FinTech Financial Transmission Network, Inc. (FTNI) on Thursday (Sept. 30) announced that beverage-focused tech platform Vermont Information Processing (VIP) will use its ETran Mobile payment services to power VIPPAY, its mobile payment offering for brewers, distributors, wineries and soft drink bottlers.
VIP uses route accounting, sales execution, warehouse management, delivery, financials, reporting analytics and more to help business run more smoothly, with more than 50% of U.S. beer volume supported by the platform.
VIP’s partnership with FTNI means the company can deliver advanced payment acceptance and cash application services in the VIPPAY portal.
“The addition of advanced mobile payment acceptance capabilities within VIPPAY adds valuable new tools to help our customers accelerate the order-to-cash lifecycle and streamline accounts receivables operations directly within the VIP route accounting system,” said Dan Byrnes, president of VIP.
“FTNI is a recognized A/R technology leader within the beverage distribution industry, and we’re excited to partner with them to bring these powerful solutions to our customers,” he said.
Users can embed payment acceptance capabilities into existing interfaces and apps using ETran, which works with existing banking institutions, merchant processor relationships online and mobile applications and back-office systems.
“Check payments continue to be one of the most received, and most time-consuming payment methods handled by B2B A/R departments,” said Zac Robinson, senior vice president of FTNI, in the joint announcement.
“FTNI is proud to partner with VIP as they expand their VIPPAY mobile check acceptance capabilities to help their customers more efficiently capture, process and apply check payments accepted in the field,” he said.
Related: The Bring-It-to-Me Economy Comes for Alcoholic Beverages with DoorDash, Uber
Earlier this month, DoorDash announced it is adding beer, wine and spirits to its delivery marketplace in 20 states, D.C., Canada and Australia.
DoorDash has also incorporated its alcoholic beverages into the DoubleDash feature in select markets, allowing consumers to add items from nearby stores to their restaurant orders.
Earlier this year, Uber announced that it would acquire alcoholic beverage delivery platform Drizly, though the Federal Trade Commission is currently investigating this deal.
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