Transfix, TriumphPay Team To Bolster Freight Payment Visibility

Freight technology company Transfix has teamed with TriumphPay to provide freight carriers with an improved payment experience, according to a Thursday (July 1) announcement.

The tie-up lets carriers simplify the workflows that they already have in place and gets rid of accounting friction. Moreover, it lets carriers see how their payments are progressing around the clock.

Carriers can also manage and send in invoices through the web as well as upload documentation for factors and brokers to a dashboard.

“At Transfix, we are constantly innovating to meet our customers’ needs,” Transfix chief financial officer Christian Lee said in the announcement. “By collaborating with TriumphPay, Transfix customers will have more options when it comes to getting paid on-the-go as well as having the ease of using one centralized online dashboard to manage their payments.”

TriumphPay, a carrier payment platform, links together carriers, factors, shippers and brokers to help all of those entities “process, settle and manage” carrier payments and fuel expansion.

In addition, TriumphPay provides brokers with supply chain finance, letting them pay their carriers in a more expedient manner and fuel carrier loyalty.

Overall, TriumphPay provides offerings to “increase automation, mitigate fraud, create back-office efficiency and improve the payment experience,” according to the announcement.

“We are delighted to be partnering with Transfix to enhance carriers’ payment needs,” Jordan Graft, executive vice president, TriumphPay, said in the announcement. “By working closely with the Transfix team, we’re now offering carriers a hassle-free way to receive instant payment status updates at their fingertips.”

In May, PYMNTS reported that Veem, the digital payment technology firm, will be working with Freightos.com, the online global freight booking platform.

To that end, Veem will be on Freightos.com as an available payment choice, providing users with more methods to make payments for international freight transportation.

Marwan Forzley, the chief executive of Veem, said in a May announcement that the firm’s tie-up with Freightos.com “makes perfect sense.” Veem streamlines digital payment, while Freightos.com streamlines booking and shipping international freight.