BPS Technology’s (ASX:BPS) latest Bartercard licensee Bartercard Johannesburg in South Africa has successful signed up 12 new strategic business members in its first eight weeks of operations.
While current operations are based in and around Johannesburg, there are plans to expand into several additional provinces within South Africa in two years.
Bartercard is the largest Trade Exchange operator in the world with more than 24,000 merchants serviced by more than 70 offices across eight countries.
It allows business owners around the globe to conduct business without the use of cash money. Businesses use Bartercard’s own digital currency as a way to conduct business that allows them to conserve cash as well as move excess stock, fill downtime and increase their customer base.
Operations in India and China are expected to commence shortly.
This should improve revenues and income given that the Bartercard Group, a wholly-owned subsidiary of BPS, receives royalties of 6% of all revenues generated in each country.
Last year, its 54,000 card holders transacted more than $600 million of fee generating transactions and the business processed more than 1.8 million transactions most of which were done electronically via its on-line transactional portal, mobile app or across more than 7,000 bank EFTPOS terminals.
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