Loop partners with J.P. Morgan Payments

The partnership is aimed at enhancing financial operations across the shipping industry. This partnership aims to improve accessibility and profitability for shippers, carriers, and third-party logistics providers by boosting working capital through streamlined freight payments. By leveraging Loop’s logistics-AI solution alongside J.P. Morgan Payments’ stability and innovation, the collaboration promises to foster stronger relationships between carriers and shippers based on speed, transparency, and trust.

The initiative targets significant pain points within the industry, such as the inefficiencies caused by legacy paper invoices and delayed payments, which contribute to elevated operational costs. According to proprietary research by J.P. Morgan Payments, legacy payment systems experience delays up to 30% of the time, leading to friction in carrier relationships and additional costs due to late fees. The collaboration between Loop and J.P. Morgan Payments addresses these challenges by facilitating faster payments to carriers and offering competitive financing rates to shippers through enhanced AI capabilities.

Adopting an AI-driven approach

Loop’s platform integrates logistics-AI and automation to streamline invoice approval processes for shippers, reducing review times significantly. Qualified carriers can benefit from expedited payments, often on the same day, using J.P. Morgan Payments’ payment platform, albeit for a small fee. This approach not only accelerates cash flow but also allows shippers to optimise their payment terms strategically.

Furthermore, Loop will join the J.P. Morgan Payments Partner Network, expanding its reach within a broader ecosystem of third-party applications. This move is expected to further enhance payment flexibility and operational efficiency across industries beyond transportation.

Loop's commitment to revolutionising freight payment systems is underscored by its AI-driven approach, which aims to simplify the complexities of supply chain logistics. By automating tedious processes and enhancing transparency, Loop enables logistics companies to transition into digital transformation, thereby optimising workflow efficiency. The platform's precision audits, seamless dispute resolution, and tailored analytics provide customers with unprecedented insights and operational control.