How Hnry uses BPAY APIs to help the self-employed manage their finances

- By Collaborative Media & Publishing
Invoicing and tax calculation app Hnry has made strong inroads in Australia and recently added BPAY payment APIs to increase its appeal to small businesses.
Founder James Fuller describes Hnry as “a pay-as-you-go service that provides everything that a self-employed person needs to run their business”.
This includes software for invoicing and quotes; unlimited access to Hnry’s accounting service for tax returns and BAS; a bank account to get paid into; and the automatic calculation and deduction of tax and superannuation contributions.
Knowing how much tax to deduct and having the discipline to contribute to superannuation are major difficulties for the self-employed, which Hnry helps them overcome.
The business was born about five years ago in New Zealand, when Fuller became frustrated about how labour-intensive being self-employed was, particularly in knowing how much tax he should deduct and put aside.
“My income was fluctuating and just having a hard and fast rule to put away this percentage seemed mad,” he said. “I didn't know how much money was mine, and how much the tax was. It was just a very uncertain way of being,” said Fuller.
He and his co-founder were contracting before they started Hnry, and had built some spreadsheets to help calculate their tax. When their self-employed friends heard about the spreadsheets they also wanted to use them, and Hnry was born.
“The idea was how can we help people get back to doing what they enjoy doing, and not having to worry about financial admin,” Fuller says.
Paying the correct amount of tax
The app brings together multiple data sources including the user's income and their earnings history to ensure that they are paying the correct amount of tax.
“Anytime you earn into a Hnry bank account, we will deduct and pay exactly the right amount and send that immediately to the ATO. We don't hold on to money,” Fuller said. “The idea is that you're always up to date so that you never have to worry about any surprises when it comes to tax time or the end of financial year. It's all just taken care of.”
Users’ earnings are paid into their Hnry bank accounts, which are provided by either NAB or Cuscal, and funds can then automatically be paid to the users' own bank accounts or other locations.

Hnry opened in Australia in March 2020 and has several thousand users after recording 30%-plus month-on-month growth.
The app recently incorporated the Validate BPAY Payment API and the Generate BPAY Batch File API.
“BPAY is something that our customers have been asking about for quite a while, and mostly it's because a lot of the services that they'd like to use prefer to be paid by BPAY. So those might be superannuation contributions or they might be utility bill payments,” Fuller said.
“Being able to provide BPAY to our customers gives them more flexibility when setting up those financial plans. So when they get paid they can make those superannuation contributions, pay into their investment apps, and take care of their financial future, which is something which independent earners are notoriously slack at doing,” he adds.
‘Fantastic’ reception from users
Users go into the Hnry app to set up their superannuation contributions or bill payments. They enter in the BPAY Biller Code and their unique Customer Reference Number and they determine how much they want to contribute to the bill as a percentage. They can also set several customised options such as bill payment caps and weekly frequencies.
Then every time they receive a payment into their Hnry bank account, the bill deductions and payments such as super contributions are automatically made.
“When you're a self-employed individual, you're not always guaranteed a set level of income. So a lot of traditional banking payments tend to be set up with paying a set amount on a set date each month. Being able to pay a percentage amount whenever you get paid and manage that all in one place from Hnry is a real value-add for our customers,” Fuller said.
“The rollout has had a fantastic reception from across our user base,” he added.

Learn more about BPAY Group’s Developer Portal and BPAY APIs here.

Published by BPAY Pty Ltd (ABN 69 079 137 518) email: The BPAY Scheme is managed by BPAY Pty Limited.  When you use BPAY payment products, the BPAY Scheme is paid fees relating to processing costs and BPAY Scheme membership.  Contact your financial institution to see if it offers BPAY payment products and to get the Product Disclosure Statement.  Any financial product advice provided by BPAY Pty Limited in relation to BPAY payment products is general advice only and has been prepared without taking into account your objectives, financial situation or needs.  Before acting on such advice, you should review the Product Disclosure.

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