Google Pay "International": An Empirical Study Exploring the Google Pay's "International" Feature in Comparison with its Competitors like Paytm ...
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Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Google Pay “International”: An Empirical
Study Exploring the Google Pay’s
“International” Feature in Comparison with
its Competitors like Paytm, PhonePe etc.
and Understanding Customer Point of
View in Indian Digital Payment Market.
Pawan Kalyani
pawankalyani@gmail.com
Abstract: The concept of digital money transaction use digital money to pay for their transactions like
have been increased in India from last few years, purchasing petrol at petrol pump and mobile recharges
the two major motivating reasons behind this could the reason behind this is reward points and cash back.
be demonetization and COVID-19 pandemic
situation other key factors are Increased awareness, The concept of the reward points and cash back were
Government policies, smartphones and Internet new to the people and for the digital payment system
connection with 4G etc. Earlier selected people and that was picking up very fast. People are moving
using digital money to pay, the major areas were towards digital payment from small street hawkers and
petrol pump and mobile recharges the reason shop owners to big malls everyone is accepting digital
behind this is reward points and cash back. This payment and people are rapidly using digital payment
was a new concept getting paid back for the services system to pay for their transactions. Due to rewards
or products. This gives the reason to boom the and cash backs Paytm was very popular in digital
digital platform and competition between them. The payment system there are other prominent player in the
major players were Paytm and Google Pay and market like Google Pay, PhonePe, Mobikwik, JioPay,
others are growing in the market like PhonePe. In Airtel Pay etc. There has been strong competition
this research paper the author is going to get the between Google Pay, Paytm and PhonePe. Earlier
view point of the users, people are using multiple Paytm was market leader in India but because of the
applications to pay digitally for their own reasons transaction charges its popularity decreases and Google
and what they think about the expansion of Google pay and PhonePe has taken over the market. Moving a
pay from local to “international” reach in digital step ahead, Google Pay has introduced the facility of
payment. To get the view point the author has International Payment feature with collaboration with
developed a set of questions and same has been Western Union and Wise. This gives more financial
floated through various social media to get the flexibility to the merchants and customers as well as
responses. people who want to send or receive Money overseas
Keywords: Google Pay’s “International” , Google due to pandemic situation. Western Union and Wise
Pay, Paytm, PhonePe, Customer Point of View, are two big prominent players in the money market for
Wise, Western Union, Whatsapp Pay transferring the money from one country to another
to the family or relatives. People can send or receive
I. INTRODUCTION the money but in the family circle. Now collaborating
the power of these two established players, Google
The demand of digital payment has been grow very
Pay goes to international now people can send the
in last two years the concept of digital money
money “internationally” to their contacts who are
transaction and their service providers have been
registered with Google pay through them.
increased and many players are in the market like
Government and Private with UPI, Digital Wallet, II. RAISE OF DIGITAL PAYMENTS IN INDIA
Payment Banks etc. the two major motivating reasons
could be demonetization and COVID-19 pandemic The raise of digital payment in Indian condition where
situation in India other key factors are Increased cash is the king in the market for various reasons
awareness, Government policies, smartphones and deal in cash only. In last few years the digital
Internet connection with 4G etc.. Earlier a few people has been increased.
1 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Image 1. Showing digital form of payment
Source:https://www.outlookindia.com/outlookmoney/fintech/r
ise-of-digital-payments-and-upi-in-india-5685
Digital Payments Grows At 55% over Past Five
Years, Reveals RBI Data
Image 3. Showing India preferred digital payment service
providers. [3]
• During this period, the value has grown from INR Source:https://www.statista.com/statistics/1105962/india-pref
920.38 lakh Cr to INR 1,623.05 lakh Cr erred-e-payment-services/
• FY20 witnessed a massive surge in volumes over
the previous year to 3,434.56 Cr Table 1. Showing the details of Digital payment from the year
• In January 2020, RBI governor Shaktikanta Das 2016 to 2021 [4]
Source:https://www.npci.org.in/what-we-do/upi/product-statis
had claimed that digital payments account for
tics
around 97% of daily payment system transactions *this data excludes the transactions having debit/credit to the same
in terms of volume [1] account for the month of August 2018 onwards
No. of Banks Volume (in
Month Value (in Cr.)
live on UPI Mn)
May-21 224 2,539.57 4,90,638.65
Apr-21 220 2,641.06 4,93,663.68
Mar-21 216 2,731.68 5,04,886.44
Feb-21 213 2,292.90 4,25,062.76
Jan-21 207 2302.73 4,31,181.89
Dec-20 207 2,234.16 4,16,176.21
Nov-20 200 2,210.23 3,90,999.15
Oct-20 189 2,071.62 3,86,106.74
Sept-20 174 1,800.14 3,29,027.66
Aug-20 168 1618.83 2,98,307.61
July-20 164 1497.36 2,90,537.86
June-20 155 1336.93 2,61,835.00
May-20 155 1,234.50 218,391.60
Apr-20 153 999.57 151,140.66
Mar-20 148 1,246.84 206,462.31
Feb-20 146 1,325.69 222,516.95
Jan-20 144 1,305.02 216,242.97
Image 2. Showing growth of Digital Payment Dec-19 143 1,308.40 202,520.76
Nov-19 143 1,218.77 189,229.09
Source:
Oct-19 141 1,148.36 191,359.94
https://www.thehindubusinessline.com/news/digital-payments
Sept-19 141 955.02 161,456.56
-in-india-to-grow-to-717-of-all-payment-transactions-by-2025
Aug-19 141 918.35 154,504.89
-report/article34204827.ece [2] July-19 143 822.29 146,386.64
June-19 142 754.54 146,566.35
May-19 143 733.54 152,449.29
Apr-19 144 781.79 142,034.39
Mar-19 142 799.54 133,460.72
Feb-19 139 674.19 106,737.12
Jan-19 134 672.75 109,932.43
Dec-18 129 620.17 102,594.82
Nov-18 128 524.94 82,232.21
Oct-18 128 482.36 74,978.27
Sep-18 122 405.87 59,835.36
Aug-18 114 312.02 54,212.26
July-18 114 273.75 51,843.14
June-18 110 246.37 40,834.03
2 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
May-18 101 189.48 33,288.51 Image 4. Showing a user using smartphone to access digital
Apr-18 97 190.08 27,021.85 payment platform.
Mar-18 91 178.05 24,172.6 Source: Internet
Feb-18 86 171.40 19,126.2
Jan-18 71 151.83 15,571.2
Dec-17 67 145.64 13,174.24
Nov-17 61 105.02 9,669.33
Oct-17 60 76.96 7057.78 The Reserve Bank of India has come up with a
Sep-17 57 30.98 5,325.81 ‘composite Digital Payments Index (DPI)’ to measure
Aug-17 55 16.80 4,156.62
the extent of digitization of payments in India.
July-17 53 11.63 3,411.35
June-17 52 10.35 3,098.36 Announcing the development recently, the central bank
May-17 49 9.36 2,797.07 said that the RBI-DPI consists of five key parameters
Apr-17 48 7.20 2,271.24 that would capture “deepening and penetration of
Mar-17 44 6.37 2,425.14 digital payments in the country over different time
Feb-17 44 4.38 1,937.71 periods,” RBI said in a statement. The digital payments
Jan-17 36 4.46 1,696.22 ecosystem is currently dominated by large technology
Dec-16 35 1.99 707.93
players including Paytm, PhonePe, Google Pay, and
Nov-16 30 0.29 100.46
Oct-16 26 0.10 48.57 recently launched WhatsApp Payments. India’s UPI
Sep-16 25 0.09 32.64 payments had shot up 82 per cent in the current fiscal
Aug-16 21 0.09 3.09 year’s Q2 along with a 99 per cent jump in value from
Jul-16 21 0.09 0.38 the year-ago period, according to the Worldline India
Jun-16 21 0.00 0.00 Digital Payments report.
May-16 21 0.00 0.00
Apr-16 21 0.00 0.00 The five parameters based on which RBI would
measure the penetration of digital payments included
• Payment enablers
Looking all the facts and figures above, it is very clear
• Payment infrastructure – demand-side
that there is increase in the digital payment processing.
factors
According to the table 1, a very few banks live on UPI
• Payment infrastructure – supply-side
and the transaction is “ZERO” in Apr 2016 and from factors
2019 to 2021 there is incredible visible growth in UPI • Payment performance
transaction and banks UPI facility. Currently almost all • Consumer centricity.
banks are dealing with UPI transaction, not only
government banks all the private banks and other Each of these parameters also consisted of
players are contributing their efforts in digital sub-parameters which, in turn, included various
transaction. measurable indicators. The RBI-DPI index was set-up
with March 2018 as the base period with the score set
According to the BussinesLine, “Digital Payments in
at 100. “The DPI for March 2019 and March 2020
India to grow to 71.7% of all payment transactions by
work out to 153.47 and 207.84 respectively, indicating
2025”. www.statista.com, showing various players in
appreciable growth. Going forward, RBI-DPI shall be
the e-payment system in February 2020. The chat
published on RBI’s website on a semi-annual basis
shows that Paytm is on the top and followed by Google
from March 2021 onwards with a lag of 4 months,”
Pay and PhonePe and other players.
RBI said. [5]
People find very easy to operate the digital transaction
The key factors responsible for the rising adoption of
through apps like Paytm and Google Pay other than
digital payments in India:
easy operating they are getting cash back and rewards
to have extra benefit on what they spend. Increased awareness
III. FACTORS FOR THE BOOM OF DIGITAL Consumer acceptance of digital modes of payments has
PAYMENTS GROWTH IN INDIA shot up in recent times, especially after demonetization
in November 2016. Millennials and Gen Z consumers
are comfortable with digital payments and use them
more than often. By not accepting digital payments,
merchants are going to lose out on a sizeable chunk of
business.
Government policies
The incumbent government's focus on achieving a
cashless economy in India has led to the introduction
of several policies favoring merchants who are
integrating digital payments.
3 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Example: In her maiden budget speech, India's Finance
Minister Nirmala Sitharaman had proposed that
establishments with annual turnover of more than 50
crore shall offer low-cost digital modes of payment,
such as BHIM UPI, Aadhaar Pay, UPI-QR Code, debit
cards, NEFT and RTGS, to customers and no charges
or Merchant Discount Rate (MDR) shall be imposed
either on customers or merchants. With the passage of
the Finance Bill, this proposal is now part of the law
and will come into effect on November 1.
Quick onboarding and ease of use
Gone are the days when complex technology used to
act as a hindrance to digital adoption. At Pine Labs for
instance, we use best-in-class technology to design
products that are easy to use and help merchants grow
their business. We also have a dedicated customer
onboarding team to help merchants seamlessly
Image 5. Showing UPI transaction in millions from Dec 2019
embrace digital payment solutions.
to September 2020. [7]
Source:https://www.pwc.in/assets/pdfs/consulting/financial-se
Smartphone proliferation and internet expansion rvices/fintech/payments-transformation/the-indian-payments-
handbook-2020-2025.pdf
Did you know that the number of smartphone users in
India are expected to double to 859 million by 2022
from the 468 million users in 2017? Add to it the fact The above chat in the image 5 shows the UPI based
that India (12%) has surpassed the United States (8%) transactions done in the month of Apr 2020 a downfall
and is now the second largest internet user base in the can be seen clearly than continuous raise in volume of
world, as per Mary Meeker's Internet Trends Report transaction is shown in the chart. This is the time of
2019. These facts point to the fact that digital payments most affected period of the Indian economy due to
are only going to point north from here onwards. COVID-19 pandemic situation
Regulatory support IV. MAJOR PLAYERS IN INDIAN DIGITAL
RBI's May 2019 release of a vision document titled,
PAYMENT MARKET
"Payment and Settlement Systems in India: Vision In a market where cash is still king, digital payments
2019-2021" is a step in the right direction. The are quickly gaining ground as India’s 1.3 billion people
document outlines 36 specific Action Points for turning are starting to embrace online shopping and services
India into a Cashless Economy and such efforts on the such as online gaming and streaming. With India’s
part of the banking regulator is the need of the hour to smartphone user base approaching 1 billion and Credit
further expand the digital payments infrastructure in Suisse Group AG predicting $1 trillion in online
the country. payments in the country in 2023, the companies chosen
to enable such transactions stand to reap lucrative
Improved technology
commissions.
The influx of new and emerging technologies will only
strengthen the fintech ecosystem in India. Through our • One of the consortia consists of Amazon, Visa,
own experience of integrating fast, secure, reliable and Indian retail banks ICICI Bank Ltd. and Axis
scalable technology we have been able to demonstrate Bank Ltd. as well as fintech startups Pine Labs
improved ROI for our merchant customers. [6] and BillDesk.
• Second group is led by billionaire Mukesh
This exponential growth of the digital payment sector Ambani’s Reliance Industries Ltd. and its partners
is driven by multiple factors including convenience to Facebook and Alphabet Inc.’s Google, which
pay, the ever-growing smartphone penetration, and rise together agreed to invest more than $10 billion in
of non-banking payment institutions (payments bank, Reliance’s digital services unit last year.
digital wallets, etc.), progressive regulatory policies • Paytm heads a group that includes ride-hailing
and increasing consumer readiness to the digital startup Ola and at least five other companies, that
payment platform. is third
• The fourth consortium consists of Tata Group,
Mastercard, telecom operator Bharti Airtel Ltd.
and retail banks Kotak Mahindra Bank Ltd. and
HDFC Bank Ltd. [8]
4 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
There are UPI based banking apps and third party apps • MobiKwik
available in the market that a customer can use • MudraPay
according to their preference and ease. Here is the list • My FASTag
of the various apps. [9] • Omegaon
• PhonePe
UPI Bank Apps • Realme PaySa
• Samsung Pay
• BHIM Axis Pay UPI App and Freecharge • TrueCaller Pay
• BHIM Bandhan UPI • Ultracash
• BHIM Baroda PAY • WhatsApp Pay
• BHIM BOI UPI • YuvaPay
• BHIM Canara - eMPower
• BHIM Cent UPI V MARKET SHARE OF MAJOR PLAYERS IN
• BHIM DCB Bank UPI
INDIAN DIGITAL PAYMENT MARKET
• BHIM DLB
• BHIM Indian Bank UPI
• BHIM Indus Pay
• BHIM IOB UPI
• BHIM JK Bank UPI
• BHIM KBL UPI
• BHIM KOTAK Pay
• BHIM KVB Pay
• BHIM LOTZA UPI Payments APP
• BHIM LVB UPAAY
• BHIM Maha UPI
• BHIM PNB
According to a digital payments tracker by Motilal
• BHIM PSB
Oswal Financial Services Limited (MOFSL), which
• BHIM RBL Pay
analyses digital transactions between FY2020 and till
• BHIM SBI Pay
• BHIM SIB UPI February 2021 (FY2021), UPI payments grew 93%
• BHIM UCO UPI year-on-year to over INR 41 Lakh Cr. Notably, UPI
• BHIM Union Bank UPI App processed transactions worth INR 4.25 Lakh Cr in
• BHIM YES Pay February 2021, almost doubling from INR 2.22 Lakh
• City Union Bank UPI Cr in February last year. The UPI transaction volume
• CSB UPI also grew from 1.32 Bn to 2.2 Bn in the same time
• Digibank frame.
• Fino Bpay
• HDFC Bank Mobilebanking
• HSBC Simple Pay
• IDFC Bank BHIM UPI App
• iMobile By ICICI Bank and Pockets
• JetPay
• My Airtel - Online recharge, Pay Bill, Wallet, UPI
• Paytm App
• PayZapp
• RBL Mobank 2.0
• Tranzapp – UPI
Third Party Apps
• Amazon Pay
• Angel Broking
• Bajaj Finserv Direct Ltd
• CoinTab Image 6. Showing top 5 digital payment apps and their market
• Cred share till Feb 2021.
• Goibibo Source: NPCI Website
• Google Pay
• Google Pay
NPCI data showed that in February 2021, PhonePe
• JustDial
processed 42.5% of all UPI transactions, while Google
• khaalijeb
Pay processed 36.1%. Paytm accounted for 14.8%,
• Make My Trip
Axis Bank App’s share was 2.8% and Amazon Pay
• Maxwholesale
held a 1.9% market share.
• MI Pay
5 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Payment Service Providers (PSPs) or the banks that
facilitate UPI transactions on behalf of the apps
through the multi-bank model, will be charged with
ensuring compliance, NPCI said.
“The design principle used in this is to control the
volume cap by means of user on-boarding on the
third-party application (TPAP’s) payment platform”
the circular stated.
Currently, there are over 50 third-party applications
that are operational in India on UPI. [10]
"The current 160 million unique mobile payment users
will multiply by 5 times to reach nearly 800 million by
2025. This growth will be driven by a number of Image 8. Showing Mobile payments in comparison to card
demand and supply-side drivers," RedSeer Consulting payment in terms of billions of rupees.
said. [11] Source:https://www.spglobal.com/marketintelligence/en/docu
ments/indiamobilepayments_2020finalreport.pdf
Data compiled June 1, 2020 and Source, Reserve Bank
of India; National Payments Corp. of India. Card
payments represent point-of-sale transactions
completed using debit and credit cards, and include
online transactions. Mobile payments represent
transactions processed through stored-value wallets
Image 7. Showing Mobile payments growing faster than cards and Unified Payments Interface, a real-time interbank
in India [12] payment network.
Source:https://www.spglobal.com/marketintelligence/en/docu
ments/indiamobilepayments_2020finalreport.pdf
Payment companies blanketing India with QR codes
Image 9. Showing Payment companies blanketing India with
QR codes
Sources: Company disclosures; Reserve Bank of India
Image 7. Showing Mobile payments in comparison to card
payment in terms of transactions.
Source:https://www.spglobal.com/marketintelligence/en/docu Data compiled March 11, 2020 with Source- Company
ments/indiamobilepayments_2020finalreport.pdf disclosures; Reserve Bank of India. Figures for
PhonePe and Paytm were disclosed in December 2019
and February 2020, respectively.
Google Pay’s figure reflects more than 10 million
Google Pay for Business app downloads on Android
phones. Figures for point-of-sale terminals are as of
December 2019.
6 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
UPI dominating mobile payments
Image 10. Showing UPI dominating mobile payments
Sources: Company disclosures; Reserve Bank of India
Data compiled June 1, 2020 with Source- S&P Global
Market Intelligence; Reserve Bank of India; National
Payments Corp. of India. Mobile payments represent Image 12. Showing how to send money internationally with
transactions processed through stored-value wallets Google Pay. [13]
Source:https://www.androidpolice.com/2021/05/21/how-to-se
and Unified Payments Interface, a real-time interbank nd-money-to-india-from-the-us-with-google-pay/
payment network. Google Pay and Walmart-owned
PhonePe leading UPI payments
The world feels like it's gotten smaller in recent
Periods shown are calendar quarters decades thanks to technology, but we're far, far away
from adopting a universal currency. Sending money
across borders — from the US to India, for example —
is still not as seamless as we'd like it to be. Google Pay
wants to change this.
Google recently announced its partnership with Wise
(previously known as TransferWise) and Western
Union, which allows users in the US to send money to
India and Singapore from within the application. Yes,
one less application/website to deal with. It’s important
to note that the recipient will have to be registered on
Google Pay and have their bank account connected via
Image 11. Showing Periods shown are calendar quarters in
UPI in India and PayNow in Singapore. Also,
terms of transactions.
Sources: S&P Global Market Intelligence; Reserve Bank of payments are currently only possible from person to
India; National Payments Corp. of India person — businesses can't send or receive money yet.
If the recipient is already in your contacts list, you can
Data compiled Feb. 17, 2020 with Source- The
enter their name in the search bar. If not, you can
Economic Times; National Payments Corp. of India.
use either their number or email ID to initiate the
UPI payments represent transactions processed through payment.
Unified Payments Interface, a real-time interbank
payment network developed by a bank-led group that
2. Once you tap on the recipient's name, you'll open
enables initiation and collection of payments.
the payment window. You should see a disclaimer at
the top saying you'll need to use a Google Pay partner
VI. GOOGLE PAY “INTERNATIONAL”
to send money internationally.
PAYMENT FACILITY
This section describe the details how to send money
internationally with Google Pay. Google Pay is
providing Transfers via Western Union are free for a
limited time
7 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Image 13. Showing Google Pay international interface-
selecting the contact
Source:https://www.androidpolice.com/2021/05/21/how-to-se Image 15. Showing Google Pay international interface- total
nd-money-to-india-from-the-us-with-google-pay/ amount sending with currency conversion and mode of
receiving the money
Source:https://www.androidpolice.com/2021/05/21/how-to-se
3. In the box at the bottom, enter the amount you nd-money-to-india-from-the-us-with-google-pay/
want to send and tap on pay.
6. If you select Wise, you'll only be able to pay via
4. This will bring up a card asking you to choose your credit or debit card. The amount you send will
between Wise and Western Union, the two partners directly be deposited in the recipient's bank account.
Google Pay supports right now. The best part is you'll There's a $2,000 limit per transaction.
be able to see the actual amount that will reach the
recipient before you proceed.
Image 16. Showing Google Pay international interface- after
selecting the Google Pay partner showing the final amount to
Image 14. Showing Google Pay international interface- Enter be transferred after deducting partner fee.
the amount and select payment partners of Google Pay. Source:https://www.androidpolice.com/2021/05/21/how-to-se
Source:https://www.androidpolice.com/2021/05/21/how-to-se nd-money-to-india-from-the-us-with-google-pay/
nd-money-to-india-from-the-us-with-google-pay/
7. Once the payments are initiated, you'll be able to
5. If you go ahead with Western Union, the recipient track the status of it within the contact's chat itself.
has the option to pick up the cash in person or directly
receive it in their bank account. You can choose to pay
the amount via your debit/credit card, bank account, or
Google Pay balance. There's a $50,000 limit per
transaction.
8 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
Image 17. Showing Google Pay international interface-
confirming the status with your contact.
Source:https://www.androidpolice.com/2021/05/21/how-to-se
nd-money-to-india-from-the-us-with-google-pay/
Western Union is offering unlimited free transfers until
June 16 and if you're a new Wise customer, you can
send your first payment (under $500) for free. So, if
you're looking to send some money to someone in
India or Singapore, now may be a good time to do so.
Google Pay is already working on expanding support
to over 200 countries with Western Union and 80 with
Wise before the end of this year.
VII. GOOGLE PAY “INTERNATIONAL” AND
CUSTOMER VIEW POINT
To understand the view point of the users of digital
payment platform and new feature added by Google
Pay, the author has designed a set of questionnaire and
floated through all possible means like social media,
whatsapp etc. to get the responses.
From last two years people are using digital payment
platform more frequently and avoiding cash
transactions due to COVID situation digital payment
technology companies are motivating people to use
their platform by providing incentives and rewards for
this. To understand the customer’s view and awareness
of Google Pay “international” feature following are the
questions.
9 All rights reserved © www.jmeit.com
Journal of Management Engineering and Information Technology (JMEIT)
Volume 8 Issue 3, June 2021, Online ISSN: 2394 - 8124
Impact Factor: SJIF - 6. 402 (2017) | 6.265 (2016) | 4.564 (2015)
Website: www.jmeit.com | E-mail: editorjmeit@outlook.com | jmeit@outlook.com
smartphones and fast Internet connectivity and they are
very used to handle various apps through smartphones.
According to the data received, 18-25 Years - 42.50%,
26- 32 Years- 25.00%, 33- 40 Years- 17.50%, 40+
Years- 15.00%. Majority of the population is in
between 18 – 25 years followed by 26- 32 years. Other
population is also active on smartphones but in limited
usages. As per the financial transaction through apps
like Google Pay or Paytm etc. young people are using
it actively. For the research purpose the collected data
is evenly distributed in terms of age group.
Q2. Moving towards next question, “Gender”, the
respondent populations is almost evenly distributed.
Male - 40.00%, Female - 60.00%, it is better for the
collection of the respondent’s view point.
Q3. Moving to the next question, it’s about the
“Marital status” of the respondent. The data shows
almost equal, “Married - 47.50%, Unmarried -
52.50%”. This is again a good sign for the research, as
each group has different choices and preferences and
priority.
VIII. ANALYSIS AND INTERPRETATION
In this section the author is going to analyze the data
collected through survey questions and try to
understand the view point of the respondents, what
they are feeling about the digital payment platform and Both married and unmarried persons has their expense
Google Pay’s newly added feature “International” pattern like unmarried person will prefer to pay for
payment. movie tickets, mobile recharges and married person
will prefer to pay for bills and other expenses.
Q1. The first question is about the “Age group” of the
respondents, this is one of the most important Q4. Moving towards the next question, it’s about the
demographic factor in the current research work. As “monthly family income” of the respondents.
mostly young generation is well equipped with
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Not very frequent -20.00%, I also use other digital
payment options too like Paytm, PhonePe etc. -
57.50%. The data shows only 22.5% are loyal
customers who are always using the app to pay for the
transactions. Majority of the populations 57.5% are
using other options also to pay. People are promoting
the app for their own benefit but using it in a limited
amount.
Q 7. The next question is – “According to you how do
you feel about the features/ Interface of Google Pay”.
The data collected shows that, 20 K - 30 K - 10.00%,
31 K - 40 K - 15.00%, 41 K - 50 K - 40.00%, 50K + -
35.00%. The majority of the population is having a
good family income, this gives the researcher the
glimpse that people have the room to spend.
Q5. After basic demographic questions, it’s time to
move ahead to get the details about the research topic
“Google pay”. This question ask the respondents about
the sources of awareness about the app, “Source(s)
through which you came to know about Google Pay”.
The view about the interface and ease of use of
“Google Pay” - Very easy to use- 75.00%, I like
Incentives and rewards- 65.00%, Missing online
market like Paytm or PhonePe- 55.00%, I like
International payment feature- 40.00%. Majority of the
population find the app’s interface easy to use and the
rewards and incentives associated to it. 55% of the
population missing the features of online market like in
other apps [Paytm and PhonePe] where people can
purchase online goods through the apps. People can
pay for the transaction through the Google Pay but
cannot purchase from it. This brings the opportunity
for Google to add the “market” feature in the app in
The received data shows, Friends- 80.00%, Relatives- near future. Respondents are also liking the
25.00%, Advertisement on print media or T.V. - “International” payment feature in the app, 40% of the
22.50%, Social media- 50.00%. The major source of respondent’s population are in favor of it. It’s a good
information is “Friends and Relatives”. The motivation sign for the new feature added in the app, it will boost
behind this is the cash back and reward points scheme the value and in turn it may increase the usage of the
from Google, people are getting cash back to promote app and there could be more market share of Google
the Google Pay app. The point to ponder here is that Pay in the digital payment market.
both are winners the person who is offering and the
other person who is accepting the offer by using a Q8. The next question - “Google Pay has added
unique code provided by the Google Pay app. Both are “International Payment” feature, adding this feature do
getting cash backs, more promotion and there will be you think, this will improve the position of Google Pay
more cash back for the person. in the market against its rival(s) in digital payment
platforms in India like PhonePe, Paytm and PayPal,
Q6. The next question is – “Do you use Google Pay to Mobikwik etc.”
make payments to the transactions”. The usage of the
Google Pay application by the respondents, the data
collected shows- Always - Google Pay- 22.50%,
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The responses are - Yes- 67.50%, No- 2.50%, I have
No Information about the fact- 30.00%. This indicates
that people have awareness about the facts of the new
feature of Google Pay app, but there are respondents
The responses collected says, Yes - 77.50%, No – Nil, who are not aware about it, this can slow down the
Can’t say- 22.50%. It is very clear that the new feature usage of the Google Pay app. There should be
of “International” payment can bring miracle for awareness program telling about the feature of the new
Google Pay app in near future. Majority of the feature, this could strengthen the base of the app in the
respondent’s population are in favor of the new feature. market.
Other players in the digital payment market are not
Q 11. The next question – is about the facts and
having this feature and Google can have the early bird
features of the app – According to Google Pay
advantage in this situation.
International - “Google pay collectively with Western
Q9. The next question is about – “According to you do Union and Wise, through them the user can send
you think that opening to the international market there money to their contacts in 280 countries of the world”
could be more chances of “online fraud” cases”. – this is about the reach of the Google Pay app in the
international market, Google Pay in joining hands with
two other players in the market making possible to
send the money internationally. Majority of the
respondents are aware like, Yes-65.00%, No- 2.50%, I
have No information about it- 32.50%.
The data collected implies that “YES” there are more
possibility of the online fraud cases, as many people
are using the various apps and they are not well
But there are still left behind to know the fact, more
educated about the minor details or loops and holes of
knowledge of the facts and features about the app can
the applications and criminals are taking benefit of the
improve the ranking of the app in the market. Other
same. Yes -62.50%, No - 2.50%, May be - 20.00%,
apps are catering the local market and more of daily
Awareness is the only prevention- 15.00%. People are
transactions this is beyond the local market.
also supporting the option of “awareness” when people
are well informed about the usage of the app there Q 12. . The next question – again it is about the facts
could be less chances of the fraud and people can and features of the app - In Google pay international
transact more securely in the digital payment world. transaction “Wise says that they’ll offer the first
transaction up to a value of $500 without any charge.”
Q10. The next question – is about the facts and features
of the app - Are you aware from the fact that according
to Google Pay International - “There is no minimum
amount stipulated for these transactions, though the
maximum transaction value may depend on various
factors including the payment method.”
The respondents saying - Yes- 60.00%, No- 2.50%, I
have no Information about it- 37.50%. There is same
situation in this question too as previous question
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asking facts and information about the “international”
feature.
Q13. The next question – continuing about the facts
and features of the app - In Google pay international
transaction “charge will be taken from the sender, and
not the receiver. Google will not levy any charge to
either the sender or the receiver, for any international
transaction.” –
The collected data reflects various reasons to use the
app.
Mobile Recharge - Pre paid 70.00%
Online Purchase from Amazon, Flipkart etc. 62.50%
Bank Transfer 60.00%
Payment of Electricity Bill 52.50%
Mobile bill - Post paid 52.50%
Yes- 65.00%, No- 2.50%, I have No information about DTH Recharge 52.50%
it- 32.50%. Respondents are having same state of mind Paying for Broadband / landline 45.00%
in responding the questions about the facts and Movie tickets booking 45.00%
information about the new feature of the app. There is Railways Ticket Booking 37.50%
acute need to spread the right information about the Booking / payment of cooking Gas 37.50%
newly added feature in the app, this could help the Purchasing Groceries 35.00%
Tuition Fee payment 32.50%
Google Pay to get more positive response from the
Settlement of Restaurants Bill 30.00%
users. Flight tickets booking 30.00%
Paying for Metro Pass / Tickets 27.50%
Q14. The next questions is about the recommending Managing and recharging of Fast Tags 27.50%
the app – “According to you do you recommend Playing online games and fund transactions
25.00%
Google pay to others?” through app
Payment of Insurance Premium 25.00%
Payment of Loans EMI 22.50%
Trading in Stocks 15.00%
Settlement of Hotel Bill 15.00%
Rent Payment 15.00%
From the collected data from the respondents about the
reasons of using digital payment platform top three
reasons are Mobile recharge, Online Purchasing and
Bank Transfers. Other reasons are paying electricity
bills, Mobile postpaid bill, DTH recharge, landline
bills, booking and payment of cooking gas, ticket
booking etc.
From the percentage it is clear that reasons are ranked
according to the age, marital status and income as
pre-paid mobile are usually kept by youngsters and
online purchasing are most likely done by them other
The respondents are in favor of the same, Yes - just to people of different age group also do but they are more
get incentives and rewards- 95.00%, No- 5.00%. The frequent. Bank transfers and utility payment are
magic of rewards and Incentives is working great. generally done by married and middle age people who
Q15. The next question – is about reason to use the app are having family responsibility. These responses are
justifying the top three to four questions of researcher’s
– “Kindly select the reason(s) to use (any) digital
payment method”. questionnaire about age, income and marital status etc.
Q 16. Moving to the next question- What is your
preferred digital payment system - digital wallet / UPI
based payment system.
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BHIM RBL Pay 10.00%
BHIM BOI UPI 7.50%
RBL Mobank 2.0 7.50%
BHIM DCB Bank UPI 5.00%
BHIM KVB Pay 5.00%
BHIM SIB UPI 5.00%
Fino Bpay 5.00%
BHIM LOTZA UPI Payments APP 2.50%
The responses collected as - Doesn’t affect me any one BHIM PSB 2.50%
will do- 32.50%, Depends which gives me more cash CSB UPI 2.50%
back or rewards- 45.00%, Digital wallet- 5.00%, UPI BHIM DLB 0.00%
based payment system-17.50%. BHIM KBL UPI 0.00%
BHIM LVB UPAAY 0.00%
It is very clear that people are looking more benefits BHIM Maha UPI 0.00%
while they are paying digitally, they have no certain
fixed preferences to pay but they are choosing those The collected data from the respondents clearly implies
mode of payment which gives more benefits in terms that people are well aware and using [both] the cases,
of reward points and cash back. The digital wallet is Paytm with 82.50%. in this question the respondents
losing its charm, it’s may be due to the banking are allowed to select the application whether they are
charges taken by the digital payment application while using or they are aware of the same. Airtel Pay is on
transferring the money from wallet to the bank account the second rank with 70% awareness of usage
like in the case of Paytm. UPI based transactions are percentage. From the previous question people are
picking up, Google Pay and PhonePe are major using UPI based app or which gives more benefit for
players. making transactions. Mostly all banks have their own
Q 17. This questions is about the awareness of the UPI based pay app, and everyone has account in their
digital payment apps - Kindly select the UPI apps that respective banks so therefore the awareness is
you know or used for digital transactions. confirmed from the ranking and percentage. Altogether
this question give the indication that people are well
aware about the banking apps and other apps available
in the market.
Q18. This is again same question as previous but it’s
about third party app - Kindly select the third party
apps that you know or used for digital transactions –
Paytm App 82.50%
Airtel Pay 70.00%
BHIM Axis Pay UPI App and Freecharge 32.50%
BHIM PNB 32.50%
Tranzapp - UPI 30.00%
BHIM Bandhan UPI 27.50%
BHIM Baroda PAY 25.00%
BHIM SBI Pay 22.50% PhonePe 92.50%
BHIM IOB UPI 20.00% Amazon Pay 85.00%
IDFC Bank BHIM UPI App 20.00% Google Pay 82.50%
BHIM Canara - eMPower 17.50% MobiKwik 62.50%
HDFC Bank Mobilebanking 17.50% WhatsApp Pay 55.00%
iMobile 17.50% Samsung Pay 32.50%
BHIM Indian Bank UPI 15.00% TrueCaller Pay 32.50%
BHIM Indus Pay 15.00% My FASTag 27.50%
BHIM UCO UPI 15.00% Bajaj Finserv Direct Ltd 20.00%
BHIM YES Pay 15.00% Angel Broking 20.00%
PayZapp 15.00% YuvaPay 20.00%
BHIM Cent UPI 12.50% JustDial 15.00%
BHIM KOTAK Pay 12.50% MudraPay 12.50%
BHIM Union Bank UPI App 12.50% Ultracash 12.50%
City Union Bank UPI 12.50% MI Pay 10.00%
Digibank 12.50% Realme PaySa 10.00%
HSBC Simple Pay 12.50% Maxwholesale 10.00%
BHIM JK Bank UPI 10.00% Goibibo 7.50%
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Make My Trip 5.00% study was about Google pay and its new feature
CoinTab 2.50% “international” payment feature. Mostly people are
khaalijeb 2.50% aware of its international feature and they are liking it
Omegaon 2.50%
too, but there are still some population left who are
Cred 0.00%
Looking at the collected data, PhonePe, Amazon Pay unknown about the feature they need to be educated for
and Google Pay are top three in ranks and awareness. better response. Digital wallet is losing its place from
Whatsapp pay is also well known to the people due to the digital payment system and UPI based payment
its vast reach in the messaging app. People are using system is picking up. The ranking and market share of
and having the knowledge of various third party apps Paytm is also gone down and PhonePe and Google Pay
available in the market. Google Pay is in the top three are having more market share and due to its
it’s a good sign for the Google Pay app. International feature the future of Google Pay could be
more bright.
Q19. Moving towards to the next question, it about the
future of the digital payment system - Digital payment X. REFERENCES
system is easy and convenient to use, do you think that 1.https://inc42.com/buzz/digital-payments-grows-at-55-over-p
digital payment system will continue to boom after the ast-five-years-reveals-rbi-data/
covid-19 pandemic situation is over. 2.https://www.thehindubusinessline.com/news/digital-paymen
ts-in-india-to-grow-to-717-of-all-payment-transactions-by-20
25-report/article34204827.ece
3.https://www.statista.com/statistics/1105962/india-preferred-
e-payment-services/
4. https://www.npci.org.in/what-we-do/upi/product-statistics
5.https://www.financialexpress.com/economy/rbi-will-now-tel
l-you-how-india-is-faring-in-digital-payments-penetration-wit
h-this-new-measuring-stick/2163123/
6.https://www.pinelabs.com/blog/top-factors-driving-the-gro
wth-of-digital-payments-in-india
7.https://www.pwc.in/assets/pdfs/consulting/financial-services
/fintech/payments-transformation/the-indian-payments-handb
ook-2020-2025.pdf
8.https://www.business-standard.com/article/companies/faceb
As the digital payment platform was available in pre- ook-amazon-google-vie-for-piece-of-india-s-digital-payment-
COVID situation too, but the usage was very less, markets-121030400144_1.html
9. https://www.upichalega.com/upi-app
people prefer cash transactions although mobile 10.https://economictimes.indiatimes.com//tech/technology/np
recharges and some other utility payments are being ci-enforces-new-market-share-rules-on-upi-for-google-pay-ph
done but not like as present situation. The current onepe-paytm-others/articleshow/81701508.cms?utm_source=
situation in which using of digital platform is increased contentofinterest&utm_medium=text&utm_campaign=cppst
11.https://economictimes.indiatimes.com/news/economy/indic
is due to various reasons and COVID is one of them,
ators/digital-payments-market-in-india-likely-to-grow-3-folds
this question is asking from the respondents what after -to-rs-7092-trillion-by-2025-report/articleshow/77705507.cms
COVID is gone. The respondents are in favor of digital ?utm_source=contentofinterest&utm_medium=text&utm_ca
payment platform, Yes- 72.50%, No-2.50%, May be- mpaign=cppst
25.00%. It is a fast and easy method to pay for the 12.https://www.spglobal.com/marketintelligence/en/document
s/indiamobilepayments_2020finalreport.pdf
goods purchased or paying the utility bills and people 13.https://www.androidpolice.com/2021/05/21/how-to-send-
are getting used to it and having “international” money-to-india-from-the-us-with-google-pay/
payment facility in term of Google Pay with rewards
and cash bank incentives it is going to continue in near
future.
IX. CONCLUSION
To conclude the study on the basis of collected
responses from the respondents. There could be more
aspects of the study but the author is limiting the
conclusion on the basis of the result of the survey and
other findings.
The results gives the glimpse that people are aware and
using digital platform for making payments for utilities
and purchasing online goods. People are not preferring
one single app for all transactions they are selecting the
app which is giving more benefit while making
payment for the transaction, they are also ready to
promote the app for seeking cash back etc. the current
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