We define a planar para algebra, which arises naturally from combining planar algebras with the idea of \mathbb{Z}_N para symmetry in physics. A subfactor planar para algebra is a Hilbert space representation of planar tangles with parafermionic defects that are invariant under para isotopy. For each \mathbb{Z}_N, we construct a family of subfactor planar para algebras that play the role of Temperley–Lieb–Jones planar algebras. The first example in this family is the parafermion planar para algebra (PAPPA). Based on this example, we introduce parafermion Pauli matrices, quaternion relations, and braided relations for parafermion algebras, which one can use in the study of quantum information. An important ingredient in planar para algebra theory is the string Fourier transform (SFT), which we use on the matrix algebra generated by the Pauli matrices. Two different reflections play an important role in the theory of planar para algebras. One is the adjoint operator; the other is the modular conjugation in Tomita–Takesaki theory. We use the latter one to define the double algebra and to introduce reflection positivity. We give a new and geometric proof of reflection positivity by relating the two reflections through the string Fourier transform.