According to a 2013 study, less than 5% of India’s 47 million SME businesses even maintain a web presence. And 61% of the Internet-using SMEs are concerned about the security of online financial and personal transactions, which is hindering the adoption of e-commerce by these businesses.

Traditionally, merchants use banks’ NEFT payments, which take over 24 hours, or register with a payment gateway that prefers large volume players. They also take upfront fees and require weeks to start.

Businesses can start using Instamojo in a few minutes. The payment is transferred once merchants’ KYC and other details have been confirmed. A large number of SMBs in India offer a significant market opportunity that excites us.Read more