Image for TriumphPay’s open payments network aimed at curbing double brokering

TriumphPay’s open payments network aimed at curbing double brokering

TriumphPay

November 3, 2022

Wolfe says network ‘moving about $1.3 billion a month over structured data rails’

FIRESIDE CHAT TOPIC: Empowering a new age of payment security.

DETAILS: FreightWaves’ Daniel Pickett spoke with Garrett Wolfe of TriumphPay at the F3: Future of Freight Festival about the company’s acquisition of HubTran in June 2021. Wolfe said the combined company has created a fully integrated payments network for transportation brokers and factors and “is moving about $1.3 billion a month over its structured data rails.”

SPEAKER: Wolfe is TriumphPay’s chief product officer and chief strategy officer. 

BIO: Prior to joining TriumphPay, Wolfe led product development teams across a number of industries and companies, including real estate at Door.com and financial services at Capital One. Wolfe also was part of the innovation and development practice at PricewaterhouseCoopers. 

KEY QUOTES FROM WOLFE: 

“On June 1 of last year, our development team put their heads down and by Jan. 11, we launched our payments network.” 

“The payments network is moving about $1.3 billion a month over structured data rails. So we’ve just been focused on moving brokers onto the network, moving our factors onto it to get rid of all of the inefficiencies. And success for us long term is if we put our optical character recognition software out of business, then we win because we prefer to do it over structured data.” 

“Double brokering has always been around. It’s just one of those things that we’re seeing more and more. We have a duty to stand in the middle of that. So factors need to watch out, we’re watching out for them [double brokers]. Brokers need to watch out, we’re watching out for them. Then our own carrier relationships, we need to watch out and so we’ve got the bank grade security to do it.”

Let's Get You Started

Schedule A Demo

More From TriumphPay Articles

  • TriumphPay Articles

    114 million in Potential Prevented Losses for TriumphPay Network Participants

    Read Article
    Image for 114 million in Potential Prevented Losses for TriumphPay Network Participants
  • TriumphPay Articles

    Josh Bouk on Freightwaves’ Stockout Live

    Read Article
    Image for Josh Bouk on Freightwaves’ Stockout Live
  • TriumphPay Articles

    Widespread double brokering wreaks havoc on brokers and carriers in Q2

    Read Article
    Image for Widespread double brokering wreaks havoc on brokers and carriers in Q2

More by TriumphPay

  • Events

    TriumphPay Leaders Speaking at the WIT Accelerate! Conference & Expo

    Read Article
    Image for TriumphPay Leaders Speaking at the WIT Accelerate! Conference & Expo
  • Events

    TriumphPay at Future of Freight Festival 2024

    Read Article
    Image for TriumphPay at Future of Freight Festival 2024
  • Featured, Press Releases, Uncategorized

    Ascent Global Logistics Joins the TriumphPay Network to Enhance Carrier Payments

    Read Article
    Image for Ascent Global Logistics Joins the TriumphPay Network to Enhance Carrier Payments