How does ITEX work?

The Cashless Marketplace eliminates the restrictions of one-on-one trading where each business must want what the other has to offer (direct trade). An ITEX Marketing Director works with you to bring your company new sales, increased market share and to minimize cash outlay for everyday business expenses. Members use ITEX dollars, instead of cash, to handle their transactions. ITEX acts as a third party record keeper, providing monthly statements, a line of credit and 24/7 web access reflecting all ITEX purchases, sales and a current balances. In a nutshell we help you sell what you have & do so you can buy what you want & need without using cash.

Are there tax advantages in using the Cashless Marketplace?

ITEX income is treated the same as cash income. There are no tax advantages or disadvantages to using ITEX. The Cashless Marketplace should be considered a marketing tool, not a tax tool. Cash purchases that are normally tax deductible as business expenses are also tax deductible when purchased on ITEX. Likewise cash costs that are not deductible are also not deductable in ITEX.

How will my business profit from ITEX?

ITEX produces new business – allowing you to expand your market and maintain your cash-paying customers. ITEX conserves cash. For example, if you owned a hotel that had ten vacant rooms at $100/night, ITEX provides a way in which you can fill your rooms (at your cost on the rooms) and maintain your cash. The same is true for filling empty tables for a restaurant, moving inventory for retailers and manufacturers or increasing billable hours for service business. ITEX provides a competitive edge. ITEX clients are new clients that bypass competing businesses to do business at your establishment while you are maintaining your existing cash clients.

What companies are involved in the Cashless Marketplace?

Globally, over 470,000 businesses are involved in the marketplace. It is estimated that 65% of Fortune 500 companies engage in cashless transactions to one degree or another. If the Cashless Marketplace was a world economy it would be the seventh largest on the planet.

What happens if I can't deliver for period of time?

This is the real power of ITEX. You are always in control. You can always say no. You only offer your goods and services into the system when you are able to deliver.

What does it cost to get started?

Transaction fees only apply when ITEX finds you business or when we help you make a purchase. All membership and application fees can be waved through a generous referral program that returns cash for bringing new members into the network.

Will I be able to find enough to buy?

Every member business is assigned a Marketing Director in our office, who will be in touch with you by phone, fax or email at least once a week. We gather your wishes, wants and needs and monitor over 200 on-line "for sales" in your behalf every day. We do a complete spending analysis with you on your current purchasing as well as projections for your business in the future. You spend your ITEX in many of the same ways you spend cash.

What if I need to make a purchase before I sell something?

Just like a bank, we offer clients a line of credit. Upon qualifying, you can jump start cash building activities immediately.

How should I price my products and services?

Prices quoted to ITEX clients are the same as prices quoted to cash paying customers. Business owners are educated shoppers. ITEX is simply a mode of payment – just like a credit card or cash.

How can I use my ITEX outside of my own city?

ITEX has over 22,000 active business members and over 95 brokers working for you throughout the US and Canada. Unlike ALL other exchanges, there is NO PENALTY for buying anywhere outside your city. For that reason, ITEX does more inter-city tranactions than ALL other cashless marketplaces combined.