What is Instamojo
Instamojo is an Indian-based payment gateway and online commerce platform that enables individuals and businesses to collect payments online. It provides a simple and easy-to-use interface for buying, selling, and managing products and services on the internet.
Instamojo allows sellers to create a digital store and accept payments through various methods such as credit/debit cards, net banking, and popular digital wallets like Paytm, PhonePe, and UPI (Unified Payments Interface). It supports both one-time payments and recurring subscriptions.
The platform offers several features and tools to facilitate online transactions. Some notable features of Instamojo include:
- Payment Links: Users can create unique payment links and share them through various channels like social media, email, or messaging apps. Customers can click on the link and make payments instantly.
- Online Store: Instamojo provides an online storefront where sellers can showcase their products or services, set prices, and manage inventory. Customers can browse the store, select items, and make payments.
- Payment APIs: Developers can integrate Instamojo’s payment APIs into their websites or applications, allowing them to collect payments seamlessly.
- Payment Analytics: The platform offers analytics and insights to track sales, revenue, and customer behavior. Sellers can monitor their business performance and make data-driven decisions.
- Digital Goods: Instamojo supports the sale of digital goods such as e-books, software, music, and videos. Sellers can deliver the digital content to customers automatically upon successful payment.
Instamojo focuses on providing a user-friendly experience, particularly targeting small businesses, freelancers, and entrepreneurs who want to start selling online without the need for complex setups or extensive technical knowledge.
The history of Instamojo
Instamojo was founded in 2012 by Sampad Swain, Akash Gehani, and Harshad Sharma. The company is headquartered in Bengaluru, India. Initially, the founders envisioned Instamojo as a platform to help small and medium-sized businesses in India to sell their products and services online without the need for complex infrastructure or technical expertise.
The idea behind Instamojo originated when the founders noticed the challenges faced by small businesses in accepting online payments. Many traditional payment gateways had stringent requirements and high setup costs, making it difficult for small businesses to enter the online marketplace. Instamojo aimed to bridge this gap and provide a user-friendly solution.
The company started by offering a simple and hassle-free payment collection system, allowing individuals and businesses to create payment links and receive payments via various methods. This approach resonated with many small businesses, freelancers, and entrepreneurs who were looking for an easy way to monetize their products or services.
As Instamojo gained popularity, it expanded its offerings and introduced additional features. In 2013, the company launched its online store feature, enabling sellers to create their digital storefronts and showcase their products or services. This development further enhanced the platform’s capabilities and allowed sellers to manage their inventory and track sales.
Over the years, Instamojo has continued to evolve and introduce new features to cater to the needs of its users. It has integrated with popular Indian payment methods like net banking, credit/debit cards, and digital wallets to provide a seamless payment experience.
In 2016, Instamojo expanded its services beyond payment processing and introduced various business tools and services. These include logistics and shipping integration, SMS marketing, discount and coupon management, and customer relationship management (CRM) features. These additions aimed to provide a comprehensive ecosystem for small businesses to manage and grow their online operations.
Instamojo has also focused on building partnerships and collaborations to enhance its offerings. It has partnered with other companies and platforms to provide additional services such as accounting software integration, lending solutions, and website building tools.
How Instamojo works
Instamojo works as a payment gateway and online commerce platform that allows individuals and businesses to collect payments and sell products or services online. Here’s a step-by-step overview of how Instamojo typically works:
- Sign up: To get started with Instamojo, you need to create an account on their platform. You can sign up by providing your basic details and verifying your email address.
- Set up your account: Once you’ve signed up, you’ll need to complete your profile and provide additional information, such as your business details, bank account information, and relevant documents for verification purposes. This step ensures that you can receive payments and withdraw funds to your bank account.
- Create a payment link or online store: After setting up your account, you can start creating payment links or set up your online store. A payment link is a unique URL that you can generate for a specific product or service. You can customize the payment link by adding product details, pricing, and other relevant information. Alternatively, you can create a complete online store using Instamojo’s store feature, where you can showcase multiple products or services.
- Share the payment link or promote your store: Once you have your payment link or online store ready, you can share it with your customers through various channels. This can include social media platforms, email, messaging apps, or your website. Customers can click on the link or visit your store to make a purchase.
- Payment collection: When customers click on your payment link or select a product from your online store, they will be directed to a payment page hosted by Instamojo. Here, customers can choose their preferred payment method, such as credit/debit cards, net banking, or digital wallets. Instamojo supports various popular payment options in India.
- Transaction processing: Once a customer makes a payment, Instamojo securely processes the transaction and verifies the payment details. They provide real-time payment confirmation, allowing you and the customer to receive immediate notification of the successful transaction.
- Order fulfillment: After the payment is processed, you can proceed with delivering the product or service to the customer. For digital goods, Instamojo can automatically deliver the purchased content to the customer. For physical goods, you would need to arrange shipping or delivery separately.
- Withdraw funds: Once you have received payments, you can withdraw the funds to your linked bank account. Instamojo typically provides options for manual or automatic withdrawals, depending on your preferences.
- Analytics and management: Instamojo offers various tools and features to help you track your sales, revenue, and customer data. You can access analytics and insights to understand your business performance and make informed decisions. Additionally, you can manage your inventory, update product details, and customize settings through the Instamojo dashboard.
It’s important to note that the exact process and features may vary depending on the specific requirements and updates by Instamojo. It is advisable to refer to the official Instamojo website, documentation, or contact their customer support for the most accurate and up-to-date information.
Can Instamojo be trusted
Instamojo is a well-established payment gateway and online commerce platform that has been operating since 2012. It has served a large number of businesses and individuals in India and has gained a significant user base over the years. The platform has received positive reviews and feedback from many users who have found value in its services.
Instamojo takes security and data privacy seriously. It implements industry-standard security measures to protect user information and payment transactions. The platform uses encryption and secure protocols to ensure the confidentiality and integrity of data.
However, as with any online service, there is always some level of risk involved. It’s important to exercise caution and follow best practices when using any payment gateway or online platform. Here are a few points to consider:
- Research and due diligence: Before using Instamojo or any other service, it’s advisable to do your research. Read reviews, check the company’s reputation, and understand the features and limitations of the platform. This will help you make an informed decision about whether it meets your specific requirements.
- Terms and conditions: Familiarize yourself with the terms and conditions of Instamojo. Understand the fees, withdrawal policies, dispute resolution mechanisms, and any other relevant terms that may apply to your use of the platform.
- Customer support: Instamojo provides customer support to address any queries or issues users may have. If you have concerns or encounter any problems, reach out to their support team for assistance.
- User feedback and testimonials: Consider reading user feedback and testimonials about Instamojo to get an idea of other users’ experiences. This can help you gauge the general sentiment and reliability of the platform.
Does Instamojo charge a fee
Yes, Instamojo charges a fee for the services it provides. The specific fee structure may vary depending on factors such as the type of transaction, the payment method used, and the pricing plan chosen by the user. It’s important to review the current fee structure on the official Instamojo website or contact their customer support for the most up-to-date and accurate information.
Typically, Instamojo charges a transaction fee on each successful payment received. This fee is deducted from the transaction amount before the funds are transferred to the user’s linked bank account. The transaction fee can vary based on the transaction value and the payment method used.
In addition to the transaction fee, Instamojo may also offer premium features or optional services that come with their respective charges. These could include advanced analytics, custom branding, priority customer support, or additional integrations. The availability and cost of these premium features may depend on the specific pricing plans offered by Instamojo.
It’s important to carefully review the fee structure and understand the costs associated with using Instamojo to determine if it aligns with your budget and requirements.