Part 2: The Future of Auto Transport Payments is Faster, More Secure & Trustworthy
Everything moves quickly in the auto transport industry, except payments, as many carriers all too often know. But payment hold ups can create a host of issues for every stakeholder involved in the movement of cars. When critical cash flows, security and trust are at stake, however, making the move to a new payment system can feel like an even more daunting challenge.
This is where an innovative payment solution like Super Dispatch’s SuperPay comes into play.
In this second part of our Q&A series with Super Dispatch’s Vin Yuldashev, we’ll explore how SuperPay is addressing key industry challenges to reshape the payment landscape offering both speed and security to carriers, shippers and brokers.
OK, let’s talk SuperPay. Can you tell us what it is and how it works?
Vin: SuperPay was created to bring transparency to the payment system. We saw a big issue with carriers not getting paid on time, but there wasn’t a system in place to ensure timely and transparent payments. But in general shippers and brokers, particularly the good ones, wanted to pay on time. They just didn’t have the tools in place to make it happen. So, we at Super Dispatch built it for them.
We automated the payment process for shippers and brokers. With SuperPay, payments can be automatically triggered by a specific date or an event, like a vehicle delivery. There’s no need for anyone to do anything on their end — payments go directly into the carrier’s bank account.
What issues has SuperPay solved for when it comes to payment processing?
Vin: One of the major issues we saw before SuperPay was payment confusion. Shippers and brokers would send payments via check or services like Zelle, but carriers wouldn’t always know who the payments were coming from or for which load they were being paid. SuperPay fixed that by providing full transparency into every payment. Our system allows carriers to see exactly which loads they were paid for, and even relays this information to their bank statements and QuickBooks. SuperPay makes it easy for carriers to track and cross check all their payments.
How does SuperPay address the security concerns related to payment processing?
Vin: Another big pain point SuperPay addresses is security. This is the key to preventing fraud, which is rampant in our industry. In the past, banking details were often shared openly, whether through mailing checks to carriers or sharing voided checks with brokers. This process has long posed significant security risks, as it can expose sensitive account and routing numbers. SuperPay solves this by collecting this information once, then masking it as hidden. This significantly increases cybersecurity and reduces the risk of fraud.
Are there other common issues industry players face that SuperPay has addressed?
Vin: Double payments are also a common problem we’ve solved through SuperPay. We found that shippers were often paying the same invoice twice because of miscommunications with carriers or their internal accounting and dispatch teams. With SuperPay, it’s actually impossible to double pay. Each transaction in SuperPay is tied to one payment, so there’s no way to send two payments for the same load.
Additionally, shippers using methods like Zelle or Cash App can accidentally send payments to the wrong person. I had a case where a shipper sent $2,000 to a stranger by mistake and never got the money back because the transaction was irreversible. SuperPay eliminates such errors by securely managing the payment process and ensuring money goes to the right party.
Take us through other features like SuperPay’s digital delivery verification system.
Vin: Through SuperPay’s digital delivery verification, we require carriers to turn on geofencing, scan a vehicle’s VIN and take pictures of the vehicle at both the pickup and delivery locations. With this system, we can actually detect if a carrier has used a tool to fake their location.
If a carrier tries to skip any of these steps, we notify them that their payment might be delayed. This motivates carriers to do a good job on time. Once their delivery is verified, SuperPay tells carriers exactly when their payment will arrive in their account. This visibility provides peace of mind and means carriers don’t have to send emails, invoices or follow up paperwork to get paid.
How does SuperPay improve transparency and communication between brokers, shippers and carriers? How does that help build trust and strong relationships?
Vin: Good communication in our industry is key, but it’s also one of the biggest issues. After a job is done, carriers often don’t hear back from brokers about payment status, and brokers may not hear from carriers if there are issues. SuperPay helps solve this by providing transparency.
SuperPay discloses that shippers and carriers have completed X amount of SuperPay transactions without any issues. This record of reliability gives carriers, shippers and brokers confidence when selecting partners, and in this industry trust is everything.
For example, in online forums and Facebook groups, you’ll often see people asking, “Has anyone worked with this shipper? Can I trust them to pay me?” They want affirmation from the community that this is a trustworthy company. SuperPay gives this validation. The same goes for new carriers. It can be hard for them to get jobs when they’re just starting out because they haven’t proven themselves yet. If they use SuperPay, this can act as a trust signal. We’ll even advertise that they’re trustworthy, which helps newer carriers get up to speed faster without having to wait months to build a reputation. SuperPay not only improves communication but also gives users an added sense of security that they’re working with reputable partners.
Can you tell us what challenges do shippers, brokers and carriers face when dealing with multiple payment tools? How does Super Pay help streamline this process?
Vin: Everyone in the industry prefers a different payment method. Some want paper checks while others prefer ACH or apps like Cash App and Zelle. This forces brokers and shippers to constantly onboard carriers onto new payment tools, which is a time-consuming process.
SuperPay solves this problem by centralizing everything into one platform. With SuperPay, brokers and shippers don’t have to spend hours onboarding carriers to different payment systems — they just need to use SuperPay, and carriers get paid through the platform.
On the shipper side, there’s another big issue. Carriers often switch banks and call asking brokers and shippers to update their information. Larger companies often have a full-time employee handling bank updates and dealing with bounced payments. SuperPay automates this, ensuring carriers get paid to their updated bank account without the broker or shipper worrying about making those changes manually.
On the carrier side, they often have to download a bunch of different apps to receive payment, which they are often willing to do. But it’s cumbersome. Now, once they’re onboarded with SuperPay, everything is handled in one place, saving them time and ensuring transparency about where their payment is coming from and when they are going to receive it.
Transparency would also be a big win, right?
Vin: Yes, transparency is crucial. With other payment methods like Zelle or Cash App, you still need to chase down invoices and handle tax forms like W-9s separately. This can be a nightmare, especially when trying to track down carriers who are on the road for days and weeks at a time or are jotting down $200 invoices on a napkin.
Super Dispatch simplifies the collection of necessary paperwork, such as W-9s and invoices, making them readily available in both the carrier’s profile and inside the order. This makes it easier for brokers and shippers to keep track of payments and documentation without constant back-and-forth communication.
Can you share any success stories or metrics that demonstrate SuperPay’s impact?
Vin: Secured Transport is one of our success stories. The Ohio-based fleet management company adopted SuperPay to automate its financial transactions for the 700 to 900 orders it handles each month. Initially, Secured Transport’s carrier partners were hesitant to adopt the platform, but quickly embraced Super Dispatch and SuperPay because of their ease of use.
By integrating SuperPay with QuickBooks, Secured Transport has saved 10 hours per week in accounting work, reduced its error rate and eliminated accounting overtime. The time and money saved with SuperPay have allowed the company to reinvest in their team both.
Zooming out, are there any trends when it comes to payment solutions that carriers and shippers should know? Or product updates on the horizon?
Vin: One of the key challenges we’re still facing is the issue of trust, especially when it comes to guaranteeing payments. Right now, there’s no system that fully ensures both parties will hold up their end of the deal. While SuperPay is a great tool for facilitating payments, it doesn’t yet solve the problem of guaranteeing that payments will be made as agreed upon by both parties.
Platforms like Airbnb and Uber provide that kind of payment security. Users don’t have to worry about whether or not they’ll be paid because the system guarantees it. We aren’t quite there yet. As a platform, Super Dispatch moves payments between shippers, brokers and carriers, but we don’t have control over the actual funds. It’s up to the brokers and shippers to guarantee payments since it’s their money. So, the next level of innovation, in my opinion, is when platforms like Super Dispatch can absolutely guarantee payments.
We remain focused on offering features like instant payments and making SuperPay the best tool possible. But once we can reach that level of payment guarantee, it’ll be a game changer.
Final Thoughts
SuperPay isn’t only making payments faster and more secure, it’s also helping to build trust between carriers, shippers and brokers. As the industry continues to evolve, businesses that embrace payment innovations like SuperPay will be well-positioned to reduce friction in their operations and ensure they send and receive payments faster and with more transparency.
To learn more about how SuperPay can transform your business, get started here.
