Simplify the Payment Process in Your Liquor Store

Summer is coming to a close soon. And that means you need to get your liquor store POS ready for fall football season. With access to cash getting more difficult, more consumers are using credit cards. This can increase the burden on small retailers through increased fees. Below, we’ll discuss current payment trends and how to remain compliant while minimizing fees.

Recent Changes in Liquor Store Payment Processing

Payment processing is fast-changing, and keeping up with all of the changes can be time-consuming. Make sure you partner with a provider who will ensure that your business is kept up to date with changing global standards.

• High-Risk Payments Regulations—The industry classifies liquor stores as “high risk,” so ensure your partner keeps you updated and compliant with the latest rules and regulations.
• Machine Learning – Another exciting development is how machine learning revolutionizes real-time fraud detection. Understanding its role in identifying and preventing fraudulent activities is pivotal for businesses relying on high-risk payment processing.
• E-commerce Boom and High-Risk Transactions – Consumers’ comfort level with online buying brings opportunities and challenges for e-commerce platforms. Navigating the intricacies of high-risk transactions in the e-commerce space requires tailored solutions and proactive strategies.
• Customer Education and Awareness – Empowering consumers with knowledge about secure payment practices is a shared responsibility. Investing in educating your customer base can reduce the risk of fraudulent activities. Ask your liquor store POS provider what they can do to help you.
• Data Privacy Concerns – High-risk transactions are statistically more likely result in the loss of personal data. Understanding the regulatory measures designed to protect consumer data is essential for businesses like yours.

Consider Selling Liquor Online

In 2022, retail e-commerce sales amounted to approximately 5.7 trillion U.S. dollars worldwide. This figure is forecasted to grow by 56% over the next years, reaching about 8.1 trillion dollars by 2026. With an excellent liquor store POS, you can increase sales by taking advantage of this trend. You may feel like you already have your hands full running a brick-and-mortar store, and the legal and logistical details of selling alcohol online can seem intimidating at first. That is why we created this guide to help you get started: Discover tips on how to sell alcohol online.

Streamline Operations With Dependable Liquor Store POS & Payment Processing

The General Store is an all-in-one platform. You will never hear us tell you to check with your processor. With us: One call does it all. We offer all the features that you need as  a high-risk merchant to ensure your store is running efficiently:

• Advanced security measures – We protect you against fraud and chargebacks, keeping your business and customer transactions safe. You will enjoy higher chargeback limits, recognizing the increased chance of chargebacks. We will also protect your business from scams commonly associated with liquor stores.
• Unlimited payment processing – Our liquor store POS offers unlimited processing with no limits or hold options. Our transparent services enable you to make informed decisions with clear terms. We ensure you understand all fees, chargeback limits, and financial details. Our solutions are crafted to streamline payments with no hidden fees or long-term contracts
• Over 40 years of industry experience – We offer four and a half decades of combined experience in payment processing. That means we can use our banking partnerships to secure a long-lasting merchant account on your behalf. We are dedicated to delivering a premium solution, with quick approval processes expediting your merchant account set-up.
• Inventory management – Our liquor store POS can streamline omnichannel orders, making orders from multiple sources easy to fulfill and manage. POS with liquor integration work together to keep your inventory error-free
• eCommerce order management – Connect your POS with integrations and manage your online sales from one platform. You no longer have to manually ring up online sales from third-party platforms to keep track of all sales. Tracking omnichannel sales on a single system will improve accuracy and reduce the potential for human error.

Integrate with Providers

Liquor integrations help take your store online and reach customers through an eCommerce website or app. The eCommerce site must have age verification when you sell adult beverages online. By partnering with industry leaders you will know that you have the necessary features.

Not all liquor retail businesses are created equal. Like everything else in life, the best liquor store POS is the one that is tailored to meet your needs. To that end, different providers offer unique features that may work better for your business needs and budget.

For example:

• Flaviar offers a subscription service for consumers. As a retailer, you become a fulfillment partner. The system watches your stock levels and emails your orders for those items you can fulfill and ship locally or deliver.
• Specializing in the wine, spirits, and beer industry, CityHive provides a DTC mobile app, website, and robust engagement tools for finding and keeping customers.
• BottleCaps offers a DTC store-branded mobile app so you can grow your own brand.

Offer Creative Customer Experiences

Competition is fierce. Customers want more than the basics; they want a seamless experience. Options like BOPIS or click-and-collect options are now basic offerings that your customers expect to have.

Offering creative discounts can be a great way to attract and retain customers. An excellent liquor store POS will allow you to offer multiple kinds of discounts such as mix-and-match, BOGO on 50 ml, or subscription options. Your POS should also help you recommend products to your customers based on their purchase history and follow up with educational and entertaining content to build a relationship.

Conclusion:

A robust liquor store POS system with eCommerce is the key to delivering the experience your customers want and expect from you. Streamlining your business operations and growing your business are delightful side effects of giving your customers what they crave. Request a demo with our expert team, and they’ll quickly walk you through how to sell liquor online with our POS system.