Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Bartercard $200m Member-To-Member Trading


Innovative Approach Behind Bartercard $200m Member-To-Member Trading

AUCKLAND , 28 July 2004 - Bartercard New Zealand announced today that its innovative business approach has attracted members including Just Water Limited, and National Car Rentals, bringing trading between B2B members to around $200 million per year.

Bartercard has 5,500 members across New Zealand including well-known companies and brands such as Liz Mitchell Design, Quicksilver Internet and mortgage business Wizard Home Loans. As a sponsor of the New Zealand Innovation Festival 2004, Bartercard and its members have adopted trade exchange as an innovative part of their business.

Denis Orme , CEO Bartercard New Zealand , says that barter is based on a reliable system of trade exchange which is thousands of years old. Not surprisingly, trade exchange is now a global, fully-computerised and proven business model in 13 countries including the United States , Australia , United Kingdom , Cyprus , Russia , Hong Kong and the Middle East .

"Bartercard gives its members a competitive edge by adding an extra dimension to their business. We essentially act as a third party record-keeper, and use trade dollars (which are equal to one New Zealand dollar) to electronically monitor the value of transactions throughout New Zealand . We are just like the clearing house for a bank, except we are inherently more flexible and less expensive to use," says Orme.

Orme also says that the Bartercard model has advantages for any sized enterprise from sole trader or small-to-medium enterprise through to a listed or multinational company.

"All of our members enjoy significant benefits such as an interest-free line of credit, reduction in cash expenses, improved cash flow, extra customers and increased market share. They've found that Bartercard meets their business needs and has advantages that they cannot get elsewhere".

Orme says that Bartercard's members can use their trade dollars across a growing range of services from law firms, accountants, advertising, photographers, strategic mentoring, management consultants, beauty clinics, accommodation, car rentals through to home loans.

"There is no limit to the services we can provide and use with trade dollars. As a business-to-business marketplace, we already offer members trade by EFTPOS, Web and transactions vouchers. We are keen to introduce more innovative technology to our network and so are looking to use e-marketplace opportunities to help our members sell their products and services."

Michael Fann , of Just Water Limited part of the recently listed company Just Water International, has found that Bartercard membership has resulted in significant benefits for the business throughout New Zealand.

"Even with the expanded public profile of being part of a listed company, we've found that the flexibility of being able to deal with the network of Bartercard members and use trade dollars to buy and sell our products has increased our penetration into new areas."


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news