Alcohol Sales Merchant Accounts we are committed to assisting you in relieving daily stressors as well. This is why we offer top-notch merchant service accounts specifically designed for alcohol businesses.
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To establish a beer, wine, or spirits operation in the United States, it is essential to engage the services of a payment provider who will assist in setting up a merchant account. This specialized financial account is designed to facilitate the acceptance of customer payments.
Our team comprises skilled and committed account managers who are prepared to assist you in identifying the most suitable payment solutions for your unique business operations. They will collaborate with you to tailor your merchant account to accommodate alcohol purchases, integrating seamlessly with your business. The best part is that once your application is approved, you can start processing payments promptly.
Our company assists businesses involved in the production or sale of alcohol products, operating within the guidelines set by state regulations. The range of supported products encompasses:
Alcohol merchants are frequently perceived as high-risk by financial institutions, payment processors, and regulatory bodies for various reasons.
Legality:
Enforcing age restrictions on alcohol and implementing age verification protocols can be quite challenging. While alcohol can be purchased online in 48 out of 50 states (with Alabama and Utah being the exceptions), numerous state and local statutes regulate the type, location, day of the week, and quantity of alcohol that can be bought.
Fraud:
The alcohol industry is susceptible to frequent instances of fraud, including credit card fraud, as well as attempts by underage consumers to make both local and online alcohol purchases.
Chargebacks:
Disputes over chargebacks are the primary cause of the cancellation of merchant accounts. Chargebacks are not only costly and time-consuming but also deter many financial institutions. Consequently, industries with a higher likelihood of chargebacks, such as alcohol, tobacco, and other controlled substances, are considered more high-risk.
Other liabilities:
These liabilities encompass alcohol-specific licensing requirements, tax collection, and penalties for non-compliance.
Due to these inherent risks, alcohol merchants often encounter difficulties in obtaining payment processing services, loans, and insurance coverage. Mainstream payment service providers frequently terminate accounts for businesses involved in alcohol sales.
By partnering with a specialized high-risk merchant service provider such as Avid, alcohol merchants can overcome these challenges and set themselves up for success. We can assist you in demonstrating strong compliance, implementing robust age verification measures, establishing effective fraud prevention strategies, and building a solid track record of responsible alcohol sales.
All of these efforts will help you secure payment services and effectively mitigate the risks mentioned above.
The necessary documentation required to establish an alcohol business merchant account includes:
1. A government-issued photo identification for verification purposes.
2. A signed merchant application to ensure the security of alcohol processing.
3. Either a voided check or a bank letter to facilitate the application for alcohol credit card processing.
4. Three months of bank statements to demonstrate financial stability and credibility.
5. Three months of processing statements to provide a comprehensive overview of alcohol transaction history.
6. A current certificate of analysis (COA) for alcohol products to ensure quality and compliance.
7. A list of suppliers for your alcohol products, serving as a checklist to ensure a reliable and consistent supply chain.
Online
Our cutting-edge payment gateway provides all the tools you need to securely accept online payments for your eCommerce business. With a focus on safety and convenience, our virtual terminal allows you to easily collect customer payment information through phone or email. Simplify the process of accepting card-not-present payments with our user-friendly virtual terminals.
In Person
If you run a physical alcohol store, our retail payment solutions offer a range of stationary and mobile card readers that are simple to use. Whether you have a kiosk or a storefront, we can help you seamlessly accept payments in person!
Over the Phone
Give your customers the option to make secure payments over the phone with our virtual terminal. Easily collect payment details via phone or email with our intuitive interface, making it a breeze to accept card-not-present payments.
Navigating the challenges of industries under government regulation, such as alcohol sales, can be daunting.
Having a qualified account representative on your team can provide you with the necessary guidance to mitigate risks effectively.
Avid offers a wide range of integrations that seamlessly work with your current tools and systems. From top payment gateways to popular eCommerce platforms, website platform integrations, and compatibility with your existing accounting software, we have it all. If you can’t find your preferred integration, feel free to reach out to us. Our goal is to assist you in streamlining your merchant operations, payment systems, and business finances, allowing you to concentrate on future endeavors. Contact us today for more information!
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