payment solutions

Leveraging network effects to mitigate risk

From Jan. 1, 2023, through 2024, TriumphPay has prevented $113.58 million in potential losses through the capabilities of the TriumphPay Network. An upcoming white paper by FreightWaves, in partnership with TriumphPay, examines how the Network identified and prevented potential losses for Network participants.

The Network is modernizing and simplifying freight transactions. By exchanging real-time structured data, the Network reduces inefficiency, automates secure transactions, and provides...

https://www.freightwaves.com/news/leveraging-network-effects-to-mitigate-risk

Last-mile firm Bungii streamlines payments with Branch

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Once a relatively unknown strategy, networks of independently contracted delivery drivers — or what...

https://www.freightwaves.com/news/last-mile-firm-bungii-streamlines-payments-with-branch

Axle Payments rebrands as Denim, raises $126M in Series B

Logistics fintech platform Axle Payments announced Thursday it has rebranded as Denim after declaring the company has closed its $126 million Series B funding round to continue building out payment solutions across the supply chain.

The funding round — led by Pelion Venture Partners with participation from Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Partners and Refashioned Ventures — consists of $26 million in equity financing and $100 million in debt financing. Since...

https://www.freightwaves.com/news/axle-payments-rebrands-as-denim-raises-126m-in-series-b

Keynote: How new credit and working capital models can boost supply chain efficiencies and carrier financial health

This fireside chat recap is from FreightWaves’ Supply Chain Meets FinTech event Wednesday.

FIRESIDE CHAT TOPIC: How new credit and working capital models can boost supply chain efficiencies and carrier financial health

DETAILS: Melissa Forman, president of TriumphPay, speaks with Anne Reinke, president and CEO of Transportation Intermediaries Association, and Mark Baxa, president and CEO of Council of Supply Chain Management Professionals (CSCMP), about the importance of payment visibility...

https://www.freightwaves.com/news/keynote-how-new-credit-and-working-capital-models-can-boost-supply-chain-efficiencies-and-carrier-financial-health

Meet the new middlemen

Logistics and chemicals experts discuss payments technology during FreightWaves' Supply Chain Meets FinTech event.

This fireside chat recap is from FreightWaves’ Supply Chain Meets FinTech event Wednesday.

FIRESIDE CHAT TOPIC: Innovating a commodity: How payments technology is reinventing the $7 trillion chemical sector.

DETAILS: Logistics and chemicals experts discuss how the speed and flexibility of payments technology can benefit a company.

SPEAKER: David Haase is the president at ChemDirect.

BIO: Haase has more than 15 years of experience in finance, business development marketing and strategy. He has also...

https://www.freightwaves.com/news/meet-the-new-middlemen

TriumphPay Audit onboarding customers; platform reduces industry payment inefficiency

TriumphPay announced that in January, the payment platform division of TBK Bank, SSB, had successfully beta tested TriumphPay’s full open payments network, leveraging recent technology investments to provide an undisclosed number of remittances between two payors and five payees from initial invoicing to final payment.

After TriumphPay acquired cloud-based automation software Hubtran in April for $97 million, its plan was to use that back-office technology to create a single, integrated payments...

https://www.freightwaves.com/news/triumphpay-audit-onboarding-customers-platform-reduces-industry-payment-inefficiency

Acuitive helps global shippers get freight bills right before they pay

The logistics industry is known for its volatility, with markets shifting in response to everything from natural disasters to consumer mindset changes. This inherent changeability, coupled with the ongoing capacity crunch, makes invoice auditing more important – and more challenging – than ever for shippers. This is especially true in international shipping.

Companies rely on a wide variety of partners to handle their invoice auditing, including brokers and third-party freight pay companies....

https://www.freightwaves.com/news/acuitive-helps-global-shippers-get-freight-bills-right-before-they-pay

4 reasons why factors turn to TriumphPay

By Tim Valdez, senior vice president, factor leader at TriumphPay

The trucking industry is moving at a pace faster than most could have imagined a little over a decade ago. This has given way to an arms race of sorts, as companies push for the latest in FreightTech to gain an advantage in the ever-changing market.

The competitive nature of this industry has greatly compressed margins. Factors wanting a competitive edge are looking internally at the back office to maximize efficiency, but playing...

https://www.freightwaves.com/news/4-reasons-why-factors-turn-to-triumphpay

Relay for LTL Carriers starts to speed up payments

Relay Payments launches a new service for LTL carriers

When it comes to payments, less freight can sometimes mean more problems. That’s especially true for less-than-truckload carriers, which are required to manually reconcile payments for each load on their trucks, which of course vary wildly in shape and size.

Fintech provider Relay Payments is hoping to make the lives of its LTL customers easier. The Atlanta-based company on Monday launched a payments solution, Relay for LTL Carriers, that automates the allocation of lumper fees across multiple...

https://www.freightwaves.com/news/relay-for-ltl-carriers-starts-to-speed-up-payments

Shifl releases fintech product for instant payments

International freight forwarder Shifl announced Thursday it is releasing a fintech solution, shifl.capital, to enable the sending and receiving of instant and free digital payments.

Founder and CEO Shabsie Levy told FreightWaves that providing this service will help eliminate another obstacle that challenges global shipping, as many payment processes can take up to five days to be processed for freight to be released.

“Our industry revolves around payments,” said Levy. “Sometimes they get an ETA...

https://www.freightwaves.com/news/shifl-releases-fintech-product-for-instant-payments

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