Mastercard has announced its strategic equity investment in Instamojo, a payments and online selling company, to help small businesses go digital.
CEO and Co-founder of Instamojo – Sampad Swain, said, “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.”
He added, “With players like Mastercard showing confidence in us, it helps us broaden our horizon further.”
Rajeev Kumar, Senior Vice President, Market Development in Mastercard’s South Asia region, 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. Mastercard’s partnership and investment in Instamojo is a step in this direction and will enable millions of small businesses to grow by strengthening their digital footprint and payment acceptance capabilities.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.