"Helping The World DISCOVER THE WAY of LOVE!"
FOR IMMEDIATE RELEASE
BRADENTON, FL (January 31, 2016) - Virtual Barter, one of the largest online trade and alternative currency platforms, announced that Vineet Katial has invested and joined its board of directors.
“Mr Katial, an expert in the financial services industry and a Charter member of TIE and Member of TIE Detroit Angles, brings immense value to the organization and envisions a major shift to non-cash and virtual transactions in the ecommerce space.“ says Bruce Kamm Founder of Virtual Barter.
Virtual Barter enables companies to receive full value for the sale of their products and services and in return, have the ability to purchase other required products, services, media and travel without the need of paying with cash. As an example, hotels and restaurants can sell vacant unsold room nights or unsold dining capacity at full value, and then use the additional trade revenue to pay for the products and services they need to run the hotel or restaurant. Taking the cash component out of transactions makes the friction cost zero. This makes ecommerce more efficient and the adoption rate increase at a very high rate. It’s a win-win!
Most trade transactions are done online and non-cash transaction velocity is increasing. In contrast, with cash transactions, the perceived value of each transaction seems to be decreasing due to discounting and group buying sites, which is contrary to all economic indicators saying that the economy is growing.
“Over 100,000 companies have access to the inventories available in Virtual Barter’s global trade marketplace and trade exchange network featuring close to half a billion dollars in product and service offers available for trade. And the value of available inventory increases as more companies join” adds Bruce.
As per a Cap Gemini report, non-cash is growing faster than the GDP generating 358 billion transactions a year, which increased to 389.7 billion transactions in 2014, an 8.9% growth rate.
“I am very happy to be a part of this disruptive ecommerce platform. This trend is here to stay and an early entrant who has establish this large eco system is poised to dominate the ecommerce market” says Vineet.
About Virtual Barter:
Virtual Barter is a business-to-business, Internet e-commerce Company that launched its seamlessly integrated family of online exchange services in 2015 to establish a new global trade marketplace for businesses to easily engage in real-time online trade commerce. Through its proprietary vBarter software, it processes trade transactions over the Internet or at the point of sale between member companies, even if they are members of different exchanges. A growing number of independent trade exchanges with about 100,000 companies that trade through them, have access to Virtual Barter's global trade marketplace and trade exchange network featuring close to a half billion dollars in product and service offers available for trade. With Virtual Barter's software and trade exchange management system, independent barter exchanges maintain their own brand, identity and local content, while offering their members the benefits of interexchange online trading with thousands of businesses.
With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in an investment, please see the company's website(s), and/or contact the company.