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The National Restaurant Association and Fintech announced an alliance to build awareness and improve purchasing and payment efficiency of beverage alcohol. Through the alliance, NRA and Fintech will be implementing a system of electronic funds transfer payment for purchasing.
Fintech currently provides service to more than 260,000 retailer distributor relationships nationwide and is the only EFT provider approved by all 50 state alcohol regulatory agencies, according to a news release.
The NRA's partnership with Fintech will also include member access to in-depth data analysis and automated reporting to help operators understand their alcohol invoices and purchasing habits, provide insight into where operators are spending money, where they have the potential to save, best ways to maximize purchases and eliminate costly expenses for the distributor in delivery time and collections, the release said.
"I believe this strategic alliance demonstrates a mutual commitment to providing businesses enhanced data and services that will help propel their operations forward, while additionally aiding in the awareness and advancement of the industry," said Scott Riley, Fintech CEO. "We couldn't be more excited at the opportunity to work with such a great organization."
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