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A
Industrial Training Report
On
A STUDY ON SECURE WEB TRANSACTIONS
Submitted
In partial fulfillment
For the award of the Degree of
Bachelor of Technology
in Department of Computer Science and Engineering
Submitted To Submitted By
Dr. Subhash Chandra Jyoti
HOD, CSE 20ERWCS
Department of Computer Science and Engineering
Rajasthan College of Engineering for Women
Rajasthan Technical University
Session 2023-
Candidate’s Declaration
I hereby declare that the work, which is being presented in the Industrial Training/Seminar Report, entitled “ A STUDY ON SECURE WEB TRANSACTIONS ” in partial fulfillment for the award of Degree of “ Bachelor’s of Technology ” in Department of Computer Science and Engineering and submitted to the Department of Computer Science & Engineering , Rajasthan College Of Engineering For Women, Rajasthan Technical University is a record of my own investigations carried under the Guidance of Mr. Vinod Todwal , Department of Computer Science & Engineering, RCEW. I have not submitted the matter presented in this report anywhere for the award of any other Degree. Jyoti 20ERWCS Rajasthan College of Engineering for Women, Jaipur Counter Signed by Mr. Vinod Todwal Assistant Professor Department of Computer Science and Engineering i
Certificate
Certificate i Declaration ii Acknowledgement iii Abstract iv List of Figures v-vi List of Tables vii Table of Content viii- x Chapter 1 Introduction 1 1.1 What is Digital Payment? 2 1.2 What is Digital Wallet? 3 1.3 Introduction about Amazon? 11 1.4 What is Amazon Pay? 14 1.5 Security at Amazon pay 15 1.5.1 Advantages of Amazon Pay 16 1.5.2 Disadvantages of Amazon Pay 17 1.6 Importance of Cashless Payment 18 1.7 Future of Digital Payment in India 19 1.8 Need of Study 20 Chapter 2 Review of Literature 22 2.1 Review of Literature 22 Chapter 3 Research Methodology 26 3.1 Research Methodology 26 3.1.1 Objective of Study 26 3.1.2 Hypothesis of Study 26 3.2 Types of Study 27 3.2.1 Sample Size 28 iii 3.2.2 Sample Design 28
iv
S.No. Figure No. Title Page No.
vi
- 3.3 Data Collection Method - 3.3.1 Primary Sources - 3.3.2 Secondary Sources - 3.4 Limitations of Study
- Chapter 4 Data Analysis & Interpretation - 4.1 Data Analysis & Interpretation - 4.1.1 Gender - 4.1.2 Age - 4.1.3 Ever used Online Application for making online payment - 4.1.4 Ever used Amazon Pay for making payment - 4.1.5 Why adopt online payment over physical payment - 4.1.6 Concern while using e-payment - 4.1.7 After demonetization use of e-wallet have increased
- Chapter 5 Conclusion and Suggestions - 5.1 Conclusion - 5.2 Suggestions
- Bibliography - 1 Figure 1.1 Various Digital in India
- 2 Figure 1.2 Smartphone Wallets in India
- 3 Figure 1.3 Paytm
- 4 Figure 1.4 Google Pay
- 5 Figure 1.5 Phone Pay
- 6 Figure 1.6 MobiKwik
- 7 Figure 1.7 Yono SBI
- 8 Figure 1.8 MasterPass
- 9 Figure 1.9 BHIM Pay
- 10 Figure 1.10 PAYZAPP
- 11 Figure 1.11 Amazon Pay
- 12 Figure 1.12 Amazon Long Term Growth
- 13 Figure 1.13 Amazon vs Flipkart
- 14 Figure 1.14 What is Amazon Pay?
- 15 Figure 1.15 Growth of Mobile Users in India
- 16 Figure 1.16 Growth of Digital Commerce with increase of mobile payments
- 17 Figure 4.1 Data Analysis on Gender
- 18 Figure 4.2 Data Analysis on Age
- 19 Figure 4.3 Data Analysis on Payment Applications for making e-payment
- 20 Figure 4.4 Data Analysis on Amazon Pay for e-payment
- 21 Figure 4.5 Data Analysis on e-payment over physical payment
- 22 Figure 4.6 Data Analysis on Concern while using e-payment
- 23 Figure 4.7 Data Analysis on e-payment after Demonetization
I would like to thank the Assistant Professor, Computer Science and Engineering Mr. Vinod Todwal for his valuable guidance. I appreciate his presence for giving all discussions, suggestions and the time for me whenever I needed him. He consciously or unconsciously leveraged his key and creative insights wherever applicable in the project. Amidst of him busy schedule, he made himself available for any query related to project almost every time. I sincerely appreciate his contributions in terms of time and ideas. I would also like to give my special thanks to Director Dr. Vinod Chaudhary and HOD Dr. Subhash Chandra for providing the opportunity and support to me for this work. I would like to give my sincere thanks to, ……………… Assistant Professor, Department of Computer Science and Engineering for guidance and support. I would also offer my deepest gratitude towards the Management of Rajasthan College of Engineering for Women, Dr. Jitendra Singh Fauzdar and Mrs. Beena Singh , for providing me a spirit to put my every effort and hard work for the completion of the work. I also want to thank my all faculty and staff members, friends and family for their encouragement and support. In particular, I am grateful to my parents for their love and for instilling in me a deep sense of academic pride. Lastly, I offer my regards and blessings to all of those wh supported me in any respect during the completion of the work. Jyoti 20ERWCS vii
ABSTRACT
INTRODUCTION
INTRODUCTION Now-a-days world is becoming digitalized in every field and one of the best example of this is various countries in the world are moving towards becoming a cashless society. A cashless society is the one which doesn‟t use cash for any of its transaction instead all the transactions are done digitally. There are various countries in the world which have more than 50% of their transactions through cashless methods. According to a study conducted by Capgemini and BNP Paribas, digital payments are expected to reach about 726 billion transactions by the year 2020. In India 98% of the total transactions used to be done through cash but after the Demonetization of the Government on Nov 8 2016, our country has also started getting steered towards a cashless society. Due to the Demonetization act already existing mobile payment applications came into the limelight like Paytm, Google pay, Phone Pe etc. The Digital India program is a flagship agenda of the Government of India with vision to transform India into a digitally empowered society and a knowledge economy. “Faceless, Paperless, Cashless is one of the professed role of Digital India. The Prime Minister of India Mr. Narendra Modi has empowered India to adopt cashless transactions by giving digital payments sector of India a significant boost. The digital payment sector of India experienced a unpredicted growth since Demonetization in November 2016. Digital wallet companies in India has shown a growth of 271% for a total value of US$2.8 Billion i.e Rs 191 crores. A Google- BCG Report had estimated that the digital payment industry in India will experience a growth of US $ 500 billion by 2020. Government of India is also encouraging various digital payment apps such as Aadhaar Payment app, UPI App, Bharat Interface for Money (BHIM) app along with private sector apps like Paytm, Mobikwik, Freecharge etc. Such new apps are beneficial to transfer funds across various parts of our country. Digital payments industry in India is growing on a rapid pace providing a highly attractive platform for foreign investors to invest in India. 1.1 WHAT IS DIGITAL PAYMENT? Digital Payment means when any goods or services are purchased through the use of various electronic modes of payments which means there is no use of physical cash or cheques in digital payment. Now-a-days people use Digital Payments more is because Digital payment methods are easier and more convenient and they also provide customers the flexibility to make the payment from anywhere at any time which proves as a good alternative to the traditional methods of payment and which fastens the transaction cycles. 10 Types of Digital Payment methods in India:-
- Banking Cards- Debit/Credit / Prepaid Cards. 2
- USSD (Unstructured Supplementary Service Data).
- AEPS (Aadhar Enabled Payment System).
- UPI Mobile (Unified Payments Interface).
- Mobile Wallets.
- Bank Pre-paid Cards.
- POS Terminals.
- Internet Banking.
- Mobile Banking.
- BHIM App (Bharat Interface for Money). 1.2 WHAT IS A DIGITAL WALLET? An electronic device or online service that allows an individual to make electronic transactions is called a digital wallet. An individual‟s bank account can also be linked to the digital wallet. One in five customers in Asia are now using a digital wallet. Some of the popular digital wallets are PayTM, Freecharge, LIME, Jio Money, Airtel Money, State Bank Buddy, Citrus, Mobikwik, PayUMoney etc. Various Digital Wallets Apps in India:- Figure 1.1 Various Digital Wallets in India 3
Figure 1.3 Paytm ii. Google Pay:- Google Pay also known as G Pay or Pay with Google it is also one type of Digital Wallet and online payment system developed by Google. The services of Android Pay and Google wallet merged in January 2018 and the name was changed to Google Pay. On September 2017, Google launched an UPI-based app known as TEZ in India which was later rebranded as Google Pay. Google pay has more than 25 million active users in a month of the digital wallets in India. Google pay transactions are safe and secure. Google Pay enables you to:- Send and receive money. Store your credit/ debit card information safe. And use this information to pay for various items on various apps. Google Pay is known for its security among other similar digital payment apps. Google store your credit/debit card information in its secure servers using strong encryption. Cloud storage and data security of the customers is the prime concern of Google. 5
Figure 1.4 Google Pay iii. PhonePe:- PhonePe or PhonePe Private Limited it is an Indian e-commerce payment service and digital wallet company. PhonePe was founded in the year 2015 by its founders, Mr.Sameer Nigam and Rahul Chari and it was the first payment app in India which was built on Unified Payments Interface i.e (UPI). PhonePe is now available in 11 Languages. Phone Pe offers various services such as:- i. User can send or receive money through Phone Pe app. ii. User can make various payment- mobile recharges, DTH recharges, users can also make payments of shopping online on various apps. iii. Phone Pe even allows users to book tickets through various apps such as Redbus, Goibibo, Ola etc. Phone Pe app has more than 100 million users and it has crossed more than 5 billion transactions. Latest development of Phone Pe app is that it allows its customers to withdraw cash through its in app UPI feature which is also known as Phone Pe ATM, which means that transferring the said amount which has to be withdrawn to a nearby Phone Pe enabled merchant/ seller. 6
Figure 1.6 MobiKwik v. YONO by SBI:- This mobile wallet application was introduced by State Bank of India. This wallet offers its services in 13 Languages. The word YONO means You Only Need One, this app helps users to access various financial and other services, it acts as a Digital Banking platform which offers various services such as online shopping payments, booking tickets of (train, bus, taxi, flights), it also allows customers to make medical bill payments. YONO app was launched in the year 2017 by Mr. Arun Jaitley, the then Finance Minister of India. This app can also be used by customers to make ATM withdrawals as well as this app can be used to make various fund transfers, etc. Through YONO app a customer can track his/her OD account balance, can even open fixed deposit, recurring deposits, and can even invest in mutual funds. Customers can even track their loans through this app. Figure 1.7 Yono SBI 8 vi. CITI MasterPass:-
CITI MasterPass was launched by Citi Bank India and Mastercard. It is India‟s first global Digital wallet. Citi MasterPass safely stores the confidential information i.e the data of customers card and their shipping information is stored in their mastercard. So while making the payment the customer simply has to select the option of „Buy with MasterPass‟ as the payment option while checkout, by doing this the cutomers need not have to fill in all the details. By this feature the risk of customers confidential information can be exposed, as customer are always in need of safe, secure, simple and quick transactions while shopping. CITI MasterPass is present in more than 24 countries worldwide. In today‟s world around 41 % transactions of Citi Bank are performed through online mode because of its secure, safety and innovative services. Figure 1.8 MasterPass vii. UPI BHIM App:- BHIM stands for Bharat Interface for Money. BHIM App is developed by National Payments Corporation of India i.e (NPCI) and it is based on Unifies Payment Interface i.e (UPI). Our Prime Minister Shri Narendra Modiji had launched this app. BHIM App was launched on 30th December 2016 and is currently available in 20 languages. BHIM App accepts all Indian banks which works on UPI system and which is built over IMPS i.e Immediate Payment System which allows the user to transfer money to Bank accounts of any two parties. Using UPI system user can make transactions in an easy, quick and simple manner. Through BHIM App users can do the various services:- i. User can Send money. ii. User can Request money, for this it is mandatory that the users mobile number be linked with the bank account using. iii. For quick transactions users can Scan and Pay. 9 iv. Additional feature of BHIM App is that it allows the customers to check their transactions history.
v. You are ready to use Payzapp app. Figure 1.10 PAYZAPP 1.3 INTRODUCTION ABOUT AMAZON:- Amazon or Amazon.com is an American e-commerce company based in Seattle. Amazon is considered as one of the big four technology based companies along with Apple, Microsoft, and Google. Amazon is a company which focuses on E-commerce, Digital streaming, Cloud Computing, and Artificial Intelligence. Amazon is considered to be world‟s largest internet based company by its revenue. In the year 1994, Jeffrey .P. Bezos founded Amazon in Washington, by initially starting with an online market place for selling books, but gradually it expanded its business by selling electronics, video games, foods, toys, jewellery, software etc. Amazon was a technology company whose business was primarily simplifying online transactions to the customers. On 5th July 1994, Amazon.com was founded by Jeff Bezos as an online bookstore. Later Jeff Bezos incorporated the company as Cadabra in 1994 but changed the name to Amazon for the website launch in1995.. Today Amazon is a titan of e-commerce, logistics, payments, hardware, data storage, and media. In 2013 Amazon was launched in Indian Economy with an investment of USD$ 5 Billion. Amazon designed a payment gateway called Amazon Payments for both Amazon merchants and shoppers. 11
Figure 1.11 Amazon Pay Amazon offers various products and services such as:- Alexa, Amazon Fresh. Amazon Prime. Echo, Kindle, Fire Tablets and Fire TV. Amazon Digital Game store. Amazon Wireless. Amazon web services. Amazon follows four important principles and they are:- i. Customer Obsession rather than Competitor Focus. ii. Passion for Invention. iii. Commitment for Operational Excellence. iv. Long-term Thinking for the Company as well as for the Customers. Various Goals of Amazon are as follows:- i. Supporting Small Business:- Amazon provides a platform to small traders, businessmen, entrepreneurs to grow their sales and an opportunity to reach customers. In today‟s world more than 1.9 million business, traders, and developers use Amazon as a way to develop their business and reach customers to increase their business. ii. Creation of Jobs:- Amazon has more than 45,000 employees in its hometown i.e in Seattle. Amazon plans to create 1million jobs in India by 2025 through investing in the Indian market in technology, in infrastructure etc, which will be an addition to the 7 Lakh jobs the company has provided over a span of 6 years in India. 12
