it might integrate Chrome in future.
3. Google Pay users receive 24/7 fraud monitoring, as well as purchase protection that
covers 100 percent of all eligible unauthorized transactions.
4. Users NFC chip, with a PayPass reader and a four-digit pin security code.
5. Google Pay is an invention which is simple and stripped-down, attracting those who
may be averse at the thought of obsolescing their credit cards.

 WEAKNESSES
1. Need a Gmail account for money transfer.
2. No support for tap and pay services for devices which are not higher than KitKat based on
April 2014.
3. So many bad reviews about Google Pay usage.
4. Some concerns are raised from Mobile network operators and analysis about security.
 Opportunities

1. The business model is based on Ads as revenue streams.

2. Google changed its model from pay per click to pay per wave in case of wallet. 3.
Merchants ranging from small to big are Google's existing customers. 4. Over 10 million
downloads form the market which are potential leads.

 Threats

1. PayPal filed a case against Google for security breach.

2. NFC is not yet a standard and secure technology for mobile payments. 3. Transferring the
funds through Gmail could be risky. 4. What if the mobile phone is stolen or lost, the user
cannot purchase in case of emergencies.

 Google Pay Send

Google Pay Send is the peer-to-peer payment function of Google Pay. Individuals can use the
service to send money to friends or other contacts by inputting their email address or phone
number into the application. Whoever receives the money must link the phone number or
email address to a bank account. Or if they have an existing Google Pay account, funds will
post directly to that account. Payments can be sent without fees through the app for Android,
IOS or through one’s Google Pay account on the web,

 Using Google Pay

The Google Pay service Works with hundreds of banks and payment providers. Specifically,
cards from Visa, MasterCard, Discovery and American Express are called out for support,
Users should check with their individual bank if they are unsure about its compatibility with
Google Pay. Additionally, the Google Pay user website maintains a list of supported banks by
country. There is also a Google support site list of featured stores and transit agencies that
support Google Pay. Users should look for the Google Pay symbol or contactless payment
symbol on a terminal. To pay, users must have the Google Pay app installed on their device
and have linked a card to their account. After using Google Pay, the list of previous
transactions is saved to one's Google account for later retrieval and record keeping.

1.9 How Google Pay Works...?

1. The customer chooses the Google Pay button. Using the Google API, your system
initiates the Google Pay request identifying CyberSource as your payment gateway,
passing your CyberSource merchant ID as the gateway merchant ID.
2. If the customer's selected payment credentials are tokenized or you are tokenizing new
payment credentials, the Google Pay service contacts the appropriate payment network to
retrieve the appropriate cryptogram.
3. The customer confirms the payment. The Google API contacts Google Pay services to
4. retrieve the consumer's payment parameters.
5. The payment network returns the appropriate token and cryptogram to the Google Pay
service.
6. Google creates energy pct. payment data using the gate ay-specific key that is supplied in
the Wallet request and includes it in the Google Apl response.
7. The Google Pay call back returns the encrypted payment data.
8. Your system prepares the (Google Pay response information for submission to the

CyberSource service.

a) CyberSource sends the authorization request to the acquirer.

 b) The acquirer processes the request from CyberSource and creates the payment
network authorization request. Google Pay Using the Simple Order API.
c) The payment network processes the request from the acquirer and creates the issuer
authorization request.
d) The issuer processes the request from the payment network. The issuer looks up the
payment information and returns an approved or declined authorization message to
the payment network.
e) The payment network returns the authorization response to the acquirer.
f) The acquirer returns the authorization response to CyberSource.

8. CyberSource returns the authorization response to your system.

9. Your system returns the authorization response to the payment application.

10. The payment application displays the confirmation or decline message to the Customer.

1. The acquirer submits the settlement request to the issuer for funds.
2. The issuer supplies the funds to the acquirer for the authorized transactions.

1.10 Overview

If you have or are developing a mobile app in which your customers will make purchases
directly, our Android SDK is the perfect solution for you. The Android SDK when used with
the Pay safe server-side SDKs - makes it simple and easy to process payments from within
our mobile app. Traditional card payment and Google Pay payment methods are supported.
including Android Pay. The SDK helps collect order and payment data and then passes it
securely to your server, from where the Pay safe server-side SDKs send the requests to the
Pay safe payment platform. This guide explains how to process payments with the Pay safe
Android SDK, using PacSafe’s REST-based APIs. Just follow these simple steps to start
processing transactions in your app:

1. Create a Test account in the Pay safe Developer Centre, if you don't already have One.
2. Your Google account should be configured on your device to get a token from Google
Pay.
3. Get your two API keys.
4. If you are integrating with Google Pay, note that your Gateway ID will be seats
gateway: pay safe.
5. Download our Android SDK.
 6. Integrate your Android app and your servers using the Android and server-side SDKs.

1.11 Mobile API keys

Before you begin will need two distinct API keys for processing Android mobile transactions
to ensure security and fraud prevention in case of mobile device theft or breach. API key to
request single-use tokens: For payment requests coming from mobile devices, you need to
retrieve single-use tokens from the Customer Vault. The single-use tokens are generated using
this API key. When you create a test account you get access to a web link that you can use to
create the API key for single-use tokens. On a live system. to get the API key for single-use
tokens, contact Customer Support to get enrolled for processing Android mobile transactions.
Once your account is set up. you will need to do this initial configuration in our merchant
back office. This key is not the same as the key used for server-to-server API requests. API
key for server-to-server API calls: Once a single-use token is retrieved -itis-valid for a one-
time use only- it is sent to your server. You must then use the API key for server-to-server
API calls to send requests from our server to the Card Payments API in order to process the
transaction, which will include the single-use token as a parameter. You must register on our
Developer Centre to get your Test account and Test server-to server API keys. The API keys
consists of two elements:

1)Key username

2) Key password

The key username and key password are combined into a string separated by a colon to create
an API Key -i.e... "Username: password.

If you have already registered, you can find these Test credentials when you sign in to the
Merchant Back Office

1.12 In-app and mobile web purchases

Although you'll probably use Google Pay primarily in stores, it's also useful for in-app
purchases. When you're purchasing something in an app that supports the service, you'||see a
prompt for Google Pay. Among the apps that support Google Pay in-app purchases are Lyft,
OpenTable, Hotel Tonight, Instacart, Etsy. Airbnb, Postmates., Fandango, and others.

If you purchase an item via a web browser Google Chrome, Safari, Firefox, or Microsoft
Edge on your phone, supported Google Pay sites can ease the checkout process.
  RETAIL STORES

Google Pay uses NFC contactless payments technology to let you purchase items in millions
of physical stores across the U.S. and 38 countries around the globe. Wherever you see the
Google Pay symbol, just unlock your phone and hover it directly above the terminal-you
don't even have to open the Google Pay app. Then wait to see the checkmark indicating that
your payment has been registered. With Google Pay, merchants do not have access to your
actual credit card number -the system operates by tokenization, which allows it to process
transactions via individual random account numbers rather than using real credit or debit card
account numbers.

1.13 Google Pay and Uber digitize cab payments. About Uber

Uber is a leading transportation network company in India with a presence in more than 100
cities. Uber services in India include peer-to-peer ridesharing, ride service hailing and food
delivery. Getting cash users to adopt digital Payments As a part of its expansion strategy in
India, Uber introduced cash as a payment mechanism on its app. However, managing cash
transactions across the entire value chain led to increased Overheads and expenses for the
business. Uber's objective, hence, was getting users to switch from cash to digital forms of
payment. Uber wanted to provide its users a payment mechanism which offered the
convenience of paying straight using their smartphones and reducing friction in finishing the
ride. Google Pay solution Google Pay and Uber worked together to bring Up based payments
to Uber users. Uber listed Google Pay prominently as a form of payment on the Uber app,
allowing users to discover and seamlessly link their Google Pay account with Uber. As soon
as the ride ends, user receives a payment request on the Google Pay app which they review
and approve. By paying directly from their bank account, users also don't have to worry about
carrying exact cash for their ride.

 Results

With the convenience of paying directly from their bank account and the assurance of Google
security, more than 50% of the riders switching to Google Pay were users who predominantly
used cash as a payment method in the past. 63% of these users were from outside the top 8
metro cities in India. Uber was hence able to drive a lot of value for its users and business as
a whole by integrating Google Pay a simple, reliable and secure payment solution.

 50%: More than 50% of users adopting Google Pay moved from Cash.
  63%: of users who adopted were from outside the top 8 metros.

1.14 Rewards

Like another payment app, Google Pay also offers rewards and cashback benefits, Current
offer is sending or receiving up to Rs.150 and chance of winning Rs. 1000. If you pay your
electricity bill using this app there is assure cashback of Rs.50. If you refer this app to your
friend, you will get assure cashback of Rs.51

 Gifts cards

The Google Pay API for Passes allows you to engage with users through gift cards. Concepts
discussed in this guide should help you better understand the capabilities of saved gift cards.

] This section covers use cases available only to the gift card vertical. This guide outlines the
following specific ways that you can use the Google Pay API for Passes to engage with your
customers for the Gift card vertical.

 Loan offer.

Google Pay has recently tied up with ICIC Bank. HDFC Bank and Kotak Bank for offering
loan on the move. If you are eligible, you will directly receive loan offer on the app. 0
Loyalty the Google Pay API for Passes allows you to engage with users through loyalty
cards. The concepts discussed in this guide should help you better understand the capabilities
of saved loyalty cards. This section covers use cases available only for the Loyalty vertical.

1.15 Google Pav India's revenue up 92% in FY19, profits

grew by over 75%.

A report by Razor pay showed that about 60% of UPI transactions were carried out
through Google Pay in May, followed by Ponape at 23%.

Google Pay seems to be doing very well in India with its monthly active users (MAU)

figure reaching 67 million, even higher that the S5 million MAUs that Phone boasts of.
as per a Financial Express report. The figure for Google Pay relates to September 2019,

while that for Ponape is for the month of June 2019. However, the difference does

show. A Razor pay report on the share of the UPI transactions says Google Pay handles.

60% of the transactions through the payment gateway while Ponape handles 23%.

This is reflected in the financial performance of Google Payment India as seen from the

company's filings with the Registrar of Companies (Rock). The revenue from operations

of Rs 3.76 crore for the financial year ended March 2019 is 92% higher than the figure

for the previous year. The company says it posted a profit of Rs 32.77 lakh which is.

higher by over 75%. The total value of transactions passing through the Google Pay app.

stood at S110 million.

It was in June this year that it was reported that Google Pay overtook Ponape in terms of

the number of transactions on its platform. The figures for May 2019 were 240 million.

for Google Pay while it stood at 230 million for Ponape. Paytm was the third at 200.

million. Translated into the absolute figures of amounts transacted, Google Pay handled.

Rs 55.000 crore. Ponape Rs 44,000 crore and Paytm Rs 38,200 crore.

However, there is a long way to go for the overall digital payments ratio to reach the

levels the government would desire. The proportion of payments being accepted by

merchant establishments through these digital payment transfers don't account for more.

than 20%o overall.

1.16 Google Pay (Tez) Fund Transfer Limit

The Tez Payment app is one of the most convenient ways of fund transfer. But this
convenience comes with some limitations. There is a transaction limit on the Google PAY
app. The limit is for the maximum transaction in a day and number of transactions in a day,
both.
  Maximum Transaction in a Day In a day. you can't transact more than I lakh
through the Google Pay app. This Lim ensures the security of your bank account.

Since Google Pay (Tez) app is based on the UPI Payment platform, it has to adhere limits of
the UPI. A Google Pay itself did not create this limit. This limit fixed by the UPI that is why
it is similar to other UPI apps such as Phone and Pay TM. The BHIM has a lower limit for
transactions. Per Transaction Limit the Google Pay (Tez) has given maximum flexibility
within the limits of UPI. Since Up has not set any limit for a single transaction, the Tez also
permit you to transfer money as per your wish. However, since there is a per day limit of|
lakh, hence a single transaction also can't exceed | lakh.

 Maximum Number of Transaction in Day

To enhance the security. the UPl has limited the number of transactions in a day. You can’t
use Tez more than l0 times for fund transfer. This limit works across the UPl apps. Suppose,
you have already used Phonepe 10 times in a day. In this situation, you can use Tez only 10
times for fund transfer.

 Banks can Set their Own Limit

There is another question mark on fund transfer through the Tez. If your bank (with which
you have the account) set a limit for fund transfer through the UPl apps. the Texas to follow
it. Indeed. some banks set a limit for transactions. The Google Pay gives you maximum
permitted flexibility. But other apps may not give you such flexibility. There may be a limit
by the app itself. Such as BHIM app itself limits the transaction amount.

1.17 All about Google Pay

GOOGLE PAY TERMS OF SERVICE FOR INDIA RESIDENTS Applicable Terms. Thank
you for using Google Pay. For purposes of the Combined Google Pav Terns (defined below),
"Google Pay" is a service that is provided to users resident in India by Google India Digital
Services Private Limited with registered office at Unit 207, 2nd Floor Signature Tower-II
Tower A, Sector 15 Part II Silo Khera, Gurgaon, Haryana, India, 122001 ("Google"), and was
previously named Tez. By accessing. downloading or using Google Pay, you agree to comply.

With the following

1. the Google Terms of Service (the "Universal Terms"):

2. this Google Pay Terms of Service for India Residents (the "Google Pay Terms").
3. the Google Privacy Policy (the "Privacy Policy").

4. the Google Pay Policies (the "Google Pay Policies"); and

5. Google Pay Offer Terms of Services ("General Google Pay Offers Terms")

These five documents are collectively referred to herein as the "Combined Google Pay
Terms." Please read cach of these Combined Google Pay Terms carefully, starting with the
Universal Terns as they contain important information about your legal rights, remedies and
obligations. These Combined Google Pay Terms constitute a legally binding agreement
between you and Google governing your access to and use of the Google Pay Services (as
herein defined). If you do not understand these documents or do not accept any part of them.
then you should not use the Google Pay Services. You understand that services may be
offered incrementally on Google Pay, and that these Combined Google Pay Terms may be
applicable accordingly. Use of Google Group Companies. You also understand and hereby
agree that Google reserves the right to use the services of its Group Companies (as herein
defined) to provide any of the Google Pay Services to you, on behalf of Google. You further
understand and agree that Google reserves the right to update any of these Combined Google
Pay Terms from time to time. You must ensure that you keep yourself up-to-date and read the
Combined Google Pay Terms at close intervals. If there is any conflict between these Google
Pay Terms and the Universal Terms, these Google Pay Terms will prevail accepting the
Combined Google Pay Terms, you represent and warrant the following: You are 18 years of
age or older; You are capable of entering into a legally binding agreement; and You are not
barred or otherwise legally prohibited from accessing or using Google Pay under the laws of
India. Third Party Terms and Conditions. Google may facilitate provision of third-party
products or services to you within Google Pay. In order to use these third-party products or
services, you may need to accept additional terms and conditions and meet additional
requirements.

 Scope of Google Pay Services

Google Pay ("Google Pay" or "Google Pay App") is a payment solution application which
facilitates Google Pay Service. Through Google Pay, you may send payments to service
providers, Users, Merchants, Billers or third parties using any Payment Instruments accepted
through Google Pay. You may also receive payments from other Users or third parties in the
Payment Instrument you designated in Google Pay to receive funds. In addition, Google Pay
allows you to communicate with or receive communications, offers and services from other
Users, service providers, Banks, Merchants and Billers. Google Pay may facilitate provision
of third-party products or services to you within Google Pay. These third-party products or
services are offered by parties other than Google and are subject to third party terms. You
may need to accept additional terms and conditions and meet additional requirements to use
these third-party services. You should only transact with a third-party product or service that
you trust. Google will not be responsible or liable to you for any loss incurred by you as a
result of your interaction with a third-party product or service on Google Pay. Mechanics of
Payment Transaction. The Payment Transactions or any communication/offers carried out
through Google Pay are solely between the Sender and Recipient of the payment. Google Pay
creates a link between the Sender, the Recipient and the respective Payments System
Providers to facilitate sending and/or receiving payments using Payments System Provider
Services. Once a Payment Transaction has been authenticated, authorised and processed
through the Payments System Provider

Services:

(I) the payment may be settled directly with the Recipient by the respective Payments
Participants; or

(ii) in certain scenarios, we may act as an intermediary and receive funds pertaining to the
Payment Transaction on behalf of the Recipient. In such scenarios, Google would operate
purely as the Recipient’s payment collection agent for the limited purpose of accepting] funds
from Users.

 Google's Role in Payment Transactions You understand and agree to the

following.
 Google is only a facilitator of Payment Transactions.
 Google is not a party to these Payment Transactions.
 Google is not a Payments System Provider.
 Google may. in certain scenarios, act as an intermediary and operate as a payment.
 collection agent for the limited purpose of receiving funds on behalf of the Recipient.
 Google is not and will not be responsible for any aspect of the products or services
you purchase.
 Google is not and will not be responsible for any communications made by you or
any.
 communication or offers made to you through Google Pay.
  Google is not a party to and will not be responsible for any disputes, chargebacks or
reversals arising pursuant to Payment Transactions.
 Google is not responsible for any act of Users, including, non-completion of
Transaction.

The facilitation of a Transaction does not guarantee that the Sender has sufficient funds
available in the Funding Account he or she used, that the Transaction will be authorized or
processed, or that the Transaction will not later result in a chargeback or other reversal.
Google is neither acting as a trustee nor acting in a fiduciary capacity with respect to any
Payment Transaction. Google does not determine, advise or in any manner control the
commercial terms of Payment Transaction, including the price of products and services
offered for sale. Your Use of Google Pay Age Restrictions. You must be l8 years of age or
older. in order to use (Google Pay. If you allow anyone to use your Google Account on
Google Pay, including individuals under 18 years of age, you will be responsible for ensuring
that such individuals comply with the Combined Google Pay Terms. You will be responsible
for all actions these individuals take in and/or through your Google Account on Google Pay.
Territorial Restrictions. To use Google, Pay, you will need to be physically located in India
when registering or linking your Google Account on Google Pay, have an Indian bank
account and an Indian mobile number. The Google Pay App should not be used outside of
India Basic Use Requirements. You will need a mobile, internet or any other supported device
("Device") that meets certain system and compatibility requirements, which may change from
time to time to use Google Pay. Your ability to use Google Pay and the performance of
Google Pay App may be affected by these factors with Google servers from time to time to
check for available updates to Google Pay, such as bug fixes, You agree that you are
responsible for such requirements, including any applicable changes, updates, fees and all
other terms provided under your agreement with your mobile device and telecommunications
provider. Google will not be responsible for any lapse of security or failed Transactions due
to your internet or Device service provider. Updates. You may need to install updates to your
Google Pay App or related Google software that Google introduces from time to time to
access, use, or continue to use Google Pay Services. Your Google Pay App may communicate
patches, enhanced functions, missing plug-ins and new versions (collectively, Updates").
Your use of Google Pay requires that you have agreed to receive such automatically requested
Updates. If you do not agree to such automatically requested and received Updates, then
please do not use the Google Pay App. Notwithstanding the foregoing, Google may update
the Google Pay App to a new

version of such app. irrespective of any update settings that you may have selected within the
Google Pay App or your device. if Google determines that the update will fix a critical
security vulnerabil1ty related to the Google Pay App. The Google Privacy Policy explains
how we treat your personal data and protect your privacy when using Google Pay.
Communications from or with Google. You agree and specifically consent to the collection,
storage and use of your information for communications from or with Google. You agree and
specifically consent that we may. on our own or through third parties. send you emails. SMS,
or communicate with you through other means. for: providing you with Google Pay Services
and transactional or account related information:

i. sending you payment related reminders updates:

a. promoting Google Pay Services or other Google services:
b. promoting Group Companies' services or our Third-Party Providers services.
ii. including any offers or schemes or prizes that may be provided by these entities.
iii. These promotions will not use your UPI Transactions Data:
iv. promoting new products and activities:
v. investigating or resolving any product or Google Pay Service-related concerns
including complaints: or
vi. obtaining your invaluable feedback.

In order to serve you better, we may also send you surveys to understand: () your experience
with our Services, and/or (ii) your needs and requirements. You may choose to, or we may
invite you to, submit comments or ideas ‘about Google Play Services, including without
limitation about how to improve the Service or our products. By submitting any idea, you
agree that your disclosure is gratuitous unsolicited and without restriction and will not place
us under any fiduciary or other obligation, and that we are free to use the idea without any
additional compensation to you. and/or to disclose the idea on a non- confidential basis or
otherwise to anyone.
 CHAPTER 2

REVIEW OF LITERATURE

Sin Dahlberg et al. (2008h), several literature reviews about mobile payments have been
written in 2013. Slade et al. (2013) exclusively reviewed mobile payment adoption papers
More recently. Denny and Sammon (2015) reviewed the 20 mobile payments cited in Gingko
Scho lar. Moreover. de Albuquerque et al. (2014) performed an exhaustive review by
including articles addressing mobile payment issues in developing countries We believe that
Mining articles focusing on developing and developed markets could cause confusion about
the progress of Google Pay research. In recent studies these issues have mainly been
embedded into strategy and ecosystem studies We will use the term cosy stem in the next
sections as a synonym to "m- market & providers. For more details and explanations about
the framework used, we invite the readers to refer to (Dahlberg et al. 2008b).

Sanghita Roy. Rd. Indrajit Sinha (2014) stated that E- payment system in India, has shown
tremendous growth. but still there has lot to be done to increase its usage. Still 90% of the
transactions are cash based. Technology Acceptance Model used for the purpose of study.
They found Innovation, incentive, customer convenience and legal framework are the four
factors which contribute to strengthen the Google Pay system. E-payment systems are
important mechanisms used by individual and organizations as secure and convenient way of
making payments over the internet and at the same time a gateway to technological
advancement in the field of world economy (Sloke & Pello,2015).

Rakesh H M& Ramya T J (2014) in their research paper titled "A Study on Factors
Influencing Consumer Adoption of Internet Banking in India" tried to examine factors that
influence internet banking adoption. It is found that internet banking is influenced by its
Perrin ed reliability. Perceived case of use and Perceived usefulness. In the process of internet
banking services expert should emphasize the benefits its adoption provides, and awareness
can also be improved to attract consumers* attention to internet banking services.
Kartikey a Bolar (2014)1n his research paper "End-user Acceptance of Technology Interface
in Transaction Based Environment "stated that Creators and investors of technology need
information about the customers" evaluation of their technology interface based on the
features and various quality dimensions to make strategic decisions in improving technology
interfaces and compete on various quality dimensions.

Nitsure (2014) in his paper observed that the problem being faced by developing countries
like India in the adoption of E-banking initiatives due to low dissemination of Information
Technology. The paper highlighted the problems such as security concerns, rules, regulation
and management. In India there is a major risk of the emergence of digital split as the poor
are excluded from the internet and so from the financial system. Balazs Vinai, general
manager.

Digital Channels, Misys (April 25, 2016), says that it is critical for banks to consider new
digital channels as part of an integrated strategy evolve from first to second generation digital
banking: switching digital from a supporting role to the primary sales and communication
channel for banks," sestina. "Reengineering processes around the customer is not easy, but
banks must embrace digital banking to remain competitive and relevant."

Mardi Kalianiwala, Head of Marketing & Business Intelligence, says that "Google.

Pay contributes a significant portion to our overall transactions. The half-screen checkout on
the Google Play app makes the product easier to adopt, thus leading to Simple, hassle-free,
and great user experience."
 CHAPTER. 3

RESEARCH METHODOLOGY

 OBJECTIVES OF THE STUDY

In this research, the major goal is to analyse the market potential and consumer perception
towards the Google Pay. It was done to find out the payment pattern endeavour of the people.
Keeping in view the objectives of the study, a questionnaire was constructed. As if, Payment
service provides need to take an end-to-end view of the payment opportunity in order to build
as sustainable business model. Thus, questionnaire was devised to fetch the above mentioned
information from the customers. Most of the questions in the questionnaire were objective in
the nature which helped the project to fill it with utmost case. The sample size for the
research was 100, which include all classes of people aged 18 and above.

1. To know why one has chosen Google Pay.

2. To know the convenience of the users.
3. To find out consumer interest while using Google Pay.
4. To study the level of awareness about Google Pay user.
5. To know the safety and security level of Google Pay for online payment.
6. To examine the age of respondents impacts on Google Pay.
7. To analyse the impact of customers education on usage of Digital payment.
8. To analyse the impact of customers income status on usage of Google Pay
9. To study the motivational factors which influence people to use Google Pay
10. To study the satisfaction level of customers for convenience in payment system

 Data source

Primary Data

Research is totally based on primary data. Primary data has been collected by interacting
With the various people. Interacting with people involves questioning the respondents to
secure the desired information by using data collection instrument called 'Questionnaire'.
Secondary Data

Secondary data is collected for the purpose of study. Secondary data can be used only for
reference. The secondary data has been collected through various journals and websites some
special publications of Google Pay.

 Limitation of the study

 Due to the time constrain all the customers were not covered.
 Research has done only at Mumbai/ Pune city.
 Some of the Persons were not so responsive.
 Possibility of error in data collection.
 Possibility to error in analyse of data due to small sample size.

SAMPLING

Sampling procedure

The sample is selected in a random way, irrespective of them being customer or not or
availing the services or not. It was collected through Google form and mails from known
persons, by formal or informal talk and through filling up the questionnaire prepared. The
data has been analysed by using the measures of central tendencies like mean, mode, median.
The group has been selected and the analysis has been done on the basic statistical tools
available.

Sample size

The sample size of my project is limited to 100 only.

Sample design

Data has been presented with the help of Graph, pie chart etc.