Transcard FreightX Uses Blockchain to Connect Shippers and Carriers

Payments and data technology company Transcard recently began offering a new FreightX freight processing solution powering enterprise blockchain deployment for end-to-end freight processing.

The FreightX platform combines:

• Smart Connect: A secure digital connection between each shipper and carrier.
• Smart Load Ledger: Smart contracts and real-time rules enforcement and invoice updates.
• Smart Finance: Embedded payments and financing with auto reconciliation.

“The freight industry is plagued with disputed invoices, cash flow issues, and a lack of visibility that strains shipper and carrier relationships," said Transcard CEO Greg Bloh. "That’s why we created FreightX, an industry-first solution built on a shared digital ledger between shippers and carriers. By virtually eliminating invoice disputes, FreightX helps carriers get paid faster, reduces the time and money wasted resolving invoice disputes, and avoids the need for punitive early pay fees.”

FreightX is a single, digital solution designed for the unique payments and working capital needs of the freight industry. With the agility to embed within any ERP or TMS, the solution fully integrates with any existing freight business processes, removing the challenges associated with siloed platforms.