CINCINNATI, OHIO and MINNEAPOLIS, MINN — Frayt Technologies Inc., a shipping and technology company that connects enterprises with on-demand delivery services, has selected workforce payments platform Branch to provide their network of 10,000+ drivers accelerated payments, fee-free financial services, and cash flow management tools.
Founded in 2018, Frayt has one of the largest networked fleet of delivery drivers in North America, with thousands of professional drivers in over 40 markets. Supporting a range of businesses from small businesses to big box retailers, Frayt offers professional, on-demand shipping with high-quality service that makes delivery simple for businesses and cost-effective for enterprise customers. As demand for last-mile delivery has increased over 250% the last couple of years, Frayt adopted Branch not only to implement a fast, uniform payments solution that would save the company time and resources, but also empower and grow their rapidly expanding network of drivers.
“Providing a faster, more seamless payments experience through Branch helps us attract and empower the best independent drivers in an increasingly competitive market, offering more career options than ever,” said co-CEO Luke Denny. “Building that loyalty without adding additional costs is crucial for businesses that want to see accelerated growth in the years to come—and Branch’s fee-free services make that possible.”
At no cost to the driver or Frayt, Branch provides the Branch Card and Wallet, a free business debit card and digital wallet backed by an FDIC-insured checking account to receive and access payment. Through the Branch Wallet, Frayt drivers can receive payments for deliveries at the end of each day, rather than waiting at the end of the week for payment. By accelerating payments, Branch provides increased cash flow for drivers and reduces the wait time for payments by over 85 percent. Branch also offers cash back rewards, fee-free checking, and access to over 55,000 free ATMs so that drivers can maximize their earnings and everyday spending.
“As strong advocates for their workforce, Frayt understands the importance of equipping drivers with the best tools in order to create the best customer experiences,” said Branch founder and CEO Atif Siddiqi. “We’re proud to partner with Frayt to support a new wave of business owners with accelerated payments and ensure both customers and drivers receive incredible reliability and service.”
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Branch is the leading workforce payments platform that partners with businesses to accelerate payments and empower working Americans. Companies can make contractor payments instantly and automate reporting through Branch’s digital wallet and optional debit card, creating a more streamlined, uniform payments experience. Independent contractors that sign up with Branch can receive a zero-fee bank account, faster payments for completed jobs, rewards, and personal finance tools to help them manage their cash flow. Branch allows companies to reduce payroll costs, recruit and retain talent, support independent contractors with free financial services, and remove logistical burdens and cash flow concerns. Branch has been honored with a Webby Award — Best Financial Services, Fintech Breakthrough Award, Gartner Eye on Innovation: Financial Services, Star Tribune’s Top Workplaces in Minnesota, and Great Place to Work Certification. To learn more about Branch, visit https://www.branchapp.com and follow us on Twitter, Facebook, and LinkedIn.
Frayt is a nationwide, On Demand, Final Mile Delivery Solution. The Frayt service is through an automated web, mobile, and advanced API platform. Enterprises use Frayt to efficiently and cost-effectively move their goods, providing retailers with the ability to provide an Amazon-level of same-day expectations to their customers. Frayt has the largest on-demand network of commercial vehicles (cargo, sprinter vans and box trucks) in North America. Vetted drivers, who own and operate their own vehicle, use Frayt to earn extra income by utilizing their down time and excess cargo capacity. Frayt provides companies the ability to gain fleet augmentation and fully replace their middle and last-mile fleet with a fluid network of delivery assets ranging from a sedan up to a 26 ft box truck. To learn more about Frayt, visit www.frayt.com and follow us on LinkedIn, Facebook, and Instagram.