What is Parity in plain English?

Parity is a zero interest overdraft in a local currency.

What does local currency mean?

It can only be used by local, independent businesses in Birmingham.

What do I use this local currency overdraft for?

To buy from other businesses in the network.

How do I repay it?

You sell to other businesses in the network.

What’s the benefit of the overdraft?

It supports your cashflow, you can make purchases without pounds.

What’s the benefit of the network?

It gives you a new local market for your business.

Where has this worked before?

It’s been working in Sardex, Italy since 2008 and WIR, Switzerland since 1934.

How do I make payments in Parity?

Payments are made through our mobile apps or desktop platform. They are free and instant.

Do I have to buy the local currency before using it?

No, you do not need to buy the local currency. You use the overdraft for purchases.

What’s the value of the local currency?

It’s always equal to pound sterling so not a speculative asset.

Can I just sell through Parity?

Selling generates additional income to spend with other local businesses. If you don’t then spend you will not realise any benfit.

What’s the advantage of selling in Parity?

You acquire new customers, increase revenue.

Can I withdraw funds from Parity?

No, there is no way you can withdraw from Parity.

Can I just buy in Parity?

Purchases can be made upfront using the overdraft and repaid by future sales. Selling to pay the overdraft back and then buying again ensures you get the most value from the network.

What’s the advantage of buying?

You access extra liquidity and free up pounds for other purposes or profit.

Can I leave Parity without paying off my overdraft?

If you leave overdrawn, the exit fee is equal to your overdraft and in pound sterling.

Can I leave Parity with a positive balance?

Yes, you have one year to use the remaining balance.

Do I have to accept 100% of the value of the invoice in Parity?

You can receive 100% in Parity or ask for a blended payment, say 50% in Parity and 50% GBP.

Zero interest credit sounds too good to be true?

It is only available in the local currency and cannot be withdrawn.

How do you make money then?

Parity is based on a flat monthly membership fee. See our pricing page.

How long can I be in my overdraft?

As long as you are a member. There are no deadlines or hidden fees.

Is Parity like Bitcoin?

No, Parity is not like Bitcoin, it doesn’t change in value and you don’t need to buy it.

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A short online demo to show you how Parity works

Make a transaction, find a supplier and see the benefits

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