The Pegasus Exchange is a 'market place' that enables people, community organisations and small businesses to trade goods and services without having to use $NZ. The exchange is set up as a membership organisation with a focus of serving Canterbury's urban and rural areas.
PegX allows people to participate in a market without having to be able to access conventional money (NZ$), this enables trading which increases social connectedness; and the skills gained through trading are linked to increased self-sufficiency and improved self-esteem.
There is no interest calculated on a PegX account, and the accounting units (Pegs) don't lose value through inflation. This means that you don’t pay interest when your account balance turns negative and you don’t have to build the cost of paying interest into the price of what you sell, so things are cheaper. Any spending in Px will free up additional $NZ!
PegX is a local (Canterbury) exchange market, encouraging 'buy local' and local production, so fossil fuel use for long distance transport is minimised. PegX doesn't require the use of an interest-based currency (like the NZ$) and so sidesteps the growth for growth’s sake imperatives built into the mainstream economy, which tend to impact negatively on biodiversity and sustainability.