Technologies evolved so does the paradigms to run and earn ideas; many of us left our day job and started freelancing or other mini startups, the reason is simple -convenience. Thanks to the growing platforms and payment gateways like Instamojo, for hosting our ideas and turning them into a sound business.
Not many customers have credit card or PayPal, especially in a country like India, where PayPal payment processes are limited, e-commerce has still been a dream for small-scale sellers. But not now, Instamojo has already established and ready to process your payments at your convenience.
No worries, if Instamojo sounds strange to you, this Instamojo review will further help your new startup or support your idea of starting a new venture. So Indians! Let’s welcome a new payment gateway in a world of limited portals.
What is Instamojo?
Instamojo is a Bangalore-based startup that comes up with a payment solution in India for Small Businesses and Startups who want to sell their products online. With Instamojo, anyone can create a payment link and easily share it on their website, social media, email, or any other platform.
Instamojo was founded back in 2012 by 4 entrepreneurs -Aditya Sengupta, Harshad Sharma, Akash Gehani, and Sampad Swain. They started charging their customers 1.9 % on the transaction as their fees; more the transaction, lesser the fee slab. The payout takes place once in a week on every Friday, and all the customers receive their payment via their bank account through NEFT.
They make money, once a customer makes money; you have to pay a small transaction fee only upon any sale or receive money with no upfront fees, no cost to create a payment link or no any other hidden charges.
Also, Instamojo offers cool analytics; click buttons to find the functions and other options, using the self-explanatory layout. They support Credit Cards, Debit cards, and Net-banking as their mode of payment.
You can also create a page to share on your website or simply sell products by integrating your website to it. They allow you to customize CTA buttons on your website.
To get connected with Instamojo you should associate with an Indian Bank, why? Here you go!
- Sell products and collect payments.
- Their service fee is 1.9% on every sale (Which is super cheap)
- A dedicated App Store to use their paid and free apps for your online journey.
- A dedicated Affiliate program.
- SEO Optimization for all your products
- Get an Analytics Dashboard to understand your strengths and weaknesses
- Create your online web store in minutes
Association with Banks –
To avail of their service, you need an Indian Bank account. Currently, Instamojo supporting
- Kotak Mahindra Bank,
- HSBC Bank,
- Standard Chartered Bank,
- Axis Bank, and
- ICICI Bank.
Instamojo Analytics – Track Your Leads
Instamojo allows you to track demographics and complimentary details about your customers to help you focus on the regions and customers that bring more business.
This feature is for Woocommerce/Wordpress, CS-Cart, Prestashop, Magento, OpenCart, and Drupal. You can use Instamojo API for language like Ruby, PHP, and Python. Their API boasts:
- Create a link from Instagram photo hashtagged #sell
- Add customer data to a Google Spreadsheet.
- Make a mobile app.
- A bulk uploader desktop app.
- A push notification for sales.
Instamojo Post-purchase Redirection – Say Thanks To Your Customers
Instamojo allows you to redirect users to a desired post-purchase page. This helps you to funnel the customer two ways and perform additional requirements like asking them to check out a related product or sending them to your blog.
Respectfully you redirect the user to your landing page to thank him/her to support you through their purchase.
How Much Instamojo Costs?
- No Set up Cost
- No AMC
- Transaction Fee – 1.9% + INR 3.00
If you work in digital products like software, then the transaction fee would be 5% where Instamojo host your products.
Let’s Get Started With Instamojo Payment Gateway!
- Create your FREE Instamojo Account.
- Fill in all the required details.
- Follow these simple steps to setup your account.
- Step 1: Click on Submit your KYC.
- Step 2: Enter your PAN Card number and other details.
Before moving to the next step, keep these documents in your reach;
- Passbook Front Page
- Cheque Book Front Page
- Latest Bank Acc Statement
- Step 3: Upload your PAN card and other details in the given portal. Or else take pictures and access the Instamojo mobile site to complete the whole process.
- Step 4: Click on submit – wait less than an hour to activate your account.
Note: in case you failed to submit all the required details, you still can use Instamojo but only for 10,000 INR. For unlimited access, upload all the required documents.
Your First Product on Instamojo
Sell your Digital Products, Physical Products, Event Tickets and Others on Instamojo.
Once your product ready to sell, follow the given procedure;
- Step 1: Select the type of product.
- Step 2: Fill in the details about the product and upload your digital file.
- Step 3: Play with the Advanced and SEO options available.
- Step 4: Congratulations! You have published your first product.
Use Instamojo For Your Online Business?
- Sell digital products: No more paying to the authorities. With Instamojo, sell digital products with your name or company name in just 1.9% fees. Till now, Indians, unless they had funding for e-commerce could not sell anything. If they did, they had to sell under some other authorities that cost them additional commissions.
- Sell Everything: Be it eBooks, research articles, physical goods, music, any white papers, newsletters; the list is huge.
- Sell Tickets and Events: Instamojo allows you to sell tickets and membership programs.
- Social pay: Social pay is the concept of content marketing. If you don’t burden your readers with monetary pricing, go for a social share (currently Facebook and twitter tweets are allowed to share) in return for the provided service.
- Pay What You Like: This is helpful for online developers to create plugins and addons, charging flexible prices. Instamojo lets you pay as much as you want, helping NGOs and other foundations to run an online campaign for donation.
Want to know the free and paid addons that Instamojo offer, let’s take a look!
Instamojo Free and Paid Addons
Instamojo is not just about collecting payments online but also offers a whole bunch of free and paid applications in their App Store, let’s have a glimpse.
- Pro Analytics (200 credits/mo)
- Zepo Couriers (FREE)
- Payment Retry (400 credits/mo)
- SMS Sales Alert (300 credits/mo)
- Remove Button Branding (250 credits/mo)
- Missed Call Marketing (200 credits/mo)
And the list continues.
Create your FREE Instamojo Account and explore a variety of apps in your dashboard.
Instamojo Customer Care Support
Talking about the support, we had a good experience; in fact, they are quick in responding to emails and also have live chat support to help you solve your queries within minutes.
The best part is, if the support team doesn’t know the answer to your question then they connect you to the right person rather than messing things around.
Over To You
To all our Indian friends who want to sell their goods and services like books, eBooks, writing services or anything else, use Instamojo and unify all the payment methods to a single platform.
We hope you liked the Instamojo review. It’s a goldmine for all the bloggers, business prospects and marketers who want to make their online presence without the intrusion of big names.
The only problem of Instamojo is the limited geographical coverage; it’s limited to India.