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RXO Offers Factoring and LoadPay to Carriers Through Expanded Relationship with Triumph
Globenewswire· 2025-07-10 20:35
Core Insights - RXO and Triumph have expanded their partnership to provide new financial tools and services aimed at improving efficiency and profitability for carriers [1][3] - RXO Extra | Factoring, powered by Triumph, offers Factoring as a Service™ and LoadPay™, enabling carriers to access quick payments and seamless factoring services [2][3] Company Overview - RXO is a leading provider of asset-light transportation solutions, offering tech-enabled truck brokerage services and complementary solutions across North America [6] - Triumph is a financial and technology company focused on modernizing freight transactions through payments, factoring, and banking solutions [6][7] Service Details - RXO Extra | Factoring allows carriers to receive same-day payments on approved invoices, available 24/7, enhancing cash flow management [2][3] - LoadPay is a digital banking solution designed specifically for the freight industry, providing fast access to funds and tailored tools for transportation businesses [7] Loyalty Program - RXO Extra™ is a loyalty program that rewards carriers for hauling loads through RXO Connect, offering savings and bonuses as they progress through loyalty tiers [4]