Relay Payments operates a secure digital payment network tailored for the logistics industry, enabling carriers, brokers, and merchants to conduct instant transactions for fuel, lumpers, and other over-the-road expenses. This platform eliminates cash handling and manual processes, improving transaction efficiency and reducing operational costs for all parties involved.
Funding
$94.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The logistics industry relies heavily on cash and manual processes for over-the-road (OTR) expenses, leading to inefficiencies, security risks, and increased operational costs for carriers, brokers, and merchants. Traditional payment methods like cash and fleet checks are prone to fraud, create reconciliation challenges, and delay transaction times.
Solution
Relay Payments provides a secure digital payment network designed specifically for the logistics sector, enabling instant and transparent transactions between carriers, brokers, and merchants. The platform eliminates the need for cash handling and manual reconciliation by digitizing payments for fuel, lumper fees, scales, repairs, and other OTR expenses. By connecting all parties on a single network, Relay streamlines payment workflows, reduces fraud, and improves cash flow management. The Relay app allows drivers to easily find merchants along their route and make secure payments directly from their mobile devices, while brokers can automate back-office operations and strengthen carrier loyalty through fast digital freight payments.
Target Audience
Relay Payments targets freight carriers, brokers, and merchants in the logistics industry who seek to streamline payment processes, reduce operational costs, and improve security.
Features
- Mobile app for drivers to locate merchants and make secure digital payments for fuel, lumper fees, scales, and other OTR expenses
- Digital payment processing for merchants, eliminating manual processes and reducing transaction times
- Real-time tracking and control of OTR payments and receipts in one centralized platform
- Integration with CAT Scales for seamless in-app scale payments at over 2,200 locations nationwide
- Spend controls for fleets to manage and monitor driver spending
- Fraud protection measures to prevent fuel card skimming and other fraudulent activities
- Digital freight payments for brokers to automate back-office operations and improve carrier relationships