Comdata has released QuickPay, a new financing solution that gives fleet owners access to same-day payment on loads they deliver.
The company stated that the product will help fleets improve cash flow and scale their business by providing a quick and efficient way to access shipper payments directly on their Comdata fuel card.
Through QuickPay, carriers can get paid within 24 hours of delivery instead of waiting the standard 30 days for payment transactions to process, the company noted.
Crestmark, a division of Metabank, will fund the payments through the QuickPay platform.
“Comdata and Crestmark have long histories of helping customers improve their cash flow through innovative financing solutions,” said Justin King, senior vice president of Product and Innovation, North America, Comdata. “On average, fleets have to wait 30 or more days to be paid on a delivered load, and that’s a challenge in times of economic uncertainty. We developed this solution to provide faster funding options to give fleets a stronger financial footing and much easier access to those payments through their existing Comdata fuel card or bank account.”
Comdata is a FLEETCOR company that is a provider of payment and operating technology.