Whether brokers are leveraging technology platforms like TriumphPay or sticking with traditional checks, understanding these options can help carriers best set themselves up for prompt payments from brokers. Each payment provider also requires setup from the carrier, so getting setup in advance with the main players in the transportation industry can help streamline broker payments.

Here’s a breakdown of common broker payment systems, including TriumphPay, Truckstop, Epay Manager, Rigz, broker-specific systems, direct ACH payments, and physical/e-checks.

1. TriumphPay: A Centralized Payment Hub

TriumphPay is a popular payment platform that connects brokers, carriers, and factoring companies. Since TriumphPay’s main purpose is to help process payments and it is a newer platform, TriumphPay does its job very well. At the time of this article, some top broker names that pay through TriumphPay include Arrive Logistics and Schneider.

How It Works

Brokers upload payment details for completed loads. Carriers receive notifications, track payment statuses, and choose payment options (standard or expedited). Factoring companies can directly access payments if assigned.

Carriers that factor should upload Notice of Assignments to both the internal broker payment department and to TriumphPay to ensure no delays occur. 

Note that TriumphPay does not process load documents on behalf of the broker, so any disputes with the broker pay amount or missing documents still need to go through the broker directly or its respective documentation software.

Pros:

• Easy-to-use interface for tracking payments and usually accurate, up-to-date information on payment status.
• Integrates with various brokers and factoring companies, allowing centralized management of payments from brokers on the platform.
• Faster processing times with quick pay options.

Cons:

• Service fees for expedited payments.
• Requires carriers to sign up and manage an account separate from all other accounts just for payments.
• For carriers factoring, carriers will have to manage NOAs and Letters of Releases with both brokers and TriumphPay.

2. Truckstop Pay: Designed for the Industry

Truckstop offers a payment solution integrated with its load board, helping carriers handle payments without switching platforms.

How It Works

Payments are initiated directly within the Truckstop ecosystem. Carriers can track load statuses and payment timelines in one place.

Pros:

• Seamless integration with Truckstop’s load board.
• Transparent timelines for payment.

Cons:

• Limited to brokers using Truckstop for payment processing.
• May not offer the flexibility of other standalone platforms.

3. Epay Manager: Simplifying Payment Matching

Epay Manager is a broker-centric system designed to streamline invoice management and payments. Epay in a lot of ways is similar to TriumphPay but there are fewer medium to small brokers on Epay and the interface can feel a bit more corporate and outdated than TriumphPay. At the time of this writing, Pepsi is a well-known broker/shipper that pays through Epay.

How It Works: 

Brokers upload load documents, and carriers submit invoices directly through the platform. Payments are processed electronically, with options for ACH transfers or quick pay.

Pros:

• Efficient document and payment tracking.
• Reduces errors in invoice matching.
• Quick pay options available.

Cons:

• Limited broker adoption compared to platforms like TriumphPay.
• Some fees may apply for expedited payments.

4. Rigz: Tech-Forward Payment Processing

Rigz is a modern payment platform focused on speed and simplicity, often appealing to tech-savvy brokers and carriers. However, the platform is very new and does not have as many advanced features as others on this list. Also for that reason, there are not as many brokers on the Rigz platform for payment processing.

How It Works: 

Carriers sign up and link their bank accounts. Payments are processed digitally, with transparency and fast turnaround times.

Pros: 

• User-friendly design tailored for carriers.
• Fast payments with minimal administrative overhead.

Cons:

• Limited broker adoption as it’s a newer platform.
• May require carriers to familiarize themselves with its system which can feel non-intuitive at times.

Best For: Tech-oriented carriers seeking speed and transparency.

5. Broker-Specific Payment Systems

Some brokers manage payments through proprietary systems, bypassing third-party platforms. This is the main approach for large brokers. Although payment is issued through familiar forms like ACH, e-check, and checks, all payment information is tracked through the broker’s software platform. Examples of these brokers include J.B. Hunt, C.H. Robinson, Uber, and Amazon to name some of the big players.

How It Works: The broker processes payments directly through its internal system. Invoices and load documents are typically submitted via broker portals or via email to the appropriate payment department.

Pros:

• Direct communication with brokers and integrates with the broker’s other tools like loadboard or document management.
• No third-party fees and usually generous quick-pay options.

Cons:

• Processes vary widely between brokers, requiring carriers to adapt to different systems.
• Less transparency in payment timelines compared to centralized platforms.
• Some platforms are better than others and there’s a wide range of variability.
• Carriers who work on the spot market will have a large number of platforms to manage leading to more administrative overhead.

6. Direct Payments Without Middlemen

Some brokers offer direct ACH payments and/or checks (both physical and e-checks), skipping third-party platforms altogether. They also don’t use any software platforms themselves. These brokers usually prefer the coordination of document processing and payment processing via e-mail.

How It Works: Carriers provide their banking and physical business address details to brokers. For ACH payments, payments are transferred directly into the carrier’s account with typically remittance information provided to the carrier via e-mail. For physical checks, checks are mailed to the carrier’s designated address and the remittance information is included with the physical check.

Pros:

• Straightforward and simple. Everyone uses e-mail.
• No platform fees or additional accounts needed to manage payment.
• Vast majority of brokers can be handled through one centralized inbox.

Cons:

• Requires trust in brokers to handle payments accurately.
• Lost payments typically checks sent to the wrong location.
• Long payment times, mostly due to the mailing time for checks.
• Limited tracking features compared to platforms like TriumphPay.
• Important information mixed in with everyday emails in the carrier’s inbox leading to potential important information being missed.

Key Considerations for Carriers

1. Understand Broker Preferences: Each broker may have a preferred payment method. Confirm these details upfront to avoid delays in payment. This also provides time to the carrier to get payment setup before payment is issued.
2. Evaluate Speed vs. Cost: While platforms like TriumphPay offer quick pay options, these often come with fees. Decide if expedited payments are worth the cost for your cash flow needs. It may be better to wait for payment or to get payments via checks.
3. Stay Organized: Keep detailed records of payment timelines, invoices, and bank account information. This is especially critical when working with multiple brokers or factoring companies.
4. Assess Security: Ensure payment methods are secure, particularly for direct ACH transfers or systems requiring sensitive bank information.

Which Payment Method is Right for You?

Most of the time the payment process if dictated by the broker issuing payment. However, where possible the carrier should aim to understand how to set-up receiving payment so they get compensated appropriately for the work rendered. 

When evaluating the system the broker is requesting the carrier to use for payment, assess the best payment process depends on your carrier’s priorities:

• Speed: Platforms like TriumphPay and Rigz excel in fast payments.
• Platform Fees: Direct ACH payments or broker-specific systems often have fewer fees. 
• Ease of Use: Truckstop Pay and Rigz offer user-friendly systems tailored for carriers.
• Reliability: Traditional checks or e-checks provide a familiar fallback but come with longer timelines.

No matter the method, effective communication with brokers and attention to payment details can prevent delays and disputes. For carriers, staying flexible and adapting to broker-specific requirements is key to maintaining consistent cash flow and building long-term relationships in the trucking industry.

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