![]() ![]() “You wind up in this unbalanced situation where you are simply too small for such a massive industry,” Garcia said. More than 90% of the trucking industry is made up of independent operators and smaller firms, where the average fleet is six vehicles. See more: Payments, Tech Give Small Truckers Big Fleet Advantages Read more: Maersk Turns to Stripe to Modernize PaymentsĮlsewhere, in the trucking industry, as Guillermo Garcia, CEO of FinTech SmartHop, told Karen Webster, platforms can help level the playing field between the largest operators and their smaller competitors. In just a few recent examples, Danish shipping and logistics firm Maersk has chosen payments infrastructure firm Stripe to help “modernize its economic infrastructure.” The effort will synthesize and centralize several far-flung activities, from tokenization to payments processing and security authentication - and brings credit cards more fully into the mix. To that end, we’re seeing movement by some of the largest players in the logistics space to bring payments fully into the 21st century, embedded into the mid-mile and last-mile interactions. After all, goods cannot move through their supply chains and wind up on shelves (or in warehouses, ready to be shipped), without payments moving right alongside. There’s a critical piece of the puzzle here that needs updating - and modernization and digitization. See more: Transaction Disputes Rise as Supply Chain Disruptions Persist Stockouts and delays lead to disputes, and disputes lead to unhappy consumers. Read more: Inventory Stockouts Cost Retailers up to $4.6B on Black Friday That pressure continues into the present day, as earnings commentary has shown. ![]() More than a third of shoppers could not find what they wanted on shelves. Stockouts were common even as late as last year before inflation truly took off, and restrictions and lockdowns still were the norm. Supply chains are still being roiled by the pandemic. Logistics as an industry seems to be lacking some logic.
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