Instamojo Review (2021): Best Payment Gateway? [₹500 Bonus]

Share this post -

If you are looking for one of the best payment gateways, you may have heard of Instamojo. Here is an honest Instamojo review for you.

Running an online business is one of the top ways to make money. As internet users are increasing day-by-day, more people are shopping online.

Online businesses require to collect payments from customers. Either they can develop their own payment method or use an already available Payment gateway.

If you search for the best payment gateways in India, you will come across various companies that provide brilliant service & features. One of them is Instamojo.

Instamojo Review

Instamojo review

Instamojo is not just a payment gateway. It is more than that. It helps you to create your online store without the need of creating your website.

With a lot of handy & helpful features, Instamojo is used by millions of online businesses to collect payments. Here, I have reviewed Instamojo & included all the features & transaction fees with a bonus for you.

Instamojo Features

While Instamojo is free to use i.e no setup fees or annual maintenance fees to pay, it offers a lot of features & tools that you can use to make the most out of your payment system.

Free Online Store

The best thing that other payment gateways don’t provide is an online store. With Instamojo, you can create your online store to sell digital as well as physical products.

Instamojo review - online store

You can choose a logo, add custom pages, page-specific scripts, social media links, etc. With a paid plan, you get to add testimonials & edit your online store with different themes.

You also get to create discount links or coupons for your products to increase sales. With a paid plan, you will also get wholesale & referral discounts for your customers.

With the free plan, your online store URL looks like – “”. If you want to change this to your custom domain name like “”, you need to upgrade to the premium plan.

Different Payment Methods

Instamojo offers a lot of payment options for customers to pay for your product or service.

Available payment options –

  • NEFT/RTGS/Bank Transfer
  • UPI
  • Domestic Credit & Debit Cards
  • Netbanking
  • Wallets – Freecharge, Ola Money, JioMoney, Mobikwik
  • ePayLater
  • International Cards (but not international transactions)

Transaction Fees –

  • 2% of the amount + ₹3 per transaction excluding GST for domestic transactions
  • Digital Products will incur a 5% + ₹3 convenience fee.
  • For Example,
    Customer pays you: 1000 (Domestic)
    Instamojo fee: 2% of 1000 + 3 = 23
    GST on Instamojo fee: 18% of 23 = 4.14
    Amount paid out to your bank account: 1000 – (23 + 4.14) = ₹972.86
  • International Cards – 3% + INR 3

Convenience Fee Option

This feature allows a merchant to automatically pass on the Instamojo transaction fee to their buyers while collecting the payment.

Let’s say you create a payment link of Rs 1000 and send it to your customer, after enabling the convenience fee option.

The customer clicks on the link to pay the amount that includes a convenience fee/ convenience charge of Rs 38.94 (3% + ₹3 + GST).

The customer pays Rs. 1038.94 in total. You get Rs 1000 in your bank account as per your payout cycle.

Payout To Bank Account

While signing up, Instamojo asks for a PAN card number & bank account details to transfer your received payments.

The transaction amount is transferred to your bank account in 3 business days since the day of the transaction, after deducting the transaction fee and GST.

For example: If you received payments of ₹1000 on Monday, ₹972.86 will be the amount you will receive on Thursday directly in your bank account.

Instamojo pays its sellers on every business day. That is, you receive a payout every day from Monday to Friday for your payments.

Different Ways Of Payment

It is easy to collect payments through the online store. If you want to collect money outside the online store like WhatsApp or other ways, you need to create a payment link.

After the payment link is created, you can share the link anywhere & customers will be able to pay you through that link. You can convert the link into a button & embed it on your website.

Your default payment link is – “”. For a particular service or product, you can create custom payment links.

Instamojo App

Instamojo review - App

Instamojo also has an android app in which you can manage your account. In this app, you can create payment links, manage online store, orders, add products, check payments, etc.

Various Payment Apps

Instamojo provides different payment apps or addons which are helpful to scale up your online business & offer better service to your customers. Some of them are free & for some, you need to pay.

Some of the available payment apps –

  • Shoppr – provides advanced analytics for your products & customers
  • Zapier – connect Instamojo account with 2000+ apps on Zapier
  • MojoXpress Shipping – Send packages  to customers from Instamojo
  • Payment Retry – send an automated email to your customers if the payment fails
  • DripZen – send automated SMS & emails

Become a Reseller

You can become a reseller & earn money on Instamojo. How? By promoting other Instamojo sellers’ products.

You just need to search for a product, generate your reseller link & when someone buys the product through your reseller link, you earn a commission.

Free vs Premium Plan

While you get most of the features for free, Instamojo offers more advanced features & services in their premium plan. Their premium plan costs Rs 7999 per year.

Features that premium plan offers –

  • Domain & Mailbox linking to your store
  • Abandoned Carts
  • 500 free emails & 300 free SMS
  • Email & SMS Campaigns
  • Custom Metatags
  • Google Webmaster
  • Unlimited custom pages
  • Professional themes
  • Store testimonials
  • Referral & Wholesale discounts

MojoPlus Rewards

Instamojo has introduced a new reward program where you can earn points for collecting payments & redeem them for different discounts or payment apps.

How does it work?

  • Earn 1 point for every ₹100 you receive and an additional 1 point per payment
  • You can earn unlimited points on every payment
    Complete milestones to get bonus points & benefits
  • Redeem points on payment apps, avail discount on transaction fees, faster payout fees & shipping fees.


If you have not done KYC, your account is limited. You can receive payments up to a maximum amount of Rs. 10,000/- per month. The limit resets on the 1st of every month. A single transaction cannot be more than Rs.10,000/-.

To remove this limit, you need to submit your documents for KYC verification. Upload or scan PAN Card or Bank Statement (with Name & Address visible).


Here’s a bonus for you. If you register on Instamojo by clicking on the button below you will get Rs 500 (in your bank account) absolutely free after receiving your first payment.


So, this was the Instamojo review & I have tried to add all the details & features. If I missed something, you can add it in the comment section below.

I recommend Instamojo for its excellent features & service. If a problem occurs, you can always contact their support.


Payment Methods
Ease Of Use


Instamojo is perfect for small businesses & bloggers to collect payments. If you are a beginner & want to receive money, go with Instamojo.



What is Instamojo?

Instamojo is a payment gateway that helps you to collect payments from your customers.

Is Instamojo safe?

Yes, Instamojo is safe to use. Instamojo is compliant with PCI-DSS as a measure to make sure that the transaction data are 100% safe with Instamojo.

What does Instamojo cost?

Instamojo is free to use. There are no setup fees or annual maintenance fees. But, transaction fees (like convenience fee & GST) are applicable on payments.

Does Instamojo support international payments?

No. Instamojo doesn’t support international or multi-currency payments. Only Indian customers can pay through Instamojo.

Which is better Instamojo or RazorPay?

They both are good. But, Instamojo allows you to create a free online store which RazorPay doesn’t. Hence, that’s a plus point for Instamojo.

Also Read