Bartercard provides business opportunities to members by converting unutilised trading capacity and excess inventory into business opportunities with new customers. Its world-leading, innovative trade exchange system allows its 10,000 cardholders in New Zealand to benefit from the cashless economy of bartering. Bartercard aims to increase a member’s business by 10 – 15% and increases net cash profit.
How Bartercard works…simplified
The Bartercard concept uses an alternative, electronic currency (trade dollars) that is exchanged between members to pay for goods and services, instead of paying cash. Members then use these trade dollars to offset cash expenses within their business.
Trade dollars are a well-recognised and accepted method of payment in New Zealand. One trade dollar is equivalent to one New Zealand dollar for all accounting and taxation purposes.
What is Bartercard?
For accounting purposes,, Bartercard operates in the same way as a credit card or another bank account. There is no difference between cash and trade dollars, with sales being recorded as income and purchases being recorded as an expense or asset.