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Accounting · head to head

Lago vs Mercury

Lago logo

Lago

Accounting

Open-source billing infrastructure for usage-based models

From
Free
Rated
-
Full reviewWebsite
Mercury logo

Mercury

Accounting

Banking for startups

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Lago free tier limited to 10,000 entities per month with 5M event cap; Mercury treasury access requires a $250,000 balance held with Mercury
  • They diverge on capability: Lago covers Real-time usage metering, Mercury covers Business checking.

Where they differ

Only the attributes on which Lago and Mercury actually diverge.

Attributes where Lago and Mercury differ
AttributeLagoMercury
Pricing modelFreemium with optional paid tiersfreemium
PlatformsWeb, Cloud, Self-hosted, On-premise, VPCWeb, Ios, Android
FoundedUnknown2019

Identical on both: starting price (Free), free tier (Yes), 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 Lago

  • Real-time usage metering
  • Multiple pricing models
  • Automated invoicing
  • Prepaid credits
  • Entitlements
  • Multi-currency support
  • Payment orchestration
  • Revenue 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.

Lago

  • Building usage-based billing for high-volume APIs and infrastructurenot Mercury
  • Implementing metered billing for AI and tokenized servicesnot Mercury
  • Creating subscription and hybrid pricing modelsnot Mercury
  • Managing multi-currency billing for global companiesnot Mercury
  • Maintaining billing infrastructure without vendor lock-innot Mercury

Mercury

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

Where each one falls short

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

Lago

  • Free tier limited to 10,000 entities per month with 5M event cap
  • No specific pricing published for Pro annual plan or Scale plan
  • Self-hosted and on-premise deployments require engineering resources
  • Community support only on free tier
  • Scale plan requires annual contracts and sales engagement

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

Lago

Free
  • Build (Free)Free
    • 10,000 managed entities per month
    • 5M usage events per month
    • 1K events per second rate limit
  • Pro$399/month
    • 10,000 entities included (graduated pricing to 100K)
    • 25M usage events included (to 500M with graduated rates)
    • 10K events per second (upgradeable to 100K)
  • Scale$null/custom
    • Custom entity and event volumes
    • 50K events per second (upgradeable to 100K)
    • RBAC and SSO (SAML)

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 Lago if

  • You need real-time usage metering.
  • You want to start without paying.
  • You work on Web, Cloud, Self-hosted, On-premise, VPC.
  • You also want multiple pricing models.
Lago 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 Lago or Mercury better?
Neither clearly leads. Lago starts at Free and Mercury at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Lago or Mercury?
Lago starts at Free and Mercury at Free.
Does Lago or Mercury run on more platforms?
Lago runs on Web, Cloud, Self-hosted, On-premise, VPC. Mercury runs on Web, Ios, Android.
Can I use Lago for free?
Both have a free tier, so you can try either at no cost before committing.
What is Lago best used for?
Lago is most often used for building usage-based billing for high-volume apis and infrastructure, implementing metered billing for ai and tokenized services, creating subscription and hybrid pricing models, managing multi-currency billing for global companies. Of those, building usage-based billing for high-volume apis and infrastructure and implementing metered billing for ai and tokenized services are not what Mercury is typically brought in for.
What can Lago do that Mercury cannot?
Lago covers Real-time usage metering, Multiple pricing models, Automated invoicing, Prepaid credits. Mercury covers Business checking, Savings accounts, Virtual cards, Team management.

Answered from the vendors’ own pages

Lago: Can I use Lago open-source for free?

Yes, Lago is open-source under the AGPLv3 license and can be self-hosted. The cloud-based Build plan is also free with limits of 10,000 entities and 5M events per month.

Source
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
Lago: What payment providers does Lago integrate with?

Lago integrates with Stripe and Adyen for payment processing. It is not a payment processor itself but orchestrates payments through these providers.

Source
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
Lago: Does Lago support multiple currencies?

Yes, Lago supports multi-currency billing with automatic currency conversion for global businesses.

Source
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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