LiteLink Technologies Inc (CSE:LLT) (OTC:LLNKF), a digital blockchain payment company, signed a memorandum of understanding to team up with InstaPay Flexible LLC to help offer freight factoring to customers of its shipping logistics platform 1SHIFT.
Freight factoring is a way helping shippers and their drivers get paid faster instead of having to wait for their invoices to be honored. With this deal in place, 1SHIFT will show proof of delivery to InstaPay, who will in turn provide advances on invoices to the company and its drivers for a flat fee within 24 hours.
Shares revved up 5.3% to C$0.20 on the CSE and 4.8% to US$0.15 on OTC markets.
“We are very excited to have the ability to offer advanced same-day payments to our 1SHIFT customers and alleviate one of the major issues plaguing the trucking industry,” CEO Ashik Karim said. “The addition of freight factoring into 1SHIFT logistics ecosystem makes the platform a true end-to-end management solution that will completely change how the transportation and logistics industry does business.”
LiteLink is a Vancouver-based company that provides blockchain consulting and development services. It’s 1SHIFT platform is outfitted with the digital wallet uBUCK.
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