Softwr

Accounting · head to head

Happay vs Mercury

Happay logo

Happay

Accounting

Indian travel, expense and corporate card platform, now owned by MakeMyTrip

From
On request
Rated
-
Full reviewWebsite
Mercury logo

Mercury

Accounting

Banking for startups

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Mercury has a free tier, so it costs nothing to try first.
  • Each has a real cost: Happay the platform has changed owner twice since 2021, from founders to CRED to MakeMyTrip, and each transition has meant leadership churn and roadmap reprioritisation.; Mercury treasury access requires a $250,000 balance held with Mercury
  • They diverge on capability: Happay covers GST-aware capture, Mercury covers Business checking.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Happay and Mercury actually diverge.

Attributes where Happay and Mercury differ
AttributeHappayMercury
Starting priceOn requestFree
Pricing modelquotefreemium
Free tierNoYes
FoundedUnknown2019

Identical on both: platforms (Web, iOS, Android), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Happay

  • GST-aware capture
  • Corporate cards
  • Self-booking travel
  • Cash advances
  • Approval matrix
  • Analytics

Only in Mercury

  • Business checking
  • Savings accounts
  • Virtual cards
  • Team management
  • API access
  • QuickBooks
  • Xero
  • Stripe

What people use each for

The jobs each tool is most often brought in to do.

Happay

  • An Indian enterprise needing GST input credit fields captured at the point of expense submissionnot Mercury
  • A company with field sales staff needing rupee prepaid cards with merchant category limitsnot Mercury
  • A finance team replacing a spreadsheet-and-email cash advance process with a tracked workflownot Mercury
  • An Indian group wanting travel booking and expense from one supplier with domestic content depthnot Mercury

Mercury

  • Business banking and payments for startupsnot Happay
  • Managing treasury, invoicing and corporate cards from one accountnot Happay

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Happay

  • The platform has changed owner twice since 2021, from founders to CRED to MakeMyTrip, and each transition has meant leadership churn and roadmap reprioritisation.
  • It is now owned by an online travel agency, so the incentive is to grow travel bookings, and expense-only customers are not the strategic centre of the product.
  • Card issuance depends on partner bank relationships, so limits, approval times and product features are constrained by a bank the customer does not choose.
  • Coverage is overwhelmingly India-specific, which makes it unsuitable as a group-wide platform for companies with foreign subsidiaries.
  • Integration depth outside common Indian ERP and accounting systems is thin, and connecting a global SAP instance usually needs bespoke work.

Mercury

  • Treasury access requires a $250,000 balance held with Mercury
  • Non USD international wires carry a 1% conversion fee
  • Choosing OUR wire coding, which covers intermediary bank charges, costs $15 per wire
  • ACH invoicing is $1 per transaction on Mercury Plus and only free on the $299 a month Pro plan
  • Advanced and recurring invoicing require Mercury Plus at $29.90 a month

Pricing, plan by plan

Happay

On request
  • Happay$undefined/year
    • Quoted per-user or per-transaction subscription
    • Card programme terms set with the partner bank
    • Travel booking fees separate from expense subscription

Mercury

Free
  • Mercury (Free)Free
    • ACH payments
    • Domestic wires
    • Real-time payments
  • Mercury Plus$29.9/month
    • Invoice ACH debits
    • Recurring invoices
    • Invoicing API (500/month)
  • Mercury Pro$299/month
    • All Plus features
    • Relationship manager
    • Free ACH invoice debits

Which should you pick?

Choose Happay if

  • You need gst-aware capture.
  • You work on Web, iOS, Android.
  • You also want corporate cards.
Happay review

Choose Mercury if

  • You need business checking.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want savings accounts.
Mercury review

Questions people ask

Is Happay or Mercury better?
Neither clearly leads. Happay starts at On request and Mercury at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Happay or Mercury?
Mercury has a free tier; the other does not. Paid plans start at On request for Happay and Free for Mercury.
Does Happay or Mercury run on more platforms?
Happay runs on Web, iOS, Android. Mercury runs on Web, Ios, Android.
Can I use Mercury for free?
Yes. Mercury has a free tier, so you can try it without paying. Happay starts at On request.
What is Happay best used for?
Happay is most often used for an indian enterprise needing gst input credit fields captured at the point of expense submission, a company with field sales staff needing rupee prepaid cards with merchant category limits, a finance team replacing a spreadsheet-and-email cash advance process with a tracked workflow, an indian group wanting travel booking and expense from one supplier with domestic content depth. Of those, an indian enterprise needing gst input credit fields captured at the point of expense submission and a company with field sales staff needing rupee prepaid cards with merchant category limits are not what Mercury is typically brought in for.
What can Happay do that Mercury cannot?
Happay covers GST-aware capture, Corporate cards, Self-booking travel, Cash advances. Mercury covers Business checking, Savings accounts, Virtual cards, Team management.

Answered from the vendors’ own pages

Happay: Who owns Happay now?

MakeMyTrip. It agreed in November 2024 to acquire the expense management platform, brand and team from CRED, which had bought Happay in 2021.

Mercury: Is Mercury business banking free?

Mercury's base banking tier is free and includes ACH payments, domestic wire transfers, real-time payments, Bill Pay, and QuickBooks/Xero automations at no monthly cost.

Source
Happay: Can it be used outside India?

It books international travel for Indian entities, but the expense and card sides are built for Indian tax and banking and do not serve foreign entities well.

Mercury: What does Mercury Plus add beyond the free tier?

Mercury Plus costs $29.90 per month and adds invoice ACH debits, recurring invoice capabilities, invoicing API with 500 calls per month, unlimited 1099 filings, and access to partner benefits.

Source
Happay: Does Happay issue its own cards?

It issues cards through partner banks rather than under its own banking licence, so card terms follow the partner.

Mercury: Does Mercury charge monthly account fees?

No, Mercury states there are no minimum account balance requirements, overdraft fees, required monthly fees, or account opening fees. The free tier includes essential business banking, with paid tiers available for additional features.

Source
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