{"id":4125,"date":"2016-12-20T08:00:13","date_gmt":"2016-12-20T02:30:13","guid":{"rendered":"http:\/\/blog.instamojo.com\/?p=4125"},"modified":"2021-06-07T12:03:45","modified_gmt":"2021-06-07T06:33:45","slug":"milestone-userbase-growth-demonetizaton","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/milestone-userbase-growth-demonetizaton\/","title":{"rendered":"Instamojo Adding 1000 Daily Merchants & That\u2019s Just the Beginning"},"content":{"rendered":"

Once upon a time, three friends sat brooding in a cafe over a need in the market – the need to collect payments. And Instamojo was born. About 4 years and two cities later, Instamojo has come a long way.<\/span><\/p>\n

Today we\u2019re celebrating a major milestone. Here are some numbers to crunch on:<\/span><\/p>\n

1. We are adding 1000 daily small business merchants on our platform on an average.<\/p>\n

2. \u00a0At peak, post demonetization, we added 3000 SMEs.<\/p>\n

3. That’s a 1500% hike in our daily average!<\/p>\n

The numbers jumped significantly post demonetization. Today we have more than 200,000+ online SMEs who use Instamojo to collect payments over various platforms like Whatsapp, Email, SMS through Debit\/Credit cards, Netbanking and other Digital Wallets.<\/p>\n

These sellers are everyday guys from all over India, and surprisingly, a huge chunk (65%) of them hail from tier II, tier III and tier IV cities – proof that Instamojo is as easy as the alphabet and access to it is even easier.<\/span><\/p>\n

Take it from our CEO, Sampad Swain:<\/span><\/p>\n

So far, 1 out of 100 of all active Indian SMEs use Instamojo.<\/span><\/i><\/p>\n

While retail stores, street vendors and technology enterprises like e-commerce etc. have found their payment solution in Point-of-Sale (POS) machines, Digital Wallets and Payment Gateways respectively but 47 Million small & micro SMEs haven\u2019t. Instamojo is filling that big gap in the market with its offering across mobile & web.<\/span><\/i><\/p>\n

The gap only widened after the demonetization move and we just hope to make life easier for our customers.<\/span><\/p>\n

..with demonetization and broader push towards cashless economy, we will bridge that gap faster as more SMEs rapidly transition towards digital platforms like Instamojo, which requires only bank account & mobile phone to get started unlike other alternative which requires hardware installation (POS machines), artificial restrictions ideal for micro transactions (Wallets) or technical integration (Payment Gateways)<\/span><\/i>.<\/span><\/p><\/blockquote>\n

Going Forward:<\/b><\/p>\n

We are set to explore new waters in the coming year. Payments is just the tip of the iceberg, we are all set to go deeper.\u00a0There are a ton of things we have done this year and there are a ton more things to do.<\/span><\/p>\n

We want to join forces with several big-wigs in the e-commerce ecosystem to make other elements like logistics, lending, paperless accounting and digital marketing easily available to our customers. <\/span><\/p>\n

\u201c<\/span>By FY2018, Instamojo will have 1 million SME merchants on its platform. So far, only offline Point-of-Sale (POS) companies have accomplished this feat with a total installed base of 1.2 Million that took 15 years; however it will take less than 5 years for Instamojo to breach the millionth mark,\u201d Sampad adds.<\/span><\/i><\/p><\/blockquote>\n

We couldn\u2019t have asked for a better way to end 2016. Thank you for all the love.<\/p>\n

Join the Instamojo experience today!<\/span><\/p>\n

\n

GET STARTED NOW<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Instamojo is celebrating a major milestone. We’re adding 1000 new SMEs everyday and have grown 1500% since demonetization!\n","protected":false},"author":6,"featured_media":4411,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[12,118,119,120,121,19],"yoast_head":"\nInstamojo Adding 1000 Daily Merchants & That\u2019s Just the Beginning<\/title>\n<meta name=\"description\" content=\"Once upon a time, three friends sat brooding in a cafe over a need in the market - the need to collect payments online. 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