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Carrier Payments

TriumphPay and MercuryGate announce integration and strategic partnership

DALLAS, Texas — Oct. 15, 2018 — TriumphPay, a leading provider of carrier and vendor payment solutions and MercuryGate, a global provider of cloud-based transportation management solutions, announced today a strategic partnership and integration of TriumphPay’s carrier payment processing platform with MercuryGate’s Transportation Management System.

The integration allows shippers and brokers, from their existing MercuryGate TMS account, to outsource the processing of carrier payments and management of factoring companies to TriumphPay, a product offered by a subsidiary of TBK Bank, SSB, the banking subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK).

MercuryGate President and CEO, Joe Juliano said that the strategic partnership and integration brings immediate relief and efficiencies to brokers and shippers, while providing carriers with greater transparency, control and choice over their payments.

“MercuryGate strives to be an enabler of success for all parties within the supply chain,” Juliano said. “Carriers often struggle with cash flow issues due to the inefficiencies of the historical industry payment model. Brokers, 3PLs, and shippers need a turnkey and secure solution to pay carriers, manage factoring companies and reduce fraud risk. TriumphPay solves these universal issues. In addition to reducing payment risk, the integration of TriumphPay will enable our customers to leverage a federally regulated bank for processing payments and providing integrated supply chain finance.”

The seamless integration allows brokers and shippers to schedule and automate payments from within the TMS. In addition to outsourcing their carrier payments, brokers and shippers can use TriumphPay for supply chain finance to fund their carrier QuickPays and to drive adoption of the broker’s QuickPay program to increase overall operating margins.

“We are delighted to be partnering with MercuryGate, a best-in-class solution provider within transportation management,” said Jordan Graft, Executive Vice President, TriumphPay. “Our association with a recognized market leader like MercuryGate further validates the need for a payment processing solution that delivers value and savings across the supply chain.

“TriumphPay eliminates chronic process inefficiencies and brings much needed innovation and digitization to transportation payment operations. The partnership between TriumphPay and MercuryGate will be a major catalyst in streamlining back-office payment processing and creating a better payment experience for all parties.”

TriumphPay provides instant, real-time visibility to carriers through its proprietary payment portal.
Carriers can manage multiple broker relationships, self-select QuickPays and choose from multiple payment methods, including ACH, wire transfers, T-Chek and EFS money codes.

“Our carrier-centric portal is the result of nearly 15 years of experience working with and paying thousands of carriers,” Graft said. “We strived to create the most transparent carrier payment system for truck drivers, while also empowering them with immediate access to their funds — from anywhere or any device.”

As members of the Blockchain in Transport Alliance (BiTA), TriumphPay and MercuryGate are actively involved in advancing the use of distributed ledgers for invoice presentment, assignment and payment. TriumphPay was recently awarded “Best in Show” at the Transparency18 conference in Atlanta in May.

About MercuryGate International, Inc.

MercuryGate provides powerful transportation management solutions proven to be a competitive advantage for today’s most successful shippers, 3PLs, freight forwarders, brokers and carriers. MercuryGate’s solutions are unique in their native support of all modes of transportation on a single platform including Parcel, LTL, Truckload, Air, Ocean, Rail, and Intermodal. Through the continued release of innovative, results-driven technology and a commitment to making customers successful, MercuryGate delivers exceptional value for TMS users through improved productivity and operational efficiency. MercuryGate offers business intelligence to improve transportation processes, increase customer satisfaction, and reduce costs with its adaptable, comprehensive transportation solutions suite. For more information, visit the MercuryGate website.

About TriumphPay

TriumphPay is a leading provider of carrier and vendor payment solutions to the supply chain industry. Its integrated supply chain finance solution allows brokers and shippers to reduce the amount of capital invested in their QuickPay program. Since its inception, TriumphPay has paid more than 50,000 carriers on behalf of its freight brokers and shippers. TriumphPay simplifies the management of carrier payments for brokers and shippers including managing verification and collection calls from factoring companies.

TriumphPay is a product of Advance Business Capital, an operating subsidiary of TBK Bank, SSB (Member FDIC). TBK Bank, SSB is a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), a financial holding company with a diversified line of community banking and commercial activities.

TriumphPay and Intelligent Audit Announce Partnership to Link Supply Chain Financing and Transportation Spend Optimization Solutions

“We are delighted to be partnering with Intelligent Audit to jointly bring innovation, network scale, and new technologies to a rapidly evolving market,” said George Lorenze, VP, North America Business Development at TriumphPay. “Intelligent Audit helps some of the world’s largest businesses reduce transportation costs, enhance visibility and improve transportation execution. TriumphPay is a leading provider of supply chain finance, working capital and vendor payment solutions in the transportation industry. Our complimentary services and extensive industry experience will allow us to provide greater efficiencies in the transportation space.”

Both companies cite their existing market presence, integrations with carriers, freight brokers, shippers, TMS providers and connectivity with accounting systems as a vital driver of the partnership.

“It’s the concept of the ‘network effect’ and leveraging the power of a large, networked community on both the shipper and carrier sides and bringing that community together to the benefit of all parties,” said Hannah Testani, COO at Intelligent Audit. “TriumphPay and Intelligent Audit are bringing those eco-systems together in a new and exciting way to serve our customers better.”

Both Intelligent Audit and TriumphPay are members of the Blockchain in Transport Alliance (BiTA) and are actively involved in advancing the use of distributed ledgers for invoice presentment, assignment and payment.

ABOUT INTELLIGENT AUDIT 
Intelligent Audit is a leading provider of freight audit and recovery, business intelligence analytics, and transportation spend optimization solutions. Intelligent Audit helps customers reduce spend with its best-in-class audit and reporting platform which uncovers opportunities for cost reduction and process improvement.

With more than 2,500 clients representing more than $9 billion in aggregate transportation spend across all modes and geographies, Intelligent Audit provides insights that help companies ship smarter. For more information, visit http://www.intelligentaudit.com.

ABOUT TRIUMPHPAY
TriumphPay is a leading provider of carrier and vendor payment solutions to the supply chain industry. Its integrated supply chain finance solution allows brokers and shippers to reduce the amount of capital invested in their QuickPay program. Since its inception, TriumphPay has paid more than 50,000 carriers on behalf of its freight brokers and shippers. TriumphPay simplifies the management of carrier payments for brokers and shippers including managing verification and collection calls from factoring companies.

TriumphPay is a product of Advance Business Capital, an operating subsidiary of TBK Bank, SSB (Member FDIC). TBK Bank, SSB is a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), a financial holding company with a diversified line of community banking and commercial activities.

Carrier Payments

TriumphPay Wins Best in Show at Transparency18

TriumphPay, the logistics industry ultimate carrier payment processor, received “Best in Show” accolades at the inaugural Transparency18 logistics conference, which took place May 21-23 in Atlanta, GA. Representing TriumphPay were Jordan Graft, EVP Payments, and John Shields, Chief Technology Officer.

The 7-minute demonstration featured a standard spot market load from rate confirmation through to payment.

“We have an opportunity to fundamentally change what invoicing and payments looks like, ” said Graft. “We waste hundreds of millions dollars between factoring companies, brokers, shippers and carriers trying to do this via email or EDI.”

Other highlights from demo:

  • Shared ledger removes need for images of rate confirmation or invoice submission
  • All transactions instantly added to ledger shared between all parties
  • Simplifies processing of accessorials like detention
  • Invoice submission and approval process with increased transparency
  • Integrates with TriumphPay to offer carriers instant funding options

 

About TriumphPay

TriumphPay is the logistics industry’s FREE ultimate payment processing tool that allows brokers and shippers to completely outsource their payments process, increase their revenue and retain their top drivers. Since 2004, we’ve made more than 5,000,000 individual payments to 50,000 carriers, and what we’ve learned over and over again is that YOUR QUICKPAY PROGRAM MATTERS.

With capacity concerns dominating the industry, carriers expect better payment terms and options. For many brokers and shippers, their QuickPay program hasn’t kept pace with their drivers’ needs and expectations. TriumphPay empowers your drivers to manage their own payments and terms. We ensure they get paid how they want, when they want. Powered by Triumph Business Capital, TriumphPay allows you to offer competitive QuickPays to your carriers, while keeping your payment terms in place.

We integrate with the industry’s top TMS providers, meaning no disruption to your current workflow. You approve the load, we do the rest. Other benefits of TriumphPay:

+ Completely outsource your accounts payable process for no out-of-pocket costs
+ Reduce the amount of calls from factoring companies
+ Free up your team’s time
+ Offer QuickPays with no immediate out-of-pocket expense.