Santa Clarita-based Loadchief announced a new partnership with Velo Payments on Thursday meant to modernize on-demand driver payments in the final-mile delivery marketplace.
The partnership between Loadchief and Velo aims to offer the most flexible and easiest-to-use payment service for delivery companies to compensate independent drivers, according to company officials.
“Delivery companies increasingly rely on independent contractors but typically have limited options of how and when they pay them,” said Loadchief President JC Burnett. “This partnership provides a new level of flexibility and will allow even more companies to enjoy the Loadchief Advantage of professional independent drivers for routed and on-demand work.”
Loadchief connects delivery companies with professional, independent drivers to provide contract delivery services.
With Loadchief, companies can post delivery work to the marketplace and only credentialed drivers matching their job requirements can accept the work, bringing a higher level of performance to the last-mile delivery sector, according to company officials.
According to Loadchief, the partnership addresses the current disconnect in payment processing. Delivery drivers typically want rapid payment, but courier companies often get paid by their customers monthly. Working with Velo, Loadchief customers aim to utilize a broad range of payment options that meet their unique needs, as well as the needs of the drivers.
“Velo is thrilled to work with Loadchief to bring payments to their market-changing service,” said John Partridge, CEO of Velo Payments. “Velo was built to make payments effortless, and we are looking forward to reshaping how courier companies source and pay independent contractors.”
Velo provides a payments orchestration platform that automates payouts from businesses to their vendors and independent workforces. Velo onboards and captures the payment preferences of buyers, vendors and contract workers, then finds optimized payout outcomes that consider the speed, cost, and predictability of available payment methods.
Couriers and independent drivers make payments and get paid in ways that are unique to their individual needs via Loadchief, officials said.
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