Major release: Announcing our new groups!
Where do we start … it has been a long and arduous process to rebuild the old MiniCorp features which were in closed beta last year. Finally we are opening them up to the world with loads of new functionality. This is the future of Scred and the future of how to manage money.
And no, we haven’t forgotten our much loved release names. We held the latest name back for a special occassion, which this is.
The release is called: Best of Both Worlds.
In this announcement:
- What’s New
- What about the costs?
- The PayPal competition
What’s New

So let’s see what we are announcing:
- A whole new level of Scred money management for communities. It is based on the new PayPal X APIs and is now open in public beta for everyone!
- With the new Scred Groups you can get to grips with your community’s complete finances, in a really integrated and easy to use way. No accountants needed!
- Record expense claims (including attachments like receipts) and pay them out, send invoices, collect registration fees for events or memberships, sell items with your own webshop etc.
- Everything is integrated, tracked and accounted automatically. Income and expenses, profit and loss, and other reports are generated for you. You can forget about fiddling with Excel.
- Make payments directly from within your group’s pages.
- You can think of this as a kind of smart community-oriented online bank. Whereas a normal banking experience is just moving figures from one place to another, we provide a whole bunch of tools to make things relevant for you and your community. We add meaning to money.
- For bands, indie film crews, event organisers, associations, hobby groups, small businesses and I’m sure you’ll come up with many more.
- We have completely redesigned the look to our site.
- We have dropped the terms Pools and MiniCorps from active use. They are both just different kinds of Scred Groups.
- We have entered this into the PayPal X Developer Challenge competition. Please support us by voting for Scred (see instructions)!
Phew, that was a lot of stuff. Needless to say, we’ve been working incredibly hard to get all of this done. While this is still work in progress, we are immensely proud of it. The level of integration and the ambitions for this project are unlike anything attempted before in this area. We believe this is what all financial systems will look like in a few years.
Check out a short video of Scred’s new stuff
For anyone worried: shared expense groups will not be forgotten. We regularly need and use them, and they will be developed. However, we are very excited about these new developments, and we will be working hard to advance them onwards.

What about the costs?
For all money moved by Scred (using PayPal) we will charge 1.5% of the amount transferred (minimum $0.25 or 0.25 EUR per transaction) [1] [2]. This is our open beta pricing and is subject to change after the beta period, but we will keep things decent for our groups in the future too.

Voting in the PayPal competition
Check our earlier post for instructions on voting.
If we do manage to win, we will pass on any waivered PayPal transaction fees directly to our Scred Groups! That’s a total discount of up to $50′000 in fees to our customers. [3]
Tweet this link about voting: http://bit.ly/scred-paypal

Feedback
We would love to hear your feedback on all of this. Do not be afraid to click on the Scred feedback link.
Log into Scred to start using the new features.
[1] For payments in US dollars the minimum fee charged by Scred is $0.25 and for payments in euro 0.25 EUR. For payments in other currencies a value equal to 0.25 EUR is charged in the currency of the payment.
[2] Standard PayPal fees apply in addition to the Scred fee.
[3] Applies to fees charged by PayPal, Scred’s standard fees apply.










