Mastercard invests an undisclosed in Instamojo
By MYBRANDBOOK
Mastercard has announced that it has invested an amount in payments firm Instamojo, a move which will help digitise online stores and process their payments more seamlessly. Mastercard has not disclosed the amount of investment.
Instamojo offers small and micro merchants a ready-made virtual platform upon which they can quickly set up an ecommerce business and accept digital payments. Merchants have ready access to a fully functional online store with in-built payments and shipping capabilities, marketing tools and other value-added services such as logistics and credit facilities.
Sampad Swain, CEO and co-founder, Instamojo said, “While we started as a payments solution for the small business, we have broadened our purview since then and now we are focussed on the larger picture of providing the small businesses with a platform which helps them to start, manage and grow their business online. It is no longer restricted to just payment collection, but also about starting their own online store, collecting payments and shipping their products. Hence, creating an entire ecosystem of conducting business with ease for the small businesses. With players like Mastercard showing confidence in us, helps us broaden our horizon further.”
Mastercard has committed an amount of Rs 250 crore to support small business in India last year. Mastercard has launched various initiatives like growing digital payments awareness, providing low-cost digital and physical acceptance solutions, driving inclusive growth by enabling small merchants and retail stores with access to credit, and empowering women entrepreneurs by increasing their business acumen.
Rajeev Kumar, Senior Vice President, Market Development, South Asia, Mastercard, said, “MSMEs and gig workers are an important part of our Indian economy. Mastercard is committed to supporting them with the company’s strategic investment and partnerships to help them unlock the power and potential of digital commerce.”
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
ATRIE TECHNOLOGY PVT. LTD.
JUVAS SOLUTIONS PVT. LTD.
EXIDE INDUSTRIES LTD.
Technology Icons Of India 2023: Mukesh D. Ambani
An Indian billionaire businessman Mukesh Dhirubhai Ambani is currently...
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
Technology Icons Of India 2023: Gautam Adani
Gautam Adani is the Founder and the Chairman of the Adani Group, an In...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
R P TECH INDIA
R P Tech is recognized for its diverse products portfolio, value-add...
SAVEX TECHNOLOGIES PVT. LTD.
Savex Technologies is the 3rd largest Information & Communication Tec...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...