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.
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.