Comdata and RoadSync Partner Up to Connect Logistics Companies with On-Demand Fintech Payments Solution

Rhea-AI Summary

Comdata, a FLEETCOR company, has partnered with RoadSync to enhance payment efficiency in the logistics sector. This collaboration will integrate Comdata's Fleet Payment Solutions with RoadSync Checkout, facilitating faster transactions for truckers and carriers amid ongoing supply chain challenges. The partnership addresses manual payment processing inefficiencies, allowing for quicker, secure payments, improving cash flow and profitability for users. Comdata's extensive network will now provide enhanced payment capabilities, benefiting over 30,000 businesses in managing more than $55 billion in annual spending.

Positive

• Partnership with RoadSync enhances payment efficiency in logistics.
• Comdata's Fleet Payment Solutions enable faster, secure transactions.
• Expected time savings of 15+ minutes per transaction.
• Increased profitability for truckers and carriers.

Negative

• None.

Agreement Increases Cash Flow and Payments Efficiency for Drivers and Carriers

BRENTWOOD, Tenn.--(BUSINESS WIRE)-- Comdata, a FLEETCOR company and world leader in payment innovation, announced today that it has partnered with RoadSync, a digital fintech provider for the logistics industry, to offer its Fleet Payment Solutions and Fleet Cards to RoadSync Checkout. The agreement offers RoadSync’s network of warehouses, distribution centers, lumpers, and heavy truck repair and maintenance shops full access to Comdata’s mobile payments suite for a fast, secure, and more convenient way to pay and manage expenses and increase profitability.

As the supply chain crisis creates shipping and payments delays for logistics companies worldwide, Comdata Fleet Cards and Comcheks will be used with RoadSync Checkout to instantly and securely pay the routine business expenses faced by truckers and carriers. With capabilities to transfer funds directly and process payments remotely, Comdata customers will enjoy expedited transactions and greater visibility into account activity, saving customers fifteen or more minutes per transaction.* Additionally, RoadSync merchants can now offer drivers even more convenient ways to pay for services such as maintenance and roadside assistance as well as provide digital receipt capture, giving drivers, carriers and brokers the information needed to complete their loads and optimize profit margins.

“The industry’s extensive use of manual payment processes has been a long-standing roadblock to operational efficiency,” commented Comdata’s President, Eric Dowdell. “Now, with so many shortages and delays, creating operational efficiencies with digital solutions is even more critical to the longevity and success of the logistics sector. This partnership will enable fleet service providers to close the gaps caused by external supply chain bottlenecks to save time and improve their bottom line.”

RoadSync Checkout is now the only authorized mobile payments platform to digitally accept the full suite of Comdata Fleet Payments solutions, ensuring faster and simpler on-demand payments for merchants and drivers alike.

“Delivering connected financial solutions that power fast and secure payments is critical to efficiency and cash flow for logistics companies,” says Robin Gregg, CEO, RoadSync. “Partnering with Comdata ensures their fleet customers and drivers can use the cards and checks they are already comfortable with, in even more ways with more control and more data capture. We’re thrilled that Comdata partnered with us to help them offer these solutions to the market.”

*Transaction time-saving details based on RoadSync data.

About Comdata

Comdata Inc., a FLEETCOR company, is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients’ bottom lines. The company partners with more than 30,000 businesses to better manage $55B in annual fleet, corporate purchasing, payroll and healthcare spending, making it one of the largest fuel card issuers and the second largest commercial MasterCard provider in the United States and Canada. Founded in 1969 and headquartered in Brentwood, Tennessee, Comdata employs more than 1,300 professionals across North America. To learn more about Comdata Inc. visit www.comdata.com.

About RoadSync

RoadSync is the digital financial platform for the logistics industry. By removing paper and phone calls from business transactions, RoadSync offers a fast, convenient, and secure way to move and manage money and conduct business, dramatically reducing payment processing time and maximizing revenue collection. RoadSync offers payment products for the entire supply chain – warehouses, trucks/carriers, repair/tow merchants, and brokers – integrating and automating the financial systems fueling the logistics industry. For more information, visit www.roadsync.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211102005064/en/

Trish DaCosta

KCD PR

Comdata@kcdpr.com

(619) 955-7759

Source: Comdata Inc.

FAQ

What is the significance of the Comdata and RoadSync partnership for FLT?

The partnership enhances payment efficiency for logistics companies using Comdata's Fleet Payment Solutions, addressing supply chain delays.

How much annual spending does Comdata manage?

Comdata manages over $55 billion in annual fleet, corporate purchasing, payroll, and healthcare spending.

What benefits does the new payment solution offer to drivers and carriers?

The solution provides faster transactions, greater visibility into account activities, and increased convenience in managing expenses.

How does the new system improve cash flow for logistics companies?

By enabling quicker and secure payments, the system optimizes cash flow and operational efficiencies in the logistics sector.