Schneider Logistics, Inc., is changing the name of its freight payment company, Tranzact Payment Services, to Schneider Logistics Payment Services.
The name change is meant to build brand consistency among all Schneider Logistics
services and reflects the company’s original agreement with Tranzact Systems, Ltd. as part of Schneider Logistics’ March 2000 acquisition of Tranzact’s freight payment subsidiary.
Schneider Logistics Payment Services manages the flow of funds through customers’ supply chains, providing a payment platform that delivers high volume, low cost transaction processing. Services include transaction audit, processing and payment; accrual and accounting functions; rate library creation; multi-media and customized reporting; auto pay services; online interfaces; and international payment capabilities.
The firm’s Interacc product also offers a logistics analytical tool that provides customers with business intelligence data. Schneider Logistics Payment Services processes 75 percent of its freight bill volume in the Electronic Data Interchange (EDI) environment, making the company the largest processor of EDI freight bills in the country.
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