TransCard acquires transportation industry payroll program

Fintech company TransCard, a cloud-based payment solutions provider, will soon be providing employee payroll services to transportation company U.S. Xpress, Inc. The arrangement provides 7,000 trucking and logistics industry personnel with virtual payment accounts through  TransCard’s funds disbursement and management platform Paynuver.

 “With this strategic acquisition, thousands of truck drivers and transportation workers will now be provided much-needed choice and convenience when receiving their payroll,” TransCard President Greg Bloh said. “We are excited to welcome these new account holders into our network and service them in a way that meets the challenges of life on the road through our innovative platform.”

Paynuver capability allows U.S. Xpress workers to access funds via a virtual portal and choose a preferred payment method which can be loaded onto a prepaid card. Given the frequent travel in the industry staff will be able to take advantage of flexible options.

“Having successfully rolled out Paynuver nationally in February, the integration of the U.S. Xpress payroll program and creation of 7,000 new accounts shows the market is responding favorably to the new technology,” Mr. Bloh said. “The deal further positions us for growth as we continue to revolutionize the traditional payment model.”