Bartercard has announced that it has appointed its first USA franchisees. The commercial brokerage company, which has around 1,000 card holders in the UAE, has positioned Alejandro Cortes and Seth Twery as franchisees for its new operations in the US. The organisation says that it is keen to expand its international portfolio as the global economic outlook improves, with the US being a natural next market for its innovative trading concept.
“I would like to take this opportunity to congratulate and welcome Alejandro and Seth to the Bartercard family,” said Fadi Nohra- Managing Director Bartercard UAE.
“Alejandro has a strong background in currency trading and knows all about having a single-minded commitment to get results, having been a professional tennis player who played in the Davis Cup. Seth brings over 25 years of transformational management experience to the table. He is a much sought expert on financial services and has written extensively on topics including payments, risk and compliance. Both are keen to get started and have said that ‘Team USA’ is going to be chasing the number one position from the outset…so watch this space!” he added.
Launched in Australia in 1991, Bartercard helps companies looking for innovative commercial solutions that will save them cash. It facilitates primarily business-to-business deals, with transactions working in much the same way as they would with a regular plastic card. Members signing up for the service receive a card which they can use to purchase goods and services from other Bartercard members, with transactions not involving the physical action of a direct swap of goods.
Bartercard’s primary benefit is the saving of cash, as it enables business owners to pay for what they need by offering their own goods or services. This allows them to preserve capital for other important expenses. Many of the services offered through a barter exchange are expense services, such as accounting, cleaning, gifts, restaurant dining, room booking and travel. Obtaining these through a barter transaction saves money, which can be better put towards other aspects of the business.
Since its inception, Bartercard has grown exponentially, offering a unique mutual arrangement for organisations wanting to conduct business. The organisation currently helps over 55,000 businesses in seven countries, with a trade volume exceeding $1.2bn.