Small businesses across the West Midlands can now trade with each other via text message after a local trading network launched its new SMSPOS service.
Members of the Bartercard Birmingham North East Brokerage, which is part of a global network of small businesses, can now process transactions and check their account balances using their mobile phones.
The move should eventually signal the end of the traditional approach, which requires members to fill out paper vouchers.
Over 100 companies across the region can use the system, which they can use to pay for any business expenditure, as long as a fellow member offers that product or service. This could include stationery, new company vehicles, or even foreign business trips.
Bartercard members deal with each other using 'trade pounds' rather than cash ones, which allows them to improve cash flow.
Notable members in the West Midlands include Warwickshire County Cricket Club and Wolverhampton Wanderers Football Club.
Birmingham North East's brokerage director Mike Rees-Boughton said: "Bartercard has spent the last 15 years helping small businesses establish themselves, and the system has been successful around the world. In the UK there are more than 4,000 members, with over 140 of those in the West Midlands.
"Cashflow is crucial for any business, and the network really comes into its own when the economy isn't faring too well. So with all the current uncertainty about the global economy, now is the time to give us a call."
Details are at www.bartercard.com
