Instamojo, a web-based payment gateway startup has announced to let third party service providers, startups and professionals to integrate and offer their services to Instamojo’s existing 120k SME customers. By this Instamojo wants to become full fledge SME platform connecting SMEs to service providers and also being a payment gateway.
They’re open to partnership with companies who can solve various needs of SMEs like Logistics, accounting, payroll, tax filing, payroll,compliances and others. Although it’s a beta program, for now, they’ve already partnered with VakilSearch (to get legal services), ClearTax, ProfitBooks, eCourierz, Vamaship and Loanzen.
The third party services have to use Instamojo’s API to integrate the service and will have to use their credit billing system (obviously). Also, the providers will get access to seller and merchant data for assessing business risk and offer services accordingly. This can help providers to target customers, thus helping SMEs as well.
Instamojo will get profit from charging a small percentage for every transaction through them. It took 18 months to build the platform and I think it’s very bold step by Instamojo, let see how it goes for them further.
Such platforms help in reaching out to diverse segments of customers. Instamojo has a very different set of businesses, and we are very optimistic about the partnership,” said Archit Gupta to ET.