Digital payments- Innovating the Trucking Industry

New tools are untangling supply chains, boosting revenue, and putting more money in drivers’ pockets.

One of the biggest challenges that the trucking industry faces toady is how inefficient the processes are, be it of payments, petty cash leakages or tracking expenses. Drivers wait for hours to get a job or to get their payments processed, or waste hours to find them in-network fuel station for discounts.

That’s exactly why the financial tools can make a significance change in the industry. From get the load request to the right driver to automating the payments and digitizing all the records can solve a lot of problems and build supply chain resilience.

The little efficiencies like these can be really transformative, and that’s why there is a dire need for digital financial tools especially in the trucking industry.

In the trucking industry there is a huge problem of cash leakages because all the transactions made by the drivers are in cash and a lot of these transactions are unaccounted and there is no way of keeping a track of all the transactions at one place. The fuel card or the fleet cards helps digitize the transactions for better fleet management.

Routes Optimized, Pay-outs Automated

“Instant Settlement will save time, empowering the freight move”

MoXey believes there is a huge gap in the supply chain ecosystem, where the processes are quite inefficient adding to the complexity and unpredictability of freight operations and data is the only saviour. Quick hassle-free transactions powered by data has become a great priority for freight industry and MoXey is here just for that.

Are You Really Saving Using Fleet Cards?

Fleet cards help keep the operating costs low, as it monitors all possible activities made during the freight move. For instance, MoXey’s Pre-loaded smart cards are powered by VISA, are easily accepted everywhere and for all the transactions. That means it covers all the fleet-related expenses, covering tolls, repairs, maintenance, or insurance plus all the other expenses that a driver might have like shopping online. The best part is there are no hidden fees, or limits on your savings.

MoXey is one such platform which enables truckers/ drivers to get paid faster. For years, carriers had to keep close tabs on paperwork like invoices or bills of lading, sometimes even slipping them underneath warehouse office doors. MoXey automates payments to pay drivers quickly, no paperwork required. Pay-outs to trucking businesses via non-digital medium has been a major hurdle for transporters who wants to scale their business.

MoXey advances money and pays out to drivers instantly. With MoXey’s commercial card, issued through easy integration with your businesses, can be the perfect tool to manage thousands of payments which are made offline, in cash otherwise. This gives leverage to the drivers to access funds and cover over-the-road expenses instantly.

This eliminates inconsistent Lumper Payments, a big stressor of logistic industry, this payment is made to the third-party workers who help load or unload the trailer contents. This payment mostly comes out of the drivers’ pockets and are reimbursed later, putting them under financial stress. Now with MoXey’s Prepaid expense Cards, which are auto topped with a certain pre-specified limit, freight players now have a more transparent process and authority over the freight move.

MoXey has identified the real potential of data that it holds and plans to leverage the same. Once the supply chain is disrupted, there will be more need for data. Companies will want to get the ins and outs of the industry, how it works, and MoXey will have the tool to extract those insights.

Freight industry majorly consists of small and medium sized players, which most of the time has no access to credit. This creates a vacuum in the ecosystem. MoXey is improving supply chain resilience, by facilitating working capital, fast-tracking the freight movement.

This eliminates inconsistent Lumper Payments, a big stressor of logistic industry, this payment is made to the third-party workers who help load or unload the trailer contents. This payment mostly comes out of the drivers’ pockets and are reimbursed later, putting them under financial stress. Now with MoXey’s Prepaid expense Cards, which are auto topped with a certain pre-specified limit, transporters have a more transparent process and authority over the freight move.

This is empowering drivers with the tools they need to keep moving, make more money, offset costs, and sustain their businesses, they don’t need to have to wait up to 30 days to get paid after delivering a load. With Moxey’s card truck business are now able to pay them instantly.

Seamless over-the-road payments

Many transactions go into a single delivery, from unloading fees at warehouses to refuelling, repairs, and paying for night parking. MoXey Payment solutions enable fast, contactless payments throughout the trucking ecosystem.

Saving truckers just 20 minutes means a difference of hundreds of dollars in their pay checks and billions of dollars of efficiency for the economy.

MoXey uses smart integration with your fleet management software. Trucking companies use the cards to manage payments for repairs, tolls, and fuel, all on one card powered by Issuing, allowing them to cut down on misused expenses and fraud while saving money through fuel discounts.

MoXey’s fleet management card saves truckers money and opens up their fuelling options so they can focus on the drive ahead of them.

A 21st-century trucking industry

MoXey is helping trucking companies find success online, and growth has been rapid. The main objective is to streamline the operations of trucking businesses and transform their payment eco system. They are increasing revenue and driving down costs, just when truckers—and all the consumers who benefit from their work—need it most.

Too many businesses across the economy are still forced to operate like they did 5–10 years ago, but trucking isn’t one of those anymore, this new generation of platforms and fintechs’ is enabling an essential industry to innovate for the future.”