And it’s maybe not broker quick cover, or broker-facilitated factoring, given “we never charge our carriers a fee” to work with payment support, Kropp adds. “When we transfer money, we simply take the fee. It’s crucial for us that carriers receive 100 percent of what they bid on the load, so which when we tell them they’ll get $4,000, they have it.” “Notes may be mounted on each transaction, [offering] a lot of benefit from your driver’s perspective to handle their capital.”
Since its release this past year, the Comchek Mobile app from renowned fuel card and other transportation fiscal solutions provider Comdata was garnering about 5,000 new users monthly. Comdata’s wide presence in facilitating load payments and gas improvements has translated into perhaps unprecedented ability for your provider to leverage the transaction ease enabled by smart-phones with appropriate security to, even as a general rule, help drivers and owner operators “better maximize the usage of their day,” says Terrence McCrossan, Senior Vice President and General Manager. “Lots of what we’re dedicated to is [as those traces of] motorist empowerment, and getting the most period of time on the trail since they could.”
Success was so that Comdata’s garnering new firm it self McCrossan says. After using the app with other cargo or company partners, “drivers themselves are asking to get paid via Comchek mobile” Transactions — both purchases and deposits — are subsequently readily tractable and accounted for in tax period and also in business-analysis programs.
Operators who make use of the mobile app will be issued a debit card that was personalized . Funds can come directly into small fleets’ and independents’ accounts, obviously, from agents and many others they do business with that utilize Comdata for payment processing.
Trucker spouses may register for the service too and drivers can earn funds available “to family members,” McCrossan states, calling Comchek Mobile the “first peer-to-peer payment platform built for its trucking industry” specifically.
What it amounts to is an instant-pay stage from a company with tentacles. As operators more and more come to expect it, quick/instant-pay models are “at which we see both agents and factoring organizations really competing” with each other for carriers, ” McCrossan states.
With average direct-deposit setups, which Fr8Star is also capable of doing for non-Comchek cell users, it requires a day or 2 for bank processing, ultimately.
At electronic proof of delivery, the payment has been delivered close instantly for owner operators together with the Comchek Mobile program, says Fr8Star CEO Matt Kropp, that is what users of this platform are most excited about. “The interest” for fuel advances isn’t all that high, he says. “Why we’re so excited about working together with Comchek is that, 1) people understand exactly what it really is but importantly that it makes it possible for us to preserve the promise we’ve built to carriers — that in case you deliver, we’ll cover the exact same moment.”
The program also enables operators to input a state code by a tangible Comchek and transfer funds from this test for their debit card, providing what McCrossan calls “a convenient means to use it at point of sale” locations.