PaisaGate has launched an expense tracking utility service that helps its users save more of their income by letting them take control of their expenses. The service lets users perform basic money management tasks such as setting budgets and tracking everyday expenses simply using their mobile phones. The service sends out daily summary reports by SMS which provide information about user?s total expenses till date and also the balance amount left in the user?s spending budget.
PaisaGate expense tracking utility is very unique as it supports 2-way interactive service using SMS ? which enables the service to be accessed by large number of basic mobile phone users in India. PaisaGate also provides mobile expense tracker software for java-enabled phones and supports iPhone via customized iPhone web application.
Mobile phones have moved beyond their basic role of voice communications and have become the primary device for information exchange and value added services (VAS). Global research company Frost & Sullivan is expecting the mobile VAS market in India to experience strong growth, especially after the proliferation of 3G networks. PaisaGate?s innovative offering, affordable pricing and the increasing market acceptance for VAS make the service well positioned to reach out to a large number of mobile phone users.
“Budgeting is the first step to increase one?s financial net worth. The PaisaGate mobile expense tracking service brings an efficient budgeting and expense tracking tool right into the hands of our users? says Ranga Bakthavathsalam, founder of PaisaGate. ?Users can now make smarter spending decisions by getting daily updates on expenses till date and the balance amount left in their spending budget. This puts our users in control of their money instead of it being the other way around?.
Users can register for the service by sending SMS ?PAISA? to 09600024000 or by visiting online at http://www.paisagate.com.
When users register with PaisaGate, they are provided with a 30-day free trial account which lets users try the service before they take on the subscription. Subscription packages start at Rs.149 for 6-months. PaisaGate recommends that as a first step, users set an overall monthly budget for their expenses. To set a budget of Rs.14000, users can SMS ?budget 14000? to 09600024000. As the user incurs expenses they can track these expenses using an SMS (e.g. send SMS ?Lunch 80, Petrol 200? to 09600024000) or use PaisaGate?s mobile application if you have the GPRS service enabled on your mobile. The service automatically categorizes the incoming entries, sends out daily summary reports and also sends out SMS alerts when users exceeds the set budget.
Besides helping individuals with budgeting and tracking their expenses, the service also enables a group of members (e.g. a team, household, small business) to track their expenses in a centralized account, making it much easier to budget and analyze their various expenses.