Bartercard

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Bartercard is an operator of a barter trading exchange. Bartercard enables businesses to exchange goods and services without the use of cash or cash equivalents, or without a direct swap. Bartercard is a trading platform which enables businesses to exchange goods[1] and services with one another. These transactions are recorded electronically, with ‘Trade Dollars’ substituted for New Zealand currency. Each trade dollar is equivalent to one Australian / New Zealand dollar.

Bartercard was founded on the Gold Coast, Australia in 1991 by Wayne Sharpe, Brian Hall and Andrew Federowsky. Bartercard has 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 34,000 cardholders worldwide who collectively barter-trade over $600m each year. [2] In 2007, Bartercard Australia was sold in a management buyout.[3]

Description[edit]

Members earn Bartercard[4] Trade Dollars[5] / 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.

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.[6]

Evaluation[edit]

Even though Bartercard is not really based on barter but on a local currency, the trade is limited and mainly serves to attract new customers, increase sales, and offer networking opportunities [7]

References[edit]

  1. ^ "Back in time: Bartercard". theregister.co.nz. 5 April 2018. Retrieved 30 July 2019.
  2. ^ http://www.bartercard.com.au/about.html
  3. ^ "Bartercard traded for cash". amp.couriermail.com.au. Retrieved 16 March 2021.
  4. ^ "How Bartercard Works | Customer Loyalty Scheme For Increasing Profit". www.bartercard.co.nz. Retrieved 11 July 2019.
  5. ^ "Back in time: Bartercard". theregister.co.nz. 5 April 2018. Retrieved 11 July 2019.
  6. ^ "Archived copy". Archived from the original on 12 September 2014. Retrieved 12 September 2014.CS1 maint: archived copy as title (link)
  7. ^ Dawn Birch and Peter W.Liesch (July 1998) Moneyless Business Exchange: Practitioners’ Attitudes to Business-to-Business Barter in Australia. Industrial Marketing Management, Volume 27, Issue 4, Pages 329-340

External links[edit]