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アレクサンダー.eth edited this page Jul 11, 2023 · 4 revisions

Ubiquity card issuing

Terms

  • Ubiquity - our company.
  • DevPool - our freelance marketplace.
  • Partner project - a project that creates tasks in the Ubiquity freelance marketplace.
  • Freelancer - an individual who solves tasks in the Ubiquity freelance marketplace.

Partner projects and freelancers can be located in different countries.

Ubiquity products

Ubiquity DevPool

Ubiquity is a funded startup building the DevPool - a freelance marketplace.
Unique features of the freelance marketplace - it is natively built on top of GitHub and highly automated.

The target audiences are developers-freelancers and Open Source projects that use GitHub.
Both developers-freelancers and Open Source projects can be located in different countries.

Ubiquity cards

Ubiquity wants to provide bank cards to freelancers.

The Ubiquity cards position is similar to the Payoneer position for Upwork and other freelance marketplaces.

The cards should be highly suitable for freelancers: get paid from the DevPool and from other freelance places, have discounts and cashback on the tools and digital products for freelancers.

This approach should make Ubiquity cards attractive for freelancers and also can be helpful for legal purposes.

Ubiquity Research Ltd

  • https://ubq.fi/

  • https://github.com/ubiquity 

  • Quijano Chambers, P.O. Box 3159, Road Town 3159, Virgin Islands (British), Postal Code VG1110

  • Shareholders

  • The only shareholder is the company registered in Panama.

  • The only shareholder of this company registered in Panama is one US citizen, the Ubiquity founder

  • Other important information

  • The registration is performed by https://otonomos.com 

Requirements

General requirements for the solution

The complete solution for payment freelancers that include branded Ubiquity cards.

The solution should include

  • Preferably without any specific licenses

  • As cards will be issued on an existing platform, there is no need in getting any specific license.

  • Business entities' structure and their jurisdictions

  • The US jurisdiction is not considered

  • Business entities types and taxes

  • In some jurisdictions, there are perks for startups, including special tax regimes

  • Banks

  • Card issuers

Requirements for cards

  • White-label solution

  • Ubiquity will create cards for freelancers.

  • The cards should be borderless

  • Freelancers from different countries should be able to get the cards.

  • Freelancers should have the ability to spend money in different countries.

  • The card issuer should have an API

  • Generate virtual cards.

  • Issue payments.

  • Easy issuing and terminating cards like in https://privacy.com/unique-card-number 

  • Card schemes  

  • Visa or MasterCard

  • Base currency

  • USD

  • Card type

  • Virtual (not plastic)

  • Debit

  • Basic level (not elite)

  • Number of cards

  • Up to 50 cards during the 1st quarter

  • Up to 1000 cards during the 1st year

  • Fees for card use

  • Reasonable, medium level on the market

Requirements for the cost and effort

  • The cost of the solution before the launch of the cards is not higher than several tens of thousands of USD.
  • Minimal risk of problems with regulation.
  • It is desirable to start issuing cards for freelancers in the Summer of 2023.

Payment process

As Ubiquity is a startup, it is researching different business models.

The exact money flows are not defined yet, these are drafts:

Payment option 1

  • Partner project transfers fiat money to Ubiquity and creates freelance tasks.
  • Once a freelance task is done, the freelancer provides his/her payment details (desired fiat currency, card number/IBAN/SWIFT code, valid name, personal identifier, etc).
  • Ubiquity pays the freelancer in fiat money by the provided payment details.

Payment option 2

  • The company that issues Ubiquity cards is registered in country A (Singapore).
  • The freelancer that gets the Ubiquity card is a resident of country B (ie South Korea, France, Nigeria, etc).
  • The payment to the Ubiquity card is performed from the company registered in country C (Singapore, British Virgin Islands).
  • The freelancer spends money via Ubiquity cards in his home country and abroad D (ie Thailand, Turkey, etc).

Payment destinations

  • At the moment, there is no correct information on the list of payment destinations.
  • The vision at the moment - all countries where freelancers are located, excluding all high-risk (FATF black and gray lists, offshore jurisdictions, Russia and Belarus).
  • The top list of countries can be found

https://blog.payoneer.com/freelancers/industry-tips-fl/6-countries-capitals-freelancing/

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