Media Release
Partnership Creates New Opportunities for Ontario Business
March 31, 2020(Toronto – March 30, 2020) – The Ontario Chamber of Commerce (OCC) and BarterPay Canada Inc. have launched a partnership to bring the BarterPay trading platform to members of the Ontario Chamber Network during a time when it matters most.
“While this partnership was announced well before Canada felt the impacts of the coronavirus pandemic, the BarterPay platform can provide some relief to our members during this difficult time,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Through the BarterPay platform, businesses can obtain a wide variety of goods and services that they need by trading excess, slow-moving inventory or idle time instead of using cash.”
BarterPay converts the value of traded goods and services into Barter Credits (at fair market value) which allows the business owner to extract the actual things they need from the network versus trading directly one to one. Each Barter Credit is equal to one Canadian Dollar for valuation, accounting and tax purposes. In addition, BarterPay It Forward®, a separate charitable foundation, provides a unique opportunity for small businesses to contribute to community charities and create social impact with the Barter Credits they generate instead of having to dip into their precious cash. To date, over $3M in value has been donated to charities across Canada with the BarterPay It Forward® program.
“We are pleased to offer OCC affiliate members an opportunity to join and utilize our platform at a time that matters most,” says John Porter, BarterPay Founder and CEO. “Our user-friendly system makes it easy for businesses of any size to barter their goods and services for what they need thereby helping to off-set costs and deliver more impact in their communities.”
On February 4, 2020, the Ontario Chamber of Commerce (OCC) and BarterPay Canada Inc. announced their intention to bring the BarterPay trading platform to members of the Ontario Chamber Network.
Learn more at www.barterpay.ca / www.barterpayitforward.org
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About the Ontario Chamber of Commerce
For more than a century, the Ontario Chamber of Commerce (OCC) has been the independent, non-partisan voice of Ontario business. The OCC’s mission is to support economic growth in Ontario by defending business priorities at Queen’s Park on behalf of its network’s diverse 60,000 members.
About BarterPay
BarterPay is a social profit enterprise and Canada’s only national business-to-business barter system headquartered in Hamilton, Ontario. Established in 1996, BarterPay helps businesses obtain the goods and services they need without using cash, instead they barter their idle inventory and/or services. In 2019, BarterPay completed almost $40 million in barter transactions. The network currently represents close to 4000 businesses and over 100 charities in 18 Canadian cities. BarterPay plans to scale to 50,000+ business members and 5000+ charities by 2025 generating over $500M in business transaction volume and more than $100M per year in charitable giving.
For more information, please contact:
Michelle Eaton
Vice President, Public Affairs
Ontario Chamber of Commerce
michelleeaton@occ.ca | 647-261-4594
For BarterPay contact:
Dave Bennett
Xposure PR
dave@xposurepr.com
905-339-6668