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Transplace, Inc., a non-asset-based third-party logistics (3PL) provider, has created the Transplace Pay On-Demand Program for carriers. Participants get paid as soon as their invoices are approved, instead of having to wait for payment under the agreed credit terms. According to Transplace, the program offers the benefits of full automation, involving the use of a corporate purchase card. As a result, carriers eliminate the cost of receivables collection and manual payment processing. Transplace charges no fees for participating in the program. Credit card merchant fees are typically offset by the cash-flow benefits of accelerated payment and the savings from process automation, the company claimed. Transplace provides participating carriers with a credit card number to keep on file. The card contains unique security features, generating an electronic remittance advice and charging the specified amount when payment is approved. Funds are deposited within the carrier's account within 24 hours of charging the card.
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