Barter of America Debit Card Project, Join our Cashless Society.
the advent of BoA on-line, including a website, an on-line shopping
mall, on-line live auction rooms and swipe card facilities, BoA
is set to dominate the world's barter trade in the 21st century.
BoA's move to introduce swipe card facilities was a world first
for a non-bank institution. It provides a fast, convenient way to
purchase goods and services and reduces paperwork substantially.
The evidence demonstrated that the future of The Barter Industry
products would be built on, and dependent on, debit functionality.
The Barter of America Debit card issuers are developing relationship
magnetic-stripe cards and multifunction smart cards whose principal
characteristic will be access to customers demand deposit
accounts. Trade Exchanges or Barter Clubs that do not also have
a debit functionality will fall by the wayside.
Barter of America already had taken steps to accommodate members
who favor Barter-Debit Card and Internet Software Platform in their
POS (Point of Sale) Terminals.
CardSelect and Barter of America reached an agreement last
year on a common way for processing systems to recognize whether
a card used Internet Platform software, and announced this year
it would support Barter of America debit applications on Magnetic
Stripe cards and/or Smart Microchip Applications.
By joining Internet-CardSelect Platform, we are responding to the
growing desire of our Affiliates (Trade Exchanges) to have maximum
flexibility when initiating debit card programs of their own, to
offer to their members" Israel Rivera, chief e-business officer
and vice president of transaction systems of Barter of America,
stated in a press release.
The project, which would be the first major Barter of America-branded
Barter Debit card introduced in the United States, enable customers
to use their cards to shop on the Internet, as well as make purchases
in stores with a Balance of their accts. Stored on both the cards
chip and/or a magnetic stripe. Consumers are also able to accumulate
loyalty points/miles from merchants both in stores and on the Web
trough our partner MCPoints at www.MyCityPoints.com. Plans call
for at least one year to introduce Barter Debit cards in the United
States, early next year, the source says. BoA reportedly estimates
it will eventually issue up to 4 million cards or more in the U.S.
market, but will distribute no more than 100,000 this year, another
OVERVIEW AND VISION
Barter of America has developed a communications, transaction and
settlement infrastructure. Our technology-driven trading system
is designed to improve the efficiency of what is currently a cumbersome,
paper-driven commercial market hampered by currency exchange issues
and the challenge to monetize assets which are taken in exchange.
Transaction System innovations.
By bringing together an expert team of leading monetary economists,
database software experts, quantitative mathematicians, and transaction
systems specialists, Barter of America intends to significantly
advance the concept of barter credits with a view to facilitating
the creation of a far more robust commercial "eCurrency"
trading unit. The use of a Debit Card is critical in facilitating
the acceleration of transactions flowing through BoAs trading
system by removing the constraints of duality that currently exist
in the large, corporate and independent Trade Exchanges of the trade
Although BoAs role is to provide the processing, reporting
and accounting for the trading unit through its system, the company
are in negotiations, to partner with institutions, such as major
banks, that are willing to be market makers in this innovative alternate
Recently BoA started to negotiate with a company that develop products
that provide Internet based personalization and issuing of financial
transaction cards, credit cards, smart cards and loyalty cards.
"ALL in ONE" concept
The company develops
products relating to financial transaction cards, multiple application
cards and loyalty card programs for the banking and e-commerce industry.
Barter of America Solutions
The BoA trading system uses the Internet as a vehicle for facilitating
corporate, large and independent Trade Exchanges to trade and asset
management worldwide. At the core of the BoA business is a powerful
exchange that uses BoA trading units as its currency - enabling
buyers and sellers to transact in a frictionless marketplace.
We look forward to helping you increase the power of your dollar.