Public Funding for D. R. Holdings Ltd

Karri currently offers schools a payment collections app designed to communicate and receive payments digitally. Schools are able to send a "collection" request for payment relating to education-related expenses, such as extra murals, stationery, textbooks, uniform, sporting activities, tours, outings, camps and examinations/assessments. Conversely, parents are saved the time and cost of frequent manual withdrawals/payments. Karri aims to simplify collections and enhance financial health in education and youth market segments. In this project, Karri is developing an innovative prepaid card and mobile app designed to elevate financial health in the education and youth-spending spaces. The new Karri App will utilise a digital wallet's functionality by attaching a prepaid card to a parent's digital wallet. The Karri Card will provide significant benefits to parents, children and, further, educational institutions. It will allow a child, under parental controls, to spend at multiple third-party merchants and at their school, supporting a child's financial independence. Parents will be able to set spend limits at merchant-type level, with variability down to the day-of-the-week or time-of-the-year. This will dramatically increase transparency/tracking of costs for parents and provide a budgeting tool. The Karri Card will be made secure and highly customisable through card controlled spending functions, limiting attack vectors on card payments, and eliminating cash fraud. Consequently, this will lead to increased efficiency and cost-savings in managing cash amongst families and within schools through the elimination of cash handling and storage and associated administration. There are 32,000 UK schools with ~10m pupils \[BESA,2021\], ~2,250 of these are fee-paying \[UKGov,2019\]. Karri will help to support children in setting good money habits and, more broadly, can support financial wellness in the next-generation of banking customers. Karri offers easier and lower administrative costs of cash, saving schools and parents precious time. Pre-ordering school dinners could be utilised to cut food waste costs considerably. Healthier food choices through parental oversight will help combat childhood obesity and support allergens control (Natasha's Law). Individuals, particularly disabled children, can avoid carrying cash. Increased cyber-bullying globally \[Comparitech,2022\] highlights the need for these tools.