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07/26/06
Barter systems still strong:
The Australian Securities and Investments Commission (ASIC) has recently announced an investigation into FUELbanc, a discount fuel card scheme established in January 2006 and heavily promoted by another barter exchange company.
Barter systems still strong

26/07/2006
MEDIA STATEMENT The Australian Securities and Investments Commission (ASIC) has recently announced an investigation into FUELbanc, a discount fuel card scheme established in January 2006 and heavily promoted by another barter exchange company.

Bartercard Australia wishes to strongly urge all consumers and businesses that the troubles experienced by FUELbanc are not reflective on barter as a reciprocal trading system and the industry as a whole.

"Barter has undergone a resurgence in the past couple of decades and, as it was centuries ago, is a major method of transacting business," said Trevor Dietz, Managing Director of Bartercard Australia.

Bartercard has been operating as a successful barter trade company for over 15 years.  Over 23,000 Australian businesses have realised how they can improve their cash flow and expand their customer networks through utilising the barter system. 

"We hope that this will continue and that businesses do not view the troubles faced by FUELbanc as issues that are faced by the entire barter industry," Mr Dietz said.

About Bartercard Australia:

Bartercard Australia was established in Australia in 1991 when the company's founders identified the potential of bartering - the world's oldest form of trade that has existed for thousands of years - and set about harnessing it in a modern economy.

A Bartercard transaction is similar to that of a credit card, where members buy and sell products and services as in any other business transaction. The medium of exchange, however, is the Trade Dollar.  Members can buy anything from business cards to a home with Trade Dollars.

One of the many benefits to members is that businesses can offset their cash expenses by paying for purchases using their own goods or services through the Bartercard network.  Therefore, they are only paying replacement product costs.

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