wordpress blog stats
Connect with us

Hi, what are you looking for?

Instamojo launches Instapay to transfer money sans bank details

Instamojo, a website which allows users to buy and sell their digital goods, has introduced Instapay, a payment method that will let users collect payments using their Instamojo usernames, reports ET Tech. According to the company, about 600 merchants are already using the service over the last week. To use the service, users only need to share instamojo.com/@username with customers, enabling them to pay directly. Essentially, the user's username acts as a proxy for their bank account. The payout cycle and transaction fees are the same for Instapay as for other transactions over the platform. According to Instamojo, it will take on board small and medium business segments that have trouble receiving or making payments. Instamojo mentions that if users need to collect more information or set a price etc, then they will be required to create links, however users can adopt both approaches at the same time. As of now, users will not be able to use Instapay to carry out transactions using non-Indian/foreign bank credit and debit cards for INR priced links. Founded in 2012 by Sampad Swain, Harshad Sharma and Akash Gehani, Instamojo allows users to collect online payments by simply creating a payment link, adding details like price, sharing the link on websites, through an email, and even on WhatsApp or through SMS, and receive payment. Previous developments: - In September last year, Instamojo launched an app store that provides users with a suite of apps to simplify online selling and collection of payments. Users needed…

Please subscribe/login to read the full story.
Written By

Free Reads

News

As per a report, Apple has been testing its own large language model (LLM) since last year but its technology remains behind the AI...

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

News

According to a statement, the executive body of the European Union had also sought internal documents on the risk assessments and mitigation measures for...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ