Broker giant C.H. Robinson has teamed up with TriumphPay to offer motor carriers faster payment.
Global logistics giant C.H. Robinson announced C.H Robinson Financial, a suite of digital payment solutions aimed to increase the speed of cash flow for carriers.
Through its strategic relationship with Triumph Financial, carriers within C.H. Robinson’s 450,000+ contract carrier network can now access a new factoring solution designed first for C.H. Robinson.
And through Triumph’s LoadPay, a digital bank account, carriers can receive payment on approved invoices within minutes without a transfer fee — transforming what once took days or weeks into near-instant payments.
C.H. Robinson said the new offering “redefines payment efficiency for carriers” and streamlines processes.
Motor carriers often face cash flow challenges due to 30- to 90-day payment terms, leaving them waiting weeks for funds needed to cover expenses such as fuel, maintenance, and payroll.
Fast and reliable payments are critical every day, but especially in today’s market, as carriers look for ways to remain competitive amid inflationary and market pressures.
“We recognize that timely payments have long been a challenge for the carrier community, and we’re proud to introduce this new solution, setting a new standard of speed and efficiency unmatched by any other freight provider,” said Cody Griggs, vice president of digital brokerage for C.H. Robinson.
More Details on C.H. Robinson Financial Solutions for Motor Carriers
Benefits of the new C.H. Robinson Financial solution include:
• Immediate Cash Flow: Factoring is a solution that accelerates invoice payments, helping suppliers improve their cash flow. Factoring powered by Delta, a new service offering from Triumph designed first for C.H. Robinson, gives carriers immediate access to funds, 24/7, for unpaid invoices. Carriers have the benefit of getting approved invoices for C.H. Robinson loads and other freight providers paid within a day, while Factoring manages payment collection directly from customers.
• Time Savings: Through a LoadPay digital bank account, carriers can receive payments almost instantly once their invoices are approved. Unlike traditional bank accounts, LoadPay ensures that payments are transferred to carriers’ accounts within minutes, even on weekends and holidays.
• Flexibility and Security: Instant access to funds with your LoadPay digital bank account, which also includes a debit card and detailed invoice and payment tracking for full transparency across the payment lifecycle.
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