Software Alternatives, Accelerators & Startups

Business Banking APIs by Decentro VS Mercury

Compare Business Banking APIs by Decentro VS Mercury and see what are their differences

Business Banking APIs by Decentro logo Business Banking APIs by Decentro

Perform any banking functions on top of corporate accounts

Mercury logo Mercury

Mercury is banking* for startups
  • Business Banking APIs by Decentro Landing page
    Landing page //
    2023-02-06

Business Banking APIs empower any aggregator, platform, neobank, or marketplace to easily perform banking functions on top of their existing corporate accounts or enable the same for their customers. This integration is one of the first in the ‘Business Banking as a Service (BaaS)’ category in India, making Decentro one of the category’s forerunners. We have gone live with ICICI Bank as the first partner bank and will be adding many more in the coming months.

** Round-the-clock uninterrupted money transfer: The Bank customers can transact bulk funds easily, even on bank holidays, just by linking their business account with Decentro. ** Adding Beneficiaries, hassle-free: Decentro’s Payouts enables customers to add beneficiaries instantly and transfer funds at once, minus any cooling period or account activation. ** Automated & full-reconciled collections: Easily generate virtual accounts & UPI IDs dynamically on top of existing accounts for buyers, SMEs, and merchants. ** Cashflow management & automated payouts: Bank customers can integrate their dashboard or ERP with Decentro’s Payouts via the partner banks to activate payments. Ergo, users no longer will be caught in the endless loop of ERP & banking apps for payments.

  • Mercury Landing page
    Landing page //
    2023-06-17

Mercury offers banking* for startups — at any size or stage. With an intuitive product experience, founders can access free checking and savings accounts, debit and credit cards, domestic and international wire transfers, Treasury, venture debt, and more — and manage their business with confidence. Mercury also offers vibrant community programs that provide founders with the connections, advice, and resources to help them build the next great companies. Launched in 2019, Mercury is trusted by more than 100,000 startups. To learn more, visit Mercury.com.

*Mercury is a financial technology company, not a bank. All banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

Business Banking APIs by Decentro

Pricing URL
-
$ Details
-
Platforms
-
Release Date
2021 February

Mercury

$ Details
free
Platforms
Web iOS Android
Release Date
2019 April

Business Banking APIs by Decentro features and specs

  • Comprehensive API suite
    Decentro offers a wide range of APIs that cover various business banking needs like account creation, payment processing, and KYC verification, providing a one-stop solution for banking integration.
  • Ease of integration
    The APIs are designed to be developer-friendly, with thorough documentation and sandbox environments available for testing, making the integration process smoother and faster.
  • Regulatory compliance
    Decentro ensures that all their APIs comply with local regulatory standards, reducing the legal risk for businesses adopting their solutions.
  • Scalability
    The platform is built to handle a large number of transactions and users, making it suitable for both startups and large enterprises.
  • Customer support
    Decentro provides 24/7 customer support to assist with any issues or questions, ensuring a smooth experience for businesses.

Possible disadvantages of Business Banking APIs by Decentro

  • Pricing transparency
    The pricing models for Decentro's APIs are not fully transparent upfront, which can make it difficult for businesses to estimate costs accurately before fully committing.
  • Limited geographical coverage
    As a relatively new player in the market, Decentro’s services may be limited to certain regions, potentially restricting its usability for global businesses.
  • Dependency on third-party services
    The functionality of some APIs could be dependent on third-party services, which may introduce additional points of failure or latency.
  • Initial setup complexity
    While the integration is designed to be straightforward, the initial setup can still be complex and may require technical expertise, especially for businesses with less experienced development teams.
  • Customization limitations
    Though Decentro offers a comprehensive API suite, there might be limited options for customization, which could be a constraint for businesses with unique or specific needs.

Mercury features and specs

  • Ease of Use
    Mercury offers a user-friendly interface that simplifies banking for startups and small businesses, making it easy to manage accounts, transfer funds, and monitor transactions.
  • No Monthly Fees
    Mercury does not charge monthly fees or require minimum balances, which is beneficial for new businesses trying to manage their finances effectively.
  • Automated Bookkeeping
    Mercury provides integrated bookkeeping tools, facilitating accounting processes by automatically syncing transactions with popular accounting software like QuickBooks and Xero.
  • FDIC Insured
    Mercury accounts are FDIC-insured up to $250,000 through its partner banks, providing peace of mind regarding the safety of your deposits.
  • Multiple User Accounts
    The platform allows multiple user accounts with customizable permissions, making it easier for teams to collaborate on financial management securely.

Possible disadvantages of Mercury

  • Limited Physical Presence
    Mercury operates entirely online, which can be a drawback for businesses that prefer or require in-person banking services.
  • No Cash Deposits
    Mercury does not support cash deposits, which can be inconvenient for businesses that deal with a significant amount of cash transactions.
  • Limited Lending Options
    Mercury offers fewer lending products compared to traditional banks, which might be a limitation for businesses seeking comprehensive financing solutions.
  • Customer Service
    While often responsive, customer service is primarily conducted through online channels, which some users may find less satisfactory compared to face-to-face interactions.
  • No International Wire Transfers
    Mercury does not support international wire transfers, which can be a significant limitation for businesses operating globally.

Analysis of Business Banking APIs by Decentro

Overall verdict

  • Decentro's Business Banking APIs are a solid choice for businesses looking to streamline their banking operations. They are particularly appealing due to their extensive feature set, ease of integration, and reliable support.

Why this product is good

  • Decentro's Business Banking APIs are designed to simplify banking operations by offering a range of services such as account creation, transactions, and reconciliation. They provide robust integrations, support multiple banking features, and are known for their ease of use and comprehensive documentation. Additionally, Decentro focuses on security and compliance, ensuring that their APIs meet industry standards. Their platform allows for seamless integration with existing systems, reducing the time and effort required for businesses to manage their financial operations.

Recommended for

    These APIs are well-suited for businesses of all sizes seeking to automate and improve their banking processes, fintech companies looking for reliable banking solutions, and developers in need of comprehensive and flexible banking integrations.

Analysis of Mercury

Overall verdict

  • Mercury is generally considered a good option for startups and tech companies that want a hassle-free banking solution with modern digital tools. It is particularly beneficial for those seeking an online-focused bank with no hidden fees.

Why this product is good

  • Mercury is an online bank that is designed specifically for startups and tech companies. They offer a range of features that cater to the needs of small businesses, such as seamless integration with accounting software, no monthly fees, and no minimum balance requirements. Additionally, Mercury provides a user-friendly digital interface, allowing entrepreneurs to manage their finances with ease. Their customer service is often praised for being responsive and helpful.

Recommended for

  • Startups
  • Tech companies
  • Small businesses looking for digital banking solutions
  • Entrepreneurs wanting a no-fee account

Business Banking APIs by Decentro videos

Business Banking APIs by Decentro

Mercury videos

Mercury Movie Review - Prabhu Deva, Karthik Subburaj - Tamil Talkies

More videos:

  • Review - Mercury review by Prashanth
  • Review - Mercury 150 Four Stroke Review Performance Reliability One Year Later - Florida Sport Fishing TV

Category Popularity

0-100% (relative to Business Banking APIs by Decentro and Mercury)
APIs
100 100%
0% 0
Online Payments
24 24%
76% 76
Fintech
36 36%
64% 64
Money Transfer
0 0%
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Business Banking APIs by Decentro and Mercury

Business Banking APIs by Decentro Reviews

We have no reviews of Business Banking APIs by Decentro yet.
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Mercury Reviews

  1. Veeresh G T
    · Founder at Vepapu ·
    The best for Non-Residents

    The best in the market for helping US non-residents get a checking bank account for their US companies. Mercury's secure experience takes founders to another level in their global journey.

    🏁 Competitors: Vepapu
    👍 Pros:    Free pricing|Place for non-residents

Social recommendations and mentions

Based on our record, Mercury seems to be more popular. It has been mentiond 36 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Business Banking APIs by Decentro mentions (0)

We have not tracked any mentions of Business Banking APIs by Decentro yet. Tracking of Business Banking APIs by Decentro recommendations started around Mar 2021.

Mercury mentions (36)

  • Sonos CEO Patrick Spence steps down after app update debacle
    Interestingly, Mercury [0] is VC-backed, and their backend is entirely Haskell. In an interview [1], their CTO mentions that it’s actually quite easy to hire for Haskell, as the demand is much lower than the supply, and, as he slyly puts it, “interest in Haskell acts as a decent proxy for baseline developer quality.” So while the pool is larger for JS/TS and Python, that may not always be beneficial. [0]:... - Source: Hacker News / 5 months ago
  • Haskell vs. Ada vs. C++ vs. an Experiment in Software Prototyping Productivity [pdf]
    I work on one of the largest Haskell codebases in the world that I know of (https://mercury.com/). We're in the ballpark of 1.5 million lines of proprietary code built and deployed as effectively a single executable, and of course if you included open source libraries and stuff that we have built or depend on, it would be larger. I can't really speak to your problem domain, but I feel like we do a lot with what we... - Source: Hacker News / 6 months ago
  • Privacy/secruity experience with RBFCU? (Randolph Brooks Credit Union)
    Not just a fintech front for a privacy dis-respecting bank (like Mercury business banking for example). Source: over 1 year ago
  • The Meaning of Monad in MonadTrans
    Mercury (https://mercury.com/) uses Haskell extensively for pretty much all of its backend systems. It’s a great general purpose language. - Source: Hacker News / almost 2 years ago
  • Wise or Payoneer?
    He claims it's totally legal https://mercury.com/. Source: almost 2 years ago
View more

What are some alternatives?

When comparing Business Banking APIs by Decentro and Mercury, you can also consider the following products

Signzy - Signzy provides Digital Onboarding, identity verification, eSign & Contracting - Platforms & APIs to help businesses meet KYC, KYB AML regulations in Banking, Insurances, Financial services , Automobile, Payments, etc

Brex - The first corporate card for startups

Surepass.io - End-to-End user OnBoarding & Digital Identity Verification solutions for Enterprises | Digital KYC | Background Verification | Banking

Wise - Currency exchange Banks and other providers could charge you up to 5% in hidden costs when sending ...

Digitap Employment Verification Suite - An easy-to-use employment verification suite for banks, NBFCs, fintech, HRTech, HealthTech, Real estate agents etc.100% accurate BGV with data from Govt sources.

PENTA - A free and beautiful business bank account in Germany 😍🇩🇪