Instamojo.com is an online platform that facilitates payments for physical or digital goods and services via a link. This is a departure from electronic bank transfers where IFSC code is required. Suppose your friend has a bank account in SBI, Mumbai. To send him money you needed to know IFSC code of SBI, Mumbai and his bank account number.
But with Instamojo, you can transact without knowing the account number of IFSC code. Since the payment comes via a link, it can be instantly shared through various media like SMS, Whatsapp, Email etc. Instamojo provides you an out-of-the-box e-commerce framework that takes care of mundane stuff from payments to delivery. Sellers can share a link wherever their audience are.
The necessity to simplify online payments with a link was felt in 2010, when one of its founders Sampad created a series of video interviews but found it hard to monetize it. He then worked with some associates to create an online payment platform and Instamojo was born.
With Instamojo, the subscribers can sell their digital products right from manuals, downloads, documents, artwork, memberships, subscription and much more. Then they can paste the button on their website, or share the link with their audience using social, web and mobile channels.
That means, Instamojo is not a marketplace in the traditional sense. Its goal is to help the subscribers sell their stuff directly to the audience by simply sharing a link.
Instamojo supports users who have an Indian bank account to use the platform to collect payments. The payments occur in INR and international payments are also allowed. So the buyers can be from outside India.
Creation of a new offering on Instamojo is considered as a "Link". That can be a digital content upload or creation of an event to sell tickets or making a subscription or membership offering etc. Basically, anything that the subscriber is selling or accepting money for is a link. There are a few restricted items that cannot be sold and these are listed under restricted categories at instamojo.com/terms.
And to help you sell to your audience, Instamojo provides you an out-of-the-box e-commerce framework with tools and features that would help you reach your audience via websites, blogs, social networks, email lists and more while the Instamojo team looks into details like processing payments from your customers and delivering the goods etc.
Your online transaction on Instamojo is secure with 256-bit encryption the highest level of security currently available on net and securely transmits information to the respective banks for payment processing. Instamojo payment transactions are processed through secure and trusted payment gateways managed by leading banks.
Instamojo lets you price your products as you want:
- Consider what your product is worth in the market, and how much buyers would be willing to pay for it.
- Sellers can also add variants of the product, and sell at different price point. For example, a beginner and pro version of it.
- A base price can be set and the buyer can decide what he wants to pay for it. The buyer will be able to pay any amount higher than the specified base price.
With the Instamojo platform, online payments have become fast, easy and safe and sellers can find international audience for their products and services.
