Company announces expansion of ProviPay to simplify payments between licensed retailers and distributors
CHICAGO, May 2, 2023 – Provi, the largest online marketplace for the beverage alcohol industry, today announced the expansion of its digital solutions with its electronic payment offering, ProviPay. Since the initial Colorado launch of ProviPay, the company has invested in significant product development to enhance the payment experience between on- and off-premise retailers and their distributors.
Provi also announced it had evolved ProviPay to adhere to state-specific payment regulations and plans to roll out the solution in select markets throughout the U.S. later this year. The company stated that ProviPay is adaptable to meet market regulations for both Cash-on-Delivery (COD) and Credit Term Markets.
“We’re excited to bring an end-to-end online solution for our retail and distributor customers with the expansion of ProviPay,” stated Taylor Katzman, Provi’s Founder and CEO. “Solving for the burdens and challenges our customers face with our digital solutions enables them to grow their business and generates tremendous impact for the entire beverage alcohol industry.”
ProviPay was introduced to Provi marketplace users to make invoice tracking and payments more streamlined. The solution enables retailers to view invoices and submit payments to multiple distributors online in one place, rather than keeping track of paper invoices for their beverage orders and issuing checks to their distributors. The company shared that retailers who use ProviPay spend on average 23% more with partner distributors on Provi’s marketplace than those who do not.
“ProviPay has been an essential tool as we shifted our operations towards digital, particularly in a post-pandemic world,” stated Marc Gitlin, Owner, Nissi’s Entertainment Venue & Event Center. “As we reopened our business, making and managing payments online through our key wholesale partners has given us the ability to streamline our alcohol ordering process. We look forward to more distributors adopting this solution in the future.”
Since the launch of its digital payments solution, Provi launched new features for a frictionless and compliant payment experience between retailers and distributors. ProviPay retail users can now view invoices and invoice details, sync multiple bank accounts, pay their distributors with a click of a button, schedule payments for the future, set up autopay, and even view and apply available credits to invoices. With ProviPay, distributors can actively manage invoices from orders placed on Provi’s marketplace and view invoice payment statuses in real-time, all in one location. Distributors utilize ProviPay to reduce time spent on payment collection, cut down on fraud risks, and prevent bounced checks.
“Payments have always been a pain point for our organization and ProviPay has provided our reps with an easier way to collect payments from our retail customers,” stated Colorado Craft Distributors Owner and CEO, Tom Jasko. “Moving the invoicing process online gives our sales reps upwards of 20% of their time back to sell and foster relationships with their customers.”
To learn more about Provi and stay updated about its newest offerings visit: https://www.provi.com/
About Provi
Provi is the largest online marketplace that simplifies the complex process of ordering wholesale alcohol by connecting buyers, distributors and suppliers. Active in key markets throughout the U.S., Provi’s robust, online marketplace improves communication and efficiency for on- and off-premise buyers, distributors and suppliers. Founded in 2016 and headquartered in Chicago, Provi received Built In Chicago’s Best Places to Work recognition in 2022. In 2022, Provi joined forces with SevenFifty, which included the Beverage Media properties with industry legacy dating back to the repeal of prohibition, along with SevenFifty Daily, an award-winning industry publication discussing the beverage alcohol business and culture.
