Tapped In Sales #20: The Surprising Benefits of Going 100% EFT—Are You Ready to Make the Switch?

In this episode of the Tapped In Sales podcast, Bud and Mikey are joined by Eric Kiser from fintech to discuss the high-level overview of what fintech is and what EFT payments mean to the beer industry. They talk about the benefits of EFT, such as increased safety, efficiency, and cost savings. They also discuss the legislative and regulatory considerations behind EFT, including the movement towards 100% EFT in states like Michigan and California. Eric shares best practices for distributors looking to promote EFT and talks about the future of financial enhancements in the industry.

Takeaways
EFT payments provide increased safety, efficiency, and cost savings for the beer industry.
The movement towards 100% EFT is growing, with states like Michigan and California leading the way.
Distributors can promote EFT by educating retailers about the benefits and overcoming objections.
Best practices for promoting EFT include providing training, using customer lists, and offering incentives.

Chapters
00:00 Introduction and Overview of Episode
06:14 Understanding EFT Payments and fintech
12:37 Sales Reps talking to the benefits of EFT with retailers
17:38 Breaking news in the EFT World
18:35 Michigan and California: Leading the Way in EFT Payments
24:32 Overcoming Objections and Educating Retailers on the Benefits of EFT
30:35 Best practice to expand EFT at my operation
34:52 Don't Bet on Golden Tee with Eric