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Archa

Archa is a spend management platform that gives you fast access to credit and Mastercard spending cards for your small business.

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Archa is an Australian fintech company that has partnered with Mastercard to offer small-to-medium businesses credit and cards for employees, as well as management tools.

It uses technology to offer a faster application process compared to some similar products from major banks, and lets you instantly issue cards for employees without all the paperwork you'd typically expect.

What is Archa?

Archa combines features of business credit cards with spend management facilities. When you sign up for an Archa plan, you'll get a line of credit and a Mastercard charge card – similar to a credit card but with 30-day repayment terms and no interest charges.

You can instantly issue additional cards for your employees, which cuts down on time managing expense claims and reimbursements. The Archa app uses clear visuals to break down spending, plus a direct link to Xero accounting software.

Pros and cons

Pros

  • Fast application. You can apply in around 5 minutes online and will get an outcome within 48 hours.
  • No personal guarantee or liability. Archa underwrites credit for your business. This helps keep your own money separate from your business's financial responsibilities.
  • Real-time management tools. You can set up additional cards for employees, update spend limits for cards and track spending instantly through the Archa app.
  • No interest charges. Unlike business credit cards, Archa cards give you a line of credit that you repay in full every 30 days – similar to other business charge cards.

Cons

  • Limited reporting options. Archa only offers integration with Xero at the moment. So if you have established accounting processes and/or use other software, you may need to wait for features to be released or look at another option for your business.
  • Higher credit limits can cost more. Archa Solo and Team plan prices are based on a $5,000 credit limit, with a $10 monthly fee per additional $5,000.
  • Features still in development. Archa plans to offer virtual cards, custom card limits, receipt capturing, a desktop platform and more integration with accounting software in the future, but these features are not currently available.

Archa plans

Archa offers plans to suit different types of small- and medium-sized businesses, with slight changes in the features depending on which one you choose.

Solo

This plan is suited to sole traders and includes the following features:

  • Physical card. This plan gives you an Archa card you can use anywhere Mastercard is accepted.
  • Credit limit. This account offers credit limits up to $5,000, subject to the credit assessment.
  • 30-day repayment terms. The full amount that you spend with an Archa card will be repaid every 30 days by direct debit from your chosen bank account.
  • Account management. Your account shows detailed transaction data and can be linked to Xero accounting software to help with accounting tasks. You can also export data in .CSV format for applications like Microsoft Excel.
  • Mobile payments. The Archa card can be added to your Apple Pay and Google Pay accounts for contactless, mobile payments.

Solo plan pricing

Monthly fee: $14

Team

If you have employees and want a single account for business spending, this plan includes the following features:

  • Physical cards. Get Archa cards for yourself and your employees, linked to the one account.
  • Instant card issuing. You can quickly set up new cards for your employees at any time through the Archa app.
  • Credit limit. This account offers credit limits up to $20,000, subject to the credit assessment.
  • 30-day repayment terms. The full amount that you spend with an Archa card will be repaid every 30 days by direct debit from your chosen bank account.
  • Account management. Your account shows detailed transaction data and can be linked to Xero accounting software to help with accounting tasks. You can also export data in .CSV format for applications like Microsoft Excel.
  • Mobile payments. The Archa card can be added to your Apple Pay and Google Pay accounts for contactless, mobile payments.

Team plan pricing

Monthly fee: $19 per cardholder
Minimum monthly plan fee: $38 (e.g. for 2 people)

Custom

If you want something different to the Solo or Team plan, this plan gives you a way to get a more customised account. Some possible features include:

  • Dedicated account manager. You'll have contact with the same person for all your account management and questions, which could help you save time on admin and other tasks.
  • Personalised onboarding. Get training for yourself and employees so you can make the most out of Archa without spending lots of time figuring it out for yourself.
  • Physical cards. You'll get Archa cards for yourself and your employees, linked to the one account.
  • Instant card issuing. You can quickly set up new cards for your employees at any time through the Archa app.
  • Credit limit. This account offers flexible credit limits, with the Archa website currently saying it can offer up to $40,000.
  • 30-day repayment terms. The full amount that you spend with an Archa card will typically be repaid every 30 days by direct debit from your chosen bank account. With this plan, you could also talk to your dedicated account manager about how to manage payments in a way that works for your business to see what's possible.
  • Account management. Your account shows detailed transaction data and can be linked to Xero accounting software to help with accounting tasks. You can also export data in .CSV format for applications like Microsoft Excel.
  • Mobile payments. The Archa card can be added to your Apple Pay and Google Pay accounts for contactless, mobile payments.

Custom plan pricing

Customised

How to get an Archa plan

You can sign up for Archa online in a few minutes and will get a response within 48 hours.

Eligibility

  • Business registration. Your business must have an ABN or ACN.
  • Business history. You need to have been operating your business for at least 6 months before you can apply for an Archa plan.
  • Monthly revenue. Your business needs to have a monthly revenue of at least $5,000.

Required documents

  • Business bank details. You need to give Archa access to 6–12 months of business bank statements.
  • Business information. This includes your business website, LinkedIn or other social media profiles, as well as background on what your business does.
  • Phone number. You need this to complete the application and set Archa up on your phone or another mobile device.
  • Personal ID. Your driver's licence or passport details are needed to help verify your ID and the ID of any employees who will be responsible for managing the account.

More information about Archa

Fintech (financial technology) companies like Archa and Volopay are becoming more common in Australia. But because they are not as well-known or established as a bank, you might want to know more before you apply.

So, here are some other details to keep in mind when you're looking at Archa for your business:

people connected with dollar sign at the center iconReferral program

Archa has a referral program for existing members, which gives you a $50 eGift voucher when you refer a friend and they get an Archa plan. Plus, your friend will get their first monthly subscription fee waived.

credit cards and chart iconBusiness credit history

Archa will submit your repayment history and some other details to credit-reporting bureaus in Australia, which gives you a way to build up a good credit score for your business.

shield with padlock iconSecurity

Archa uses multi-factor authentication for your account, auto-locking for the app and data encryption. It also has fraud monitoring for the account and zero liability for fraudulent transactions through Mastercard.

certificate iconFinancial licence and responsibilities

Archa is an independent company with its own Australian Credit Licence. It also provides information to the credit-reporting bureaus in Australia.

email icon iconContact details

Archa has a contact form on its website, as well as a support email address: help@archa.com.au. It is based in Cremorne, Victoria (a suburb of Melbourne).

bank with dollar sign iconArcha business history

Archa was originally launched as a neobank but moved its focus to business banking in 2020 and has a principal partnership with Mastercard.

It also has backing from investors and business founders, including Wisr CEO and founder Anthony Nantes, THE ICONIC and Hatch co-founder Adam Jacobs, BetaShares founder and CEO Alex Vynokur and former Macquarie Capital executives John Prendiville and Link Chairman.

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