As more and more people adopt crypto, the need for a way to buy goods and pay bills with it where it’s not accepted as tender has increased. Dealing with both crypto and fiat currency can be a real headache, and switching between the two for a simple payment is slow and annoying.
Request Finance is a blockchain-based platform designed to make managing your crypto and fiat transactions efficient and seamless. It’s positioned itself as an all-in-one financial control panel – a place where you can handle invoicing, payments, expense tracking, and more, all within a single platform.
In this review of Request Finance, we delve into its features, weigh the benefits and potential drawbacks, and examine how it’s used in practice.
Our goal is to give you the information you require to decide if Request Finance can help simplify your financial life and enhance your ability to transact in both crypto and fiat.
Request Finance’s Features
With over 2,150 organizations using the platform and processing more than USD 700 million in payments, Request Finance has clearly captured a significant share of the market. It has numerous features that we liked, and below is a summary of those we found most useful:
Invoicing and payments
Request Finance’s invoicing and payments solution caters to a wide range of currencies, including over 350 cryptocurrencies across 18 blockchains. Coupled with this capacity, it supports more than 20 fiat currencies. The platform’s support of such wide-ranging payment methods allows businesses and individuals to conduct transactions smoothly with clients who don’t accept crypto.
We tested the platform and found it easy to create invoices for different currencies and to settle bills in fiat using crypto. We thought having an invoice preview function would be helpful, but we were impressed with how simple it was to manage invoices in a multi-currency environment.
Expense tracking and automation
The platform made calculating our expenses way less of a hassle with its tracking and automation tools. You can easily snap pictures of receipts, submit expenses on the go, and set up approval processes that fit your team’s way of working. This simplifies and expedites expense management and eliminates the need for manual data entry.
Although the platform lacked the capability to connect to our more specialized accounting setups, we found the core expense tracking features solid and user-friendly.
Payroll solutions
Request Finance can also handle your payroll, whether you’re paying out in crypto or fiat. The platform supports bulk payroll payments, and although we didn’t test this feature, we thought it would be useful for those with large teams.
You can add up to 10,000 employees through a CSV upload or add them manually for smaller teams. While setting up and using a new payroll system will always involve some teething problems, Request Finance’s system seemed a worthy alternative to traditional payroll options.
Simplified accounting
Request Finance tackles accounting in three steps: import, categorize, and upload journal entries, saving time and headaches when bookkeeping. The platform integrates and plays nicely with popular accounting software, although those with more complex software may not be able to connect.
The platform offers users access to its comprehensive Crypto Accounting Academy, a learning hub aimed at CFOs, tax managers, and accountants.
What Is Request Finance Pricing?
Request Finance offers a flexible pricing structure depending on your needs:
- Free: Ideal for freelancers or businesses with very few outgoing, this plan has unlimited incoming payments but limits outgoing payments to one per month.
- Starter: For those processing up to USD 20,000 in monthly payments, this plan costs USD 100/month.
- Growth: Designed for businesses with up to USD 100,000 in monthly payment volume, this tier costs USD 380/month.
- Pro: This plan caters to larger operations, processing up to USD 400,000 in monthly payments and costs USD 900/month.
All plans come with a 30-day free trial, allowing you to fully test the platform before committing.
Request Finance’s Ease of Use and Functionality
We found the Request Finance features we tested to be easy to use, and the platform was intuitive and simple to navigate. We thought both individuals and companies would find the platform helpful when managing invoices in crypto and fiat, especially those operating in different currencies.
However, we discovered some user experience problems. The web interface occasionally became unresponsive, and the mobile app currently has less functionality than its web counterpart.
Additionally, some users may take some time to familiarize themselves with the platform, but once you do, using it becomes straightforward. Also, while the initial setup process requires filling out various fields, we believe some of this information may not be essential for everyone.
Conclusion
Request Finance is definitely a worthy contender in the growing landscape of crypto-capable payment platforms. Its comprehensive suite of features under a single, user-friendly interface makes invoice creation and payment processing a breeze.
Its generous free plan and subsequent paid tiers make it suitable for all who work in a multi-currency environment. Despite the minor user experience issues we encountered, we still believe it should be considered if you’re looking for such a payment solution.
