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Instamojo opts out of payments gateway bid
Mint Mumbai
|February 16, 2024
Focusing on upgrading platform to help merchants, says founder Swain

Mastercard-backed Instamojo might not re-apply for a payment aggregator (PA) licence, after its application was returned by Reserve Bank of India in September 2023.
Instamojo, a direct-to-consumer (D2C) technology platform backed by Mastercard, has shelved its plans to apply for a payments aggregator licence, after the Reserve Bank of India returned its application last September for not meeting the eligibility criteria.
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