The transportation industry uses real-time payments at a much higher rate than other sectors. Seventy-three percent of transportation SMBs used real-time rails in the past 12 months, according to a PYMNTS Intelligence study. Even so, paper checks remain the most popular payment method overall, at 57% of total payments volume.

While real-time payments can improve logistics and revenue across the transportation industry, many firms remain hesitant to implement these systems due to concerns about their perceived complexity.

If firms can overcome their hesitation about adopting real-time payments, they could strengthen their financial position thanks to more accurate accounting and increased employee satisfaction.

Small- to medium-sized businesses (SMBs) in the transportation industry, including trucking and delivery services, face numerous challenges today, such as rising gas prices, staffing shortages, and inflation driving up the cost of transported goods. One often overlooked issue is the complications associated with legacy payment systems. Many firms still rely on outmoded transaction methods like paper checks and money orders for everything from paying workers to settling bills with suppliers. These payments are prone to delays, errors and other problems.

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