TEG’s SmartPay Passes £478m as Same-Day Pay Hits UK Hauliers
70 pts · High·The Fintech Times·3h ago · Oct 25, 10:00 UTC·1 min read
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TEG's embedded-finance platform, SmartPay, has successfully transferred £478 million to UK freight carriers, with £418 million processed in the last year alone. This significant financial movement highlights the platform's impact in facilitating same-day payments for hauliers in the UK.
Key takeaways
- ▸SmartPay has transferred a total of £478 million to UK freight carriers.
- ▸In the last 12 months, £418 million has been processed through the platform.
- ▸The service facilitates same-day payments for hauliers in the UK.
- ▸TEG is enhancing cash flow for freight carriers with its embedded finance solutions.
Why this matters
TEG's success with SmartPay demonstrates the growing demand for faster payment solutions in the logistics sector. As hauliers benefit from improved cash flow, TEG positions itself competitively against other fintechs, reinforcing the importance of embedded finance in modern payment solutions for businesses.
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