Looks like Times Internet Limited (TIL) is planning to launch an expense management app called SmartSpends, which will provide users with a know how on where they have spent money, will organise all spends in one place and alerts for bills etc. The app, currently available for beta invite, will categorise the user’s spends, late fee and interest charges free, personalised offers, best card to use for every spend and share your insights socially.
It will support Android versions above 4.0 (no iOS app as of now). It basically appears like a cross between similar money management apps Expensify and MoneyWise, which give weekly and monthly spend patterns and summaries; add, edit and pay bills and provide cash management. We’ve written to Times Internet to learn more about SmartSpends and about a possible launch date, and will update once we hear back.
The company claims that the app will be free, won’t access your bank accounts, read only transaction SMSes (not all), and save the last 4 digits of your credit/debit cards. Transactions may not get recorded for banks it does not yet support but it says that if you wrote to them, they might consider your bank.
TIL claims that it has above 10 crore users across its online properties like TimesofIndia.com, EconomicTimes.com, Indiatimes.com, Gaana.com and Magicbricks.com among others.
Times Internet’s recent developments:
– Last week, Times Internet owned music streaming service Gaana.com had been hacked, however it looked like no financial or personal data besides Gaanga login details were compromised. Times Internet CEO Satyan Gajwani took to Twitter to acknowledge that a breach had taken place and stated the measures they’ve taken to rectify the situation.
– Last month, Times Internet signed a deal with Perform Group‘s football portal Goal to bring worldwide content to India. Under the strategic deal, Times Internet would have exclusive rights to the Goal brand in India and would drive local commercialization of Goal across both desktop and mobile.
– In April, Times Internet, along with Cleartrip, NDTV and NewsHunt, who had signed on as partners with Facebook’s initiative, announced their support for net neutrality and appealed to other Internet companies to do the same.