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[Upcoming Webinar] Selling Beer, Wine, and Spirits: Understanding Alcohol Payment Regulations in the U.S.
Understanding alcohol payment regulations is not rocket science, it just takes a little time to break it down. Register for our upcoming webinar to learn more.
One of the greatest banes to those in the United States alcohol industry are the many regulations for conducting alcohol sales. Small businesses and large businesses alike are subject to an array of laws that seem to stack up against them. Even with the dawn of electronic payment technology there are a number of processes and regulations that slow down businesses and require extra care for adherence to governing law. However, understanding alcohol payment regulations in the U.S. is not rocket science, it just takes a little time to break it down and find out what you need to know.
Alcohol Payment Regulations: An Overview
Alcohol payment regulations in the United States are a mixed bag of laws that cling to the obsolete prohibition era. Though the Federal Alcohol Administration (FAA) provides a great deal of these regulations, there are many additional provisions in place on a state-by-state basis. For example: some states only accept cash on delivery (COD) payments while some offer an assortment of payment options depending on whether you are dealing in beer, wine, or spirits.
It's Easier Once You Break It Down
Sorting through and understanding the rules imposed on the alcohol industry presents a harrowing ordeal in the minds of most industry professionals. The truth is, understanding regulations for beer payments is not nearly as complicated as it seems. With minimal research and a few simple breakdowns it's easy to see what's what. Start from the top and work your way down, examining federal regulations that affect the entire country first. Understand these and you create a foundation of understanding that makes up the basis of all regulations.
Getting Familiar With State Regulations
Once you've familiarized yourself with federal laws, it's important to take a look at the individualized stipulations that exist in each state. Now, depending on where you conduct your business, make sure to understand the specific laws in the states where you operate. There are many states that follow similar laws when it is broken down into different groups. If a state you do business with has separate laws for beer, wine, and spirits, take note of the ones which you will have to follow and keep track of them in those categories.
Categories For Clarity
By approaching regulations in smaller categories you can develop an understanding of where overlaps exist and where more stringent efforts to comply may be necessary. Of course, if you do business in multiple states, or lack the resources to devote extra time to research and regulation management, there is always the option of outsourcing your needs for beer payments. This is a great opportunity for retailers because it alleviates the responsibility of tracking down these regulations and making sure everything is in compliance with state-specific laws. Outsourcing alcohol payment also eliminates any poor estimations regarding the correct process for compliance. This ensures that your business meets each standard by default.
iControl is particularly well-versed in U.S. regulations with authorization to practice business in all fifty states and on-going payment processing in forty. Our mobile B2B payment solutions include electronic funds transfer (EFT) payments and the knowledge that your business is following the correct regulations. iControl supports businesses with both COD and term states, handles chains and independent accounts, and is compliant in regulations in all states. As a growing company, we are constantly improving our customer support and overall service.
We'll be sharing our knowledge on these regulations and offer an opportunity to learn more about alcohol payment regulations and how it affects your business during our upcoming free webinar.
Join us for a free webinar "Selling Beer, Wine, and Spirits: Understanding Alcohol Payment Regulations in the U.S." on Wednesday, October 12, 2016 at 2:00 pm EST. We will cover the rules and regulations you need to be aware of and go through your options for maintaining compliance with alcohol payment regulations and solutions.
Click here to register for the free, 30-minute webinar, complete with an opportunity to talk to an alcohol payments expert.
Update: This webinar has passed, click below to access the recording of the session.