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Tank Pay is designed to facilitate money transfers on behalf of factoring companies and freight brokers – not just transfers to Tank Accounts – directly from the factoring software or TMS. Payors that use Tank Pay avoid shifting context between their operating bank account and their client management software to fund clients. Because Tank Pay integrates directly into the software, it results in more complete AP automation for the payor, and less room for human error. End customers benefit from a simple payments workflow that prioritizes ease of use, but also makes recommendations to save money.

 Payors set prices for each customer receiving payments from Tank Pay. Tank will present the payment recipient with delivery costs (for ACH, Wire, RTP, etc.). The payor may present the client with dynamic prices for money transfers that are client-specific. For example, the payor may offer free wires as a promotion to one client, while keeping other customers at a different price point.

: Tank Pay provides confirmation that transactions are initiated through instant receipts, end of day accounting reports, and the Tank Portal. Users can interact with our Quickbooks integration to reconcile transactions daily.

Clients get notified by SMS when the payors initiate a payment from the software.

Clients choose default funding destinations, or they can actively cash out to new destinations, like new bank accounts or fuel cards.

Fully automate your client funding with Tank.

Tank Pay: Client Funding Automation

Tank Payments offers partners Quick Draw, a product that allows payors to issue instant payments from any bank account and into a client's Tank account. Quick Draw enables factoring companies to deliver funds to carriers’ Tank accounts without requiring a pre-funded reserve account.

For a variety of reasons, it may not be advantageous for factoring companies to hold a large reserve account in their funding account at Tank Payments. For customers where this is a priority, we’ve created a process that allows Tank to initiate debits from the factor’s operating account, while making those funds instantly available for use by Tank clients. In many cases, Tank Payments may be able to draw directly from a zero-balance account (ZBA) or line of credit (LOC), minimizing accrued interest.

Tank makes a request to the factor's external account to verify its current balance, and ascertain that it’s sufficient to make the payment.

Tank initiates an ACH debit from the factor’s account in the amount of the funding.

Tank makes the amount of the ACH debit immediately available for disbursal into clients Tank wallets.

Use QuickDraw to initiate transfers directly from your bank account to a client's Tank Account.

QuickDraw: No-Reserve Instant Funding

When your clients spend on Tank cards, you generate meaningful revenue, substantially higher than fuel card revenue sharing programs.

When factors and brokers work with Tank Payments, they're capable of building custom card programs specifically designed to work for freight businesses. Instead of charging your clients punitive transfer fees, Tank's card program enables freight businesses to save money while factors and brokers monetize clients' card spend. Traditionally, setting up credit card programs represented a significant cost - both monetary (for bank sponsorship, program management, and more) as well as time (servicing credit card clients, maintaining bank compliance requirements). With Tank Payments, we let factors and brokers focus on their core strengths, leaving the details to us.

One of Tank's core product offerings is building technology enabling traditional factoring companies and freight brokers to generate revenue through credit card interchange. Transactions that are eligible for interchange include card swipes at merchants with POS card terminals and online purchases using a Tank Card. Transactions that aren’t eligible for interchange include purchases made using the Tank account + routing numbers, as well as transfers to external banks. Interchange fees are accrued by VISA over the course of a calendar month, and are paid out to partners in the form of a monthly lump sum in the first few days of the next month. 

Using the Tank Card as a base structure, you can design your own client-retention programs. Tank's 

 program is a popular and effective tool to retain great clients and provide a monetary benefit to clients. Our team is excited to work with you to create novel ways of pushing benefits to your clients.

FAQ1: How much will this cost the factoring company?

Custom Card programs are included in the monthly subscription fee for Tank Payments. Some non-standard implementations of the card programs may yield additional fees, communicated in advance.

FAQ2: What proportion of revenue share will the factor get from Tank Payments?

The factoring partner will receive 50% of all card interchange revenue that Tank Payments receives from VISA at the end of each month. Speak with a Tank sales representative to understand how revenue sharing will look for your business outcomes.

FAQ3: What is the current observed customer behavior on Tank Cards?

Today, we see that customers spend between 25-40% of their factored funds on the Tank Card on average. With custom card programs, these proportions may change depending on the value to the client.

To get started with the revenue sharing, speak with a Tank sales representative to coordinate on 1) Program Economics, and 2) Program Marketing.

For program economics, we determine what % of the interchange revenue is kept by the factor, and what % is rebated to the client as a factoring fee discount (if the partner moves forward with the 

For all custom card programs, we align with the partner on a messaging strategy to share with each factoring company’s client base, informing clients that they will be enrolled in a custom program. Tank Payments will take care of all rebate distribution and client servicing.

Build a revenue stream from a credit card program hosted and managed by Tank.

Payment Automation

Tank Pay: Client Funding Automation

QuickDraw: No-Reserve Instant Funding

Custom Tank Card Programs