What is a barter system? Bartering systems are a simplified way of exchanging goods without the use of cash. In fact, it is the oldest method of exchanging items of value in history. You’ve probably heard of or participated in this activity before. Remember back in school kids used to swap pencils for erasers, snacks for a drink, sweets for friendship and so on? Even this old system still exists in modern days and among those of all age groups. In the present day, we now have bartering systems established worldwide with the use of online scripts.
How does bartering work? Bartering scripts are based on the word “exchange.” In order to make the system work effectively, participating individuals using the bartering system should be equally interested in each other’s goods. This ensures satisfaction and matching goods appropriately considering perceived value.
Even though it used to be quite common, now it is very unlikely to come across those using the bartering system while walking through the street or market. It comes as no surprise that we now expect to complete payments using apps, credit cards, bitcoins, and cash or check in some cases. This is typically the case in our day to day living, but the technology still has it’s hand in bartering, as interactions between the users have increased online. As expected, online websites created for swapping has made bartering more advanced.
Let see how an online barter system actually works:
Here are a few points to better explain the online barter system and how to use it.
- FIND THE BEST SITE FOR YOUR NEEDS
The first step towards online bartering is finding the best marketplace to exchange items. Modern-day marketplaces are found online. As bartering has found its way into the world of technology, the possibility of bartering activities has increased tremendously. The availability of the item we are looking for as well as the people who are looking for our item will be greater online than at a local barter market, so it only makes sense to seek out an online option.
- REGISTER ON THE SITE OR BARTERING COMMUNITY
In the early days, exchanging goods didn’t have tracking codes or receipts. That’s a whole different story today. Now online systems can easily keep track of our exchanges so it’s pretty easy to sort items – and even other members – when we look for any past exchanges in the future. But in order to keep things on track, users need to register with the website. It could be free or paid, as it really depends on the website administrator/owner’s choice. Most sites – about 90% – of these bartering websites will be free from registration. Instead, the site administrator will cut a portion out or share a commission with those selling goods in order to effectively provide the right online platform for both users and sellers.
- LOOK FOR THE ITEM AND MAKE A DEAL
Ready to search for items? After becoming an active member on the site, you can look at items and browse those that interest you. When you find an item of interest, you can proceed in numerous ways.
- The owner can either accept or reject your bartering request. If he/she accepts, then you both can agree to exchange your own items or he/she can exchange items for your points.
- If rejected, you can choose to bargain with points, which is considered virtual cash you keep in the system.
- CLOSING THE DEAL
After deciding how to exchange, both you and the other exchanger will proceed with the bartering request. The admin plays an important role here, if the exchange is with the item, the admin must make sure the item given and received is perfectly succeeded in order to avoid fraud exchanges.
The iScripts online bartering system is a unique system which will allow you to create your own barter exchange network website where users can easily buy, sell and swap their own items. The software contains all the most wanted and sought after features and functionality necessary for you to launch a professional barter exchange network website, similar to Swap.com or U-Exchange.com.
Similar to Craigslist and Swap.com, iScripts eSwap is a bartering system. We’ve had numerous clients create their own bartering websites using the open source script for iScripts. We made sure to include features common on all the best bartering websites.
Do you have a garage full of items that are still useful but you no longer use? Perhaps you have a closet full of clothes that you no longer wear? Do you think of wasted money when your book shelf is stacked with all of these books you’ve already read? You are not the only person looking for a way to turn these lightly used goods into other useful items or even cash! Disposing of these items could result in a great loss as some can be sold for copious amounts of money.
In this age of computers and the Internet, the best thing to do is online swapping. Think of it as a yard or garage sale online. Instead of getting cash, you get other items you might need or want in exchange for your own unneeded and unwanted items. Better yet, as the admin of a site like this, you get profit in the form of success fees, memberships, featured listings, points-system purchases, and more!
iScripts eSwap is an innovative software program designed to create an online marketplace where users can buy, sell, or exchange items. The platform allows you the opportunity to offer your users a variety of options including listing fees, featured item fees, optional escrow fees, or monthly subscription. It gives you the flexibility to charge any or none of these fees from your users. The software supports most common payment gateways. Offline payment methods are also supported.
iScripts eSwap also supports either money based or point based operations. It provides numerous reports for admin, easy custom theme integration, and ability to run the system for swap only or for swap and sale together.
There are many reasons to participate and even own a bartering site. Swapping is a smart way to attain products and services when times are tough. Due to the number of people choosing to “go green” and the hurting economy, people are wising up to the benefits of swapping products, services and even real estate. Businesses are also embracing swapping as an alternative way of conducting business and saving money. Bartering may be used to cut costs or to reduce personal expenses. If there is a surplus of inventory, businesses sometimes trade them for other goods and services. With this type of trade, businesses reserve cash to use for other important things such as debt. The most important aspect of bartering is to trade something (an idea, product or service) you have for something you want or need. This is what makes it such a versatile business model.
The Wall Street Journal has described barter as a “powerful cash-saving tool”. Barter News goes further by stating: “We’re moving into the golden age of barter,” and adding that 600,000 companies in the US alone actively traded both locally and across borders.
Any good or service that is desired by another person can be bartered. From housecleaning and haircuts, to recliners and digital music players, bartering is limited only by your imagination. In 2010, 17-year-old Steven Ortiz made national headlines by bartering a cell phone to start a series of trades that ultimately put him in the driver’s seat of a Porsche. Even healthcare isn’t out of reach: In 2011, Matthew Wagner of Connecticut was able to exchange his photography services for Lasik eye surgery through a barter exchange.The most popular items that can be bartered are personal care services (like haircuts), technology, clothing, toys, gifts and crafts. Another great option is offering trading points or credits. The credits can be used in place of good or services and used later.
A software that makes all of this possible at a reasonable price is iScripts eSwap. Your swapping site may be free or paid depending upon the type of setting you choose. The software allows users to buy, sell and swap goods and services. These can be physical and/or digital products. iScripts eSwap also supports a individualized user wishlists, negotiation capabilities and an editable user guide and Help section. You may also charge your users listing fees, “featured” listing fees, optional escrow fees or monthly subscription. Contact us and try the live demo to start your own successful bartering website!
Check it out today and see the details! View the full list of features and checkout our Live Demo at iScripts eSwap.
iScripts eSwap gives you the ability to own an online business where your users can buy, sell and/or swap goods and services. Ready to create your own barter or swap site? Try it out for yourself right now See the Free Live DEMO: iScripts eSwap
For more information or questions related to how you can take advantage of the platform, contact us at (312) 423-6728 or email to sales@iscripts.com
