TriumphPay Expands Logistics Payments Network to Mexico

Increased cross-border trading with Mexico creates demand for local, fast, and secure payments internationally 

DALLAS – April 10, 2024 –TriumphPay announced the expansion of its open payments network for the freight transportation industry to include Mexican pesos (MXN), a significant step forward for the network which currently offers its payment services to shippers, brokers, carriers, and factors in U.S. dollars (USD) and Canadian dollars (CAD).  

As the premier payments network in North America, TriumphPay is committed to providing innovative solutions integrated with the best technology available. Mexico became the largest U.S. trading partner in 2023. The ability to make payments in local currency has been a roadblock for many logistics service providers. Expanding TriumphPay’s network globally is a natural progression, reflecting the need of many logistics providers to make payments in different currencies.  

“Expanding our payments network to Mexico is critical for our customers as trade increases between the U.S. and Mexico,” said Melissa Forman, EVP and president of TriumphPay. “We are thrilled to offer this new service, easing the technological and payment burden for customers looking to grow their businesses internationally. Our expansion into Mexico clearly indicates TriumphPay’s commitment to providing brokers, factors, carriers and shippers worldwide with fast payments that offer security, efficiency and transparency.” 

By the end of the second quarter, TriumphPay expects to have the ability to make standard term payments in Mexican pesos (MXN) for carriers, provide customer service and support in Spanish, and offer the automation of payment processing in MXN. Additional features, such as access to the TriumphPay portal for international customers, are also planned shortly thereafter to make the transition smoother. 

As TriumphPay’s payments network expands internationally, brokers, factors, carriers, and shippers can benefit from TriumphPay’s operational excellence and industry expertise, as well as reduce fraud risk on a global scale. By the end of 2024, TriumphPay also anticipates making payments in additional currencies in Europe and parts of Asia.  

For more information, visit www.triumphpay.com.  

About TriumphPay 

TriumphPay is the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry, offering a structured, secure data exchange. The TriumphPay payments network and integrated technology solutions remove friction and reduce fraud in the presentment, audit and payment of over $51 billion in transportation invoices.  

TriumphPay is a division of TBK Bank, SSB, Member FDIC, and a member of the Triumph Financial, Inc. (Nasdaq: TFIN) portfolio of brands.