Will Parpera provide Business Accounts?

Hi,

What will be the fee structure like for Business accounts and will they allow different currencies?

Also, in the section Business Strategy, it outlines Parpera as more of a Saas than a banking business, will parpera provide users with an Australian Business Bank Account?

Kind regards,

Filipe Teles

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Hey @filipeteles,

Thanks for your message and I appreciate you reading our offer document!

In summary, yes, business accounts will be at the core of Parpera :slight_smile:

Multi-currency wallets and cards are on our product roadmap - we’re often told by our community that enabling the ability to pay and receive money, globally, is important to them and would help improve the way they do business. And personally, I believe that way we do business is now borderless and our financial services providers need to do a better job of supporting / enabling this.

Parpera will be offered on a subscription basis. We’ve currently listed $15 and $25 per month as our 2 tiers in the offer document, to support our financial forecast modelling. However, we will test this with our community and continue to refine the different features and pricing packages available. The intent is to be clear, fair and transparent on our fees so that we can build a sustainable business while delivering you with value and a high quality offering.

We say we’re less Bank-like because we’re not an Authorised Deposit Taking institution (a Bank), which primarily focus on taking in money (in the form of deposits) and lend out money (in the form of loans) to make money. This represents the traditional banking model, and in our view, is not aligned with the best interests of a business owner, who is seeking to run and grow their business - this often does not require you to borrow money, which is what the Banks focus on to drive profit.
We are more SaaS like as we charge a subscription fee and are focused on technology and innovation to address the key problems we all face in managing money for our businesses and our lives.

We’ll be integrating with trusted and established infrastructure providers to provide the business account (wallet), card and money management capabilities to deliver on the features we’ve outlined in the offer document and over time will announce new partnerships that will support the delivery of key capabilities and our marketplace offering.

We will soon begin to share more on this and our product development process and are excited to increase your and the community’s involvement in progressing the design and build of our proposition.

I hope this was helpful - please feel free to let us know if you have any further questions.

All the best,
Daniel

Hi @Daniel,

Thanks for the fast and through response.

Nice the idea of not focusing on burrowing, as I am myself alergic to debt (Althought debt can be a good tool) haha.

It would be a nice if there was a light tier for small business and solo traders, cheaper than the $10 that traditional banks charge. Charging more than that might be really worth for business that are already running, with some revenue, and will take advantages of the extr features, but for someone starting, with little to no revenue and even at a loss, paying more than what traditional banks charge doesn’t make a lot of sense, regardless of how good those tools may be.

Lastly, out of curiosity, will there be anything related to crypto currencies or block chain on the project?

Kind regards,

Filipe

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Hi @filipeteles,

Apologies for the delayed response, we’ve been positively busy with the fundraise! :slight_smile:

I appreciate your feedback on the subscription tiers. We’re open to refining our subscription model as we get closer to launching and will work with and test it with our community too - I look forward to hearing your thoughts on it when the time comes.

Initially, we won’t be catering for cryptocurrencies. However, we will consider it in line with our evolving member needs. While crypto-currencies and blockchain have been around for a while, it’s still a little too-early for Australian business use cases, as the necessary infrastructure / ecosystmem to support wider adoption is still maturing locally.

Do you use crypto for your business? If so, how / what for?

All the best,
Daniel

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No worries, times are crazy, we all busy!

I don’t currently use Crypto, but would be interesting to be paid for gigs using Bitcoin, on the same business account. Nice to know it’s in the plans, as it’s not a feature I’d need right now.

But lower tiers of subscriptions are fundamental, one of the main reasons I’m excited about Parpera is the ability to have an Australian Business account, with a lower liability/cost than the traditional 4 big banks.

Keep up the good work!

Best regards,

Filipe

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Valid point.

Marketing around that price entry would be critical.

Then you make your premium margins on the plug ins within the app. “$4.95 to activate foreign currency” is a great example. MYOB sync $5.95 etc.

The rigid bronze, silver, gold need to be on a user option in.

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