On Dec 22nd 2016, I came across an email that made me joyous and proud, almost wanting to pour a big one and break into a dance.
The text of the email is below.

Hi Maria,

Thanks. Yes, as I was mentioning, we signed up with Instamojo (without even looking at the fees being charged) mainly because of the simplicity and a very smooth and hassle free on-boarding process . The UI / design is one of the best we have come across. Keep it up!

As a startup our main priority at the moment is acquiring new customers and not be too concerned about 1-2% excess rate.
Instamojo, the startup where I work competes in an extremely commoditised environment called the payments industry.
Our customers are small to medium business who’ve decided to accept payments “online” which translates to them not wanting to rely on clunky bank transfers or 2000 year old technology called “paper” (referred to as cheques or cash depending on context).
The basic feature set we offer does not (and mostly cannot) differ from our competitors. The requirements are effectively commoditised - credit/debit card payments, EMI payments, and a bunch of more things are available across every player, because every player has built something on top of the VISA/MasterCard/Bank networks. 
Everyone in the payments industry competes on the price, no one competes on experience.  What we’re attempting is similar to (I daresay) what Apple has pulled off in the computing industry.
Lets take the iPhone. Making a phone is commoditised, in fact the camera sensor for the iPhone is made by Sony, the RAM (and recently the screen too) is made by Samsung. These are commoditised things, yet the iPhone stands far ahead of it’s competition . In fact, it comfortably prices itself far ahead of the competition too and people have been more than willing to shell more for something they perceive as the best.

People mentioning our onboarding process and design (the hallmarks of a great experience) as a reason they are willing to pay more in an industry where everyone pinches pennies is a little sign of delivering value above and beyond what other people even think about. 
Of course, the payments landscape changes everyday and as a tiny startup we have loooooong way to go; but you gotta stop and celebrate the little wins along the way.