Digipay: A Payment Gateway App for Large Scale Transactions

The report discusses the business plan of Digipay, a payment gateway app for large scale transactions. It includes a PEST analysis of the mobile payment industry, market and industry analysis, competitor analysis, marketing and pricing strategies, SWOT analysis, and financial requirements. The app will be highly secured and will make use of two-factor authentication to enhance the security of the information fed within the app.

ENTERPRISE AND BUSINESS
DEVELOPMENT
ASSESSMENT 2

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Business Detail............................................................................................................................3
Macro environment overview using PEST analysis of the Mobile payment industry................3
Market and industry analysis.......................................................................................................4
Competitor analysis.....................................................................................................................5
Marketing and pricing strategies.................................................................................................7
Operation plan.............................................................................................................................7
SWOT analysis of Digipay..........................................................................................................8
Financial requirements.................................................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Business plan refers to a plan that involves the details with respect to introducing a
particular idea into the market (Teoli, Sanvictores, and An, 2019). The present report is based on
the business plan introducing a product into the market. The name of the business model is
Digipay. It is a payment gateway app which provides the consumers the option to make
transaction that involves huge amount.
MAIN BODY
Business Detail
The business idea is to launch a payment getaway app in the market whose focus will be
to provide the facility to big organization to make payment online involving huge amount. The
target audience of the app will specifically include large scale companies who need to make big
transactions on a regular basis. The name of the payment getaway app will be Digipay. It will
implement the use of near field communication in order to promote the transactions by using this
app digitally. The app will be highly secured and will make use of two factor authentication in
order to enhance the security of the information fed within the app. The app will be included face
recognitions, finger print and numerical passwords in order to protect the information of the user.
It has been observed that the existing payment apps in the market do not allow the customers to
make transactions which involves huge amounts more than once in a day (Vlados, 2019).
Therefore, this app will allow the users to make payments which involves huge amoints and the
major focus of this app will be to ease the process for the large-scale companies and allow them
to transact online.
Macro environment overview using PEST analysis of the Mobile payment industry
PEST analysis is a framework used by organizations in order to determine the macro
environmental factors that affects the functioning of an organization. The PEST analysis with
respect to mobile payment industry is as follows:
Political factors
One of the major political factor that might affect the business opportunity of introducing
Digipay in the market is the Brexit deal. The United Kingdom used to source the labour for the
purpose of carrying out business operations from Europe as the United Kingdom could easily
source labour at cheap rates from the Europe. However, Brexit deal has led to certain impositions
due to which the Digipay will find it hard to source the labour from Europe. Sourcing the labour

from nations other than could increase the cost of launching the payment app and reduce the
profitability of the company.
Economic factors
There are certain economic factors including the inflation rate, interest rate, consumer
spending and unemployment which can affect the introduction of payment app within the market
(Ekaterina, 2021). If the inflation rate will be high, then the consumer spending will decrease
which will affect the number of transaction that the users of the will make. Similarly, if the
inflation rate will be high, the consumer spending will decrease resulting in low profitability of
the companies. This in turn will affect the profitability of the Digipay as the number of potential
payments and transaction will be decreased.
Social factors
The success of the app within the market will be based on certain social factors such as
the nature of the audience within the market. If the organizations and business within United
Kingdom are educated and understands the concept of making payments online on a routine
basis instead of transacting between organization using cash and cheques which take time in
clearing of the payments. The app will be a huge success as it will allow the big organization to
make instantly through just a click on the phone. It has been determined that most of the business
organizations in United Kingdom are educated and understands the benefits of transacting online
and saving time, therefore, there are chances that the organization will be successful in the
markets of UK.
Technological
In today's times, the use of technology within a business organization has become
essential for the purpose of getting successful in the market. The business organization in United
Kingdom makes use of technology within their business process and automates a number of
processes for the purpose enhancing the profitability (Phan, 2021). Therefore, there are high
chances that the company will make use of Digipay within their business organizations.
Market and industry analysis
To run any business, it is important to understand the market and industry analysis from
where the company can be able to grow at successful level and can increase their sales in the
particular market. An industry analysis is a kind of marketing process where it provides the
information and data about the market of the business products and services which can enable

the management to understand the needs and requirements of the consumers which can be
fulfilled by the innovative product (Torres, Hernández-Álvarez, Torres Hernández, and Yoo,
2019). However, this market analysis and industry analysis is significant and should be
considered by the organisation to create an awareness among the particular product and service
the organisation has established in expectation of gaining the profit. For implementation of the
analysis the company has to keep their focus on making or creating a well-structured plan which
can be used for the commercial feasibility of a company and can provide the profitable outcome
which can enable the company to grow and increase the sales of the product and service at higher
level.
Thus, as per the above mentioned report, the product digipay has been going to establish
which will fulfil the needs and requirements of the public and helps them in the transaction of the
amount. Digipay is the application in the mobile and androids phone also in IOS where the
people can use it for the larger amount of transactions as in today era similar service application
does not allow the people to do big transaction and have a limit of the particular amount which
creates a problem for the people sometime. However, the need of this service is wider and larger
where the target market of this product and service is young and middle aged people or can be
said as business person, retailers and shopkeepers who required this kind of application for the
usage as they can be able to transact the amount in definite manner (Shah, Isah and Zulkernine,
2019).
The market of digipay is quite larger and can be established in each and every country
where the men, women, and older people also can use this application as per their requirements.
Accordingly, this product and service will be grow at definite position as in today market area
there are lot of people who gets difficulties in transaction of the amount through online way
especially entrepreneurs where it will be definitely take a higher growth in the market. In
addition, the digipay will catch the appropriate growth and development where there are many
and different application has been already exist in the market for the help of the consumers
where googlepay is the tough competition for the digipay and can dominat over the application
where the organisation has to keep their focus on making the product quite unique so that the
product digi pay can easily accelerate its growth and development.
Competitor analysis
The strengths and weaknesses of the competitors of the Digipay has been mentioned below:

Google pay
Strengths
 Google pay is easy to use and no need to carry cash for the normal customers. But
Digipay will be specifically used by companies, enterprises and organizations in order to
carry huge transactions.
 The google pay is Highly secured application while Digipay is taking steps in order to
increase security and authenticity (Kalaitzi, and et.al 2021).
 Attractive rewards in order to attract customers. However, the major focus of the Digipay
is towards B2B customers.
Weaknesses
 Though the Google pay is secured, still the risk of cyber-attack may arise. Digipay is
taking steps in order reduce the risk of cyber-attacks.
Interpretation of the primary research
1.According to you, what kind of consumers use the Google pay for the purpose of making
payments?
Options Response
Individual consumers 1
Retailers 1
Business organization 1
All of them 3
Interpretation
According to the responses received, it has been determined that the all types of
consumers make use of Google pay for the purpose of carrying out transactions online. 50% of
the respondants voted in the favour of all of them.
2.According to you, are the customers satisfied by the services provided by your company?
Options Response
Highly satisfied 4
Satisfied 1

Neutral 1
Dissatisfied 0
Interpretation
On the basis of the responses received by the respondents, it has been observed that most
of the users of google pay are highly satisfied with the services offered by the company.
Marketing and pricing strategies
For the purpose of promoting the Digipay within the United Kingdom, the Digipay will
make use of traditional as well as the modern tools of marketing. Traditional channels of
marketing include advertising the product by way of traditional tool such as newspapers, posters,
television, podcasts, radios and billboards. This will help the Digipay in attracting those
customers that are not active on the digital media. Moreover, the use of social media marketing
will help the company in advertising and promoting the Digipay through Facebook, Instagram,
Twitter, YouTube and various other channels (Quix, and van der Kind, 2019). This will help the
company in attracting the target market towards the brand and help the Digipay in increasing
their customer base and enhancing their profitability.
Since, the app will be free for the consumers initially, the Digipay will make use certain
strategies in order to earn profit. Digipay will initially provide the payment services free to its
customers, but after a while, when there will an increase in the customer base of the company,
the Digipay will charge for an amount for the purpose of transacting over a particular amount in
order to earn profit. The digipay will also make use of in- app advertisements for the purpose
increasing the profits.
Operation plan
Product name: Digipay
Service provided: Digital payment getaway; a B2B model which will specifically ease the
transactions between large scale companies that requires to carry out transactions involving huge
amounts.
Location: Manchester, UK as it is considered as the technology hub. Therefore, it will be easier
for Digipay to find the required resources and make use of them (Abba, 2021).
Resources: Skilled workforce involving developers, marketing and promotions team, operations
team, finances.

Developers: Digiryte developers in Manchester, United Kingdom
SWOT analysis of Digipay
Strengths
 B2B business model
 Focus on providing services to large scale organization, or customers who carry out
transactions of huge amounts.
 Helps in carrying out transactions of huge amounts more at least 10 times in a single day.
Weaknesses
 Ignores the interest of other customers which includes retailers, individual consumers,
wholesalers.
 Cannot be used for small transactions.
Opportunities
 Capture the small organizations and individual consumers by providing them with facility
to carry out small transactions too (Werle, and Laumer, 2022).
 Introducing rewards on making payments in order to attract new customers towards the
brand.
Threat
 Potential competitors such as google pay might come up with similar kind of services
which could affect the profitability of the Digipay.
Financial requirements
The start-up costs of the business $4000
Estimated cost of sales & Your expected
selling price
2% of the particular amount
Fixed & Running Costs of the Business $2500
CONCLUSION
In the above report, the chosen business idea is to provide the customers with the facility
to make huge business transaction for at least 10 times in a single day. The name of the business
model is Digipay and the target audience will include organizations that makes huge number of

transactions on a regular basis. For the purpose of initiating the business plan, the location that
has been chosen is Manchester, UK. The report covers a SWOT analysis of the Digipay as well
as the strengths and weaknesses of its competitors within the market. It discusses about the
financial requirements that will be required in order to initiate the business.
REFERENCES
Books and journals
Abba, M.T., 2021. Analysing competitor and creating a competitive advantage. Interdisciplinary
Journal of Applied and Basics Subjects. 1(8). pp.31-42.

Ekaterina, Z., 2021. Market research and market entry recommendations in UK, Poland, and
Germany for a FinTech company.
Kalaitzi, D., and et.al 2021. Megatrends and trends shaping supply chain innovation. In Next
generation supply chains (pp. 3-34). Springer, Cham.
Phan, S., 2021. The effect of pestle factors on development of e-commerce. International Journal
of Data and Network Science. 5(1). pp.37-42.
Quix, F.W.J. and van der Kind, R.P., 2019. Competitor analysis. In Retail Marketing (pp. 245-
284). Routledge.
Shah, D., Isah, H. and Zulkernine, F., 2019. Stock market analysis: A review and taxonomy of
prediction techniques. International Journal of Financial Studies. 7(2),p.26.
Teoli, D., Sanvictores, T. and An, J., 2019. SWOT analysis.
Torres P, E.P., Hernández-Álvarez, M., Torres Hernández, E.A. and Yoo, S.G., 2019, February.
Stock Market Data Prediction Using Machine Learning Techniques. In International
Conference on Information Technology & Systems. (pp. 539-547). Springer, Cham.
Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and
Management.
Werle, M. and Laumer, S., 2022. Competitor identification: A review of use cases, data sources,
and algorithms. International Journal of Information Management. 65. p.102507.

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