In 2018, beer distributors are looking for ways to streamline payments and boost operation efficiency. Throughout the rise of mobile EFT payments has grown, the number of beer distributors who use EFT has increased over the past few years. Below are 5 benefits of beer EFT payments to look out for in 2018.
1. EFT credit definitions vary by state.
Distributors must be aware of credit definitions established by their state liquor boards and stay on top of all state and industry regulations.
2. Even small customers may be eligible for beer EFT payments.
The convenience of EFT payments is not reserved for the largest customers. Distributors can offer EFT payment options to virtually all customers regardless of size.
3. Paying by EFT helps retailers with multiple locations streamline their payments.
Because the same payment methodology and invoicing process can be utilized with all locations, retailers can funnel all beer payments through one process.
4. Beer distributors can choose from a variety of EFT payment programs.
Local banks, brewers and third parties all offer EFT payment programs. This provides distributors with a variety of beer payment options.
5. The only thing that retailers need to pay by EFT is a bank account.
Some retailers are surprised to hear that they do not need any special software to make EFT payments. The only requirement any business needs is a bank account.