TriumphPay Adds Knight-Swift Transportation to Open Payments Network

TriumphPay added Knight-Swift Transportation to its open payments network as a full audit and payments network participant.

 “Our relationship with TriumphPay enables us to continue to improve our technology and the payment experience for our carriers, provide transparency to the payments process, and empower more professional drivers to grow their business, even in current market conditions,” Reed Stultz, senior vice president of logistics at Knight-Swift Transportation, said.  

TriumphPay’s open payments network has expanded since its launch in January 2022, as the network now has more than 30 of the top 50 U.S. brokers as clients. TriumphPay processes or interacts with more than 20% of all brokered transactions in the U.S., touching more than $37 billion in transportation.

Brokers who join TriumphPay’s open payments network gain additional layers of data insights, security and transparency through the platform, which reviews invoices in a data exchange between factors and freight brokers.

“Partnering with Knight-Swift, one of the most diversified freight transportation companies, accelerates our ability to modernize the transportation industry with tech innovations for secure, timely payments,” Aaron P. Graft, vice chairman and CEO of Triumph Financial, said. “Having one of the top U.S. brokers trust TriumphPay with their payments benefits all brokers, factors and carriers and the industry overall.”