Understanding digital payment systems in logistics
Digital payment systems in logistics are of primary importance as most of the transactions are required while commercial vehicles are off premises. Moreover, carrying cash is not advisable as it is often prone to theft or manipulation and even paper receipts and reimbursements are quite chaotic to handle. An integrated digital payment ecosystem including direct account transfer, payment links and QR code payment systems for logistics provide a seamless transaction process.
What are QR Code based payments and how do they work?
QR codes used for payments resemble a square grid with codes that are linked to a bank account. The QR code for money transfer can be scanned using a mobile phone to make payments. The merchant name or bank account details are mentioned while scanning the code. There are two types of QR code mobile payments currently in use – static and dynamic.
- Static QR Code: Static QR codes are placed at physical locations for customers to scan and make payments. However, the amount must be manually entered by the customer as these codes cannot be customized for each transaction or product that a customer might purchase.
- Dynamic QR Code: Dynamic QR codes can be customized for each transaction and the payment details including the particular amount to be paid for a certain product is automatically generated. It does not need manual entry or require to be placed in a physical location as it is generated on the mobile device.
Why should you use QR Code for money transfer in logistics?
There are a number of benefits of using QR code to accept payments in logistics. It is a cost-effective and time-saving solution as it does not require a physical card to carry or to receive sensitive debit or credit card information from truck drivers, owners, managers, shippers and customers who make transactions at every stage of the shipment delivery process.
- Simple Integration: The integration of QR code payment systems for logistics into an existing or new payment ecosystem is simple and it doesn’t need physical equipment like a card machine as customers can use their own devices to scan the code.
- Secure Data: QR codes for money transfer offer a secure payment method that’s faster and easier than traditional card payments without having to fill in any sensitive payment information that might be misused.
- Save Operating Costs: QR code payment systems for logistics are a cost-efficient solution for acquirers and merchants alike as there is no need for Point of Sale (POS) terminals, allowing businesses to increase operational efficiency while reducing overhead costs.
How AxlePay can help to streamline payments for logistics?
In the logistics industry there is an ever increasing need for an integrated bill payment system. AxlePay is an online payment gateway to streamline transactions in logistics. All payments can be integrated on a single platform through payment links and QR Codes for money transfer. Logistics Owners, Fleet Managers and Truck Drivers can receive, manage and distribute payments without any hassle by using AxlePay. Moreover, payment status and history can be accessed in a user-friendly dashboard.
Let’s Wrap Up!
In a decade where digital transactions are becoming the most preferred method of payments, QR code payment systems for logistics provide simple integration, secure data and the ability to save on operating costs. Logistics owners, fleet managers and truck drivers can either use static QR code mobile payments or dynamic QR code based payments according to their convenience for single or multiple transactions. AxlePay provides a comprehensive payment gateway to create payment links and generate QR codes for money transfer along with expense tracking features in order to streamline transactions.
Axlerate is a unified platform for Logistics and transport management, payments and services. Our solutions help to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.