Axle, a payments automation and financing platform for freight and logistics, announced Axle Wallet, a new carrier payments solution. With Axle Wallet, freight brokerages and shippers can use their own capital to pay their carriers while still benefiting from Axle’s high-powered payments network. Axle Wallet customers can seamlessly schedule and disburse funds to carriers and access the same suite of automation features offered as a part of Axle’s core platform, including access to its multiple TMS and accounting integrations.
“Freight brokers and shippers are riding the wave of digital transformation, streamlining workflows and increasing efficiencies,” said Shawn Vo, co-founder and CTO of Axle. “Our financial platform enables brokers and shippers to automate their most time-consuming tasks so they can focus on growing their business and moving shipments.”
With Axle Wallet, brokers and shippers can transfer funds to a singular account and disperse payments to the right carrier at the right time. By virtue of the Axle Network, factor relationships and payment details are securely managed and carriers have one login to track all their payments. When combined with Axle’s flagship integrations, clients can eliminate manual data entries to initiate these payments and put carrier payments on autopilot for fast-growing brokerages and shippers.
“Axle Wallet has helped us transform our payment operations, allowing us to be more efficient while also improving carrier satisfaction”, said Rajvir Kumar of Tera, Inc. “With Axle’s software, we no longer worry about carrier payments and we can focus on growing the business.”
