Instamojo Payment Gateway Review (India)

by Deepak on October 21, 2013

instamojo reviewFor a very long time I have been expecting a payment gateway like clickbank.com for India. Clickbank is an international payment gateway and an affiliate network which specializes on selling digital products online such as software and educational programs. It was not easy to make it work in India because most of the payments are handled through credit card and PayPal and very few Indians use them. Then after RBI regulations even using PayPal within India was impossible.

eCommerce is booming in India and a large percentage of Indian users have started using online payment services to buy on the internet. So far this was limited to big eCommerce sites who start large usually with venture capital funding or as a sub of a big conglomerate. To serve such big players sites payment gateways like ccAvenue emerged. Companies like ccAvenue are not interested in small players such as a digital marketing consultant starting an online course on digital marketing (ahem!). Payment gateways require us to have huge volumes, high setup fees and a hell a lot of paperwork.

Instamojo is God send for people like me who sell training programs online through internet and usually do in small volumes. They charge a flat 5% fees on incoming transactions and the payout is done every two weeks to our bank account of choice via NEFT.

The best thing about the entire product is its simplicity. When I started using it first, I was skeptical if it would work as expected because it looked too good and especially to simple to be true. Simplicity in a payment gateway? No chance! That’s what I thought until I received my first payout right on time.

Instamojo includes super cool analytics, a simple no nonsense layout and buttons where you can access the various options and functionality.

instamojo analytics

I would confidently say that Instamojo is a winner with people like me (and there are a lot like me in India). They have listened to the market and observed that there is a need that is being unmet and came up with a solution for it.

You can also accept $ payments if you are also selling something to the international marketing. People usually use PayPal to get payments from outside India but Instamojo is a solution for both Indian and international payments. For Indian payments, you can accept credit card, debit card or netbanking payments via Instamojo. Netbanking payments are the most important one because a lot of people in India do not have credit cards and even if they have one they hesitate to use it online. Credit cards are mostly never issued to college students except in rare occasions and if they want to buy something online, netbanking is the way to go.

But having said all this, Instamojo still has a lot to improve. Sometimes the layout and info provided in the login is too simple and it gives rise to confusion and hence the need for more support emails.

They are already improving but I hope they will listen to the needs of their customers and include features that make them the best payment gateway for digital products in India… AND maintain their market leadership.

{ 10 comments… read them below or add one }

Sandeep October 21, 2013 at 10:32 am

This looks good, apart You must check PayUPaisa.com , they dont even charge the TDR.. We are selling tickets on payupaisa platform.

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Deepak October 21, 2013 at 11:06 am

Thanks for the info. Will try them too and may be post a review of it and then compare both :)

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Suresh Kumar March 29, 2014 at 7:42 pm

@Sandeep, Will PayUPaisa allow selling services, like professional consultations and subscriptions. They said no to me : (

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Sampad Swain October 21, 2013 at 9:36 pm

Thanks Deepak for your kind words. Appreciate it. From our side, we promise to provide you the best platform to sell your stuff directly through a link from anywhere.

BTW, do keep a tab on our blog for more features/updates – http://blog.instamojo.com

Cheers,
Sampad Swain
Co-founder & CEO, Instamojo.com
@sampad | sampad@instamojo.com

Reply

Deepak October 21, 2013 at 10:58 pm

Great to hear from the CEO :)

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Ashish Tonk October 21, 2013 at 10:35 pm

Hi sandeep, even Instamojo let’s me sell tickets using their platform as they have a complete module for that. We are now completely using Instamojo for digital products and events tickets to go with our products. Love their simplicity and ease of use like deepak mentioned.

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Arun Thomas KB October 29, 2013 at 3:20 pm

Thanks Deepak. We ( Mobiles4Sale.in ) switched from ccAvenue to InstaMojo after reading this.

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Deepak October 29, 2013 at 4:04 pm

That’s great. Good to know that my blog post helped :)

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Akshay Handa November 29, 2013 at 4:23 pm

We at wow collections are using http://www.payupaisa.com and pretty satisfied. They have provided us a great support and the whole thing is free is makes it more awesome.
I love Instamojo too, but I feel its good to go with Instamojo only for digital stuffs.
I would rank Payupaisa a 8/10 and Insta 5/10 .
Apart, a good read!

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Ganesh N Kunjir January 25, 2014 at 6:44 pm

Fabulous Stuff!!!
Its a great for our future to grow our Local market in International Level.
Thanks Deepak.

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