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Instamojo VS Razorpay

Compare Instamojo VS Razorpay and see what are their differences

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Instamojo logo Instamojo

Instamojo helps you setup a Payment Gateway in India for Free Online. Collect Payments on your Website, Mobile App, via Social Media, eMail, SMS & more!

Razorpay logo Razorpay

Payment gateway solution for India with robust, developer friendly API and simple economic pricing.
  • Instamojo Landing page
    Landing page //
    2023-04-24
  • Razorpay Landing page
    Landing page //
    2023-10-18

Instamojo

Website
instamojo.com
Pricing URL
Official Instamojo Pricing
Release Date
2012 January
Startup details
Country
India
State
Karnataka
City
Bengaluru
Founder(s)
Aditya Sengupta
Employees
100 - 249
Edit details

Razorpay

Website
razorpay.com
Pricing URL
Official Razorpay Pricing
Release Date
2014 January
Startup details
Country
India
State
Karnataka
City
Bengaluru
Founder(s)
Harshil Mathur
Employees
1,000 - 1,999
Edit details

Instamojo features and specs

  • Ease of Use
    Instamojo offers a user-friendly interface, making it easy for businesses, especially small and medium enterprises, to set up and manage their online payments without needing technical expertise.
  • Wide Range of Payment Options
    Instamojo supports a variety of payment methods including credit/debit cards, net banking, UPI, and wallets, providing flexibility to customers and increasing the likelihood of successful transactions.
  • Integration Capabilities
    The platform can be easily integrated with websites, mobile applications, and other third-party services, allowing businesses to seamlessly incorporate payment processing into their existing systems.
  • No Initial Setup Fee
    Instamojo does not charge any initial setup fees, making it an attractive option for startups and small businesses looking to minimize upfront costs.
  • Additional Business Tools
    In addition to payment processing, Instamojo offers a range of tools for business analytics, marketing, and customer engagement, providing added value to merchants.

Possible disadvantages of Instamojo

  • Transaction Fees
    Instamojo charges a transaction fee on each payment processed, which may be considered high for some businesses, affecting their overall profit margins.
  • Limited International Support
    The platform primarily targets the Indian market, and while it does allow for some international transactions, its global support is not as robust as some other payment processors.
  • Payout Delays
    Some users have reported delays in receiving payouts, which can be a concern for businesses that rely on steady cash flow.
  • Customer Service Issues
    Feedback from users indicates that customer service can be slow to respond at times, which can be a problem when needing immediate assistance or support.
  • Feature Limitations
    While Instamojo provides a variety of tools, some advanced features available on other platforms might be missing or need enhancements, potentially necessitating additional resources for growing businesses.

Razorpay features and specs

  • Comprehensive Payment Solutions
    Razorpay offers a wide range of payment options including credit and debit cards, net banking, UPI, and mobile wallets. This makes it easier for businesses to cater to a diverse customer base.
  • User-Friendly Interface
    The platform is designed to be intuitive and easy to use for both merchants and customers, facilitating smooth transactions and management.
  • Quick Integration
    Razorpay provides various plugins, APIs, and SDKs that make it easy for businesses to integrate the payment gateway into their websites and mobile apps.
  • Extensive Developer Support
    Razorpay offers detailed documentation, SDKs in multiple languages, and a sandbox environment for testing, which helps developers implement the payment system efficiently.
  • Security Features
    Razorpay is PCI DSS compliant and employs advanced security measures like tokenization and encryption to ensure that all transactions are secure.
  • Global Acceptance
    Razorpay supports international payments, making it suitable for businesses looking to cater to customers abroad.
  • Advanced Analytics
    Razorpay provides detailed and customizable analytics and reporting tools that help businesses to track their transactions and understand payment trends.

Possible disadvantages of Razorpay

  • Transaction Fees
    Razorpay charges transaction fees which might be considered high by small businesses, cutting into their profit margins.
  • Customer Support
    Some users have reported that the customer support could be slow to respond and less effective in resolving certain issues.
  • Settlement Times
    For some businesses, the settlement time for transactions can be slower than expected, affecting cash flow.
  • Account Approval Process
    The initial account approval and verification process can be lengthy and requires a lot of documentation, which may be cumbersome for new businesses.
  • Service Downtime
    There have been occasional reports of downtime or technical issues, which can affect the ability to process payments seamlessly.
  • Limited Offline Payment Options
    Razorpay is predominantly an online payment gateway, and its solutions for accepting offline payments are limited compared to other providers.

Analysis of Razorpay

Overall verdict

  • Razorpay is a reliable and efficient choice for businesses looking to facilitate online transactions, especially within India. It is well-suited for startups, SMEs, and larger enterprises due to its comprehensive offerings and ease of use.

Why this product is good

  • Razorpay is a popular payment gateway in India known for its robust suite of payment processing capabilities. It offers a wide range of features including the ability to accept and disburse payments, easy integration options, and a seamless checkout experience. Razorpay supports multiple payment modes such as credit cards, debit cards, net banking, UPI, and wallets. Its user-friendly platform is ideal for businesses of various sizes and it provides strong security features to ensure safe transactions.

Recommended for

  • Startups and small businesses looking for a cost-effective and easy-to-integrate payment solution.
  • E-commerce platforms requiring support for multiple modes of payment.
  • Businesses intending to scale in the Indian market given Razorpay's strong foothold in India.
  • Companies seeking reliable customer support and a customizable payment solution.

Instamojo videos

+ Add

Instamojo Review: Create Your Own Online Store to Sell Any Product (2018)

More videos:

  • Review - My Earning Proofs Revealed​ From E-book Sale On Instamojo! Kitna Paisa??
  • Tutorial - Instamojo 👉🏻 How to create Instamojo Payment Gateway account and collect online payment free

Razorpay videos

+ Add

Razorpay Payment Gateway Review - First Impressions by DigitalDeepak

More videos:

  • Review - Razorpay - Best Payment Gateway for Indian WordPress eCommerce Websites - WooCommerce

Category Popularity

0-100% (relative to Instamojo and Razorpay)

Instamojo

Razorpay

eCommerce
100 100%
eCommerce
0% 0
Online Payments
0 0%
Online Payments
100% 100
eCommerce Platform
100 100%
eCommerce Platform
0% 0
Payment Platform
0 0%
Payment Platform
100% 100

User comments

Share your experience with using Instamojo and Razorpay. For example, how are they different and which one is better?
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Reviews

These are some of the external sources and on-site user reviews we've used to compare Instamojo and Razorpay

Instamojo Reviews

5+ Best Payoneer Alternatives For Freelancers & Businesses
If you are an Indian freelancer, service provider, or business owner, you’d love Instamojo. It is an all-in-one platform for selling products & services online that also provides a payment gateway.
Source: digitalmarketingtipsy.com
9 Best Payoneer Alternatives for Freelancers | 2022
Notably, the platform offers an all-in-one platform for selling products and services online providing a payment gateway. With Instamojo, you can build your online business but better for freelancers is being able to receive payments through its payment gateway and links. The platform allows you to embed a “Pay” button on your website with just a single line of code making...
Source: www.digitalgondola.com
Payment Gateways for marketplaces: Paytm Vs Razorpay Vs Instamojo
Razorpay agreed to stop sending emails but Instamojo said they can't. I don't use Instamojo anymore.
Source: www.linkedin.com
Top 8 payment gateways for your ecommerce business
The ones looking for reliable names, CCAvenue, PayU and DirecPay are worth considering. CitrusPay appears to be one of the best too, bearing in mind that the company scaled up in just few years. For quick approvals and hassle free paperwork, Zaakpay and Instamojo sounds good, although Zaakpay’s merchant support service is quite slow in addressing and resolving issues. Atom...
Source: indianonlineseller.com

Razorpay Reviews

5+ Best Payoneer Alternatives For Freelancers & Businesses
Razorpay also facilitates receiving payment from your clients even if they pay you via their PayPal account. The cross-platform payment feature is possible in Razorpay.
Source: digitalmarketingtipsy.com
9 Best Payoneer Alternatives for Freelancers | 2022
When it comes to freelancers, Razorpay offers a feature where they can set up automatic payment reminders for clients. The platform also facilitates payment receiving from clients even when they pay through other online payment services including PayPal. With Razorpay supporting over a hundred currencies, one can collect payment through more than a hundred payment modes. You...
Source: www.digitalgondola.com
Payment Gateways for marketplaces: Paytm Vs Razorpay Vs Instamojo
Payment gateways take many actions when they receive payments; one of them is sending an email to the payer. Both Razorpay and Instamojo do this. But I don't like them sending emails to my customers. Its too obtrusive for my taste. When I buy a computer I don't want to receive one email from Intel thanking me for buying their chip, another email from Microsoft or Apple...
Source: www.linkedin.com

Social recommendations and mentions

Based on our record, Razorpay seems to be more popular. It has been mentiond 9 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Instamojo mentions (0)

We have not tracked any mentions of Instamojo yet. Tracking of Instamojo recommendations started around Mar 2021.

Razorpay mentions (9)

  • Accept Payments in Your Flutter App Using Razorpay
    Razorpay is a payment gateway that enables Indian businesses to accept online payments from customers using a wide range of payment methods, including credit and debit cards, net banking, UPI, and digital wallets. It is known to be one of the major platforms for accepting payment in India. Source: over 2 years ago
  • Integrate Razorpay Payment Gateway with Vue 3 and Laravel
    I am starting a blog series for payment gateway integration with Vue 3 & Laravel. Let's start with Razorpay Payment Gateway. - Source: dev.to / over 2 years ago
  • Different Types of Payment Gateways in E-Commerce Development
    Razorpay: Razorpay, a unicorn business in India, is one of the country's most popular and finest payment gateway firms, founded by Harshil Mathur in 2014. Razorpay is known for its ease of use and quick activation. A dashboard that displays real-time purchasing data. It's quite easy to use. Small, medium, and big enterprises, as well as freelancers and self-employed people, choose Razorpay. It allows you to pay... Source: about 3 years ago
  • Watery : A water delivery solution android app
    Now you can pay via Cash On Delivery Or Online. Here I have intrigate Razorpay to accept online payments. After successful payment your order will be placed. When payment is successful the date is saved as a Order object in Appwrite's Database. - Source: dev.to / about 3 years ago
  • Stripe payment integration
    Check out razorpay , The docs are not so good though but it supports UPI and is the largest payment gateway in India. Source: over 3 years ago
View more

What are some alternatives?

When comparing Instamojo and Razorpay, you can also consider the following products

Shopify - Shopify is a powerful ecommerce platform that includes everything you need to create an online store and sell online. Try it free for 14 days.

Stripe - Online payment processing for internet businesses. Stripe is a suite of payment APIs that powers commerce for online businesses of all sizes. Use Stripe’s payment platform to accept and process payments online for easy-to-use commerce solutions.

Dukaan - Dukaan is the easiest way to start, run and grow your online business.

PayPal Braintree - An all-in-one solution to accept, process, and split payments in your mobile app or online - from small business to large enterprise.

BuildMyMart - Easy, affordable and impactful ecommerce

PayPal - PayPal is the faster, safer way to pay online without sharing financial details, send and receive money or accept credit and debit cards as a seller

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