Dubai City Information Site

Barter Card in Dubai - Ancient Trade Concept, Modern Technology





The barter card in Dubai introduces to modern day civilization the concept of trading that is ages old, but recently implemented with great success through technological innovation.

   The barter card system allows small businesses to trade Dirhams through exchange of goods and services in Dubai.

Let’s have a look at this in a bit more detail:

How Does Barter Card Work?

“Bartercard is a unique service network that is not funded on a cash basis but through goods and services exchanged or bartered with other Bartercard members.

Unlike traditional credit, debit cards or cheques, a Bartercard transaction requires member businesses to exchange goods and services with each other for ‘Trade Dirhams’. These Trade Dirhams are credited to the member’s Bartercard account when goods or services are exchanged.”

To an individual consumer, it is pretty much meaningless (in my opinion).

But to a business owner, it can work wonders.

Biggest Advantage: Service based businesses can take most advantage of the barter exchange system.

I know businesses that would normally charge $1,000 for a job, charge $1,200 instead if the customer paid with a barter card. Why would the customer do that? That takes us to our biggest disadvantage of the system.

Disadvantages: The user / purchaser of goods and services has restricted use of it. Unlike a credit card, a barter card can only be used where accepted. The accepting merchant has to be part of the network. Unfortunately, not many big businesses/companies are. Most of us buy from the big boys don’t we?

Being a CPA myself, I can see how savvy Accountants cash use this to manipulate cash flows and earnings. It is no wonder why this is not used by big businesses. I will leave it at that.







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