Truckstop.com Acquires D&S Factors, Expanding Suite of Payment Services in the Transportation Industry
Technology payment veteran Roy Banks joins Truckstop.com to serve as President of D&S Factors and LoadPay.
Aug 27, 2018, 12:26 ET
NEW PLYMOUTH, Idaho, Aug. 27, 2018 /PRNewswire/ -- Truckstop.com, leader in transportation technology and freight matching solutions, has announced the acquisition of D&S Factors, a factoring service for the transportation industry based out of Fruitland, Idaho, with 66 employees. The acquisition allows Truckstop.com to offer a full suite of payment services to carriers and positions the company as an industry leader in the transportation payments area.
"Merging with a company like D&S Factors is an exciting new step for us," said Paris Cole, CEO of Truckstop.com. "We're looking forward to bringing their entire team into the Truckstop.com family."
With the acquisition, Roy Banks has joined the Truckstop.com team to serve as President of D&S Factors and LoadPay, a seamless payment platform for both carriers and brokers. Roy has over 20 years of public and private company leadership and management experience in mergers and acquisitions, strategic planning, direct sales, channel sales, marketing, finance, product development, manufacturing, and distribution of products and services.
"We are thrilled that Roy Banks is joining the Truckstop.com team! Bringing someone with the industry experience that Roy offers is a huge victory for our customers," said Cole. "We want to continue delivering the best technology solutions for our customers, and Roy will help us do that. With his leadership skills, we'll keep finding ways to increase efficiencies and reduce costs for each stakeholder in the transportation industry."
Roy enjoys working with private equity groups and helping growth-oriented companies build value in the marketplace. His extensive executive experience includes financial and high-tech SaaS, eCommerce, payment processing, and ISV software industries. Of special note, he pioneered internet payment processing products and services as President of Authorize.Net. He also served as CEO of Accelerated Payment Technologies which provides integrated payment technology to hundreds of independent software vendors. He most recently served as CEO of NMI, a leading provider of payment-enablement technologies for VARs, ISVs, and ISOs.
"There's a tremendous opportunity to simplify and bring payment efficiencies to the transportation industry, and with my deep payment processing industry experience, I'm excited to guide, lead, and grow both D&S Factors and LoadPay into the leading transportation payments solution," said Banks. "I can't wait to get started."
Roy has been serving on the Truckstop.com board and will continue to serve in that capacity along with his role as President of LoadPay and D&S.
About Truckstop.com Truckstop.com is the world's most trusted load board and freight marketplace for carriers to find loads at the best rates and brokers to increase capacity. With Truckstop.com, brokers can post loads and carriers can search for available loads in real-time. For over 20 years, Truckstop.com has helped carriers and brokers successfully run their businesses and find a better way to move freight. More information can be found at www.truckstop.com.
Brent Hutto, Chief Relationship Officer
About D&S Factors D&S Factors specializes in factoring for truck drivers and others in the transportation industry. D&S Factors allows you to get your money more quickly and eliminates the hassle of trying to collect from your customers. With no application or set fees, an easy to use app, the ability to choose the loads you want factored, a 5% flat rate, and full-service billing, D&S Factors makes it easy to get paid, and get on the road and back to business. More information can be found at www.DSFactors.com.
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