Merchants and users on Instamojo will now be able to download third-party apps which can complement their business needs, the company said in a blog. Instamojo will be getting other developers making apps for their app store but to begin with, it has partnered with cloud telephony company Ozonetel to allow merchants to launch missed call marketing campaigns.
“Through the Missed-Call marketing app, Instamojo sellers (and potentially businesses of all scale & size in India) have access to a brand new marketing channel they never would’ve thought was possible,” the company added in the blog. The company added that the app store and its APIs are still in alpha and that they are onborading partners selectively.
— Sampad Swain (@sampad) November 4, 2016
Instamojo had launched an app store back in 2014 but it had not allowed third-party developers such as Ozonetel to develop apps for the platform. At the time, it had apps for SMS for an SMS notifications, emailing multiple customers among others.
In July, the company said that it is partnering with Vakilsearch.com, Cleartax.com, Profitbooks.net, eCourierz.com and Loanzen.in among others to create ‘apps’ for services they provide and list them as a subscription pack costing anywhere between Rs 3,500 to Rs 13,000.
So far the company has been boosting its product offerings to merchants:
UPI payments: Instamojo partnered with ICICI Bank to enable payments via the Unified Payments Interface (UPI). With this tie up, Instamojo will have UPI as a payment option along with credit and debit cards, netbanking and wallets. CEO Sampad Swain told MediaNama that they have a revenue sharing agreement with the bank for every UPI transaction through their merchant base, but declined to give specifics.
Storefronts: In January, it introduced an online store that will provide users with tools to build a page and sell products on them. The storefront will be made available on instamojo.com/<username> and will be free to maintain. Instamojo will essentially profit from integrating its payment service into these webfronts on which it charges 1.9% of the transaction amount.
Instapay: In May last year, it launched Instapay, a payment method that lets users collect payments using their Instamojo usernames. Essentially, the user’s username would act as a proxy for their bank account, enabling to pay directly.