How to Signup for a Payment Gateway in India?

Are you a small business worried about getting a Payment gateway? Are you looking for a payment gateway for a home business without company registration? Do you want to collect payments online without having a website? Are you looking for a payment gateway for your e-commerce store? Are you worried about the initial cost of setting up a payment gateway?

Well, I’ll tell you the solution for all these questions in this single post.

This is the 4th lesson of our Free e-commerce course and in this lesson, I’ll show you how to sign up for a payment gateway in under 30 minutes, even if you are a small home based business without any tax registration and the best part is there is no cost involved in setting up your payment gateway.


A few years back, getting a payment gateway was very tough. They required a registered business, physical documentation, agreements, setup costs, Annual Maintenance charges etc. Now, it is relatively easy but still, most payment gateways follow those cumbersome process and costly for new business.

Instamojo – Our Payment Gateway

I’m going to introduce you to Instamojo, a hassle-free payment gateway from our very own Bangalore, get started in 15-30 minutes and the entire documentation is done online. The Best part is you can start collecting the payments before uploading the documents itself but it is limited to ₹20,000, once you upload the simple KYC documents and once they are verified, your limits will be removed.

How much does it cost?

Free signup, no setup cost, no annual charges, no monthly charges, no hidden fees. Only a modest 2% + ₹3 per transaction will be charged. If you don’t perform a transaction, then there are no charges.

Special features

You can use it as a traditional payment gateway, or else you can it to create links and send to your clients and then they click on the links and make online payments. You can also use it as a stand-alone e-commerce store also. You can either choose to pay the transaction charges by yourself or pass it on to the customers as convenience fees.

How long will it take for the funds to get deposited?

It will take 2-3 business days for the funds to get deposited in your bank account and it is a very reliable payment gateway, which I’m using for the last 3 years.

How to Sign up?

Go to Instamojo using this link and click on sign up and sign up for the account. Once signed up, click on Remove limits and upload the KYC documents. When it asks for the web presence details enter your website address (if you have) or your business Facebook page address and submit them. They will verify your account in 2-3 days but till then you can use the Payment gateway to collect a total of ₹20,000 INR.

Bonus: Use the Instamojo links given in this article to get a Signup bonus of ₹500 get deposited to your account, when you verify your account and make the first sale.

Read the below article if you have any doubts during sign up and also on how to use it as an e-commerce store.

5 steps to create your own free online store without coding

See you all in the next lesson.

Raghu Chinnannan

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