Triumph Financial announced Monday that C.H. Robinson has joined its freight payments platform. The strategic partnership opens the menu of transportation finance solutions on the TriumphPay Network to C.H. Robinson’s 450,000 contract carriers.
“By joining forces, we have the ability to deliver financial payment offerings that streamline processes, improve efficiencies and foster growth with and for carriers,” stated Michael Castagnetto, president of North American surface transportation at C.H. Robinson, in a news release. “Together, we plan to unlock innovation that helps move the industry forward.”
The TriumphPay Network provides freight payment solutions and factoring services to freight brokers, shippers and carriers, facilitating nearly $50 billion in broker transactions annually. It is a part of holding company Triumph Financial (NASDAQ: TFIN).
The agreement will provide C.H. Robinson’s customers payment tools to improve processing times, automate back-office functions and reduce fraud.
“By joining the TriumphPay Network, C.H. Robinson will continue to deliver best-in-class carrier offerings and further underscore their position as a leader in the transportation industry,” said Aaron Graft, vice chairman and CEO at Triumph Financial.
C.H. Robinson (NASDAQ: CHRW) has $22 billion in freight under management, providing brokerage, forwarding and other third-party logistics services.
