An article that takes you through Indian payment gateway Instamojo www.deekpay.com

What is Instamojo Payment Gateway

Instamojo is a company that providesIndian companiesProvide onlinePayment GatewayIt was founded in 2012 in Bangalore. It was launched in Bangalore in 2012 and has grown to cover over 800,000 Indian businesses from 29 states and 7 UTs with over 10 million customers using the platform. It started as a payment link provider but is now a provider of complete payment gateway, lending, marketing, accounting and tax services.

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Instamojo Payment Gateway Pricing and Fees

Unlike most bank payment gateways, it's free to set up and maintain an Instamojo account. And there is no minimum commitment required. However, a fee is charged for each transaction. So instead of paying upfront to have an account, businesses pay based on the volume of sales they get using the platform.

Transfer Type Fee NEFT/ RTGS/ Bank Transfer Free Debit Card/ Credit Card (Mastercard/ Visa/ Maestro/ RuPay) per transaction 2% + ₹3 Internet Banking (SBI/ HDFC/ ICICI) per transaction 2% + ₹3 Wallet (Freecharge/ OLAMoney / JioMoney/ MobiKwik) per transaction 2% + ₹3UPI per transaction 2% + ₹3EMI per transaction 2% + ₹3Digital products and documents 5% + ₹3

A Goods and Services Tax (GST) of 18% will also be added to the cost of each transaction. Now let's take an example of a customer paying Rs. 1000 online to a business, the fees would be as follows:

Total Fees Client pays ₹1000Instamojo Fee 2% of ₹1000 + ₹3₹23Instamojo's GST Fee 18% of 23₹ 4.14 Actual arrival in the bank account of the business ₹972.86

Payment options supported by Instamojo Payment Gateway

Instamojo is an organisation with an inclusive and broadIndia PaymentsSystem. It has over 100 payment options covering all major payment methods preferred by Indian consumers. This includes 59 different Indian banks through online banking services. Included:

NEFT/ RTGS/ bank transfers Debit/Credit Cards - Mastercard/ Visa/ Maestro/ Rupay Internet Banking - SBI/ HDFC/ ICICI Wallets - Freecharge/ OLAMoney/ JioMoney/ MobiKwik UPI EMI Digital products and documentation

Special Note on Instamojo Fast Transactions : With Instamojo, a business can charge a maximum of Rs. 1,00,000 in a single transaction. This amount can be increased on a case-by-case basis after notifying Instamojo. Hence, if a business has a high value product or service, it can contact customer support to increase the business cap.

Instamojo Payment Gateway for International Payments

Instamojo accepts international cards but only processes payments in Indian Rupees. Instamojo does not support other currencies, so international customers will only see the amount in Indian rupees, and the exchange rate will be based on the exchange rate determined by their card.

Settlement of Instamojo payment gateway

Instamojo settles payments every business day. The transaction amount, less fees and GST, is then transferred to the bank account on file with the business. This usually takes 3 working days. So, for example, if a business receives a payment on Monday, the business will see it in the listed bank account on Thursday. Instamojo will notify the business of each payment via email.

Instamojo Payment Gateway Customer Service

Instamojo is primarily a digital platform that also extends to their customer service. If a business encounters any problems or needs a refund, they can view their extensive FAQs online, submit an online ticket or write directly to [email protected] Ask any queries and questions.

Atpay - we are a professional provider of payment solutions and have been deeply involved for many years inIndia PaymentsWe have successfully provided payment functions for countless customers at home and abroad. We are fully confident in payment integration and high-risk payment processing, and welcome inquiries and exchanges.