Bartercard operates as a ‘trade exchange’ and has transformed traditional bartering into a modern business tool. Using online technology Bartercard has created a flexible, secure and fully accountable way for businesses to barter-trade their goods and services with businesses world-wide.
Bartercard facilitates and monitors the purchases (debits) and sales (credits) undertaken by members. These transactions are recorded electronically and its members receive a monthly statement that summarises their transactions. Members can transact using the following: an eftpos enabled card, phone application with transactional capabilities and online transactional options. In addition, Bartercard promotes member businesses and maintains and updates a member business directory.
Who is behind Bartercard?
Bartercard became a publicly listed company in 2014 under its parent company BPS Technology. Bartercard has been in operation since 1991 and has experienced directors and management with well over 150 years of combined experience. Click here to view management.
The vision of Bartercard is to be the leading global marketplace where businesses connect and barter-trade their goods and services.
Bartercard currently has Approximately 30 offices in Australia and operates in 7 countries.
What is Barter?
Barter is simply defined as the exchange of goods and services. (It is not haggling for prices.)
When you barter your goods/services for goods/services you need, you are creating a sale and effectively buying at your own cost of goods. To put it simply, if a business owner had a choice to pay for an expense for $1,000, he is much better off providing a gift voucher from his business than paying $1,000 in cash, because your profit margin built into the value of the gift voucher.
What businesses do Bartercard work for?
Bartercard can work for any business that has the capacity to take on additional business. There are many case studies and trading tips available for members to study to see how Bartercard can work for them.
What type of businesses is in Bartercard?
Bartercard has a strong membership base of 24,000 businesses and 55,000 cardholders worldwide.
There are over 700 categories of businesses from a - accommodation to z - zoo. Bartercard welcomes all industries and all businesses. Check out our member category listing to understand what businesses are in Bartercard.
What can I sell through Bartercard?
You can sell almost anything through Bartercard. Besides your own products and services there is nothing stopping you from selling something from home or even buying from a manufacturer or wholesaler and then on sell with a margin through Bartercard. Your trading is only limited to the efforts you are willing to put in to be successful.
How can I use Bartercard?
There are many different ways to use Bartercard to build your business and improve your lifestyle. Upon joining you will have access to many video tutorials and case studies on unique and creative ways to solve common business challenges. A dedicated Account Manager (Trade Co-ordinator) will also be available for you to discuss the many options that best suit your business and lifestyle needs. You can get a sense of how some of members use Bartercard by clicking on ‘Testimonials’.
How does a transaction work?
A Bartercard transaction is similar to a credit/debit card transaction.
Members earn Trade Dollars for goods and services they sell and this value is recorded electronically in the member's account. Members use their Bartercard transactional card to spend their credit balance (or draw on their interest-free line of credit) on goods and/or services from any other Bartercard member. The flexibility of the Bartercard system is you don’t have to purchase from the same business that purchases from you; you can spend locally, nationally and internationally; you can sell now and buy later; you can use the interest free Trade Dollar credit lines provided and buy first before even making a sale.
Can I use Bartercard for personal purchases?
Yes, your business pays for your personal expenses so if you can save cash on expenses then it just makes sense to use Bartercard.
You can pay Bartercard Trade Dollars as a director’s dividends, drawings or loan. As a tip there is no FBT applicable if you deposit cash into your business and draw out the equivalent amount of Trade Dollars in exchange. There is further explanation of this on how to incorporate Trade Dollars into your payroll system in our creative business tips available for members. However, we always suggest members speak to their accountants regarding how best to implement these strategies into their business.
Can I limit the amount of trading I do?
Yes, you can limit the amount of trading you do. Bartercard members may trade up to 10% to 15% of their total business turnover. We understand there are times when you may be operating at full capacity for a period or seasonally at your peak. Working with your Account Manager (Trade Co-ordinator) you work out a plan for the amount of trading that best suits you and your business. You can start slowly and as you work with us to bring on more suppliers of your choice you can increase the amount of trade you do.
What if none of my suppliers are in Bartercard?
When you join, a comprehensive business analysis is conducted with the view to identify potential suppliers already available in the business network. If there are insufficient suppliers available to suit your needs then Bartercard will work in cooperation with you to bring in additional new recommended suppliers. Many of Bartercard’s top trading members have successfully improved their business profitability by being proactive in the recommendation and referral of new suppliers.
How do I convert my Trade Dollars into cash?
By purchasing products or services with your Trade Dollars on business or lifestyle items you have already saved cash. You can also buy items with your Bartercard Trade Dollars and then sell them for cash, therefore converting Trade Dollars to cash. For example, a restaurant purchases wine on Bartercard and then sells the wine within the restaurant for cash.
Can I charge part cash and part barter?
Bartercard is a 100% trading system exchange. Upon joining every member agrees to trade at 100% full barter. There are practical exceptions to this rule. Bartercard rules allow for real estate transactions to be conducted with a minimum of 20% barter component; transactions in excess of $100,000 can be negotiated; and continuous cash/barter supply agreements can be negotiated only with prior written approval of Bartercard authorised representative.
Can I trade overseas?
Yes, Bartercard has offices in New Zealand, United Kingdom, Thailand, Cyprus, United States, India, South Africa and U.A.E. In addition, Bartercard has reciprocal arrangements with several other Trade Exchanges worldwide. There are many members who have now established new selling and buying markets internationally. Travel remains the favourite for members taking international holidays. They are paying for their holidays with new business and with their own goods and services.
Do you have business networking functions?
Yes, Bartercard hosts over 500 local and state-wide networking functions a year in Australia. Each member is encouraged to participate in these functions in order to acquaint themselves with other members and promote their own business. It is a great way to build up your contact base. Bartercard will be holding more regional and state events this year so stay tuned.
What is a Trade Dollar?
A Trade Dollar is the trading currency Bartercard members use to transact with. For tax purposes of accounting and taxation, one Trade Dollar (T$1) is equivalent to one country equivalent dollar.