Bartercard

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Bartercard is the operator of the world’s largest barter trading exchange that attracts new customers and increases sales for its SME members. Bartercard enables businesses to exchange goods and services without the use of cash or cash equivalents, or without a direct swap.

Bartercard was founded on the Gold Coast, Australia in 1991 by Wayne Sharpe and has built a presence in eight countries (Australia, New Zealand, South Africa, United Kingdom, United States, Thailand, United Arab Emirates and Cyprus) where 75 offices service approximately 54,000 cardholders worldwide who collectively barter-trade over $600m each year. [1]

In 2007, Bartercard Australia was sold in a management buyout. In 2016, Bartercard reached 25 years in the industry and announced further expansion in the North American market launching six new franchises and taking Bartercard's USA presence to 18 franchises in eight states. The eight US states now covered by Bartercard account for a quarter of the nation’s economic growth. [2]

Description[edit]

Bartercard has modernised the practice of barter integrating it into new industries and creating a flexible and fully accountable way of trading to convert spare capacity, slow-moving stock, empty seats, excess or obsolete inventory and downtime into new sales income. Members transact through a currency alternative in place of cash to offset business costs, increase profits and gain exposure to new customers and followers within Bartercard in the cash economy via positive reviews and referrals. [3]

Bartercard provides members with an interest free line of credit which they can use to make purchases. Members earn Bartercard Trade Dollars / Pounds 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.

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.[4]

Technology[edit]

Bartercard offers an infrastructure that allows members to transact using EFTPOS as well as an online trading platform 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 (MYBC), and a mobility application. Members find each other via an online directory, Bartercard's online trading portal MYBC.

Bartercard Property[edit]

Bartercard has extended its real estate and construction division to create more real estate purchasing opportunities for members. A new Bartercard Property website launched in 2016 that presently houses $145 million in listings. Since launching, Bartercard real estate listings have increased by approximately 45 million worldwide. [5]

Bartercard Tourism[edit]

Bartercard has approximately 1,000 accommodation options world-wide which members can purchase with their trade dollars. Bartercard has hotels, resorts and guest houses across destinations including the Pacific Islands, Thailand, the UK, Europe, UAE, USA, New Zealand and more, Bartercard also offers packages in Australia. This includes almost 400 options domestically which members can purchase with their trade dollars. [6]

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 Gold Coast Titans, Adelaide Crows, Queensland Reds and ACT Brumbies. Bartercard also sponsors many other business and major sporting organisations throughout the world, including Sheffield Wednesday, Hartlepool United, and British basketball team Leeds Force[7].

ASX[edit]

In July 2014 Bartercard issued a Prospectus under its parent company BPS Technology[8] for listing on the Australian Securities Exchange (ASX)[9] BPS Technology was listed on the Australian Stock Exchange (ASX) on 9 September 2014.[10]

In August 2016, the ASX-listed BPS Technology Limited acquired Entertainment Publications Australia and New Zealand, a leading business-to-consumer (B2C) deals platform which produces the Entertainment Book and the Entertainment Digital Membership. The transaction includes the global rights (with the exception of Canada and the United States) to the brand and associated intellectual property. [11]

In 2016, BPS Technology finalised a Merchant Agreement with SmartTrans (ASX: SMA) which enables businesses to sell and distribute products in China via Alibaba’s wholesale cash e-commerce website 1688.com. The new agreement creates a gateway for Australian businesses into China’s rapidly growing $US670 e-commerce sector and is open to Bartercard’s 24,000 members. [12]

See also[edit]

References[edit]

Bartercard IPO

Bartercard Boosts Business Bartercard buys Entertainment Book