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Mastercard partners with Instamojo to help MSMEs and gig workers

Monday 28 June 2021 12:48 CET | News

Mastercard has announced a strategic equity investment in India-based online selling platform Instamojo

This investment is aimed to provide MSMEs and gig workers with solutions that will help them to digitise and help setting up online stores, equip with digital payment acceptance capabilities and reach out to customers, even during the pandemic.

Instamojo is a platform that offers small and micro merchants a virtual platform upon which they can set up an ecommerce business and accept digital payments. Using Instamojo’s platform, merchants would have access to an online store with in-built payments and shipping capabilities, marketing tools and other services such as logistics and credit facilities. 

Mastercard committed USD 33 million to support small businesses in India in 2021. As part of this commitment, the company launched several initiatives like growing digital payments awareness, providing low-cost digital and physical acceptance solutions, and increasing access to credit for small merchants and Kirana stores. The investment and partnership in Instamojo are an extension of Mastercard's commitment to financial inclusion, which pledges to bring one billion people and 50 million micro and small businesses into the digital economy by 2025, according to the company.

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Keywords: partnership, Mastercard, gig economy, online payments
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce






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