MercuryGate International, a provider of cloud-based transportation management solutions, has launched LoadPay, a secure freight payment solution powered by Truckstop.com.
The platform will enable third party logistics providers (3PLs), brokers and shippers to schedule automated payments to carriers.
It will also offer the option of PayMeNow, a quick payment solution for carriers who elect to receive funds more rapidly, the company said.
MercuryGate co-founder & CEO Monica Wooden said: “Carriers often struggle with cash flow issues due to the inefficiencies of the historic industry payment model. Brokers, 3PLs, and shippers need a turnkey and secure solution to pay carriers and reduce fraud risk. LoadPay solves these universal issues.
“In addition to reducing payment risk, the integration of LoadPay will enable our customers to receive the benefits of the PayMeNow savings and having the ability for quick pay.”
LoadPay will be seamlessly integrated within MercuryGate, providing customers with a unique payment option which will save time and money.
LoadPay general manager Farid Zaffar said: “We are very excited to partner with MercuryGate as they are a market leader and a best-in-class solution provider within transportation management. LoadPay resolves numerous, long-standing, industry challenges, and will revolutionize the payment process within the transportation industry. The partnership between Truckstop.com and MercuryGate will be a major catalyst to that end.”