10 good reasons why choosing Solo Expenses and BHIM UPI Together22 January, 2019 12:09 pm
Cash used to be king, but it’s in the process of being toppled from its throne by the power and ease of doing business with technology. Gone would be the need for coins or paper money to back up the promise inherent in currency which is getting well, less current…
Let’s face it, if you were to start from scratch in designing a system to pay for goods and services, it’s unlikely that in this day and age you’d come up with a ‘voucher’ system, called cash, using pieces of paper and metal tokens with which to do transactions.
With cash would come the time-consuming business of counting it, recording it, and carrying it to the bank, where it’s counted again, recorded again, and stored in a vault for safe keeping, all soaking up time you could be spending on more rewarding or profitable activities.
That’s why the world developed ways of doing business based on trust, manipulating columns of numbers to represent value. And that worked fine for all but the tiniest transactions; a portion of street food, a hot drink, or a newspaper, for example.
Cutting edge technology
But now even those humble purchases are within the scope of technology, and Solo Expenses is at the cutting edge of sharing it with the world.
Less than two years after Prime Minister Narendra Modi introduced the mobile application called BHIM, the Bharat Interface for Money, we have partnered with Yes Bank to streamline those tiny transactions to make life easier for you through a UPI, or Universal Payment Interface. And here are ten good reasons that you should seriously consider switching to use it.
- Easy to use. Buy something, record the payment on your expenses, and use the direct UPI link to your bank (which updates your account) through the Solo Expenses dashboard in one simple step
- The BHIM app is activated by the user’s fingerprint
- The app has been developed by the National Payments Corporation of India, and it’s built on the Unified Payment Interface, or UPI
- Lots of banks use it, but by choosing Yes Bank, you can bring its benefits together with our online expense management software
- Neither banks nor merchants apply fees to transactions
- Internet banking doesn’t have to be set up; all you need to do is register a phone number with your bank
- You can check your bank balance instantly
- You can use BHIM 24/7
- Ground-breaking. No other expense management system for small business has yet partnered with a bank in the way Solo Expenses has done
- Nationwide. Broadband access is spreading throughout India, bringing a wider and wider audience within reach of this technology
10 reasons to use Solo Expenses
- Flexible. Pay for only what you use, and choose that through our simple to use dashboard
- Instant. Record expenses at the point of sale
- Accurate. Using our online expense management software eliminates processing errors
- Seamless. Link credit cards to our system, so employees’ money doesn’t get entangled with the company’s
- Free for ever. We’ll never charge you for some of our features. Ever. Seriously. (and you’ll probably save more than we change when you use other features, too)
- Scalable. Pay us on a ‘per employee per month basis’ with no long-term contract
- Bespoke. Create categories that suit your business (or use our pre-set ones). Delete them when you’re done
- Universal. Operates in any currency, and converts one to another for you
- Fraud fighter. Eliminates the temptation for ‘creating writing’ when claiming expenses
- Fast. Claim, approve, and reimburse expenses anytime, anywhere – so log as you have a WiFi connection