Payments

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

Triumph’s open-loop system hits a milestone, even as payments’ EBITDA loss widens

In a quarter in which Triumph Financial recorded a better-than-forecast performance by some measures, the company’s open-loop network also hit a milestone of another sort.

According to SeekingAlpha, Triumph’s (NASDAQ: TFIN) GAAP EPS was 67 cents per share, and that beat consensus by 3 cents. Fourth quarter revenue of $112.84 million beat forecasts by $2.68 million. 

The company’s stock, down about 47% in the last year, responded positively, moving up from about $52 at the close Wednesday, when...

https://www.freightwaves.com/news/triumphs-open-loop-system-hits-a-milestone-even-as-payments-ebitda-loss-widens

RoadSync pushes payments platform into maintenance shops with Fullbay deal

RoadSync, a trucking payments platform for a wide variety of payment methods, is expanding its footprint in payments for truck maintenance.

Its new partner is Fullbay, whose primary product is a management platform targeted at repair shops.

The basic idea behind RoadSync, according to CEO Robin Gregg, is that “it makes it easy for merchants to accept all those payment types,” as she ticked off a variety of ways that payment might be made by a trucking company to vendors. RoadSync backs up those...

https://www.freightwaves.com/news/roadsync-pushes-payments-platform-into-maintenance-shops-with-fullbay-deal

Viewpoint: More efficient payments today, more efficient supply chains tomorrow

This commentary was written by Sven Hinrichsen, senior vice president of strategy for Corpay Payables. The views expressed here are solely those of the author and do not necessarily represent the views of Modern Shipper or its affiliates.

The pandemic accelerated the digitization of B2B payments. Companies are seeing new cost and process efficiencies from their digitization efforts, especially with travel & expense (T&E) cards and vendor payments. But what’s most exciting are the new...

https://www.freightwaves.com/news/viewpoint-more-efficient-payments-today-more-efficient-supply-chains-tomorrow

Fleetcor’s momentum continues through second quarter

A red truck is behind a diesel fuel pump.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Wednesday reported revenues of $861.3 million, a 29% increase compared to $667.4 million in the second quarter of 2021.

The Atlanta-based company experienced 30% year-over-year (y/y) increases in revenue the previous two quarters.

“We reported an exceptional quarter, with continued momentum leading to revenues and adjusted net income per share growth of 29% and 32%, respectively,” Ron Clarke, Fleetcor chairman...

https://www.freightwaves.com/news/fleetcors-momentum-continues-through-second-quarter

Consider the data security of your payment process

By TriumphPay Chief Technology Officer Mike Mangino and Chief Product Officer Garrett Wolfe

In the United States, the trucking ecosystem is based on a trust-but-verify model when it comes to ensuring that services are completed successfully within the bounds of an agreement. Further, constituents have historically remained very guarded of their proprietary data, for good reason. Many of the inefficiencies in the ecosystem are rooted in these two truisms.  

Factors must trust that the invoices...

https://www.freightwaves.com/news/consider-the-data-security-of-your-payment-process-2

Improving carriers’ cash flow with Branch — Taking the Hire Road

While many trucking companies still use paper checks and automated clearing houses, some are moving to a more cost-effective and convenient way to send truckers their money. Branch offers a free digital payment process that gives drivers quick access to their earnings.

The app provides inclusive financial services to both W-2 and 1099 workforces by functioning as a digital wallet for drivers to access their funds in seconds. 

Many trucking companies are still seeing turnover percentages in the...

https://www.freightwaves.com/news/improving-carriers-cash-flow-with-branch-taking-the-hire-road

Fleetcor revenue increased 30% YOY for 2nd quarter in a row

A close-up of a diesel fuel pump show the price of fuel.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Thursday reported a 30% year-over year increase in revenue from $609 million in the first quarter of 2021 to $789 million in the first quarter of 2022. The company reported a similar 30% year-over-year increase in the fourth quarter of 2021.

“We reported an outstanding first quarter, with strong core trends driving revenues and adjusted net income per share growth of 30% and 29%, respectively,” Ron Clarke,...

https://www.freightwaves.com/news/fleetcor-revenue-increased-30-yoy-for-2nd-quarter-in-a-row

Fleetcor’s Q4 revenue increased 30% YOY

Fleetcor reported fourth quarter earnings for 2021.

Global commercial fuel card and business payments company Fleetcor Technologies Inc. on Tuesday reported total revenue for the fourth quarter grew 30% year-over-year to $802 million. Net income increased to $225 million for the quarter, a 7% year-over-year rise.

Fleetcor’s adjusted earnings per share (EPS) reached $3.72 for the fourth quarter, increasing 24% year-over-year from $3.01. The company’s retention rate reached 93%.

“Our fourth-quarter results came in ahead of our expectations we gave...

https://www.freightwaves.com/news/fleetcors-q4-revenue-increased-30-yoy

B2B e-commerce payments remain stuck in the past

Balance seeks to revolutionize B2B ecommerce payments

Millennials now make up more than one-third of the workforce. Defined as those born between 1981 and 1996, they are the first generation that has been raised entirely on computers. And they are quickly moving into middle management and even senior management positions with companies.

The generation that powered the business-to-consumer (B2C) e-commerce boom is rapidly changing the business-to-business landscape. A white paper from DHL Express earlier this year said that by 2025, 80% of all B2B...

https://www.freightwaves.com/news/b2b-e-commerce-payments-remain-stuck-in-the-past

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