Consumer Research – Assessing Online Payment Modes for Kotak Mahindra Bank

Consumer Research - Assessing Online Payment Modes for Kotak Mahindra Bank - End to End Research

Research Context

Kotak Mahindra is one of India’s leading banking and financial services groups, offering a wide range of financial services that encompass every sphere of life

The client regularly works towards enhancing customer’s experience  throughout their journey with the bank. The client currently wished to understand customers concerns with respect to the various payment modes that are been used so that corrective action can be taken

MarketGenics was approached to conduct a study amongst Kotak Mahindra Bank’s customers in this regard. 

Key Objective

To understand customer’s  experience with various payment modes for online shopping and assess their view points towards USING or NOT USING payment gateway as preferred mode of payment

Target Audience

Customers of Kotak Mahindra Bank-

A database of two kind of customers of were provided

1.Heavy users of Payment Gateway

2.Heavy users of Payment Gateway in addition to UPI,DC and CC


Methodology: Telephonic interviews

A total of 30 (15 qualitative calls from both the databases) were done to understand their payment habits and preferences

All the calls were done by MarketGenics researchers

Successful Completion in 7 days

The customers names and numbers were provided to the research team. Our team first called each of them to fix up a convenient time for the interview. 

As per the scheduled timing, our expert researchers gave a call to each of these customers and asked questions on the basis of a questionnaire prepared by the team

All calls were recorded for an accurate analysis of the responses

The research team’s main objective was to find out how the customers behave for online shopping

As per the research analysis, the team came across three profiles of customers as follows:

Only Kotak PG users – LOYALISTS

  • These are the customers who use only PG as payment mode for most of their online transactions. In case of small transactions cash is used
  • Not heavy online shopper but occasional



  • These are the people who use almost all the modes of payment in KMB domain depending on the amount to be paid
  • Does heavy online shopping
  • Their primary and only Bank is KMB


Kotak + other bank user-Flitters

  • These consumers were mapped as solus PG users however post interaction we gauged è They have accounts in multiple banks and KMB is not their Primary bank.
  • While they have KMB account, they use Credit cards, UPI etc. of other banks due to offers and reward points on credit card
  • Heavy online shopper


A complete analysis as per the calls was made and the findings were presented to the client as per the scheduled date of delivery. 

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