FreightTech Meets FinTech with Victor Ofstein

FreightTech Meets FinTech with Victor Ofstein

Joe Lynch and Victor Ofstein discuss freight-tech meets fin-tech. Victor is the Head of Strategic Partnerships at Melio where he brings Melio's seamless online payments to the logistics and transportation industry.

About Victor Ofstein

Victor Ofstein heads Melio's Freight and Logistics practice, introducing innovative digital payment solutions to brokers, carriers, forwarders, factors and shippers. Prior to joining Melio, he was a founding team member of Freightos, the online digital marketplace for international freight, and served for 7 years as their COO, playing a key role in streamlining and digitizing back office logistics operations such as quoting, pricing and payments. His career has spanned two decades at the intersection of software, services and billing, leading large scale customer engagements at IBM (IBM), Amdocs (DOX) and Accenture (ACN). In his precious free-time, Victor enjoys hiking and camping with his wife and six kids.

About Melio

Melio is a payment solution that streamlines your workflow and helps you manage cash flow. Pay business bills the way that suits your business best. With Melio, you can pay all your shippers, carriers and factors with ACH, check, debit or a credit card - even if they don’t accept cards. Melio integrates fully with QuickBooks, so you can manage and track every payment in one place.

Key Takeaways: FreightTech Meet FinTech with Victor Ofstein

• Victor Ofstein is the Head of Strategic Partnerships at Melio, a company that is bringing fin-tech to freight-tech.
• According to Victor, the number one question in transportation and logistics is “Where is my stuff?” The number two question in transportation and logistics is “Where is my money?”
• Victor and the team at Melio are making it easier for transportation and logistics companies to make and receive payments.
• In our personal lives, we have gotten use to consumer payment technologies that make getting and receiving money very easy. In our professional lives, payments are often a hassle with an over-reliance on checks and snail mail.
• Given the importance of cash flow and on-time payments to carriers, brokers, and 3PLs partners, companies need the flexibility, speed, and convenience of fin-tech – similar to the consumer experience.
• Melio is the simplest way to pay vendors and contractors.
• With Melio, companies can pay any invoice with a bank transfer for free, or use their credit card to defer payment (2.9% fee). Vendors receive a check or a bank deposit.
• In addition, Melio’s technology integrates into transportation management systems which makes payments and accounting even easier.