There are barter exchange software providers, and there are barter exchange software companies that are much more than just software providers. VirtualBarter offers opportunities no other software company can match, with proprietary products and services to help businesses grow.
Due to the challenges barter exchanges faced with US banks not quite understanding the barter business model, causing them to decline most merchant account applications, VirtualBarter partnered with WorldPay to bring exchanges a variety of merchant account services for small businesses, making it easier to accept credit and debit card payments, face-to-face or on the go.
Bruce Kamm, founder and CEO says: “most banks will not provide a merchant account to barter exchanges, as bank underwriters do not understand the barter exchange business model. VirtualBarter collaborated with Worldpay underwriters to help them understand the barter exchange business model, so that barter exchanges are an approved business type at Worldpay.”
WorldPay, the third largest processor in the US, will review an exchange’s merchant account statement to determine the percentage they are actually paying for merchant services. Most exchanges will find that the 2.2% discount rate quoted by their bank is actually 6% after adding in all of the extra charges and unqualified fees.
Bruce continues: “After switching to WorldPay, we saved hundreds of dollars a month in just the first two months. An exchange can save 30% or more on merchant processing fees with a WorldPay account. For example, if your exchange processes just $10,000 a month, you can save $200 to $300 per month.”
“VirtualBarter is not your typical barter software company. We partner with our clients. We continually strive to find value-adds to help our exchanges succeed. And now, even outside our client list, we’re able to help enhance member satisfaction and increase profitability”, says Kamm.
Become an Agent and earn immediate residuals!
Not only will your business benefit by switching your merchant services, but you can become an agent and have your own co-branded website with your logo, and offer merchant accounts to members.
Earn $50 for each new account + ongoing cash residuals that have the potential to increase an exchange’s revenue by 50% or more!
Contact Lauren Shepard to get started: lshepard@virtualbarter.com
More news
vBarter Phoenix, VirtualBarter’s new exchange management platform will launch soon. Packed with a vast array of new features, including a totally redesigned user interface and many collaboration and social media features, the new platform has advanced processing, marketing, and member as well as prospect management built into the software. All built to make exchange management easier, current VB exchanges will automatically be upgraded to the new software.
vBarter Phoenix is a revolutionary, new trade exchange management platform that features a brilliant approach to the way members interact with your exchange and transact with other members. Widgets, Plug-ins & Apps integrate a brilliant array of services with extensive API’S that extend functionality and transaction processing to third party apps and devices.
“It’s modular and customizable. An exchange’s branding, and specific feature set with customized modules provides a unique user experience in a comprehensive platform. Real time alerts and integrated statistics provide a birds eye view of the data an exchange needs to make intelligent decisions. Just a low monthly software subscription fee provides for a high return by minimizing your administrative tasks while enhancing member satisfaction. We’re excited to offer this revolutionary platform to the reciprocal trade industry”, says Mr. Kamm.
About VirtualBarter
VirtualBarter is an Internet technology leader that establishes new online marketplaces, distribution channels and point-of-purchase transaction processing. Designed for worldwide barter and trade, VirtualBarter is built to improve and deliver quality services that enhance client and member satisfaction.