Groups Aim to Increase Electronic Payments in the Beer Industry
ALEXANDRIA, VA - The National Beer Wholesalers Association (NBWA) and Fintech today announced a strategic partnership aimed at growing the number of beer industry payments conducted via electronic funds transfer (EFT).
As part of the partnership, NBWA member companies are eligible for discounts on their annual fees paid to Fintech and will enjoy quarterly rebates on new business they refer. Additionally, NBWA member companies who join Fintech in the future will enjoy discounts on their initial subscription costs. Qualified distributors also will benefit from rate locks on their transaction fees. Finally, as Fintech expands its already significant data services, the two organizations will work together closely to generate industry data.
"For years NBWA has been promoting the use of EFT as a way to meet retailer needs,” said NBWA’s Senior Director of State & Industry Affairs Dave Christman. "Through this partnership, we’re hopeful distributors will increase the amount of electronic payments they collect to the mutual benefit of their business as well as their retailers."
Fintech, a leader in providing electronic data and payments to the alcohol industry, has been a strong advocate of the NBWA and a regular participant at the association’s annual convention and trade show. Fintech currently provides service to more than 300,000 retailer-distributor relationships nationwide and is the only EFT provider that is compliant and available for use in all 50 states. With more than 2,300 alcohol distributors utilizing Fintech's system nationwide, the potential benefits of this partnership are limitless.
"I believe this strategic partnership demonstrates a mutual commitment to providing the beverage alcohol community enhanced data and services that will assist in the creation of a 100 percent electronically-paying customer base, which will in turn aid industry growth and streamline efficiency for both distributors and their retailers,” said Fintech CEO Scott Riley. “We couldn't be more excited at the opportunity to work with such a great organization."
The National Beer Wholesalers Association (NBWA) represents the interests of America’s 3,300 licensed, independent beer distributor operations in every state, congressional district and media market across the country. Beer distributors are committed to ensuring alcohol is provided safely and responsibly to consumers of legal drinking age through the three-tier, state-based system of alcohol regulation and distribution. To learn more about America’s beer distributors, visit www.AmericasBeerDistributors.com. For additional updates from NBWA, follow @NBWABeer on Twitter, watch NBWA videos on www.youtube.com/NBWABeer and visit www.facebook.com/NBWABeer.
Fintech, a U.S. Chamber of Commerce Best Business of the Year winner located in Tampa, Florida, provides electronic data and payments to the alcohol industry, eliminating the need to pay alcohol purchases by cash, check, or money order and simplifying data into actionable reporting that helps businesses make smarter purchases. Fintech is the only EFT provider that is compliant and available for use in all 50 states and now works with more than 2,300 distributors to serve over 300,000 relationships nationwide. For more information visit www.fintech.netand follow us on Facebook, Twitter, LinkedIn and Fintech’s Blog.