February 17, 2021 by Inside Logistics Online Staff – Retail Council of Canada (RCC) and BarterPay Canada Inc. are bringing the Retail-BarterPay trading platform to retailers across Canada.
Through the platform, retailers will be able to trade excess or slower-moving inventory at no discount. This can be in the form of hard goods or services that are monetized into BarterPay Barter Credits. One BarterPay Barter Credit equals one Canadian dollar for valuation, accounting and tax purposes.
The credits are recognized as a cash equivalent by the Canada Revenue Agency (CRA).
“Retailers across Canada are entering the most challenging retail environment ever experienced. Many are showing incredible creativity in how they are rethinking their businesses,” said Diane Brisebois, president and CEO Retail Council of Canada.
“RetailBarterPay is an excellent complement to retailers’ efforts as it allows them to tap into their existing idle inventory at full margins to re-invest into other areas of their business where they need products and services right now.”