Aadhaar, Jan Dhan giving big push to digital India ecosystem: Instamojo's CEO

New Delhi, Feb 25 (IANS) As the government accelerates its digital journey, Instamojo’s CEO Sampad Swain highlighted the impact of Aadhaar and Jan Dhan Yojana on India’s digital ecosystem. Swain emphasized on the opportunities created in the last few years, including the JAM Trinity, availability of credit, and the role of social media for small business owners.

Instamojo, a D2C tech company, provides online stores and payment solutions for e-commerce brands and startups. Despite facing a setback last year when RBI returned their license application, Swain remains optimistic and stated that they are preparing to reapply by September, with a focus on data security and compliance with regulations.

In FY2023, Instamojo reported significant profits and steady growth in its customer base, currently serving over 3 million small business owners on its platform. Swain expressed confidence in the company’s continued success, projecting a profitable year in 2024.

The CEO highlighted the importance of adapting to regulatory requirements and maintaining a strong customer base in the competitive digital market. Instamojo’s focus on empowering small businesses with online tools and payment solutions has contributed to its growth and success in the evolving digital landscape.