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Melissa Forman, President at TriumphPay, discusses recession in freight industry and expanding carrier payments to include Mexican pesos. Topics include challenges of excessive capacity, shifting consumer spending patterns, and opportunities in cross-border operations with Mexican peso payments.
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Quick takeaways
- Freight industry faces recession, struggling with low profitability and oversupply.
- Expanding carrier payment platform to include Mexican pesos aids cross-border operations and supports market competitiveness.
Deep dives
Challenges in the Freight Marketplace
The podcast episode discusses the challenges faced in the current freight marketplace, highlighting a significant recession in the freight sector. With an oversupply of capacity in the market, carriers are struggling to maintain profitability, leading to lower average invoice prices. The guest expert also mentions the uncertainties stemming from the pandemic and a lack of clarity on the new normal in the industry.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode