Nexto vs Hamyar

Hamyar hands over the database file but not its password. In practice you have no database: it opens in no other software, and on a bad day you can't restore it or pull your records out yourself. Its only use is going back to Hamyar. In Nexto the full backup is downloadable and every table exports.

Hamyar's interface is a fixed desktop page that merely shrinks on a phone; you can neither read a report nor post a document. Nexto was designed for the phone from the start.

In Hamyar rates live in a manual “default rates” table; the automatic source isn't something you can rely on in practice. Nexto takes live rates from its own API, and you can enter manual rates whenever you like.

In Hamyar, for every trade without the reference currency on one side, you must pick that currency's rate to reference yourself. Many exchanges have learned that in busy hours the operator types any number to get past the error, and from then on profit figures are worthless; the manager ends up computing the day's profit by hand from balance differences — laborious, error-prone and without detail. Nexto builds the reference rate itself via cross anchoring, so every trade's profit is correct the moment it's posted.

With the “pay on our behalf” and “remittance request” forms you can route rials to a degree, but when a customer deposits more than due or a payment is cancelled, the problems surface — enough that many give up on in-app routing and go back to Excel. Nexto solved rial routing as a complete module, overpayments and cancellations included.

In Hamyar any document is edited in place — it keeps a change history and recomputes average cost, but has no correcting document. Change one old document and the balances you checked and confirmed with the customer many times all shift. Nexto has reversals and correcting documents, and the log says exactly what changed from what to what.

Hamyar allows up to 5 users and one connected WhatsApp. Nexto offers up to unlimited users and several WhatsApp lines depending on plan.

Hamyar has a single perpetual option: AED 10,000 plus AED 1,500 yearly support. Nexto starts at $29 a month and offers larger exchanges a lifetime licence on their own server.

Hamyar has solid basic reports (general ledger, P&L, trial balance, debtors) but, for example, no single list of all transfers. Nexto adds operational reports (open items, receipt verification, customer stats, WhatsApp sends) and automatic night reports.

We found no public training for Hamyar. Nexto has a video course, documentation and dedicated help on every page.

Hamyar registers cheques and tracks their location, but has no Sayad steps. Nexto has the Sayad steps and inquiry inside the same flow.

Hamyar has Kanban and document-management modules. Nexto instead has “Tasks” (multi-assignee with comments) and attachments on every document — simpler, no separate board.

Hamyar has modules for businesses other than exchanges. Nexto is deliberately exchange-only.

Hamyar has a customer app with these services. Nexto focuses on the no-login portal and WhatsApp cards.

Hamyar has a separate form for a few remittance types, with structured identity and bank fields. Nexto deliberately went another way: remittance types are endless (SEPA in Europe, US and UK with routing numbers instead of SWIFT, Alipay and WeChat Pay, PayPal, Western Union, MoneyGram, Zelle and more), each with its own fields; a form per type never gets complete and confuses users — Hamyar doesn't have most of them either. In Nexto every remittance is one "payment commitment" with notes and attachments, linked to deposit requests and staged payments.

Hamyar has a couple of small gold forms. For an exchange office, gold as a currency (which Nexto has too) is enough; for a jeweller, these forms are nowhere near enough. Nexto deliberately leaves out these rarely used forms and builds the jewellery business in its own separate product, complete and from the jeweller's point of view.