B2B Payments

QuickPay Funding Rolls Out One-Day Payment Method

Factoring company QuickPay Funding has added a new payment system to hasten funding for small businesses, owner operators and transportation fleets, allowing one-day transfers at any time, a press release says.

The new system came about as a result of a partnership with Bank of America, and will allow for better coordination, with all companies using QuickPay Funding to factor invoices now receiving confirmed funds in their bank accounts instantaneously, with the press release noting that that includes holidays or any other days people might not expect for invoices to go through, like nights and weekends.

QuickPay Funding president Juan Estrada said the move was in line with the trends toward real-time payments (RTPs) going on in the business world. He said the clients can now “have their funds faster and they will save substantially on bank wire fees. This is an excellent option in today’s tight environment.”

“We look for ways to help our clients and launching RTP’s became a very easy decision,” Estrada said, according to the release. “Quickpay Funding continues to lead the industry, offering live 24 hour service and support and now with instant funding of our client’s processed invoices ... We are very excited to be working with Bank of America to deliver funds to our clients through the use of Real Time Payments technology (RTP). We feel RTP’s will separate us from the competition as companies look for faster responses and easier access to their funds.”

The world of trucking is seeking innovation through flexibility to try and get peoples' items to them quicker, particularly during the pandemic. PYMNTS reports that the difficulty comes often from companies that were, for a long time, unwilling to part with the old manual ways.

A recent PYMNTS interview with Andrew Leone, CEO of Dispatch, a logistics startup, says that the focus from his company is on last-mile deliveries. His company is looking to implement a gig-economy-style model into the logistics industry, with quick deliveries using drivers' own vehicles.

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