Bartercard

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Logo

Bartercard is a barter trading exchange founded in Australia in 1991. Bartercard enables member businesses to exchange goods and services with other member businesses without using cash or cash equivalents, or having to engage in the direct two-way swap of goods and/or services.

In 2007, Bartercard Australia was sold in a management buyout. Currently, Bartercard operates in seven countries (Australia, New Zealand, United kingdom, United States, Thailand, UAE and Cyprus).

Description[edit]

Bartercard provides members with a line of credit which they can use to make purchases. Members earn Bartercard Trade Dollars for the goods and services they sell and this value is recorded electronically in the member’s account database, or goes towards repaying the credit that the member may have used.

Bartercard has 54,000 cardholders[1] throughout the world that trade in excess of $600 million per annum.

The hotel industry utilise Bartercard to fill unsold rooms, restaurants use Bartercard to fill tables, the wine industry uses Bartercard to increase their marketing and distribution, and trades people and professionals use Bartercard to fill their work weeks and gain new business. The Bartercard network is focused on connecting business people with each other and holds over 500 networking events per year.

Taxation[edit]

For taxation purposes, that is, for calculating taxation liability, the Australian Taxation Office (ATO) treats one Bartercard Trade Dollar the same way that it treats one Australian Dollar.[2]

Technology[edit]

Bartercard offers an infrustructure that allows members to transact using EFTPOS as well as an online system and a smart phone application. Bartercard trade dollars can be transacted via a number of methods. There is the basic paper voucher system, EFTPOS, SMSPOS, InternetPOS, a secure members website, and a mobility application. Members find each other via an online directory as well as a printed directory.

Sponsorship[edit]

Bartercard is a major sponsor of the Bartercard Cup, the top level rugby league club competition in New Zealand. In Australia, Bartercard sponsors Manly Sea Eagles, Gold Coast Titans, Queensland Reds, ACT Brumbies, Central Coast Mariners, Cricket Victoria and the Melbourne Renegades. Bartercard also sponsors many other business and major sporting organisations throughout the world, including Sheffield Wednesday. Bartercard also sponsors the north stand at the Reebok Stadium, home to Bolton Wanderers.

ASX[edit]

In July 2014 Bartercard issued a Prospectus under its parent company BPS Technology for listing on the Australian Securities Exchange (ASX)[3] BPS Technology was listed on the Australian Stock Exchange (ASX) on 9th September 2014.[4]

See also[edit]

References[edit]

Bartercard IPO