Sign up to learn how to trial SMART Hub and start saving up to 15 minutes per payment.
Back to Articles
linkedin twitter mail_sharing_icon

Collaboration Between Transcard, Mastercard and DLT Labs is Driving New Efficiencies in Freight Processing

February 23, 2023

Freight processing is plagued by invoice disputes, slow cash flow, and conflicts between parties. 

The root of the problems in freight processing is that shippers, brokers, carriers, and other parties in the freight ecosystem are sitting on a mountain of information that they cannot use.  

FreightX – a collaboration between Transcard, Mastercard and DLT Labs – is changing all that. 

FreightX is an industry-first solution that allows all the parties involved in freight processing to share information via a secure digital ledger. The solution was designed for any shipper, broker, or carrier in over-the-road haulage in the United States. Over time, FreightX will be available worldwide.

FreightX uses advanced technology to overcome the challenges of freight processing:

  • Digitally connects shippers, brokers, carriers and other parties via a distributed ledger
  • Uses smart contracts to manage business rules in real-time
  • Automatically updates invoices based on events in the field, as they happen
  • Embeds payments and financing in freight processing for faster, frictionless cash flows
  • Reconciles payments in real-time with a carrier’s ERP, TMS or system of record

While FreightX is new, the technology it is built on is proven. The distributed ledger technology used by FreightX powers one of the world’s largest blockchain deployments. And the payments and financing technology embedded in FreightX is used every day by hundreds of banks and businesses.

What are the benefits of freight processing automation?

FreightX was designed for shippers who struggle with back-and-forth emails and phone calls with carriers trying to resolve disputes and are tired of paying third-party services to audit invoices. 

FreightX can help shippers: 

Improve control of freight spend
Reduce the need for costly third-party audit services
Eliminate carrier conflicts over invoice disputes
Protect customer relationships through stronger carrier relationships
Better utilize their existing infrastructure

Carriers may be a good candidate for FreightX if they are getting beaten up by cash flow delays, high back-office costs, and punitive early pay fees from disputed invoices.

With FreightX, carriers can:

  Virtually eliminate invoice disputes
✓  Streamline their back-office processes
  Accelerate cash flow without paying punitive fees
  Strengthen relationships with shippers

Transcard, Mastercard, and DLT Labs recently showcased FreightX at the Manifest, one of the largest freight and logistics events in the U.S., and the response exceeded all expectations. The companies also participated in a well-attended panel discussion on how advanced technologies such as smart contracts, distributed ledger platforms, and embedded payments can accelerate cash flow.

It’s clear that shippers, brokers, and carriers are fed up with outdated approaches to freight processing. FreightX is establishing a new paradigm in end-to-end freight processing.

New call-to-action


Join our communications list and we'll keep you in the loop with
the latest industry updates.

Property Management
Financial Institutions
How-To Guides
Platform Features
Payment Innovation
Share this article
linkedin twitter mail_sharing_icon