Accounting · head to head
Kodo vs Mercury
Kodo
Accounting
Corporate cards and intake to pay for Indian businesses
- From
- On request
- Rated
- -
The short version
- Only Mercury has a free tier, so it costs nothing to try first.
- Each has a real cost: Kodo kodo is not a licensed issuer, so card limits, settlement cycles and eligibility come from a partner bank whose terms you do not directly control and which can change the programme.; Mercury treasury access requires a $250,000 balance held with Mercury
- They diverge on capability: Kodo covers Corporate cards, Mercury covers Business checking.
- Prices and features above were last checked on 1 September 2026.
Where they differ
Only the attributes on which Kodo and Mercury actually diverge.
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 Kodo
- Corporate cards
- Purchase requests
- Invoice capture and matching
- Vendor payouts
- GST and TDS handling
- ERP integration
- Approval workflows
- Spend 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.
Kodo
- An Indian startup replacing founder personal cards with issued cards carrying per employee limitsnot Mercury
- A finance team automating vendor payouts across NEFT, RTGS and UPI with maker checker approvalnot Mercury
- A company that needs GST compliant invoice coding flowing into Tally without rekeyingnot Mercury
- A business enforcing purchase requests and approvals before spend rather than reconciling it afterwardsnot Mercury
Mercury
- Business banking and payments for startupsnot Kodo
- Managing treasury, invoicing and corporate cards from one accountnot Kodo
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Kodo
- Kodo is not a licensed issuer, so card limits, settlement cycles and eligibility come from a partner bank whose terms you do not directly control and which can change the programme.
- Indian regulatory changes on prepaid instruments and card issuing partnerships have repeatedly disrupted fintech card programmes, so continuity risk is higher here than in equivalent European or United States products.
- Pricing is not published, so comparing Kodo against Happay, Zoho Expense or a bank corporate card requires a full sales cycle and disclosure of your spend volumes.
- Coverage is India only, so any group with overseas subsidiaries runs a second card and payables system and loses the consolidated view.
- The intake to pay workflow is lighter than a dedicated procurement suite, with limited contract management and supplier onboarding, so regulated or heavily audited buyers will find gaps.
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 $29.90 a month
Pricing, plan by plan
Kodo
On request- Kodo$undefined/year
- Quoted per customer, no published rate card
- Card limits and settlement terms set by the sponsoring partner bank
- Payout volumes and payment rails may carry per transaction charges
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 Kodo if
- You need corporate cards.
- You work on Web, iOS, Android.
- You also want purchase requests.
Choose Mercury if
- You need business checking.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want savings accounts.
Questions people ask
- Is Kodo or Mercury better?
- Neither clearly leads. Kodo 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, Kodo or Mercury?
- Mercury has a free tier; the other does not. Paid plans start at On request for Kodo and Free for Mercury.
- Does Kodo or Mercury run on more platforms?
- Kodo 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. Kodo starts at On request.
- What is Kodo best used for?
- Kodo is most often used for an indian startup replacing founder personal cards with issued cards carrying per employee limits, a finance team automating vendor payouts across neft, rtgs and upi with maker checker approval, a company that needs gst compliant invoice coding flowing into tally without rekeying, a business enforcing purchase requests and approvals before spend rather than reconciling it afterwards. Of those, an indian startup replacing founder personal cards with issued cards carrying per employee limits and a finance team automating vendor payouts across neft, rtgs and upi with maker checker approval are not what Mercury is typically brought in for.
- What can Kodo do that Mercury cannot?
- Kodo covers Corporate cards, Purchase requests, Invoice capture and matching, Vendor payouts. Mercury covers Business checking, Savings accounts, Virtual cards, Team management.
Answered from the vendors’ own pages
Kodo: Who actually issues the cards?
A partner bank under a card network arrangement, not Kodo. Ask which bank, whether the product is credit or prepaid, and what happens to your limits if the partnership changes.
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.
SourceKodo: Is pricing published?
No. Kodo quotes per customer, so benchmark against at least two Indian rivals before signing.
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.
SourceKodo: Does Kodo work outside India?
No meaningful coverage outside India for card issuing or payouts.
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.
SourceRelated pages
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