Comdata has introduced Comchek Mobile, a digital platform designed to improve the simplicity, speed, and security of fund transfers between companies and individuals in the trucking industry.
Through the Comdata Proprietary Network, Comchek Mobile users can send, receive and access funds through a Comdata Card and a smartphone app working together to simplify payments for driver advances, settlement, lumpers, repairs, and other over-the-road needs.
Comchek Mobile builds on Comdata’s Comchek Express Checks, a paper-based money transfer system. The new platform is designed to add modern enhancements for users.
Shippers, brokers and third party logistics firms can set up and then distribute payments to carriers and drivers in the system by entering their unique Comchek Mobile user IDs. Rather than storing recipients’ banking information, senders can deliver advances and settlements directly to a Comdata card using Comchek Mobile.
The system also provides carriers a faster electronic method of receiving payments and forwarding funds to drivers on the road. Payments can be captured in a single balance and sent via peer-to-peer transfers to a driver’s Comdata card in addition to a variety of other uses. Funds can also be sent directly to lumper service companies if needed.
“We’ve seen rapid growth in electronic and peer-to-peer transactions throughout the global economy, as well as within the trucking industry itself,” said Greg Secord, president of North American trucking at Comdata. “Comchek Mobile brings this modern functionality to our customers, giving them an easier way to send and use the funds they need when they need them.”
Using Comchek Mobile, drivers will have faster access to their funds for point-of-sale purchases, ATM withdrawals, bank transfers, and discounted fuel and hotels at Comdata Proprietary Network locations. Users can also check the balance on existing express codes and apply those funds directly to their Comdata Card debit balances.
In addition to providing payment flexibility for both senders and receivers, Comchek Mobile delivers security and transparency in their payments operations. All users on the network are authenticated and approved, and their unique user IDs allow transactions to be verified and tracked. Similar to a banking app, Comchek Mobile features reporting functionality that provides visibility into how, when, and where funds are used, including confirmation of all funds sent and received.
“Our objective in building a modern, automated payment experience for our customers is to make it easy to securely receive funds, manage balances and spend available balances,” said Secord. “As our industry evolves, Comdata will continue to innovate around ways to position brokers, fleets, drivers and independent owner/operators for success.”