We hear about broker’s offering quick pay every day. But at what cost? Some offer it at 5% for 1 day payment. Others offer it at 4% for 1 day payment. By the time the payment is processed it’s usually been a few days and you’re paying a lot. Not to mention a lot of brokers pad their margin on what they pay you, if they know you’re likely to want Quick Pay from them on the load that they’re negotiating. So you’re probably losing a few percent off the load invoice amount as well.
What’s the alternative? Traditional factoring? Traditional factoring can be even more costly if you’re not super careful with all the hidden fees built into the agreements. Many factors that advertise a rate of 2.5-3% are actually closer to an effective rate per invoice of around 5-7%! So what to do then?
Haul Pay is ComFreight’s solution for the problem of wanting consistent fast payment on all of the loads that you haul. We also provide a suite of features built right into our app for you to request payments, connect customers to your account to check credit and track your income and payment history with Haul Pay.
Haul Pay is a flat fee (3.5%) service, with absolutely no hidden fees whatsoever.
Haul Pay is an alternative to Quick Pay for the brokers that charge you a lot for it, or for the brokers and shippers you haul for who don’t offer it at all for their loads. It’s also a much more cost-effective alternative to mainstream, traditional freight factoring companies.
Haul Pay is also 100% non-recourse. This is almost unheard of in freight factoring today. Most freight factoring services have a way of coming after your assets even when they advertise that they are non-recourse.
Haul Pay’s mission is to simplify your speed of payment experience for every load that you haul while giving you peace of mind that your credit, collections and back-office accounts receivables have been automated and are easily tracked at any time online.
Haul Pay means payments to your bank account within 24 hours of processing and we process almost all payment requests the very same day. This is only going to improve as we layer in more advanced technologies to increase the speed of your payments even more and give you, even more, visibility and insights into your business.
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