5 Reasons Why Checks and Cash Are Slowing You Down

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When the global coronavirus pandemic put its firm hold on the world at the beginning of 2020, an unprecedented demand for cashless and touchless payments emerged. Companies and businesses switched to digital options, drastically reducing cash and check usage due to the potential risk of contamination – and with the transition, a compelling case for why digital payments are the way forward beyond the pandemic materialized.

For the logistics industry, which has historically been heavily reliant on a check and cash economic system, converting to electronic payment solutions was fast-tracked for many out of a necessity to limit exposure to the coronavirus, but it also proved to be a revelation of unrealized advantages that will prevail long after the pandemic is over. Moving from paper-based to electronic payments didn’t just keep everyone safe by providing a contactless payment solution but also improved efficiency, positively impacted truck driver’s Hours of Service, and saved both time and money on all levels of the process. 

Relay Payments offers an end-to-end digital payment solution that takes the hassle of lumper payments and provides carriers and owner-operators with five compelling reasons to move away from cash and checks:

1. Secure Payments

When you use an instant, electronic payment solution to pay for a lumper fee, it completely eliminates the need for cash and checks. Relay Payments is SOC 1, SOC 2, and PCI compliant to ensure the highest level of privacy and information security – no more second-guessing amounts or scrambling to get cash!

2. Avoid Fraud

Taking the security aspect one step further, a digital payment solution adds a new layer of fraud protection to your transaction because no cash, money codes, or checks are involved in the payment process. No money or check codes are exchanging hands at any point, and you don’t need to give credit card details over the phone to your driver or the unloading service which adds an extra level of security for drivers and carriers alike.

3. No More Time Wasted Verifying Express Codes

Dealing with cash, checks, and money codes requires verification and approval and that often happens at the most inconvenient times of the day or night. With an digital payment system, your driver does not need to call to verify their express codes, an amount or check number. Your driver can get off the dock quickly and onto their next delivery.

4. Receipts and Reimbursements

One of the most compelling reasons for implementing a digital payment system is trackable reconciliation. Too often drivers and carriers are left to pay out of pocket from missed reimbursements. Relay’s digital solution means no more lost or missing receipts because you get an instant, digital record of each transaction. That also makes it simpler and faster to get reimbursements from a broker or a shipper because a copy of the receipt is emailed directly to the broker and/or carrier. It removes the onus from the driver.

5. Improved Driver Experience

In a world where drivers are becoming a scarce resource for the logistics industry, it’s important to think about how you can improve the experience for your driver to help with recruitment and retention. Implementing a digital payment solution significantly saves truck drivers time at unloading facilities. With changes to ELD Mandates and the constant pressure to maximize drive time, any time you can save your drivers as they move from point A to point B is a huge win.

The global pandemic may have forced an overnight shift in payment processes, but the industry has realized the potential and evident advantages of an end-to-end electronic payment system. It has also become clear that electronic payments are helping to future-proof the industry well beyond the pandemic.

Learn more about how you can ditch cash and checks – get started below.

Written by:
Mikkel Hyldebrandt
Marketing
Part of a team of passionate supply chain and logistics enthusiasts sharing insights, customer stories, and news to help you navigate the ever-changing world of technology and digital payments impacting the industry.

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