American Beverage Licensees and Fintech Announce Strategic Partnership
Partnership provides a secure, affordable way for ABL members to pay for alcohol deliveries electronically
May 27, 2015 – Bethesda, MD – American Beverage Licensees (ABL) and Fintech announced today that they are launching a strategic partnership to provide a secure, affordable and hassle-free way for ABL members to pay for alcohol deliveries electronically and improve the beverage alcohol purchasing process. Under the program, ABL members will be eligible for a discount on Fintech’s electronic payment and data solutions systems.
“By working with Fintech and making it cost-effective for ABL members, we are leveling the playing field for independent licensees to afford an electronic payment solution that will provide custom data and analytics on their alcohol spend, as well as integrate directly with their back office and accounting systems,” said ABL Executive Director John Bodnovich. “With Fintech, bar and package store owners can be confident of a seamless payment process and will now have the tools to measure and assess their purchasing strategy to strengthen their bottom line.”
As the leading provider of electronic data and payments solutions to the beverage alcohol industry, Fintech has worked closely with ABL to develop solutions that are customizable and will fit the business operations of each and every ABL member. Fintech currently provides service to more than 325,000 retailer-distributor relationships nationwide and is the only electronic funds transfer (EFT) provider compliant and approved in all fifty states.
In addition to providing beverage alcohol retailers with a secure, hassle-free way to pay for alcohol deliveries electronically, Fintech uses its more than two decades of experience in the beverage alcohol industry to ensure that payments are made according to every invoice due date and in compliance with all state regulations nationwide. This reduces the need for licensees to worry about approaching due dates or late payments.
“After spending the past 24 years specializing exclusively in the payment and data of alcohol invoices, we’re extremely pleased to be partnering with such a distinguished and respected industry association. This is a fantastic opportunity to provide substantial value added benefits to both sides of our client and member bases.” said Scott Riley, Fintech CEO.
Beyond the payment process, Fintech will allow ABL members to track purchasing data so that they know exactly what they’re paying for. Fintech’s automated notifications provide a detailed view of every alcohol invoice and credit, and their advanced reporting can provide ABL members with the necessary tools to identify top selling products and potential savings.
“Licensees know that they are operating in a world increasingly driven by data,” said Bodnovich. “ABL’s partnership with Fintech will allow members utilizing the software to analyze in-depth reports, numerous alcohol invoices, purchasing habits, as well as financial spend and ways to save.”
For more information, visit: http://go.fintech.net/ABL
A .pdf of this press release can be found here: ABL and Fintech Announce Partnership
American Beverage Licensees is the preeminent national trade association for beverage alcohol retailers. Direct retail beverage alcohol sales in the United States generate as many as 1.77 million well-paying jobs. ABL’s thousands of on-premise and off-premise licensee members are independent and often family-owned establishments. The beverage retailing industry pays over $19.3 billion in federal taxes and $16.9 billion in state and local taxes. To learn more about ABL, visit www.ablusa.org.
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 325,000 relationships nationwide.