Park City, Fintech Establish Strategic Relationship

Expect complementary strengths to fuel growth in c-stores, foodservice

Park City, Fintech technology (CSP Daily News / Convenience Stores / Foodservice / Beverages)

SALT LAKE CITY & TAMPA, Fla. -- Park City Group, a cloud-based software company, and Fintech, a leading provider of electronic funds transfer (EFT) payment for alcoholic beverages, have announced a strategic relationship to cross market their complementary strengths, technology and expertise.

Park City Group will offer Fintech's electronic payment and data services to its retail customer base. Fintech works with more than 2,300 distributors to provide electronic payment services to more than 300,000 customer relationships in the grocery, convenience store, foodservice and other retail markets. Fintech provides direct insight to the alcohol industry on purchasing data, simplifying invoice information into actionable reporting that helps retailers make smarter purchases.

Fintech has agreed to market Park City Groups' automated pricing and supply chain management services to its distributors and retailers across the alcohol industry.

"Partnering with Fintech, the leader in data and payment services to the alcohol industry underscores our commitment to find the best solution for our retailers and suppliers," said Randall K. Fields, Park City chairman and CEO. "We look forward to taking our complementary services and preferred pricing into convenience stores and foodservice, and expanding our footprint."

Scott Riley, Fintech's CEO, said, "We are thrilled at the opportunity to expand our OneSource data and payment solution to include Park City Group's supply chain management, visibility and automated pricing. We're confident this relationship will provide enhanced intelligence and analytics that simplify business operations and increase operational efficiencies for our mutual clients."

Salt Lake City-based Park City Group is a software-as-a-service (SaaS) provider that brings visibility to the consumer goods supply chain, delivering actionable information that ensures product is on the shelf when the consumer expects it.

Fintech, based in Tampa, Fla., provides electronic data and payments to the alcohol industry, eliminating the need to pay alcohol purchases by cash, check, or money order and simplifying data into actionable reporting. Fintech is the only EFT provider that is compliant and available for use in all 50 states, it said, and now works with more than 2,300 distributors to serve more than 300,000 relationships nationwide.