Bartercard

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Bartercard
Company typePrivate limited company
IndustryFinancial services
Founded1991
FounderWayne Sharpe
Brian Hall
Andrew Federowsky
Headquarters
Gold Coast, Australia

Bartercard Private LTD. is an operator of a barter trading exchange. Bartercard enables businesses to exchange goods and services without using cash or cash equivalents or a direct swap. Bartercard is a trading platform enabling businesses to exchange goods[1] and services. These transactions are recorded electronically, with ‘Trade Dollars’ substituting New Zealand currency. Each trade dollar is equivalent to one New Zealand Dollar.[2]

Founding[edit]

Bartercard was founded in 1991 on the Gold Coast, Australia 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. [3] In 2007, Bartercard Australia was sold in a management buyout.[4]

Description[edit]

Members earn Bartercard[5] Trade Dollars[6] / 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 calculating taxation liability, the Australian Taxation Office (ATO) treats one Bartercard Trade Dollar the same way that it treats one Australian Dollar.[7]

Evaluation[edit]

Bartercard is not based on barter but on local currency. The trade is limited and mainly serves to attract new customers, increase sales, and offer networking opportunities [8]

References[edit]

  1. ^ "Back in time: Bartercard". theregister.co.nz. 5 April 2018. Retrieved 30 July 2019.
  2. ^ "FAQs". Bartercard. Retrieved 11 September 2023.
  3. ^ "Business Tips - Take Your Business to the Next Level | Bartercard aus".
  4. ^ "Bartercard traded for cash". amp.couriermail.com.au. Archived from the original on 15 August 2019. Retrieved 16 March 2021.
  5. ^ "How Bartercard Works | Customer Loyalty Scheme For Increasing Profit". www.bartercard.co.nz. Retrieved 11 July 2019.
  6. ^ "Back in time: Bartercard". theregister.co.nz. 5 April 2018. Retrieved 11 July 2019.
  7. ^ "Bartering and barter exchanges | Australian Taxation Office". Archived from the original on 12 September 2014. Retrieved 12 September 2014.
  8. ^ 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]