Configuring Cyclos 4 for Barter Exchanges

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Configuring Cyclos 4 for Barter Exchanges

Post by speterson »

I am using Cyclos to set up a barter exchange and want to implement a very common practice: For any purchase in Trade $, the buyer is automatically charged a % fee in real $. (This fee goes to the exchange). While I was able to set up the currencies, the necessary accounts, the transfer type that allows one member to transfer money into another members account, and an automatically created transfer fee in real$; I cannot seem to show the transaction fees involved without showing too much confusing information to the user.

If I have no product associated with the Member Fee account, then the fees are not shown at all. This would not be acceptable. However, if I add a product for the member fee account and set it to 'Always VIsible', then the member fee becomes too intrusive. In this situation, when a member clicks the 'Payment to User' button, they are given an option for the payment to be the fee account or their trade account(?) That does not make sense either and is quite confusing.

So how do I remove the 'Fee' completely as a 'from' option when paying a user while still showing members what fee they will be charged? I would think that since the only transactions to the 'Fee' account would be generated transfers, that the user would not be given the option to select this account.

Thanks for any light you can shed.

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Joined: Thu Mar 05, 2015 1:21 pm

Re: Configuring Cyclos 4 for Barter Exchanges

Post by wwnik »


I am seeking to do the same thing.

I am trying to use Cyclos as a barter exchange and I need to be able to charge a transaction fee on each sale between members. I want to set each trade as 5% (real dollars) each time a transaction is made between my members and then have that transaction fee directly deposited into my stripe account.

Can this be done, please advice on how to get this feature functional.

Many thanks,

Posts: 31
Joined: Wed Nov 21, 2012 8:36 am

Re: Configuring Cyclos 4 for Barter Exchanges

Post by Mathiaskei »

Yes this can be done successfully with Cyclos 4 System. But it is a complex job and time consuming. You will need to configure currency types, configure account types, configure groups and finally configure transaction types plus or minus account fees. You can always take time to learn the system on your own or rather hire some one capable of doing it for a small fee depending on what you want to be done. Personally it took me six months to learn cyclos system and I am still learning more important features

Kind regards
Dr Katura Mathias Malilah
System Administrator
MathiPay Exchange
Mbeya, Tanzania

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