December 29th, 2009
Barter site introduces a unique way to equalize the value of trades
NEW YORK, December 29, 2009 – BarterQuest (www.barterquest.com), a platform that supports the cashless exchange of goods, services and the use of real estate, today announced that it has introduced points, a non-cash exchange currency that can be used to equalize the value of trades or offered alone to acquire items on the site. Points are intended provide users with greater flexibility in finding and completing fair trades in cases in which both parties want what the other has, but there is a significant difference in the value of the items. Points become the equalizer.
Users will be able to purchase points at any time (one point equals one dollar) and redeem them for cash. Users will also be able to accumulate points through their trading activity when and as they receive points for their items. There is no charge for the purchase of points. There will be, however, a small service charge for the transfer or redemption of points. BarterQuest has partnered with PayPal to develop tailored applications of its newest Adaptive Payments APIs to provide users with easy and safe payment options.
A secure payment feature will escrow points for a period of time after their transfer, during which they will be unavailable for use in another trade and cannot be redeemed. If the sender of the points disputes the trade within this period, the points will be held pending the resolution of the dispute.
“Our site is committed to facilitate trading by our users,” stated Michael Satz, CEO of BarterQuest. “To do this, we want to develop features that reflect not only what they may want, but what they may need to complete a trade. While barter inherently involves the exchange of one item for another, there are cases in which potential trading partners may each want what the other has, but the value of the items is unequal. When the difference cannot be bridged with additional items, points can solve the problem. The introduction of points opens up the trading possibilities for our users.”
BarterQuest supports the cashless exchange of all types of goods, services, and real estate. BarterQuest provides a trading platform based on proprietary technology (patents filed) that instantly matches the haves and wants of users for two party and multi-party trades. Barter is facilitated by a user friendly Web design that is unique in its combination of features that support trading. BarterQuest is headquartered in New York, NY and is owned and operated by JPM Global, Inc., a Delaware corporation. For more information, visit www.BarterQuest.com.