TriumphPay announced today the addition of Knight-Swift Transportation (NYSE:KNX) to its open payments network as a full audit and payments network participant. The TriumphPay open payments network has rapidly expanded since its launch in January 2022, now with over 30 of the top 50 U.S. brokers as clients, creating a more secure hub for the presentment, audit and payment of invoices in the transportation industry.
Knight-Swift senior vice president of Logistics Reed Stultz commented, “Our relationship with TriumphPay enables us to continue to improve our technology and the payment experience for our carriers, provide transparency to the payments process and empower more professional drivers to grow their business, even in current market conditions.”
TriumphPay processes or interacts with more than 20% of all brokered transactions in the U.S., touching over $37 billion in transportation. Brokers joining the TriumphPay payments network enjoy additional layers of data insights, security, and transparency through this innovative platform for the freight industry, which reviews invoices more quickly and efficiently in a secure data exchange between factors and freight brokers.
“Partnering with Knight-Swift, one of the most diversified freight transportation companies, accelerates our ability to modernize the transportation industry with tech innovations for secure, timely payments,” said Aaron P. Graft, vice chairman chief executive officer of Triumph Financial, Inc (NASDAQ:TFIN). “Having one of the top U.S. brokers trust TriumphPay with their payments benefits all brokers, factors and carriers and the industry overall.”
Knight-Swift Transportation joins leading, notable U.S. transportation brokers on the TriumphPay payments network as a full audit and invoice processing customer. For more information, visit https://triumphpay.com/ and http://knight-swift.com/.
